Province to address Vancouver Olympic mess

VANCOUVER, British Columbia, Jan. 15 (UPI) -- The provincial government of British Columbia will reconvene early to address Vancouver's $450 million shortfall in building the 2010 Olympic Village.

Premier Gordon Campbell made the announcement Wednesday, but didn't specify when the session would begin in Victoria, the Globe and Mail reported.

The legislature was scheduled to resume Feb. 10, but the city has a Feb. 15 deadline to come up with the cash after its principal lender, Fortress Investment Group of New York, stopped lending in September because of $100 million in cost overruns.

"We want to do everything we can to help and we will do it as quickly as possible," Campbell said. "There are some significant economic downsides to dithering on it."

Under Vancouver's charter, without provincial legislative action, it would be required to conduct a referendum to approve the borrowing, the Globe said.

Opposition leader Carole James of the socialist New Democratic Party Leader Carole James said she won't rush to approval.

"Gordon Campbell seems to be under the illusion that these are his tax dollars," she told the newspaper. "Taxpayers deserve to hear how their dollars are being spent."