HERE COMES THE SANTA CLAUS PARADE!
SPORTS
BUSINESS
ENTERTAINMENT
KELOWNA’S Doug Dreschner has been inducted into the Canadian Lacrosse Hall Of Fame, a two-time Mann Cup winner who played at both a national and international level.
COLUMNIST Maxine DeHart fills us in on the new tenant in the former Crown Packaging warehouse on Enterprise Way in Kelowna.
SINGER/SONGWRITER Joshua Hyslop will play a series of concerts at Central Okanagan schools through next week.
Friday, Nov. 22nd @ 6:30pm
g 250.744.1231
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THURSDAY Nov. 21, 2013
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The Central Okanagan’s Best-Read Newspaper
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www.kelownacapnews.com
▼ KELOWNA MOUNTAIN
Financial problems for development Jennifer Smith STAFF REPORTER
Investors now know the full details of the risk they incurred by purchasing shares in the development scheme dubbed Kelowna Mountain. Variously pitched as a multi-sport adventure tourism site, housing development and ice wine vineyard since founder Mark Consiglio first went public with the plan in 2006, the B.C. Securities Commission suspended sale of shares in the limited partnership which now owns the mountain on Aug. 13 as the paperwork explaining the investment was too light on details. In an effort to have this Cease Trade Order rescinded, Consiglio, acting on behalf of Kelowna Mountain Development Services, general partner to the new owner, Kelowna Mountain Limited Partnership, outlined an offer for those who bought shares to get a full refund this fall. The offer was valid through Nov. 4, and promised the full amount back, although investors would lose any interest that would have accumulated since their purchase was made and those who bought multiple shares might receive a promissory note for the future sale of shares instead of money. Among the documents now on record with the securities commission, and mailed to investors with this offer, it’s made clear the mountain faces potential foreclosure owing to Consiglio’s debts and notes that there is no obligation for the developer make good on the original pitch. “Some of Kelowna Mountain’s promotional material suggested that you would receive a residential lot and golf membership in a resort-style community… As described in the updated OM, this is only one development scenario. Kelowna Mountain is not obligated to develop the property in this way or at all,” the letter states. The new offering memorandum, or OM, referenced is a requirement for upstart ventures, used in place of a prospectus outlining the full financing and business plan for a company if the cost of developing a prospectus is too onerous. See Development A5
WADE PATERSON/CAPITAL NEWS
GRADE 11 Mount Boucherie Senior Secondary student James Gabriel speaks about ways to improve communication between the district and students Wednesday morning at the third annual West Kelowna Mayor’sYouth Forum.
▼ WEST KELOWNA
Mayor’s forum focuses on youth issues Wade Paterson STAFF REPORTER
Local students who want to see change had the eyes and ears of several of the community’s most influential decision- makers Wednesday morning. The third annual West Kelowna Mayor’s Youth Forum took place at Mount Boucherie Senior Secondary. Local politicians, social workers, teachers and students put their heads together for the twohour breakfast event to discuss the issues affecting young people.
Round table discussions focused on four major topics: Youth safety and security, transportation throughout the community, youth recognition and celebration and communication between the District of West Kelowna and School District 23. Grade 11 MBSS student James Gabriel said the annual event is an important one for youth to have their voices heard. “We had good communication today,” said Gabriel. “I think it’s really good because it included the youth who think things need to be improved
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and then it (included) the people who can make those improvements.” Gabriel said a lot of strong ideas came out of his table’s discussion at the event, including the implementation of a community awards ceremony for youth, which would recognize achievements other than athletic skills and academic grades. He added the district would likely be able to better connect with students if they had a smartphone app that sent relevant information directly to students’ phones.
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Other students commented on the need to increase security at bus stops, the unreliability of public transit and the lack of mental health resources in their schools. West Kelowna Mayor Doug Findlater began Wednesday’s forum by giving the crowd a list of steps the district has already taken to provide some of the things youth have been asking for over the years, including: CNR Wharf improvements, an RCMP school liaison officer, prelimin-
See Issues A5
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