Honorariums have been resurrected

At the postings below you can find some of the discussion about the Honorariums that were in place at the Vernon Land Corps that were eventually discontinued by council. At the time during a COW meeting in November 2006 the head of the Vernon Airport Corporation Ian Hawes stated in first answer he gave to a question from B. Beardsell that there were no Honorariums being given to any Airport Directors.

Well since those days the Vernon Land Corps has morphed into the Hesperia Development Corporation and the Airport Corp. has become the Captain Bailey Way (CBW) Development Corporation. The Hesperia Board of Directors are free to set their own re numeration and or expenses as they approve. Section 19.2. They have in their budget projections for the project set aside $11,000 in 2007 and a further $25,000 in each year from 2008 to 2015 for Directors Fees.

The CBW Dev. Corp, the Airport reincarnation will change their Feb. 25/08 Pro-forma Income statement in which Directors fees or Honorariums were not mentioned and at todays Council meeting present a statement at which the Project Development of 10 Hangers and 10 Residences will have $64,800 budgeted for HONORARIUMS. (P.98 Agenda Package 1 - 6.83MB)

The projected selling price of these 10 Hangers and Residence has ballooned from $8,185,100 to $11,891,881 (a 45% increase). There are other major changes that I will post on later today.

Hopefully among other things about this project, a discussion about the honorariums and their validity will be held. An announcement whether the Vernon Council Reps. who are directors on these two reincarnated Corporations are eligible to share in this remuneration will be decided by resolution if the Directors Fees and/or honorariums are continued.

Musings on the Land Corps
Council Questions Bloated Budget
Honourariums scrutinized
'Totally opposed" to $6,000 each