Wednesday, January 17, 2007 · Page 5 No news on future of Colchester developments Developer named in OSC allegations BY ANDY COMBER A shadow has been cast over hopes for a multi-million dollar land and commercial development in the Village of Colchester originally announced last fall. Concerns have been expressed that the projects by Kore announced International Management Inc. and its director, Petar Vucicevich, will be stalled following news of an investigation, unrelated to the developments, by the Ontario Securities Commission (OSC). Both Kore and Vucicevich have been named in allegations by the OSC, along with the Nevada-incorporated Sulja Brothers Building Supplies Ltd., the Harrow-based company of the same name, and Texas resident Andrew DeVries. In a Jan. 10 news release, Sulja Nevada acknowledged the OSC allegations that claim Vucicevich and DeVries engaged in manipulative trading in the company's stock and were responsible for Sulja's improper disclosure and misrepresentations in certain press releases. Sulja Nevada, whose principal asset is the Harrow lumberyard, said they were undertaking a review of issues related to the trade of its common stock and previous public disclosures. "Given the early stage of this review, the company is unable to provide any further information regarding these matters, but cautions investors not to rely upon press releases and other public statements previously issued by or on behalf of the company," states the company's press release. The Sulja announcement comes following the extension of a temporary order made by the OSC on Jan. 8, ceasing trade of the company's stock in Ontario until March 23, and the launch of an inquiry by the U.S. Securities and Exchange Commission (SEC). In their release, Sulja acknowledged that the OSC has commenced an enforcement proceeding against the Nevada company, its Ontario affiliate of the same name, Vucicevich who was the company's former CEO, Kore, and DeVries, a former business associate of Sulja and Kore. Sulja said they would cooperate with the SEC, acknowledging the U.S. inquiry into the matters that are the subject of the OSC investigation. "For the foreseeable future, the company does not intend to respond to requests for information from shareholders or other interested parties, except to refer them to this press release and subsequent releases issued by the company," the company release stated. The news has cast a shadow over hopes for the continuance of a $20-mil- LETTERS TO THE EDITOR McDonald's coming to town In regards to the new McDonald's restaurant that will be going up adjacent to the Tim Hortons. Maybe this would be a good time to activate the traffic signals at that intersection so people can get used to it. Also as a avid walker with my wife and son, maybe the town could throw down a sidewalk from where the sidewalk ends to the Tim Hortons and the new McDonald's. Terry Ozard Essex NEW SPACE Only a few trees remain on property cleared in the Village of Colchester as part of a $20-million land and commercial development. To date, no proposals have been presented to the town. lion land assembly and commercial development in the Village of Colchester, announced last fall by Vucicevich as director of Kore. There has been no response to requests and calls to Kore for information on the future development. However, some buildings, mostly former cottages, have already been demolished, mostly on the west side of the southernmost block of Jackson Street in Colchester, with demolition permits issued for other buildings acquired for the development. The Town of Essex planning department said they have not been approached concerning any developments in the village, emphasizing that a site plan agreement between the developer and the town would be needed before development could proceed. Amendments to Municipal Act proclaimed Amendments to the Municipal Act 2001, the legislation providing the authority for Ontario municipalities, were proclaimed early in the new year providing local governments with new broad powers and significant legislative freedoms. The Municipal Statute Law Amendment Act 2006 recognizes municipalities as responsible, accountable governments. The broader powers enable municipalities to better determine the appropriate mechanisms for delivering municipal services to their communities. Municipal governments now have broader power to pass bylaws ranging from local governance structure to the economic, social and environmental well-being of their communities to the protection of persons and property, including consumer protection. The act ensures that local councils are accountable to the public and that the processes for making decisions are transparent. Municipalities can now have a more effective accountability regime with the authority to establish codes of conduct for members of council. They can also appoint an integrity commissioner, an ombudsman, an auditor general and a lobbyist registrar. Municipal councils and local boards are now required to give public notice of upcoming meetings. Minutes must be recorded at all meetings, including closed meetings. Municipalities now also have the authority to appoint a person to investigate and provide a report when it is suspected that these requirements have not been fulfilled. The provincial Ombudsman is able to undertake the investigation if a municipality has not appointed its own investigator. The current legislation is clarified to clearly state that a meeting may be closed to the public if the meeting is for education or training purposes. Municipalities now have the authority to offer financial incentives within a community improvement plan. In addition, Ministerial approval, rather than Cabinet approval, is now all that is necessary for a municipality to establish a small business incubator program. Municipalities now have the authority to establish their own rules and conditions for BIAs. The current BIA rules and conditions in the Municipal Act, 2001 continue if a municipality does not establish its own rules and conditions. Quality Service and Value Since 1962 MEAT MARKET LTD. 68 Talbot St. N., Essex, Ontario N8M 1A2 · Phone 776-7541 JAN 18 - 24 HOURS: Mon., Tues., Wed. 8-6; Thurs., Fri. 8-8; Sat. 8-6; Closed Sun. PORK $2 99 CHOPS /LB. 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