Bank forecloses on Kamloops mayor’s car dealership

The mayor of Kamloops has three months to repay a nearly half-million-dollar debt before the bank sells his car dealership for the money it is owed.

On June 1, a BC judge ruled that Beem Credit Union can sell Mayor Reid Hamer-Jackson’s business property on his behalf in order to recover the debt. Hamer-Jackson wasn’t in the courtroom, but he has publicly acknowledged he owes $450,000 in the form of a loan.

The Tru Market Truck and Auto Sales property has already been listed for sale for more than a year with the price reduced at least once. Hamer-Jackson had planned to use the proceeds to repay his mounting debts.

If it doesn’t sell by Sept. 1, or he doesn’t find another way to repay the $450,000 loan, the bank can take the reins on the sale, according to court documents.

BC Assessment last valued the 260 Victoria Street West car dealership at $921,200, but Hamer-Jackson is currently asking $3.6 million after initially listing it for $5.6 million.

According to BC Assessment, similar properties on that street have sold for far less within the last year, both hosting service garages. Last October, 154 Victoria Street West sold for $1 million and, last May, 229 Victoria Street West sold for $1.4 million.

Aside from the Beem Credit Union debt, Hamer-Jackson has an unknown amount of outstanding property taxes, and he’s facing court action from the Bank of Nova Scotia over more than $100,000 in credit card debt.

He also owes one of his former lawyers around $42,000 and could be forced to repay Coun. Katie Neustaeter for damages and her legal fees. The results of court action over legal fees for another of his previous lawyers, Dave McMillan, remain sealed.

Hamer-Jackson plans to run for re-election in October 2026.