We only wish. What you project is what I'm stating. *When* proposals to develop the land via re-zoning occurs, "offsets" (read what I posted earlier, and it's not just Section 37, which is specific) can stipulate a good amount of the land is given over to park, either held by the developers as a consortium, that is open to the public, but maintained in perpetuity of ownership, or turned over to the city. Chicago couldn't afford to upkeep Millennium Park, how is Toronto going to afford one even larger with a lower tax base?
Best you read this:
PARKS IN CRISIS part 3: The perils of cash-in-lieu
April 15, 2015 | By
John Lorinc
http://spacing.ca/toronto/2015/04/15/parks-crisis-perils-cash-lieu/
And this:
[“There currently are not enough funds in city cash-in-lieu of parkland reserves to fund all needs,” staff wrote in a report ahead of the upcoming government management committee meeting.]
https://www.thestar.com/news/city_hall/2016/09/05/can-the-city-fund-two-new-downtown-parks.html
And this:
City's rail-deck park dream depends on securing air rights
Mayor’s proposal hinges on negotiations with rail companies, but Vancouver has important fight in court.
https://www.thestar.com/news/city_h...ark-dream-depends-on-securing-air-rights.html
And this:
https://thislandisparkland.com/2016...-for-downtown-toronto-the-trouble-with-money/
So please point me to reference as per "City already has funds" (or a large portion of it anyway)
Meantime, in the Windy City:
http://chicagoist.com/2008/10/23/millennium_park_costing_city_millio.php