Dear Friends,
Since 2011, my administration has been highly critical of the dealings at Waterfront Toronto.
I have repeatedly said that there is a complete lack of respect for taxpayers’ money at Waterfront Toronto.
I must stress that Waterfront Toronto does not report directly to me, or to Toronto City Council.
I assure you, that if they did, we wouldn’t be seeing any of this none-sense.
But at the end of the day, all government bodies are responsible to the taxpayers, who pay the bills.
Now, we are learning that Waterfront Toronto wasted $600,000 on a single public washroom facility.
That is roughly the cost of an average home in Toronto.
This included over $175,000 on design of the washroom alone.
This is simply the latest example in a pattern of blatant disregard for taxpayer’s money at Waterfront Toronto.
We recently learned that $1,000,000 was squandered on 2 rocks and 36 umbrellas at Sugar Beach.
Folks, this is not how taxpayers want their hard earned money spent.
The reality is, since 2001, we haven’t seen value for taxpayers’ money at Waterfront Toronto.
Under my predecessors, the City handed Waterfront Toronto $500 million of hard earned taxpayer money.
I have regularly raised my concerns with a lack of oversight over how this money is being spent.
I have repeatedly asked how much of this money was spent on consulting fees at Waterfront Toronto, since 2001?
Unfortunately, I still haven’t received a straight answer to this simple but important question.
However, what I have uncovered is truly shocking.
From 2011 to 2013 alone, over 33 lucrative consulting contracts were awarded by Waterfront Toronto.
Since 2001, Waterfront Toronto executives approved almost $75 million in “Corporate Costs”.
If taxpayers cannot trust the leadership of Waterfront Toronto to build a washroom, how can we trust them with billions of dollars to revitalize one of Toronto’s most important assets?
This latest example is the last straw.
The CEO of Waterfront Toronto must step aside and allow for the corporation to be steered in a new, fiscally responsible and accountable direction.