k10ery
Senior Member
It may well - but Waterfront Toronto's inaction and dithering have lead to an agency that has achieved much less than it could have. Good grief, why haven't they put mechanisms in place to fund Waterfront development from development fees ... just like any other city would have done. Essentially we are building a new chunk of city ... this doesn't cost other cities on the bottom line - some even manage to use development fees to keep taxes low as well!
I don't think WT can be blamed. They brought out a beautiful plan and wanted to do it all in one phase. The city came up with this cockamamie scheme to break it into two projects. TTC should have said that was impossible last year not now.
It's too bad WT has to go cap in hand to Ford now. But would you really give tax powers to an unelected nonprofit corporation?
If the city won't approve reallocation of funds now, then McGuinty could still make it so. Of course he won't want a fight with Ford before the election.
Last edited: