Errol
New Member
Today the Toronto Lands Corporation (TLC) submitted a report to the Toronto District School Board’s (TDSB) recommending the sale of 31 of the 98 surplus properties not currently operating as TDSB schools in order to raise 100 million dollars.
That is a lot of money but it is like a drop in a ocean when there is over a billion dollars of repairs needed to the 650 remaining board buildings.
In order to balance its budget that is set by the Ministry of Education, the TDSB has pulled 40 million dollars out of its capital program for at least two years running.
Selling these lands will not materially improve the schools in our city but it will move 100 million dollars of public assets into the private sector.
The TLC calls this a “balanced approach.†I supposed they could have recommended that the board dump all 98 properties on the market.
One more point, with land values set to plummet in reaction to the US housing crisis, why are we looking to sell off these lands?
For more on this see my blog at saveschools.wordpress.com
That is a lot of money but it is like a drop in a ocean when there is over a billion dollars of repairs needed to the 650 remaining board buildings.
In order to balance its budget that is set by the Ministry of Education, the TDSB has pulled 40 million dollars out of its capital program for at least two years running.
Selling these lands will not materially improve the schools in our city but it will move 100 million dollars of public assets into the private sector.
The TLC calls this a “balanced approach.†I supposed they could have recommended that the board dump all 98 properties on the market.
One more point, with land values set to plummet in reaction to the US housing crisis, why are we looking to sell off these lands?
For more on this see my blog at saveschools.wordpress.com