artyboy123
Senior Member
very well made documentary it's director by the same person who made http://www.theresnoplacelikethisplace.com/
- Thread starter vistaway
- Start date
very well made documentary it's director by the same person who made http://www.theresnoplacelikethisplace.com/
rdaner
Senior Member
I am sure that this will be shown at many locations around the city as well as the ADFF.
generalcanada
Senior Member
So they appealed this https://www.canadianarchitect.com/o...-launches-appeal-with-ontarios-highest-court/
Appeal document here: https://drive.google.com/file/d/1mSxECuhi2M2949Apz08KvAMMrYJvp5bM/view
Not a lawyer, but its going to be a few months before decision to take appeal up is even granted.
evandyk
Senior Member
Throwing good money after bad.
Northern Light
Superstar
Technical Briefing from Infrastructure Ontario on the Land Lease at Ontario Place, at 1pm today.
news.ontario.ca
Ontario Newsroom
news.ontario.ca
kotsy
Senior Member
Bayer
Senior Member
generalcanada
Senior Member
CBC with the summary
we already know about is the 700 million in costs from Therme, including 200 million for shoreline work and public space. I remember that number as 600 million awhile ago I think
Rent payments average about 20 million a year over 95 years. (numbers are off here its much higher)
Apperently Ontario is on the hook for 25 million for flood mitigation and shoreline repair. Im guessing that includes the pods?
Very suprising is the 15 year opt-out if notice is given 10 years in.
Parking lot is mentioned in the lease with 1800 spaces. though the government wants 2500
Overall, I like the transparency here.
we already know about is the 700 million in costs from Therme, including 200 million for shoreline work and public space. I remember that number as 600 million awhile ago I think
Rent payments average about 20 million a year over 95 years. (numbers are off here its much higher)
Apperently Ontario is on the hook for 25 million for flood mitigation and shoreline repair. Im guessing that includes the pods?
Very suprising is the 15 year opt-out if notice is given 10 years in.
Parking lot is mentioned in the lease with 1800 spaces. though the government wants 2500
Overall, I like the transparency here.
generalcanada
Senior Member
Ford government releases Ontario Place lease, including rent and parking details | Globalnews.ca
Infrastructure Ontario published the lease it signed with Therme on Thursday, with the government touting the benefits it claims the deal will bring for taxpayers.
globalnews.ca
Province estimates Therme will pay it $1.1B in direct revenue over 95-year Ontario Place lease
The province’s infrastructure agency released Therme’s lease of Ontario Place’s west island on Thursday
www.thetrillium.ca
- property taxes utilities and fees are owed to the city
- 1.1 bil in rent payments. So about 14 mil per year over 75 years
- 855 mil in "maintenance payments". This the part where Therme maintains the beaches and trails, I think. Its about 12 million per year
- combined to about 26 million per year
- rent is paid based on 3.5% of the land value, indexed to inflation starting in 2025 which amounts currently to 2 million. Little surprising theyre paying rent on the land when the spa isn't even built.
- Rent seems to ramp up after 2034 where its around $40 million a year
- total of 84 million per year between 2034 and 2044. Unclear if thats total or per year
- If Therme beats preformance expectations the government gets millions extra starting in 2034
innsertnamehere
Superstar
and there we go. All the useless speculation about the province handing out massive amounts of subsidies to Therme can go away. The Government is *making money* on this, even including the parking structure.
What I would be interested to see is details on the parking structure financing. As it's a paid structure which will likely achieve fairly strong occupancy rates, I suspect it won't need much, if any subsidies and any that are required would come from the lease revenue.
What I would be interested to see is details on the parking structure financing. As it's a paid structure which will likely achieve fairly strong occupancy rates, I suspect it won't need much, if any subsidies and any that are required would come from the lease revenue.
UtakataNoAnnex
Senior Member
You seem awfully confident in this when this government has demonstrated contempt of process in most other things when it comes to deals with the private sector. Not to mention, the summery list posted by generalcanada-san seems to have a lot of what ifs baked in it. But hey, don't let that rain on this parade, I guess...
generalcanada
Senior Member
Thats me reading news articles 10 minutes after it got released, instead of nitpicking, try giving it some time, maybe read the lease yourself and the answers will clear up.
We dont need to know exactly how much the rent will be in 2045, a guideline is completely fine
UtakataNoAnnex
Senior Member
I am being skeptical with an arrangement by a government that has given the public reasons to be skeptical of. So there is nothing wrong with that...
That being said though, I will always have open mind in case things do in fact go north with this...a broken watch tells the correct time twice a day, so we never know! But I am certainly not going to be holding my breath here, lol.
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picard102
Senior Member
So all in all a lot better than what was there before where the province was subsidising Ontario Place even when they charged admittance.Ford government releases Ontario Place lease, including rent and parking details | Globalnews.ca
Infrastructure Ontario published the lease it signed with Therme on Thursday, with the government touting the benefits it claims the deal will bring for taxpayers.Few more clarifying notes from the star, global, and trilliumProvince estimates Therme will pay it $1.1B in direct revenue over 95-year Ontario Place lease
The province’s infrastructure agency released Therme’s lease of Ontario Place’s west island on Thursday
- property taxes utilities and fees are owed to the city
- 1.1 bil in rent payments. So about 14 mil per year over 75 years
- 855 mil in "maintenance payments". This the part where Therme maintains the beaches and trails, I think. Its about 12 million per year
- combined to about 26 million per year
- rent is paid based on 3.5% of the land value, indexed to inflation starting in 2025 which amounts currently to 2 million. Little surprising theyre paying rent on the land when the spa isn't even built.
- Rent seems to ramp up after 2034 where its around $40 million a year
- total of 84 million per year between 2034 and 2044. Unclear if thats total or per year
- If Therme beats preformance expectations the government gets millions extra starting in 2034
kotsy
Senior Member
The amount of trees taken down already is much more than I thought. The West Island is pretty much decimated.
