Beloved waterfront destination Harbourfront Centre is $1,391,621 behind in rent and taxes owed to the city according to the Toronto Star.
A report from the city outlines how a number of factors have contributed to the debt, including a $16 million dollar backlog in repairs, property tax increases on a nearby parking lot, and lack of support from public and private funding sources.
A working group formed by the city has stepped in to recommend forgiving the almost $1 million in debt and applying a $427,286 one-time grant to help Harbourfront Centre get back on its feet.
This rent and repair farce was used to get rid of some restaurants. LEAVE the children's harbourfront centre alone! Sherborne COMMON is exactly what it is COMMON! A $27 million dollar sand patch /polluted water spouts from a cement block with children prancing.....
— Mona M (@MuteSwanTruth) April 1, 2018
Part of the deal stipulates that Harbourfront will need to submit a business plan outlining how the organization intends to pay its taxes going forward.
What about a maximum wage at Harbourfront Centre? Management salaries are probably out of control. https://t.co/J5xfvRk1jd via @torontostar
— eli (@etcraftdelivery) March 31, 2018
The Harbourfront Centre has been under a 99-year lease to the city since 1997.
by Lisa Power via blogTO
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