Toronto is a city that appears to have it pretty good, as far as cities go. But a panel set up by the Mayor has reported some significant shakeups required to ensure the forward sustainability of the city…
TheStar.com | GTA | Raise taxes, sell land: City report
Toronto is not in a fiscal crisis but Hutcheson said the city’s debt load is a big problem and that “the status quo is unsustainable.”
“The city has chronic expense problems, chronic revenue problems and a mountain of ambitious capital projects,” he said.
Hutcheson said moves the panel is recommending could “unlock massive amounts of money” for the city to use in the future.
With talk of tolls, land sales, and de-unionising of some jobs, preliminarty reports suggest that up to $50 million dollars in efficiencies can be found this year! This goes to show that a large city can hide the inefficiencies as well as anyone else, but it’s great to see these problems being tackled head on. Cities need to improve the efficiency of services and planning to ensure that critical infrastructure and maintenance issues can be budgeted equitably. Click here to read the article.
Technorati Tags: Toronto, economy, economic, municipal, minicipality, city, cities, Canada, Ontario, revenue, infrastructure, planning, sustainability
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