Around Town: Toronto government wary of low borrowing rates

Rita Madarasz, Metro Municipal leaders have something of a dismal record on approving new housing projects – they’ve already approved all the permits they need for the year, and major developments already getting the…

Around Town: Toronto government wary of low borrowing rates

Rita Madarasz, Metro

Municipal leaders have something of a dismal record on approving new housing projects – they’ve already approved all the permits they need for the year, and major developments already getting the green light have hit a speed bump as a result. Some council votes are being held until after the new year to see whether city councillors stand up for the long-awaited “groundswell” of support for affordable housing in Toronto. The plan has been in the works for almost a decade, and is planned to include 62,000 new units. Read more here.

Joanna Smith, Metro

The Toronto city manager laid out seven housing and infrastructure priorities on Thursday, but they all involve financing problems. More than two years after councillors threw out a financing plan for $5-billion subway expansion and promised an independent costing, the head of the city’s standing committee on finance, services and economic development told reporters that it’s going to be tough for the city to borrow because interest rates are so low.

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Doug Saunders: The Canadian’s minimum wage will keep going up, and that’s not a problem

It’s an awkward moment for Ontario’s Premier Doug Ford, who has three municipal cabinet ministers but only one chairperson of a council committee that oversees housing and homelessness initiatives. That’s because several committees are chaired by the Premier – and yet he’s failing to garner real support for his plan to implement “modest tax cuts” for middle-income earners. James Munson looks at how the lieutenant-governor might break the stalemate.

Politics And Stuff: Steve Martin and the great Canadian theatre boycott

Steve Martin might be able to make music again. There’s a chance that Canadian theatre companies might, too. Late last week, the actor-musician informed his hometown newspaper that his lawsuit against the province of Ontario over a rule barring foreign-born Canadians from performing professionally was being put on hold in light of new legislation that would allow local actors to compete for roles. Martin is representing himself, and says the new legislation now that Act 3 of the Liberal government’s 2019 budget is expected to pass won’t affect his case. As he tweeted: “For more than 5 years, Canadian actors have been trained to play foreign roles. But it won’t matter with Ontario’s new laws.”

Luke Brodnikoff: Teachers can still profit from private-school tuition, Wynne’s office says

It’s been a bad month for anyone who owns Grade 12 shares in the publicly traded Ryerson Academy for Law and Business Students. Public markets were down more than 10 per cent in November, many small companies are down another 25 to 50 per cent, and before the fourth-quarter earnings season started, many private school companies were all in the red. But don’t fret, Ryerson students: Your teacher still takes a cut, at least if the recent licensing agreement with the Ontario Ministry of Education goes through as expected. Read more here.

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Steven Chase, Metro

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