“The Toronto Lands Corporation was created in September 2007 and incorporated in April 2008 as a wholly-owned subsidiary of the Toronto District School Board. The TLC’s mission is to maximize the Toronto District School Board’s real estate revenues in order to reinvest in TDSB schools and students.”
Thus says the Mandate statement of the TLC but does it do what it says.
The Board saw it as a way to sell off the twenty to thirty school properties that it was planning to close for big bucks. But where are those big bucks?
The TLC was created in the hope that blame for the sell off of our community’s assets could be deflected from the trustees who have the final say. But that will not happen. Communities will remember, as the condominiums are being built, that when their local trustee pushed them to agree to close a viable local school that trustee vowed to fight to keep the neighbourhood green space. They may not remember ten or twenty years from now as portables are eating up the playing fields of their children’s school that those condominiums replaced the school that they so desperately need now.
As far as I can see, on its web site there is no real assessment of how beneficial the TLC is to the Board. Oh, yes it does manage some pools and leases but that could have been done by a couple of Board employees earning under $50,000 a year like it used to be. CEO Hoy makes a reported $200,000.
So where is the value for money audit of the TLC. According to my reading of its 2011-12 proposed budget the TLC will actually cost the Board 1,739,018 to opperate this year.
You might argue that it is too soon for that. You could say wait until some properties are sold. But how long can we wait? It has been almost five half a years now.
Most of the sales they have made were to public bodies like the city and the Catholic Board. But those bodies have a right under the Education Act to buy them before they are offered to the public. So the TLC did not improve the Boards revenue in those transactions. I believe that most if not all of the $150 million dollars in sales that the TLC boasts about since 2008 could have been collected without the fancy, expensive and politically amorphous body.
It looks like only about 20 acres or so have actually been sold to the private market. Is that a justification for the operation of the expensive TLC? I think not.
But who am I?
I am not one of those who want the Board to sell off as much land as possible in spite of its own predictions of increasing enrolment needs. I am someone who believes that the lands that the Board owns are irreplaceable valuable assets. I am out of step with the program.
Now your could argue that there will be 20 or so schools down the line to sell of and more as the board ramps up its school closing process again. But the political opposition to that is growing and there may not be enough closings in the future.
So prove me wrong. So let’s hold a real audit of the TLC.
