Boards will not profit from land sales

Why the TDSB can’t make money-selling school sites.

It is simple, really. Most school sites are zoned for institutional use. Some are zoned low density matching the community where it is situated.

When the board goes the sell the land there is no guarantee that they can get it rezoned to a higher density to maximize profits. In fact, today, with the plans for infill housing, re-zoning is not that much of a problem. But with no guarantee, the land sells at a lower price.

The board could try to re-zone empty land before it sells it but a board of education is a political being and would be very reluctant to make such an unpopular move.

So it will have to sell much of its land at fire sale prices. Not only will the property be lost to public use, once the developer gets it re-zoned, it will be developed at a higher density than the surrounding community and the board will end up with not much cash to show for it.

But politically the board is being forced to do this foolish thing.

Resistance is not futile.