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.

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Published on April 21, 2009 at 8:10 am  Comments (2)  

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2 CommentsLeave a comment

  1. On behalf of the recently organized Heathercrest Community Green committee, I cannot agree with you more.
    Please see link to attached news article which outlines our fight here in Etobicoke. (feel free to post on your
    news article link.

    http://www.insidetoronto.com/news/local/article/160458–central-etobicoke-park-s-future-uncertain

    Also check out our video posted on…

    In the TDSB’s desperate rush for quick cash injections to fund emergengy school re-development projects, their ill advised and short sighted policy to liquidate properties at fire sale prices is claiming unintended victims. They are ripping apart the fabric of local communities and the environment. Irreplaceable community greenspace is being sacrificed forever for short term monetary gain. Shame. Ironically, the new practice is in conflict with the Board’s own “green” policies. Double shame. How many other parks and greenspaces are up for sale?
    Our fight has just begun….

    Parks NOT Profit$
    The Heather Crest Community Green Committee

  2. The West Kingsway Ratepayers’s Association is holding a Rally Saturday April 10th from 2-4 pm to show support for lands deemd surplus by the TDSB. We are asking that the city purchase these lands to be maintained as parkland and a soccer field. Th Rally is being held at 80 Lothian Avenue behind the Fairfield Seniors’ Centre Bloor/Islington.
    Join us !!


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