Councillor Josh Matlow

Questionable land deal should be investigated by police, city’s audit committee told

June 27, 2017
Jennifer Pagliaro, Jayme Poisson
The Toronto Star

The Toronto Parking Authority was preparing to purchase this property near Finch Ave. W. and Hwy. 400.  (Bernard Weil / Toronto Star)

A recently revealed inflated land deal negotiated by the Toronto Parking Authority involving a seasoned lobbyist, a sign consultant and a city councillor should be investigated by police, the City’s audit committee heard Tuesday.

The site in question is a five-acre grassy plot of land located on the south side of Finch Avenue West between Arrow Road and an on-ramp for Highway 400 and the intended use was for parking spaces and the bike-share program.

Auditor General Romeo-Beehler concluded that the “(Toronto Parking Authority)’s actions created unnecessary risk of overpaying an additional $2.63 million” and that executives failed to obtain the independent evaluation required to determine fair market value.

Read more: Questionable land deal should be investigated by police, city’s audit committee told

2018-08-13T16:02:40+00:00
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