June 27, 2017
The Toronto Parking Authority nearly spent $2 million above market value to purchase this piece of land near Finch Avenue W. and Highway 400, the auditor general reports. (Google)
Councillors have warned the City’s Auditor General that the Toronto Parking Authority was poised to spend more than $2.5 million above market value for a piece of land and have called the incident “very disturbing.”. The city manager is now closely investigating what happened and will provide a report to councillors when completed. The site’s intended use would be for 70 parking spots for commuters using the future Finch LRT line.
Councillor Josh Matlow says he wants the city’s integrity commissioner to look into the case — something auditor general Romeo-Beehler suggested would be “appropriate” given some of the questions the audit committee has about the report.