With the final public consultation meeting scheduled for the Sidewalk Labs smart-city project less than two weeks away, government agency Waterfront Toronto is indicating that it wants to go ahead with the project, and that it’s ready to put hundreds of millions of dollars behind some of the key proposals.
Waterfront Toronto chief executive George Zecarac also said he expects to put most of the $590 million generated by selling the land for the proposed development back into affordable housing and other services for the new neighbourhood. After those issues were resolved, Waterfront Toronto staff set about evaluating what was left of the MIDP.
On May 20 the Waterfront Toronto board will vote on whether to proceed with a rough sketch of the project, based on the evaluation and negotiation done to date; then by the end of the year, the board will vote on a final negotiated deal for the development. Andrew MacLeod, the chief executive of Postmedia Network Inc., which owns the Financial Post, is a member of the board of directors of Waterfront Toronto.
On Tuesday, Waterfront Toronto also released a report by an “evaluation committee” which broadly concluded that Waterfront Toronto staff has been doing a good job of evaluating the proposals. The evaluation committee also said that people should think more about the downside of the project being killed, and not just focus on the potential downsides associated with the project going ahead.
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