ON Economic Fundamentals 2009-01

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0109DCLR
Toronto banks could impact Clarington taxes

CLARINGTON -- A decision on bank towers in downtown Toronto could have implications for the amount of property taxes paid by Clarington`s citizens. Recently, the Assessment Review Board (ARB) of the Municipal Property Assessment Corporation (MPAC) ruled that for assessment purposes, current value could only be based on the interest of the owner of the building, not the tenant. The ruling means the buildings must be valued as if vacant. That means, any value added by tenants, including in the form of building improvements, couldn`t be considered when determining the value.

http://newsdurhamregion.com/news/clarington/article/117334

 

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0109OKVL
Oakville strays from its routes

Growth and changing travel patterns, including more cross-regional trips, are behind a complete makeover of Oakville`s bus service planned for this year.

The town, which has traditionally planned its routes for GO commuters using the Bronte, Oakville and Clarkson stations, is moving from the existing radial route design to a grid-based system this fall.

While the existing system is great for GO commuters, it doesn`t work that well for getting across town, says transit director Barry Cole.

http://www.thestar.com/GTA/Transportation/article/571306

 

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0109ONTR
Icy economy fells Nortel

Canada`s Nortel Networks has fallen into bankruptcy protection, pushed by a deepening recession that is now expected to kill economic growth for this entire year.

Once a proud symbol of this country`s high-tech achievements, Nortel`s filing for protection from creditors caps a stunning fall from its peak in 2000, when it had a market value of $350 billion (U.S.) and alone represented more than 36 per cent of the Toronto Stock Exchange`s main index.

http://www.thestar.com/Business/article/571325

 

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0109BTFD
No, it`s not all doom and gloom

Job losses and plant closings are dominating the headlines but those who follow the local economy say the news isn`t all bad.

Local business leaders say there is some good news amid the gloom and doom.

"We tend to hear about the big companies when they`re shutting down or laying off people but we don`t always hear about the smaller companies," Cindy Swanson, Enterprise Brant general manager, said Wednesday.

"In the last few years, that`s where a lot of our growth has come from -- smaller companies.

http://www.brantfordexpositor.ca/ArticleDi....aspx?e=1388234

 

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0109BAOR
Condo developer delighted with ruling

The developer of a 144-unit luxury condominium project on Orchard Point is pleased the Ontario Municipal Board roundly endorsed the project in a decision released on Tuesday.

"I`m delighted," said Mike Bowering of the Mutual Development Corporation.

"We expected some sort of approval, but this is unconditional."

Neighbours who fought the project were hoping the OMB might require the six-and eight-storey buildings to be reduced in size to conform more with the adjacent single- family homes and cottages.

http://www.orilliapacket.com/ArticleDisplay.aspx?e=1388593

 

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0109OTWA
Council votes to consider second bridge plan

City council narrowly voted yesterday to ask the National Capital Commission to include a possible interprovincial bridge at Lower Duck Island in the next phase of its project aimed at getting another Ottawa River crossing in the city.

However, immediately after the 12-11 vote, Orléans Councillor Bob Monette successfully moved to have the decision reconsidered at the next council meeting.

http://www.ottawacitizen.com/news/Council+...8343/story.html

 

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0109HAMN
Council vows building permit crackdown

City councillors want to crack down on home builders who start construction without proper permits.

According to the city`s own research, roughly 17 per cent or one out of six new houses being built in Hamilton over the first half of 2008 was under construction before a building permit was issued.

http://www.thespec.com/News/Local/article/496408

 

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0109KWCG
$25M; Rapid transit gets big commitment from regional council

WATERLOO REGION

Regional council voted yesterday to spend up to $25 million on rapid transit, in a community where almost everyone drives and few ride transit.

It would be the first of many payments on a project intended to draw buildings, jobs and residents to urban neighbourhoods. Council approved the funds yesterday during its annual budget process.

http://news.therecord.com/News/Local/article/472184

 

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0109KWCG
Local projects ready to go if federal funding offered

KITCHENER

Local municipalities are letting the federal government know they have $163 million in infrastructure projects ready to go, as soon as Ottawa frees up funding.

Kitchener alone has $15 million in work that could start this spring if the federal government begins funding infrastructure projects as part of an economic stimulus package. The City of Waterloo, the Township of Wellesley and the Regional Municipality of Waterloo also submitted their lists of construction-ready projects, making up the $163 million total.

http://news.therecord.com/News/Local/article/472192

 

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0109KWCG
Medical centre may open in south end

GUELPH

Todd Dennis welcomes news that a group of physicians is seeking to open a south end medical centre.

The acting chair of the Clairfields Neighbourhood Group said he would appreciate not having to travel to Brampton, where he once lived, to see a doctor.

It`s a similar issue for his wife and daughter, who must travel to Kitchener.

"We`re all for this," Dennis said of the proposed south Guelph medical centre. "It`s a no-brainer."

http://news.guelphmercury.com/News/article/427133

 

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0109YNEW
Summerhill homebuyers may go to court to get money back

Summerhill Woods homebuyers want their money back and are willing to go to court to get it.

They expressed that ultimatum during a standing-room-only public meeting regarding the elevated levels of arsenic found in the soil in the woodlots surrounding the under-construction subdivision near Mulock Drive and Bathurst Street in Newmarket. Homebuyer Nancy Preston is angry with the developer`s decision not to disclose the problem before selling the 111 homes near the contaminated soil.

http://www.yorkregion.com/News/Newmarket/article/86742

 

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0109DAJX
Study to start on rebuilding Ravenscroft Road

AJAX -- The environmental assessment for the reconstruction of a portion of Ravenscroft Road should begin shortly. Ajax council approved a recommendation to award the contract to conduct the EA to the consulting firm of R.V. Anderson Ltd.

http://newsdurhamregion.com/news/ajax/article/117508

 

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0109DOSH
Should developers finance municipal election campaigns?


OSHAWA -- When Brian Nicholson first ran for an Oshawa council seat in 1985, he had to borrow the $3,000 it cost him to run his campaign.

These days, the veteran politician doesn`t have to look far for donations but he often thinks about the new hopefuls coming up behind him and wonders how they bankroll their shot at office. "Unless you`re independently wealthy, you`re going to have a hard time," he said. "And we don`t want this to be something that`s only open to the rich."

http://newsdurhamregion.com/news/oshawa/article/117512

 

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0109DSCG
Snowmobiling: A driving force in north Durham`s winter economy

SCUGOG -- Creeping along a beautiful stretch of trail in a bright yellow groomer, Brian Johnston deftly steers the nine-tonne machine up and down hills and around tight turns while keeping a sharp eye on his rear-view mirror. It`s a tricky job, one that certainly requires plenty of dexterity and concentration, keeping the nearly 200-kilometres of trails that the Port Perry Snowmobile Club maintains clean and even for the countless winter enthusiasts that make use of the winding trail system.

http://newsdurhamregion.com/news/uxbridge/article/117464

 

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0109TNTO
Jarvis St. must change with evolving environs

As Toronto goes, so goes Jarvis St. In its heyday during the late 1800s, Jarvis was the place to live; Masseys, Mulocks and Cawthras could be seen there, as could Ontario Premier Oliver Mowat. The mansions were among the grandest in the city and the parks exquisite.

But then came the car and after that suburbia. Jarvis was abandoned and by the 1960s had been turned into a dreary north/south artery that was the quick way out of the downtown. The street had fallen into a downward spiral from which it has yet to emerge fully.

http://www.yourhome.ca/homes/article/571986

 

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0109TNTO GTA
TTC a barrier to transit plans, Metrolinx says

Metrolinx wants the province to designate it a mega-transit authority, with the power to decide where TTC and other regional transit systems will pick up passengers, and which fares and transfers riders use when crossing city borders.

In a frank report to the Metrolinx board – hastily withdrawn earlier this week from the online agenda for today`s meeting – Metrolinx staff accuse the TTC of being the major obstacle to a fully integrated route and fare system in the region.

http://www.thestar.com/GTA/Transportation/article/572011

 

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0109WIND
U.S. pushes ahead with new bridge

A new bridge that will link Windsor and Detroit crossed a key hurdle late Wednesday when the U.S. government gave final environmental approval for the multi-billion-dollar project.

The decision allows the State of Michigan to begin property acquisitions and design work.

"It`s a key milestone to ensure this project moves towards construction," Doug Hecox, spokesman for the U.S. Department of Transportation, said Thursday. "This signifies, as far as the U.S. government is concerned, all environmental reviews have been completed," Hecox said. "This has been a pretty rigorous process. What this decision does is indicate everything looked at is fine."

http://www.canada.com/windsorstar/news/sto...c6-4d873b56ed0b

 

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0109HAMN
1 in 3 city homes fail lead test

One in three homes with lead pipes that were tested by the city had unsafe drinking water.

Mandatory testing done last fall on 116 homes with lead pipes found 38 of them exceeded Ontario`s maximum allowable concentration for lead in drinking water of 0.010 mg/L.

One was as high as 0.064. The rest were between 0.011 and 0.03

http://www.thespec.com/News/Local/article/497133

 

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0109MSGA
Taxes to rise

Mississauga homeowners will pay, on average, an additional $64 next year on the Peel Region portion of their property tax bill.
The money, which translates to a 4.1 per cent tax hike, will help pay for more front-line police officers and improved social services, say Regional councillors, who yesterday approved Peel`s $1.5-billion budget for 2009.
The increase amounts to $64 for Peel residents whose homes are valued at $342,000. In addition, homeowners` water and wastewater bills will increase by $28.

http://mississauga.com/article/23039

 

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0109TNTO
Condo Critic: Treating the past with respect

The past may be a different country, but in Toronto, people still live there – and even more now want to. That doesn`t mean it`s any easier coming to terms with the relationship between old and new. And yet, it is a relationship that lies at the heart of all urban growth – or that should.

http://www.yourhome.ca/homes/article/571215