ON Economic Fundamentals 2008-09

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0908YRHL

North Leslie lands battle about to be renewed

A battle longer than the Second World War continues to rage over the fate of the biggest undeveloped parcel of land in Richmond Hill.

In the spring, Richmond Hill and York Region will gird themselves for another fight before the Ontario Municipal Board over the North Leslie lands.

At issue is the future of 1,500 acres of land between Leslie Street and Hwy. 404, north of Elgin Mills Road.

http://www.yorkregion.com/News/Richmond%20Hill/article/81955

 

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0908TNTO
Where the smart money`s heading

With home sales cooling, prices moderating and a healthy housing inventory, market realities not seen recently will shape buyers` decisions over the next 12 months.

Whether you are looking for a condo, a luxury home, a house in the mid-price range or a recreational property with the potential to become a permanent residence, there are certain areas that will hold their value in recessionary times.

So, where should the smart money go? Which areas represent the best return for your money? Where will your investment provide the best quality of life?

Globe Real Estate asked four top agents, each an expert in his field, which areas buyers should be exploring.

http://www.theglobeandmail.com/servlet/sto...RealEstate/home

 

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0908TNTO
Historic 1881 mansion moved (very slowly) to make room for condos

The historic James Cooper Mansion shifted more than 20 feet from where it had nestled for more than a century, but those walking by yesterday could barely notice.

"What`s going on here?" one woman said while the 7,000-square-foot building was sliding over several feet as she spoke.

The mansion just south of Bloor and Sherbourne streets was moved westward in small increments of about three feet per minute, and it took more than three hours to complete the journey.

http://network.nationalpost.com/np/blogs/t...for-condos.aspx

 

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Ontario Small Towns Update:2008-09-28

 

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0908ONTR
Prairie call to Ontario jobless: Go West

As thousands of Ontario`s laid-off manufacturing workers face the reality of fewer job opportunities, politicians from Saskatchewan are visiting Toronto this week in hopes of luring skilled labourers to the Prairie province.

Premier Brad Wall will be at Toronto`s National Job Fair to sing the praises of the employment opportunities in his province.

"We have a labour shortage, we have a people shortage in Saskatchewan," Wall said in an interview from his province last week.

http://www.thestar.com/News/Canada/article/508003

 

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0908BAOR
Another hurdle for proposed plant

The screws are being tightened on Northern Ethanol`s plans to build a plant in Barrie. City councillors will consider a motion tonight that could lead to changes in Barrie`s planning laws, severely restricting where an ethanol plant could operate.

It asks that a public meeting be scheduled to consider changes to Barrie`s Official Plan, which affects land designation, and the city`s zoning bylaw, which affects land use.

One is that an ethanol facility not be permitted within 1,000 metres, or one kilometre, of any sensitive land use -- residential areas, schools, hospitals or churches -- or any other ethanol plant.

http://www.thebarrieexaminer.com/ArticleDi....aspx?e=1223263

 

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0908OTWA
Old Chelsea development plan heads toward vote

Residents submitted three petitions late last week opposing the proposed Chelsea Creek housing development in Old Chelsea, forcing the municipality to begin a process that could lead to a referendum on the controversial project.

The mixed residential and commercial development would be built on a farm near the entrance to Gatineau Park on the southeast corner of Highway 5 and Old Chelsea Road. It was to have 283 housing units, including an 81-room long-term care home and a mixture of shops and offices, tripling the size of the community, but developer Mark Shank has dropped plans for the nursing home and reduced the project to 197 units.

http://www.canada.com/ottawacitizen/news/c...0e-03a235852c2a

 

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0908ONTR
Ont. must change its ways, TD bank says

OTTAWA - The days of Ontario driving the nation`s economic engine are over and the province needs to embrace a "sweeping" new economic vision -- which might include a carbon levy in order to finance much-needed corporate and personal tax cuts, says a report from senior economists at the Toronto-Dominion Bank.

"With much of Ontario`s economic success driven by advantages that no longer exist, a new direction is required," say Don Drummond and Derek Burleton in their report.

http://www.canada.com/edmontonjournal/news...68-6b029be151e4

 

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0908TNTO
GTA homeowners face a hit

Homeowners in the GTA are about to get kicked in the assessment.

The Municipal Property Assessment Corp. is in the process of mailing out 4.7 million notices across Ontario that show an average increase in home values of 20%.

Assessments to York Region homeowners are in the mail with the rest of the GTA`s notices expected through the middle of next month and into November.

Toronto Councillor Michael Walker warned some homeowners in the city are about to get "whacked."

http://www.torontosun.com/news/torontoandg...926241-sun.html

 

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0908ONTR
Duncan sounds Ontario economic warning

Ontarians should gird for "tough times ahead," Finance Minister Dwight Duncan warned as he released figures showing the economy shrank slightly in the first six months of the year, despite slight growth in the second quarter.

"There`s more uncertainty than I would like as finance minister," Duncan acknowledged yesterday, as the U.S. financial crisis worsened.

http://www.thestar.com/News/Ontario/article/508652

 

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0908TNTO
Landlord licences proposed to finance inspections

A new staff report outlining ways to tackle the problem of poorly maintained buildings in the city – including the option of licensing Toronto landlords – will go before the mayor`s powerful executive committee in November.

The long-awaited report, now into final drafts, explores ways to strengthen the building inspection system by responding better to complaints.

But there`s another, possibly more contentious option in the report, one that would be proactive rather than complaints-based. It would use landlord licensing fees to cover the cost of inspections.

http://www.yourhome.ca/homes/article/508642

 

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0908TNTO
Toronto Builds For Future

Mayor David Miller yesterday unveiled a proposal that aims to tell the world Toronto is open for business.

The plan would create two new arm`s-length corporations for Toronto in a bid to aggressively court international investors, spur strategic job creation and generate revenue from under-used city property. The new entities, to be called Build Toronto and Invest Toronto, would work to "unlock the value" of the city`s vast real estate holdings - approximately 7,000 properties worth an estimated $18-billion.

http://www.nationalpost.com/todays_paper/s....html?id=849383

 

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0908LNDN
Council buys into Capitol idea

London city council voted last night to spend more than $5.6 million to save the facade of the Capitol Theatre and convert the interior for civic offices, agreeing to a 20-year lease that nearly split politicians down the middle. By a vote of nine to seven, council rejected calls for a better deal for taxpayers, arguing the lease was the best that could be done to save the Capitol and jump start the central core along Dundas Street.

http://lfpress.ca/newsstand/News/Local/200...925736-sun.html

 

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0908CATH
Councillors praise townhouse proposal for former school site

A new apartment building and townhouse development on the site of the former Grey Gables School is exactly what west St. Catharines needs, city councillors said Monday.

The eight townhouses approved for Dexter Street and the seniors apartment building approved next door on St. Paul Street West "are a good mix of density types," acting city planner Judy Pihach told councillors.

"This is a good reuse of this property."

Councillors agreed to fast-track the condominium

http://www.stcatharinesstandard.ca/Article....aspx?e=1225456

 

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0908CATH
Property owners facing new rules

If your property assessment notice arrives in November with bad news, you`ll have to act fast.

Under new rules, you only have about five months to submit a request for reconsideration.

The old deadline gave you more than a year, but the new deadline for requests is March 31, 2009, Penny Christie, municipal relations representative for the Municipal Property Assessment Corp., told St. Catharines city councillors Monday night.

But the good news is that under the new rules, if a disputed assessment makes it all the way to the assessment review board, reverse onus will apply. That is, MPAC officials will have to prove why they believe their assessment of the property`s value is accurate, instead of the old system, which required disgruntled property owners to prove MPAC was wrong.

http://www.stcatharinesstandard.ca/Article....aspx?e=1225446

 

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0908BTFD
Builder`s project sparks opposition

Builder Mike Quattrociocchi`s attempt to start work on the second phase of his controversial Grand River Avenue housing project is meeting resistance from neighbours and Six Nations activists.

Floyd and Ruby Montour paid Quattrociocchi a visit Monday morning at the site, near Jarvis Street, where his company, Mayberry Homes, is about to build 20 housing units.

The two native activists warned the builder they are opposed to his second phase, just as they protested the first one built a year ago next door. And said they want him to consult with the native organization Haudenosaunee Development Institute.

http://www.brantfordexpositor.ca/ArticleDi....aspx?e=1224801

 

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0908BAOR
Downtown renos looking up

In almost two decades as a downtown merchant, Mariano Tulipano can`t remember more building improvement projects on the go in the city core.

"We`re certainly seeing more buildings under some form of renovation than at any other time since I`ve been down here," said Tulipano, who opened Downtown Computers in 1995.

Scaffolding, ladders, orange cones, drop cloths, caution tape, hoardings and other signs of facelifts and interior makeovers have been evident on virtually every block.

http://www.orilliapacket.com/ArticleDisplay.aspx?e=1224714

 

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0908BAOR
Townhouse plan inches forward

The issue of the evening was drainage as city council considered a proposed redevelopment on Davey Drive.

Nine, three-storey freehold townhouses are proposed for 1.15 acres of waterfront property that currently houses the Silver Swan Motel Villa.

On Monday night, council approved a zoning amendment to allow for the construction of the townhouses and held a public meeting for a draft plan of subdivision.

Drainage has long been an issue on Davey Drive where Lake Couchiching floods low-lying properties and the road-during high-water periods. Residents in the area remain concerned the situation could worsen once the property where the townhouses will be built is elevated by 1.28 metres (approximately 4 feet) to meet requirements.

http://www.orilliapacket.com/ArticleDisplay.aspx?e=1225116

 

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0908BAOR
Hydro merger OK`d

There are no more crossed wires on the Barrie Hydro-PowerStream merger.

City council gave final approval to the union last night with PowerStream, a Vaughan-Markham company, that could take effect Jan. 1, 2009.

The vote was 7-3, with Couns. Mike Ramsay and Barry Ward, along with Mayor Dave Aspden, opposing the merger.

"We are giving away the farm," said Aspden, who noted that owning Barrie Hydro exclusively is a selling point for the city -- especially when it comes to attracting business.

http://www.thebarrieexaminer.com/ArticleDi....aspx?e=1224749

 

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0908OTWA
No matter which way you turn, Ottawa`s transit plans are in trouble

The biggest local issue in this federal election is money. Which party will really deliver the cash Ottawa needs, especially for a major transit expansion that is expected to cost between $2.4 billion and $2.6 billion over the next decade?

Area Liberal candidates say that they are the ones who can get the dough for transit, sewers and water. At a press conference last week, they promised $517 million in federal spending here over 10 years. That sounds like a lot, until you consider that the federal share of the transit expansion alone would be at least $800 million. The Liberals are promising just more than half that, if one includes money originally pledged for our now-abandoned light rail project.

http://www.canada.com/ottawacitizen/news/s...fa-fb2ec4a424c3