Ontario Economic Fundamentals

[joeiannuzzi]

$50 levy a must to pay bills

The shock! The horror! Taxpayers are going to get the bill for this winter`s huge snow-clearing effort. Who did we think was going to pay? Mayor Larry O`Brien`s plan to add a one-time $50 charge to our tax bills makes perfect sense. The alternatives are to pretend that the problem will somehow magically solve itself or to cut things the public doesn`t really want cut.

http://www.canada.com/ottawacitizen/news/c...ca-7010e5c6589f

 

[joeiannuzzi]

Staffing services the core of Ottawa`s tech success

Wayne Gudbranson has been tracking the country`s high-tech industry since 1993 through his Branham 300 rankings -- a period that has included a tech bubble, telecom crash and a mergers boom.

Last year`s snapshot of the industry, unveiled earlier this week, is remarkable for what it reveals about a tech industry coping for the first time with a strong Canadian dollar.

Companies that specialize in computer and telecom gear -- Nortel, Celestica and BreconRidge for example -- last year suffered a 15-per-cent decline in revenues compared to 2006.

http://www.canada.com/ottawacitizen/news/b...00-916d7feca47a

 

[joeiannuzzi]

Protect yourself from identity theft

Not too long ago, I received that dreaded phone call from my credit card company saying that my card had been compromised and they were issuing me a new one.

What a hassle.

I had to contact all the companies that automatically billed my credit card for pre-authorized payments and provide them with the new card number. But better safe than sorry.

Another time, we noticed that $500 was missing from our joint bank account, but neither my husband nor I had made the withdrawal.

http://www.thebarrieexaminer.com/ArticleDi...=Terri+Williams

 

[joeiannuzzi]

Highrise on horizon; Preliminary work well underway on Panoramic Point condos, which will stand as Orillia`s tallest building

The big, blue crane is up and ready to begin working on what will become the tallest building in Orillia.

The $30-million, eight-storey Panoramic Point waterfront condominiums will rise this summer at the former Brewery Bay Tennis and Sailing Club on Atherley Road, between the Leacock Museum and Tudhope Park.

The project has been a long time coming, said Mayor Ron Stevens.

"I think we`ve done two sod turnings already."

Situated between lakes Couchiching and Simcoe, the 98-unit building will have incredible views, said Stevens.

http://www.orilliapacket.com/ArticleDispla...uth=Colin+McKim

 

[joeiannuzzi]

Brampton to look at illegal apartment issue

BRAMPTON - Brampton city councillors will once again delve into the issue of illegal basement apartments as the debate in the community rages on. City staffers are compiling a report- with statistics and background information-- to be presented to council at an upcoming meeting. There is no date set, but it will come before councillors some time this spring, according to City Manager Deborah Dubenofsky.

"Council`s concern mirrors that of the public," Dubenofsky said. "How do we identify these units? How do we ensure the health and safety of the occupants, property standards and adequate servicing?"

http://www.northpeel.com/news/article/45145

 

[joeiannuzzi]

County growth continued in 2007

Dufferin County Building Department issued 940 permits for a work value of $71,76 million and permit fees of almost $788,000 in 2007, up from 757 with a value of $66.7 million and fees of about $708,000 in 2006.

The figures are contained in the department`s unaudited year-end report for last year. The department is responsible for all municipalities except Orangeville, which has its own building department.

http://www.citizen.on.ca/news/2008/0320/Front_Page/001.html

 

[joeiannuzzi]

Preem drops $1B surprise

GO Transit`s new buses should be getting a smooth ride on some freshly paved roads as the premier unexpectedly announced $1-billion in infrastructure spending yesterday, just hours after unveiling the double-deckers.

But critics were quick to hammer Premier Dalton McGuinty, claiming he was "selling out" Ontario by refusing to ensure that most of the money promised for infrastructure will be spent in the province, despite a last-minute pledge to buy "Canadian content" in public transit. McGuinty told reporters at GO`s main bus yard in Downsview that financing improved public transit is important for communities and the new two-level coaches -- which cost almost $1 million each -- are "good for the environment."

http://www.torontosun.com/News/TorontoAndG...067711-sun.html

 

[joeiannuzzi]

Tax hike worse than expected

Toronto homeowners will see their property taxes increase by more than 4 per cent this year – an even higher figure than the 3.75 per cent increase previously calculated by city officials, according to a new staff report.

The report, which calculates detailed tax rates required to meet Toronto`s 2008 budget, includes the cost of a tax break for small business that was neglected in previous estimates.

Since 2005, Toronto council has been gradually shifting more of the tax burden off business properties, and onto homeowners.

http://www.thestar.com/News/GTA/article/349315

 

[joeiannuzzi]

Sundial attracts interest; Owner still hasn`t announced plans for empty inn

The empty Sundial Inn is attracting attention from potential buyers, says the president of the Orillia District Real Estate Board

"There is interest," said Dan Stoutt, broker/owner with Re/Max Orillia Realty.

But, so far, property owner Royal Host of Calgary, which closed the hotel Feb. 1, has not listed the property for sale.

"They haven`t decided what they`re doing," said Stoutt.

http://www.orilliapacket.com/ArticleDisplay.aspx?e=951751

 

[joeiannuzzi]

Power of attorney under scrutiny

Real estate fraud continues to be a problem for industry stakeholders. The latest tale comes from a decision of the Superior Court of Justice in Brampton last month. Back in 1996, Lilianne and Donald O`Brien bought a residential condominium on Kimberley Cres. in Brampton. In 2004, the couple separated and Donald returned to his native home in Seychelles. Before he left, Donald gave his daughter Philippa a valid power of attorney to deal with his half-interest in the property.

Later in 2004, recognizing Philippa`s contribution to the condo, her parents gave her a one-third ownership interest in the unit, and together they placed a new mortgage on it in favour of First National Financial Corp. for $150,000.

http://www.thestar.com/living/article/348097

 

[joeiannuzzi]

Kitchener Frame hit by strike

The strike at American Axle and Manufacturing in the U.S. is hitting more big auto-parts suppliers here.

Kitchener Frame, a subsidiary of Martinrea International Inc., has temporarily laid off about 550 workers – including more than 400 in the past week – because of the ripple effect of the American Axle walkout in the United States.

The strike by 3,650 American Axle workers in Michigan and western New York, now in its fourth week, has shut down or partially closed about 30 General Motors operations, including its truck plant in Oshawa.

http://www.thestar.com/Business/article/349569

 

[joeiannuzzi]

New medical centre in the works

BRAMPTON - DCG Medical Building Developers has announced the construction of the Sunny Meadow Medical Centre, a 54,000-sq.-ft. office building set to open in north Brampton. Situated at the northwest corner of Sunny Meadow and Peter Robertson boulevards, the new medical centre will boast retail stores, restaurants and medical offices.

http://www.northpeel.com/news/article/45330

 

[joeiannuzzi]

Border bottlenecks hurting economy: Report

TRAVERSE CITY, Mich. – Bottlenecks along the U.S.-Canadian border resulting from the terrorism scare are hampering economic growth in the Great Lakes region and should be a front-burner issue in the presidential campaign, says a report being released Sunday.

It urges the two countries to develop a "border of the future," using advanced technology to quicken the movement of people, goods and services without sacrificing needed security measures. They also should upgrade border-area infrastructure such as bridges, rail lines and ports, says the analysis by the Brookings Institution, a policy research organization based in Washington, D.C.

http://www.thestar.com/Business/article/349913

 

[joeiannuzzi]

Save now . . . pay a lot more later

Vittorio Zorzit manages a company that has installed ventilation equipment in highrise apartments and condos throughout the GTA for nearly four decades.

The work has taught him plenty about energy efficiency.

One of the things Woodbridge-based Unilux Boiler Corp. puts into each unit is called a vertical fan coil: Depending on the season, it circulates warm or cool air from the central boiler or air conditioner.

http://www.thestar.com/SpecialSections/Ear.../article/349859

 

[joeiannuzzi]

Would you pay to buy green?

Signs of the greening of the real estate industry may be popping up everywhere like wildflowers dotting an eco-friendly lawn in spring – but many consumers balk when it comes to putting their money on the line.

Several recent polls have suggested that people interested in renovating or buying a home, and products for it, also want their choices to be good for the planet.

http://www.thestar.com/living/article/347676

 

[joeiannuzzi]

Take a careful look at older homes

If you`re a first-time home buyer considering the purchase of an older home you`ll want to have some extra money at your disposal before signing on the dotted line.

At the very least, you should be prepared to fork out a few hundred dollars for a home inspection. At the worst, you may need to budget thousands for unexpected upgrades and repairs.

So says Mario Kyriacou, the 2007 recipient of the NACHI (National Association of Certified Home Inspectors) award for Inspector of the Year. The Toronto inspector (360degreeshomeinspections.com) says that while he recommends inspections for newly built homes as well, the potential hazards in an older home make it a necessity.

http://www.thestar.com/living/article/348068

 

[joeiannuzzi]

Review Your Agreement Before You Are Bound

In Ontario, your contract, the actual Agreement of Purchase and Sale, is very likely an Ontario Real Estate Association standard form contract. This standard form of contract will typically be modified to include the particular conditions that you and your agent have negotiated, but the bulk of this document is pre-formulated. Before you sign an agreement, you read it, and if you have any questions, you should ask your agent to explain what the clauses mean.

http://www.movesmartly.com/2008/03/review-your-agr.html

 

[joeiannuzzi]

Businesses adjust to slowdown

The run-up of the dollar has made life miserable for manufacturers in Central Canada for a while now.

Then came the ripple effect of credit market woes and a faltering U.S. economy. Top that up with soaring energy costs and you have slower growth cutting a swath right across the country.

http://www.canada.com/windsorstar/news/bus...k=70083&p=1

 

[joeiannuzzi]

Windsor-Essex County cost balance shifting

More development and population growth in the Essex County are starting to shift the cost of services shared with the City of Windsor, county administrator Brian Gregg noted during final budget discussions last week.

City and county`s shared services are usually based on equalized assessment or per capita funding formulas.

For 2008, the county assumed an extra $180,000 in costs from the city for social services, social housing and land ambulances because of the relatively greater growth in the county`s assessment base.

http://www.canada.com/windsorstar/story.ht...d73&k=98235

 

[joeiannuzzi]

Yonge subway to close early?

Some subway stations would close as early as 12:30 a.m. starting in June under a plan to speed up repairs on deteriorating tunnel liners before they reach the point where they`re unsafe.

The only other option would be to close parts of the northern end of the Yonge line if there`s a threat of collapse, says a Toronto Transit Commission report to be presented to commissioners tomorrow.

http://www.thestar.com/News/GTA/article/350426