Vote: The secret Liberal bailout of MaRS developer

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MaRS bailout could cost up to $477 million

PCs say Wynne hid $317M bailout of MaRS developer

The Kathleen Wynne government is quietly moving to buy a potential white elephant of a downtown building for $317 million and stuff it with government bureaucrats, Ontario Tories alleged Thursday.

Newmarket-Aurora PC MPP Frank Klees, who is not seeking re-election, released a number of confidential cabinet documents Thursday that point to a taxpayer-funded rescue of the 20-storey MaRS Phase 2 project. Completed this year at the corner of College St. and University Ave., those behind the project are struggling to attract tenants.

The documents state that since the Ontario government guaranteed a $234 million loan to construct the building — and the project is in danger of defaulting due to a lack of tenants — the recommended course of action is to purchase it outright in part to avoid damaging the MaRS brand.

What do we know ?

Liberals’ Wynne denies PC allegations of secret real-estate bailout

The Globe and Mail

The Ontario Progressive Conservatives have accused Liberal Leader Kathleen Wynne of secretly approving $317-million to bail out a real estate development for a downtown Toronto research centre. But Ms. Wynne says the deal was confidential because it isn’t finalized and would actually save taxpayers money in the long run.

PCs claim Wynne hid $317M bailout of real estate company, charity…
Globalnews.ca-

PCs say Wynne hid $317-million bailout of real estate company …
Hamilton Spectator

PCs say Wynne hid $317M bailout of MaRS, real estate company
CBC.ca

CHRISTINA BLIZZARD
Sun News Network

Crisis

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