The plans of bringing a newly fashioned casino to Toronto city is scheduled to be brought before Mayor Rob Ford’s executive committee today amid requests from several council members to postpone the meeting until there is a better speculation into how much the city may earn from the project.
The committee is anticipated to deliberate on a report submitted by the city manager, which scrutinized the impact of bringing a casino to dowtown Toronto as part of the province’s gambling expansion. The primary issue at hand is the share of casino profits that would flow into the city’s coffers. The city manager’s report proposed a 50-50 split of casino profits with the province, implying that the city will take in no less than $100 million annually. Even though the province has yet to agree to that formula, in case it is adopted, it will be allowing Toronto a much higher share of the profits than host municipalities in other Ontario communities.
Coun. Michael Thompson, who is anticipated to call for a motion to delay the meeting, mentioned that “what is needed is to simply put that in as a condition and if that condition is met you proceed. If that condition is not met, then obviously you don’t have a deal.” On the other hand, Mayor Ford is keen to get the issue resolved at the meeting today. He alleged that “as of now we are putting it forward on Monday and Tuesday and take it from there.”
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