For sale: Roberta Bondar Place ... government needs $$$
Tuesday, January 15, 2013 by: SooToday.com Staff
The provincial government is selling Roberta Bondar Place (70 Foster Drive).
Government services and jobs now there will stay put.
According to a Ministry of Infrastructure news release, the sale will "free up valuable taxpayer dollars for what matters most to Ontario families – health care and education."
The proposed sale is part of the province’s Realty Transformation Strategy.
It involves selling and leasing back government buildings to "help eliminate the deficit, while protecting local jobs" and services.
The province also wants to sell and leaseback eight other government buildings across the province.
“As we work to eliminate the deficit and get better value for taxpayers’ money, we’re getting out of the businesses government shouldn’t be in, like owning and operating office buildings. Our plan will also ensure government services remain strong in Sault Ste. Marie and across the province," says Bob Chiarelli, Minister of Infrastructure.
The government says the proposed sales and leasebacks could generate up to $500 million in revenue and additional net savings of almost $300 million over the next 25 to 30 years.
Staff from the ministries of Children and Youth Services, Community and Social Services, Community Safety and Correctional Services, Citizenship and Immigration, Labour, Natural Resources, Northern Development and Mines, Transportation, and the Ontario Lottery and Gaming Corporation work the local building affected.
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LillyGirl 1/15/2013 12:01:30 PM ReportWhat a load of crap. Our Country is not broke, we are one of the few countries in the world that make a profit.
NOS2002 1/15/2013 12:08:50 PM ReportThis title made me laugh...and all i can say is if Ontario is really broke perhaps we could recover some money from Attiwapiskat.
Krusto 1/15/2013 12:09:59 PM ReportDo you think this has ANYTHING to do with the OLG plans to privatize and downsize????
Head office heading SOUTH?????
Hmmmmmmmmmm....stay tuned folks
DOMAR 1/15/2013 12:16:25 PM ReportThe people in this country are broke!! High energy bills, tax bills and high inflation is killing this province and country. Really how can anyone or why would anyone want to own anything in this country.
Lynx 1/15/2013 12:21:40 PM ReportC'mon.. what a slap in the face to our home Sault Astronaut... wish Roberta could share a thought or two... so what's next? You as well Shania.. Timmins breakin' down ur memory as well... well she hasn't gone out of her way to make an effort to get back to her home town.. so guess life is all good for her.
phesoj 1/15/2013 12:22:32 PM ReportNOS2002
You cannot recover money unless you know where it's gone! LOL !
Truck 1/15/2013 12:29:16 PM ReportMore and more lately when an Ontario Minister of anything opens his/her mouth all thats seems to come out is b/s....we're all in trouble!
KMF61MCF 1/15/2013 12:34:16 PM ReportWASTED TO MUCH MONEY ON THAT DAMN SUMMIT, AND MILLIONS ON FLYING ON PRIVATE JETS TO THE OLYMPICS STOPPING AND PICKING UP THERE FAMILY USING TAX DOLLARS.PETER MCKAY THE BIGGEST SPONGE.
Tender34 1/15/2013 12:37:07 PM ReportThis is all about budget numbers and making them look good before the next election. Sell off a piece of our country and get the numbers on your books to make all the bad politics disappear.
wallyhunter 1/15/2013 12:37:27 PM ReportI for one would like to know how this is going to save us money.
They are going to sell the building and then rent the space from them. So this is what I am thinking
Currently the building is paid for so the only thing they are paying for is maintenance and other expenses such electric and heating.
So they sell the building for a lump sum.
A company purchases it and rents it back. The company is going to be responsible for maintenance, electric and heating. So when they figure out the rent they will make sure those costs are reflected in the rent. They will also pay back the money they borrow to buy the building. So again this will be reflected in the rent. They will also want to make a profit on the venture so again that will be reflected in the rent. They will need people to manage the building and again that will be reflected in the rent.
The government will still have people to manage the buildings they will still own so I did not add that to the current cost.
So here is the breakdown as I see it
currently - maintenance and expenses (electric and heat), insurance
rented - maintenance, expenses, mortgage, profit, management, insurance
So how does renting become cheaper.
Bill_the_Cat 1/15/2013 12:37:51 PM ReportKMF61MCF: wrong government.
There is already a head office in the Greater TO--when push comes to shove, no government will sacrifice 416/905 ridings for one measly northern ontario seat.
Hard-working-girl 1/15/2013 12:47:14 PM Report{According to a Ministry of Infrastructure news release, the sale will "free up valuable taxpayer dollars for what matters most to Ontario families – health care and education." }
Really? Hmmmm do you think they will use that money to fund IVF so that the people who want and should be parents can be?
That would free up Thousands of our dollars if they would.....
Just an opinion...........
LillyGirl 1/15/2013 12:53:35 PM ReportI see they changed the title to needs money instead of broke..lol
molder2 1/15/2013 1:00:55 PM ReportWho would be so stupid to buy this building and invest in this City!All empires fall...history repeating it`s self...
bounder 1/15/2013 1:12:11 PM Report$50.00 bucks and take the free loaders with you.
MrJWall 1/15/2013 1:12:20 PM ReportWe all know full well where the money goes! What was the heated discussion last week? That's why Canada broke or having $ issues!
oldred 1/15/2013 1:38:30 PM ReportAll the years I was growing up, I was told that it was better, financially, to own than to rent/lease. I guess the geniuses at Queens park know better than the rest of the world ,,,AGAIN!
Mike58 1/15/2013 1:46:28 PM ReportYou should Google: "99 Stupid Things The Government Spent 'Your' Money On". ...Macleans.ca. That's why we are in this fix today! There won't be any middle class years from now. Only the Rich and the poor.... Good News??? "It is easier for a camel to go through the eye of a needle than for a rich man to enter the kindom of God."
Sam C 1/15/2013 1:56:49 PM ReportWho would be so stupid as to suggest that this City is not worth the investment?
thesharr 1/15/2013 2:06:34 PM ReportHow does "Essar/Roberta Bondar Place" sound,kind a has a ring to it or "OLG ESSAR", mite as well, good way to secure jobs for the future.who's future?
sooguy8 1/15/2013 2:08:25 PM ReportThis is going to make it much easier for the OL&GCORP in Toronto to justify closing the Sault Ste Marie OL&GC offices at a later date due to the costs of maintaining the office site in Sault Ste Marie. Sault Ste Marie can say good bye to those jobs the minute this is implemented. Who the hell cares about the north we are just another ATIWAPISCAT to those in power in Queens Park. Will you vote Liberal next time around? Lets see how Mr Orazietti will adjust to going back to teaching.
Stevie-E 1/15/2013 2:40:45 PM ReportHas it occurred that maybe they don't want to be in the real estate business and focus more on revenue generation via there lotteries and casinos? Maybe they don't want to allocate staff to manage their properties or have to hire a property manager to maintain it.
Managing a property is also an expense and maybe they don't want the liability of having other tenants in the building, trying to find tenants, etc.
For some businesses, leasing office space may be best for their needs, some may want to own the property. For a changing company like OLG, maybe the restructuring calls for less physical assets, etc. Nobody really knows for for sure...Maybe they will cut back, but only time will tell and people on here crying wolf may cause panic that affects everyone! So relax people!
Stevie-E 1/15/2013 2:41:22 PM Report*their lotteries for you English majors.
Truck 1/15/2013 3:08:41 PM ReportStevie...
Read the OLG Modernization plan....."maybe cut back" was a nice thought a year ago. OLG generated over 80 million dollars last year and are planning to hit a billion this year. Problem is its not enough to get Dalton out of his mess! Therefore the public sector pays the price.
the coach 1/15/2013 3:37:19 PM ReportHow Much?
OMGWTF 1/15/2013 5:00:29 PM ReportDespite what they say the OLG head office has been in Toronto since 2000 when OLC merged with the Casino Corp. The Ont Realty Corp owns the building along with hundreds of other government buildings. Short term leases provide flexibility and they have said for years they want to loosen up the value of real estate. It also offers whatever company wins the right to run lotteries the opportunity to take over the lease when they take over lotteries...if they decide to take on the staff after the year term is up. Don't hold your breath on that one. Look for a lot of unused floors. Long-term planning!
Prrrrrrr 1/15/2013 6:03:29 PM ReportThat building would make a great casino... Outdoor concerts right across the road. accomodations right there, boat slips right there...
I say the natives buy it and make it a casino....actually the government should GIVE it to the natives with funding...Seriously!!!
KMF61MCF 1/15/2013 7:12:21 PM ReportThank god i am leaving this city and selling my home this summer. Tired of this city and Ontario.
Prrrrrrr 1/15/2013 7:35:49 PM Reportmeeeetooooo woohoo
Tom_Bom 1/15/2013 7:35:58 PM ReportI'll buy it and hold the Hempfest festival right there under the tent. :P
Prrrrrrr 1/15/2013 9:25:53 PM ReportTom u r duh bomb! SSMPS would love that!!! OVERTIME!
Lovethenorth 1/16/2013 9:12:20 AM ReportSelling buildings and leasing them back usually entails massive costs for the government and massive profits for the new landlord. This is a one-time gain. Unless you can sell Bondar Place every year, it's not going to be terribly helpful in the long run.
Note: Comments that appear on the site are not the opinion of SooToday.com. Keep discussions civil and on topic. Refrain from obscenity and don't post anything that your grandmother would be ashamed to read. Those who do not abide by these guidelines will have their membership revoked without notice. If you see an abusive post, please click the link beside the post to report it.
