GLOVER: Ford’s Therme Ontario Place deal could cost taxpayers $800M

TORONTO – Ontario NDP MPP Chris Glover (Spadina–Fort York), whose riding includes Ontario Place, released the following statement in response to new revelations about the Therme Ontario Place deal:

“With new revelations about Therme’s financial instability, what will happen if Therme cannot raise the finances to complete the project?

“According to the lease, Therme can sell the 95-year lease on our public parkland to another company that could then ‘repurpose’ the development.

“Ontario taxpayers could be stuck with paying over $800 million to destroy the West Island Forest and build a parking garage, and Therme could then turn around and sell the lease for a profit.

“This is the worst deal in Ontario’s history. This is either a sign of extreme incompetence or corruption. It’s time to come clean and cancel the deal.”