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May 31, 2001
Toronto Waterfront revitalization to begin
  
Today, City Council approved the creation of a Toronto Waterfront
Revitalization Corporation to oversee Toronto's $12-billion project.

"Thanks to a unique partnership among the federal, provincial and City
governments, we are making a historic contribution to the future of this city,"
said Mayor Mel Lastman. "Toronto's waterfront is finally being given the
priority it deserves."

The first step in the renewal process is the start of four priority waterfront
projects approved by Council on April 30, 2001:

- $170 million to extend Front Street west of Bathurst Street to Dufferin
Street and the Gardiner Expressway
- $61 million to prepare the Port Lands district for cultural, recreational,
residential and commercial uses
- $58 million for a second platform in Union Subway Station to relieve
congestion for TTC and GO Transit riders and accommodate future passenger
volumes
- $2 million for a formal environmental assessment of plans to transform the
Don River mouth.

At today's meeting, Council approved the creation of a Waterfront Reference
Group comprised of City councillors to ensure that the activity of the
corporation and the City's waterfront-related businesses are coordinated.
Council also endorsed actions to ensure full public participation in the
planning and implementation of waterfront renewal.

Renewing Toronto's waterfront represents an investment in the future of
Canada's largest city and an important means of achieving key environmental,
housing, transit, transportation and economic objectives. Initially,
infrastructure and renewal projects will be funded from the $1.5 billion in
waterfront redevelopment monies announced by Mayor Mel Lastman, Prime Minister
Jean Chrétien and Premier Mike Harris in October, 2000. The corporation is
expected to leverage these monies to attract private investment and become
self-sufficient. The corporation will also develop a business strategy and
development plan for waterfront renewal that will be approved by all three
levels of government.

Waterfront Revitalization Chronology

November 3, 1999
Prime Minster Chrétien, Premier Harris and Mayor Lastman announce the formation
of the Toronto Waterfront Revitalization Task Force headed by Robert Fung. A
renewed waterfront will meet the objectives of enhancing Toronto's economic
vitality, social development, transportation system, housing stock and
environmental sustainability

Mayor Lastman releases vision document "Our Toronto Waterfront! The Wave of
the Future"

February 2000
Toronto City Council approves bid for the 2008 Olympic Games

March 2000
Release of the Report of the Toronto Waterfront Revitalization Task Force -
Our Toronto Waterfront: Gateway to the New Canada - a strategic master plan
that combines open space, recreational, residential, commercial and
entertainment uses and examines infrastructure requirements, including
transportation and transit services, parks and environmental remediation

June 2000
The Toronto Waterfront Revitalization Task Force holds four public meetings on
the proposed plans

August 28, 2000
Toronto is short-listed by the International Olympic Committee in bid to host
the 2008 Olympic Games

City Council approves Our Toronto Waterfront: Building Momentum in response to
the Task Force Report. Building Momentum contains the City's preliminary
analysis of the strategic master plan and recommends an implementation strategy
for revitalization

October 2000
The City places an Interim Control Bylaw on key lands between Jameson Avenue
and Leslie Street to protect future options for a publicly accessible
waterfront and a reconfigured transportation network

October 20, 2000
Prime Minister Chrétien, Premier Harris and Mayor Lastman announce their
commitment to Toronto's waterfront and pledge $1.5 billion to kick-start the
project

February 2001
The City of Toronto and the federal and provincial governments approve $6.3
million in technical studies as part of the $1.5 billion commitment to
waterfront revitalization

March 5, 2001
Minister Collenette, Minister Flaherty and Mayor Lastman announce support for
the creation of a Toronto waterfront revitalization corporation to initiate
approximately $300 million in projects

March 7 to 12, 2001
International Olympic Committee Evaluation Commission visits Toronto

April 5, 2001
City of Toronto Policy and Finance Committee approves report on waterfront
governance and first phase revitalization projects

April 30, 2001
Toronto City Council approves first phase revitalization projects and funding

May 30, 2001
Toronto City Council approves waterfront governance structure

Summer / Fall 2001
First phase revitalization projects to begin. Central Waterfront Plan to be
released

July 13, 2001
Host city for 2008 Olympic Games will be selected by the International Olympic
Committee






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