Organization
The 'Waterfront Revitalization Task Force', a task force of the City of Toronto, the Government of Canada and the Province of Ontario was established in November 1999 to study the future of the Toronto waterfront. The task force, headed by financier Robert Fung, reported in March 2000. It estimated the total cost of revitalization at $5 billion in public investment and a further $7 billion in private sector investment. It proposed the following general recommendations for the Toronto waterfront:
- Make the water's edge an accessible, public amenity from Etobicoke through the Central Waterfront to Scarborough;
- Remove the elevated Gardiner Expressway in the Central Waterfront and provide a new road and transportation network to better serve Toronto's downtown and revitalized waterfront;
- Create in the core of the City major new neighbourhoods for working, living and recreation, resulting in a substantial increase in the City's stock of affordable and market housing;
- Create a "convergence community" that crosses all disciplines of creativity to take advantage of Toronto's unique position in New Media, communications, music, biotechnology, software and high technology.
- Provide a clean environment by improving water quality, cleaning up contaminated soils, eliminating the risk of flooding and naturalizing appropriate areas.
- establishment of a corporation separate from government to oversee the revitalization.
Source: Our Toronto Waterfront: Gateway to the New Canada. City of Toronto. 2000. p. 4.
The Toronto Waterfront Revitalization Corporation was formed in 2001 to oversee and lead waterfront renewal. It has subsequently been renamed "Waterfront Toronto." The agency is jointly funded by the three levels of government. The agency is overseen at the federal level by the Department of Finance, at the provincial level by the Ministry of Energy and Infrastructure, and at the municipal level by the Waterfront Project Secretariat.
The organization is directed to support the following policy objectives of the three levels of government:
- Reducing urban sprawl
- Developing sustainable communities particularly in the area of energy efficiency
- Redeveloping brownfields & cleaning up contaminated land
- Building more affordable housing
- Increasing economic competitiveness
- Creating more parks and public spaces
Source: "Projects". Waterfront Toronto. Retrieved 2009-02-10.
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