NEWS: Gas prices and condo receivership

Cap-and-trade legislation and summer demand are being offered as the reason for another leap in the price of fuel set to hit Tuesday night. There is another six cents a litre in the works, which will drive the retail price of regular to nearly $1.22 a litre. No one is trying to kid you. Cap and trade is a tax which, among other things, is about getting you to put your car away or maybe push it off a cliff. Happy motoring.

CONDO IN JEOPARDY OF BANKRUPTCY

The On The Go Mimico high-rise condominium project at 327 Royal York Road is in financial distress, according to the CBC, and some 200 people who bought units in the project may lose their homes after the development was placed into court-ordered receivership. The project is said to be 15 per cent complete six years after it was first marketed to buyers. It will now be sold off by the receiver in a bidding process. The buyers who paid for the pre-sold condos — 208 of the project’s 242 units — will get their combined $6.3 million in deposits back. But the condos they bought and waited years to move into will likely be sold off at much higher current market values by whomever steps in to complete the project, says reporter John Lancaster.

GOV’T LANDS HARD ON YORK BOARD

A review of the York District School Board (YRDSB) offers a sweeping list of recommendations for the board to remedy what is described as a “culture of fear” among board members and senior staff, as well as “systemic discrimination.” On Tuesday, Ontario Education Minister Mitzie Hunter issued 22 directives to the school board as a result of review. At least one of which is meant to be enacted within 24 hours. CBC

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