City Council has voted to suspend the entire Toronto Parking Authority board after it was revealed TPA came perilously to paying $2.5 million too much for a piece of land to be used for parking. There are protestations that no wrong doing is known, and there may be none. But the circumstances as set out at Council are certainly worrisome. The TPA got advice from someone on the value of the parcel at Finch Ave and Arrow Road who is a consultant employed by a sign company (unnamed). There is a sign on the land. The value of the deal seems to have been reduced to what the sign might be worth to the sign company and thus the owner of the land. The consultant said $4.5 million. Councillor John Filion heard this and thought it was baloney. He told the City Auditor Beverly Romeo-Beehler who blew the whistle. It gives new meaning to the term Green P. The investigation continues.
