The day before Mayor Rob Ford and Toronto’s new council took office, Toronto Community Housing Corp. quietly transferred the houses to Wigwamen Inc, selling nine well under market value and giving five away essentially for free.The, uh... good news is... the six million taxpayer dollars is probably just chump change... try imagine what taxpayers will be paying to run these welfare motels in perpetuity.
The houses, all left vacant and dilapidated for years — and originally paid for with taxpayer dollars — were sold for whatever was left owing on their mortgages, nine of them sold for an average of $29,000, and five had a mortgage balance of $0.
The 14 houses are among 20 the TCHC is transferring over to Wigwamen after receiving approval from Toronto’s outgoing David Miller-led council back in May.
Just something to think about the next time you're writing that outrageous municipal tax cheque.
