Good Morning all, In recent days, Mayor Ford has expressed concerns with the phase-out of Toronto

Pooling Compensation. I have attached Minister Sousa’s June 13th letter to the Mayor on this issue for your reference and included a statement below, which is attributable to me as the Minister's Press Secretary; We welcome the Mayor’s interest in these important issues. Our government has been very consistent in our plan to create prosperous local economies while making sure everyone in Ontario is treated fairly. Even after Toronto Pooling is phased out, the City of Toronto will come out $110M ahead by 2016. And they have choices in how they manage their programs and their spending. Here’s an example: The City collects $345M/yr from the land transfer tax. The Mayor insists on a 10% cut this year – that’s $34.5M. The net benefit of uploading this year is $50M. Add those two together, and that’s $84.5M. The mayor is insisting that he HAS to cut programs because pooling is being phased out. As you can see, this isn’t true. And that doesn’t include the $42.5M benefit the City will see from this year’s portion of the loan remittance. As we’ve said all along, the City has choices. Cutting funding for social housing is a choice the Mayor is making, just as he has chosen not to benefit from land transfer or vehicle registration powers that he holds under the City of Toronto Act. Our government has chosen to invest in transportation and transit infrastructure that will ease the GTHA’s crippling congestion, boost its productivity and help people get home quickly and safely at the end of the day. We are committed to affordable housing, since 2003, the province has provided almost $1 billion to the City of Toronto in support of social and affordable housing. We are confident that the Mayor will make the right choices to represent the diverse needs of this wonderful city. Thanks, Susie Susie Heath Press Secretary Office of the Minister of Finance 416-201-2482

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