MAIN HEADING: Realty Development and Management - VOTE 4004

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Realty Development and Management - VOTE 4004

This program has integrated responsibility for strategic planning, policy development and management of a realty portfolio encompassing approximately one million acres of land and thousands of buildings and structures held throughout Ontario. It also has the responsibility for acquisition, disposition and use of realty assets as well as governance and oversight of its delivery agent, the Ontario Infrastructure and Lands Corporation. In this role, the program provides expert real estate advice and service to support Ontario's policy and program objectives in addition to working with Ontario ministries and agencies to support their land use, property management and accommodation needs. Today, the program is achieving a number of Ontario's environmental and policy objectives through its effective management of realty assets, value optimization of existing realty assets, and the provision of adequate and appropriate workspace for Ontario Public Servants. The program also includes management of corporate forfeited property to reduce potential liabilities for the government. In addition, this program has responsibility for oversight of Waterfront Toronto, a non-share capital corporation created by the three orders of government (the City of Toronto, the Provincial Government of Ontario and the Federal Government of Canada) to oversee the revitalization of Toronto's waterfront.

Vote Summary
($)
ITEM # ITEM

Estimates
2014-15

Estimates
2013-14

Difference
Between
2014-15
and
2013-14

Actual
2012-13

  OPERATING EXPENSE        
1 Realty Programs 64,032,600 58,992,100 5,040,500 66,804,746
Total Including Special Warrants 64,032,600 58,992,100 5,040,500 66,804,746
Less: Special Warrants 20,022,000 - 20,022,000 -
  TOTAL OPERATING EXPENSE TO BE VOTED 44,010,600 58,992,100 (14,981,500) 66,804,746
Special Warrants 20,022,000 - 20,022,000 -
S Bad Debt Expense, the Financial Administration Act 144,000 144,000 - -
  Total Statutory Appropriations 144,000 144,000 - -
  Total Operating Expense 64,176,600 59,136,100 5,040,500 66,804,746
  CAPITAL EXPENSE        
2 Realty Programs 126,244,900 185,219,800 (58,974,900) 218,749,473
3 Realty Development and Management – Expenses related to Capital Assets 1,000 1,000 - -
Total Including Special Warrants 126,245,900 185,220,800 (58,974,900) 218,749,473
Less: Special Warrants 54,800,000 - 54,800,000 -
  TOTAL CAPITAL EXPENSE TO BE VOTED 71,445,900 185,220,800 (113,774,900) 218,749,473
Special Warrants 54,800,000 - 54,800,000 -
S Amortization Expense, the Financial Administration Act 1,000 1,000 - -
  Total Statutory Appropriations 1,000 1,000 - -
  Total Capital Expense 126,246,900 185,221,800 (58,974,900) 218,749,473
  CAPITAL ASSETS        
4 Realty Development and Management 324,801,000 11,581,000 313,220,000 -
Total Including Special Warrants 324,801,000 11,581,000 313,220,000 -
Less: Special Warrants 2,000,000 - 2,000,000 -
  TOTAL CAPITAL ASSETS TO BE VOTED 322,801,000 11,581,000 311,220,000 -
Special Warrants 2,000,000 - 2,000,000 -
  Total Capital Assets 324,801,000 11,581,000 313,220,000 -


Standard Account by Item and Sub-Items
($)
VOTE-
ITEM
#
STANDARD ACCOUNT BY ITEM AND SUB-ITEMS      
  OPERATING EXPENSE      
4004-1 Realty Programs      
      Salaries and wages     3,204,800
      Employee benefits     451,700
      Transportation and communication     52,300
      Services     56,741,100
      Supplies and equipment     57,700
      Transfer payments      
          Toronto Waterfront Revitalization Corporation     1,820,000
      Other transactions     3,525,000
  Subtotal     65,852,600
  Less: Recoveries     1,820,000
  Total Operating Expense     64,032,600
  Statutory Appropriations      
      Other transactions      
Statutory         Bad Debt Expense, the Financial Administration Act     144,000
  Total Operating Expense for Realty Development and Management     64,176,600
  CAPITAL EXPENSE      
4004-2 Realty Programs      
      Services     92,678,000
      Transfer payments      
          Realty Transactions   629,400  
          Toronto Waterfront Revitalization   23,897,900  
          Pan/Parapan American Games Athletes Village Infrastructure   9,039,600 33,566,900
  Total Capital Expense     126,244,900
4004-3 Realty Development and Management – Expenses related to Capital Assets      
      Other transactions      
          Loss on asset disposal     1,000
  Total Capital Expense to be Voted     1,000
  Statutory Appropriations      
      Other transactions      
Statutory         Amortization Expense, the Financial Administration Act     1,000
  Total Capital Expense for Realty Development and Management     126,246,900
  CAPITAL ASSETS      
4004-4 Realty Development and Management      
      Land     7,800,000
      Buildings - asset costs     317,000,000
      Land and marine fleet - asset costs     1,000
  Total Capital Assets     324,801,000
  Total Capital Assets for Realty Development and Management     324,801,000