According to this @globeandmail article, a donor to the Ford government borrowed $100 million at a TWENTY-ONE PERCENT interest rate in order to buy up Greenbelt land that, in less than a year, was magically open to development. (1/x)
#Greenbelt #Bill23
theglobeandmail.com/canada/article…
#Greenbelt #Bill23
theglobeandmail.com/canada/article…
So the De Gasperis family decided to pay $21 million a year to borrow $100 million for a piece of Greenbelt land that wasn’t supposed to be developed? Why would anyone do that unless they had a crystal ball or some other way to know that they could develop the land in the future?
Kudos to @moore_oliver and @jillsmahoney for their work on this article.
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