City Overhaul Proposed in Toronto
"A panel of independent experts is suggesting a revolutionary overhaul of the city of Toronto's operations, including higher residential property taxes, a parking lot tax, regional road tolls, selling of surplus city lands, improving city worker productivity and raises for some politicians.
The report released this morning by the six-member panel recommends:
* Trading the Don Valley Parkway and the Gardiner Expressway to the province in exchange for a share of regional road tolls;
* Getting the province to provide $200 million of annual funding and long-term, stable financing to Canada's most populous city;
* Selling off some of the city's estimated $18 billion in real estate assets to help slash its debt load;
* Giving pay hikes to members of city council's powerful executive committee."