Key Vote: MFP SettlementCity councillors who voted to settle with MFP set a dangerous precedent. Instead of confronting the company, these councillors wanted to cave in to its demands. A settlement would mean no inquiry and that the truth would not come out as to how the city lost tremendous amounts of money.
City Council initially approved a $43 million lease with MFP, but costs soon ballooned to almost double that amount, $85 million. The inquiry has probed how this happened. Citizens of Toronto have learned of the dangerous relationships forged between select elected officials, city staffers, lobbyists and the corporate sector. While they were all flying together on junkets, the City of Toronto was simultaneously being set up to lose millions of dollars.
The question remains, why would a majority of councillors want to settle with MFP? A settlement not only would have suppressed information the public had a right to know, but also would have casually handed over millions of dollars to a corporation that had already misled the city. It is time to evaluate those councillors that favour secrecy over transparency, especially when it means huge gains for the private sector at the expense of the city coffers.
Voting FOR a settlement with MFP, rather than investigating the deal: 24
Voting AGAINST settling with MFP, and FOR an inquiry into the deal: 21
Vote Date: February 2002
Vote Specifics: Motion (d) of Clause No. 1 of Report No. 1 of The Audit Committee, headed “Status of Litigation with MFP Financial Services”
For more information, see the City Council Minutes. (PDF file opens in a new window.)
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