More On The Therme Sweetheart Deal

The following video is the NDP's Chris Glover talking about how the deal Doug Ford has struck with Therme Spa is a bad one for taxpayers. Just before watching it, here is a little context for the rent from Therme that Glover talks about:

The amount the provincial government expects Therme to pay it in direct rent payments — estimated to be at least $1.1 billion — over the [95-year] course of its lease will be partially dependent on the business’ success. Its lease’s terms will require Therme to pay the province minimum rent at a rate of 3.5 per cent of the land’s value. Additional “performance rent” payments from Therme are also expected by the province, several years after its facility opens.

Under the lease, Therme’s annual payments to the province will be capped at eight per cent of the land value. 

Despite his folksy charm, at almost every turn it is clear that Mr. Ford is not here for us, the taxpayers.