Regulation on Municipal Business Corporations Proposed under the City of Toronto Act, 2006 (COTA)
Regulation - LGIC
Bill or Act:
City of Toronto Act, 2006
Summary of Decision:
Regulation has been approved and was effective upon filing.
November 9, 2006
Summary of Proposal:
The COTA corporations regulation would set out the authority for the City to create corporations for most services and facilities that the City is able to provide subject to limits in areas of provincial interest such as health and social services.
The City would not be compelled to deliver services through corporations but rather City council would be in a position to determine how best to provide services and facilities for their citizens.
The City would formulate a business case (of its own design) before creating a corporation and/or becoming a shareholder in a corporation and would develop policies regarding asset transfers to the corporation and the public process to be followed before creating a corporation.
The City would also be provided with an authority to use an area rate levy for the purposes of the corporation under the definition of "economic development services".
Municipal Finance Branch
Ministry of Municipal Affairs and Housing
777 Bay St. 13th floor
Toronto, ON M5G 2E5
December 27, 2006