City Councillors could soon begin the process of deciding which, if any, London landmarks should be put up for sale.
Buildings like Budweiser Gardens, the Convention Centre, and the Covent Garden Market would be part of an asset review being recommended by city staff, and debated Tuesday by members of the Corporate Services Committee.
“Where things are classified, particularly between the major venues and the core municipal operations, I think is an important debate point because there may be some areas where colleagues feel things are core services and some things aren’t, so I think that’s an important discussion for the committee to have,” said Councillor Josh Morgan.
The review isn’t a guarantee City assets will be put on the market, staff is merely calling for a review of municipally-owned capital assets to generate non-tax revenue.
“The sale of assets should never be linked to trying to make a budget work out,” said Councillor Morgan. “The review and sale of assets should really be an independent review with solid public engagement and consultation to decide what we want to be involved in and what we don’t, what we need to own and what we don’t, and not be driven by a budget pressure.”
The list of assets to review also includes London Hydro, which is currently engaged in merger talks, Centennial Hall, various parking lots, and vacant land and buildings.
The list does not include the city-owned golf courses, Storybook Gardens and City Hall itself.
The last time a review was completed was in 2011.
The issue will be debated at the Corporate Services Committee meeting Tuesday at 12 p.m. If Councillors approve the review, a report would be provided to council next fall.
Besides their regular meetings on Tuesday, Councillors will have two in camera sessions to talk about confidential personnel matters.
City staff announced on Monday the Corporate Services Committee will have an extra session at 11a.m. Tuesday morning while full Council will meet at 3p.m. before its usual meeting at 4p.m.
Officials have only said the meetings revolve around confidential matters.