the Ontario government introduced proposed legislation, that, if passed, would support priorities that people in Ontario need – like building more housing units, including affordable housing and long-term care. The proposed Improving Real Estate Management Act, 2023, is part of the government's plan to more efficiently manage real estate, improve economic growth and save taxpayers’ money.
"As the demands on the province's infrastructure continue to increase with the needs of a rapidly growing population, Ontario must find innovative ways to manage one of our most valuable resources – real estate," said Kinga Surma, Minister of Infrastructure. "If passed, this legislation would create a more centralized approach to how government manages and makes decisions about real estate so that we can continue to build Ontario and deliver the services that families and individuals need."
The proposed legislation would centralize and/or realign the real estate authority of 10 organizations and one proposed organization. The organizations include museums, convention centre corporations, science centres, and an art gallery. If passed, this approach would allow the government to better manage and oversee real estate more cost-effectively and efficiently, which could create opportunities, such as the sale of surplus properties, to better support government priorities like building more housing and long-term care.
The proposed legislation, if passed, would also build, in part, on the initial framework created through the Reducing Inefficiencies Act (Infrastructure Statute Law Amendments), 2023 (not yet in force), that would enable the government to act and direct more as one holistic organization to manage real estate.
These proposed changes, if passed, would ensure consistent, efficient, and sustainable real estate services – that could ultimately unlock cost savings, increase efficiencies, and improve accountability.
Source : Ontario Newsroom