The Ontario government has eliminated 45 positions and expects to save $5 million per year by merging Infrastructure Ontario (IO) with Ontario Realty Corp. The merger will eliminate the hand-off between IO and ORC on large complex projects funded through alternative financing and procurement.
TORONTO
The Ontario government has eliminated 45 positions and expects to save $5 million per year by merging Infrastructure Ontario (IO) with Ontario Realty Corp., an official said.
In an e-mail to the Daily Commercial News, an Infrastructure Ontario spokesperson stated the merger eliminates surplus office space, existing vacancies and some positions in overlapping areas.
“Overall, 45 positions have been eliminated,” said Steve Dyck, IO’s vice-president of corporate development and communications.
The Ontario Infrastructure and Lands Corporation Act recently created OILC, or Ontario Infrastructure and Lands Corp. Also merged into the new entity, which will continue to be branded as Infrastructure Ontario, was Stadium Corporation of Ontario Ltd.
“The creation of a single agency will ensure the streamlining and rationalization of the delivery of infrastructure and realty services,” Dyck said. “For example, the merger will eliminate the hand-off between IO and ORC on large complex (Alternative financing and procurement) projects.”
The crown corporation is accountable to the Ontario Minister of Infrastructure, Bob Chiarelli, who recently briefed the media on the province’s 10-year infrastructure plan. The new Infrastructure Ontario will manage the process to design, build, finance and maintain large public works including hospitals and justice facilities. It will also manage the province’s real estate assets.
Under its loan program, IO will provide municipalities, universities, colleges, and not-for profit long-term care and affordable housing agencies, with access to loans.
DCN News Services
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