FAQ

What is the Toronto Lands Corporation (TLC) and what does it do?+

The TLC is a wholly owned subsidiary corporation of the Toronto District School Board (TDSB), it was incorporated in 2008, with the TDSB as the sole shareholder of the TLC. The TLC is responsible for handling all real estate revenue potential matters for all properties as prescribed by the TDSB Board by way of TDSB resolution.  TLC provides services relating to asset management, property and project management, consulting services as well as any projects assigned to it by the TDSB. The primary objective of TLC is to maximize the financial returns and benefits of TDSB real estate assets (through selling and/or leasing) while assisting TDSB to provide community benefits in support of delivering a positive educational experience for students.

TLC also has 31 TDSB school pools that it manages and oversees in relation to governance and pool rentals (permits). For view the complete inventory of pools, please see our pools webpage.

Why does the TLC exist?+

The TDSB is a tremendous landholder. It is the largest school board in Canada and the fourth largest in North America. With the amalgamation of Toronto in 1998 and thus the merger of seven school boards into one, the TDSB became the owner of the largest real estate portfolio in the City of Toronto. As a means to manage TDSB property, a corporation of the TDSB was established with a mandate to maximize the financial returns and benefits of TDSB real estate assets while assisting the TDSB to provide community benefits in support of delivering a positive educational experience for students.

How does the TLC contribute to the success of the TDSB?+

The TLC’s mission is to maximize revenues in order to reinvest in TDSB schools and students.  We do that by working to maximize the income we gather on these properties, on behalf of the TDSB.  Net revenues generated are directed to the TDSB for ongoing capital expenditures in operating schools.

Why is an independent agency needed to manage the real estate portfolio?+

Property redevelopment, sales, management and leasing are specialized fields, which are complex and time consuming.  As a separate corporation dedicated to managing these capital assets, the TLC brings a focus, a professional Board of Directors, and expert staff to the task.

Who owns the surplus sites?+

The TDSB retains ownership of all the properties.  The TLC acts as an agent of the TDSB.

Are there stipulations on what TLC can do with the surplus sites?+

The TLC is governed by City Bylaws, zoning and Ministry of Education regulations. In addition, the TDSB could impose conditions on what can be done with a given site, for example, requiring that it be leased only, as opposed to being sold.

Can anyone acquire a surplus site?+

In accordance with On. Regulation 444/98, the TLC must first offer surplus properties to the other public partners. These include school boards, universities and colleges, the City of Toronto, and various other public agencies.  If there is no public interest in the site, than private sector offers are sought.  In considering its options, the TLC will take into careful account the well-being of the community and needs in relation to the site to be leased or sold.

How does TLC dispose of TDSB property?+

Pursuant to Section 194(3) of the Education Act, the TDSB may from time to time, declare property surplus to needs of the Board by way of a resolution and refer any such property to the TLC for disposition with a set of property-specific disposition parameters.

TLC then takes action by circulating the site(s) pursuant to Ontario Regulation 444/98 to Public Agencies for a 90 day period. Public agencies include Co-terminus School Boards, Colleges & Universities, City of Toronto and various other agencies. Following the 90 day circulation period, the public offering closes. If during this period, an offer to purchase is received by TLC, the TLC will enter into negotiations with a public agency. If no offer is received or negotiations fail, TLC will proceed to dispose of the property on the open market.

How much revenue has the TLC generated?+

Since the TLC’s inception in 2008, as of August 31, 2014 a total of 65 sites have been sold generating $405M for TDSB to reinvest into capital programs.

What advantages does the TLC offer to potential clients?+

As an independent arm’s length corporation of the TDSB, the TLC offers a clear process for leasing, disposition and property management of the properties assigned to it.  A one-stop approach to customer service is the goal that we are pursuing through our development of a website and our day-to-day business transactions with current and potential clients.

What guides the TLC?+

While always operating in a transparent way, the TLC pursues deals that serve the short-term and long-term interests of the TDSB as well works toward achieving community benefit.

We recognize that TDSB properties are vitally important to the communities in which they are located.

The TLC has the experience and expertise to ensure the most beneficial financial transactions, getting the most out of every TDSB site, while remaining focused on community-building.

What is Ontario Regulation 444/98?+

It is the Regulation governing the sale of surplus school board property in Ontario. The full regulation is available on the Ontario eLaws site:
http://www.e-laws.gov.on.ca/html/regs/english/elaws_regs_980444_e.htm

If I want more information on a TDSB site that has been sold, where can I find it?+

Sites sold are registered on Title with the Ontario Land Registry Office. For information relating to the purchaser, land record information etc.; contact the Land Registry office in which the site is located. You can find the contact information at the Land Registry Office website at:
https://www.ontario.ca/home-and-community/land-registry-offices