• Mayor’s Youth Speaker Series – January 25th

    MYSS Promo Flyer

     

    In Canada, a staggering 14% of youth aged 15-24 are unemployed*. Research has shown that a strong network and connection to mentors can open doors for youth as they transition into the workforce. Mayor Bonnie Crombie has committed to combatting this issue in Mississauga through a variety of initiatives, including The Mayor’s Youth Speakers Series. This initiative is intended to engage, inspire and provide youth with the opportunity to hear from industry leaders on their struggles and success stories. The series will see professionals from a variety of different sectors and backgrounds speak to the youth in Mississauga in an attempt to provide them with inspiration, support and counsel in their quest for long-term and high quality employment. The series will create a meaningful dialogue aimed at helping youth chart a course for their own personal success stories. Each event will be free of charge to youth ages 14-25, living in the City of Mississauga. For more information, visit www.mayorcrombie.ca.

     

  • City Publishes 2016 Proposed Business Plan and Budget

    The City of Mississauga’s 2016 Proposed Business Plan and Budget is now available online at mississauga.ca/budget. The 2016 Proposed Business Plan and Budget details what will happen with City services in 2016 and how they will be financed.

     

     

    Highlights of the 2016 Proposed Business Plan and Budget

     

     

    • The total operating budget proposed for 2016 is $723.1 million. This amount is offset by revenue from various sources (e.g. transit fares and recreation fees) totalling $289.4 million. The amount that is not offset by these revenues is the net operating budget.
    • The net operating budget proposed for 2016 is $433.7 million, compared with $412.9 million in 2015. 2016’s proposed net operating budget is approximately $21 million more than the 2015 net operating budget.
    • Almost all the budget proposed for 2016 (about 96 per cent, or $418.4 million) is there to keep our vibrant City’s services running at current levels. This includes services like:
      • MiWay – Ontario’s third largest municipal transit services, MiWay customers boarded a bus more than 52 million times last year
      • Fire and Emergency Services – responding to emergencies and visiting more than 30,000 residences last year to promote fire safety
      • Roads – keeping motor vehicle, pedestrian and bike traffic moving on the City’s more than 5,220 lane kilometres of roadway
      • Parks and Forestry – maintaining our City’s 2,903 hectares of parkland and open space, including one million City-owned trees, two marinas and 10 publicly owned cemeteries
      • The Central Library and 17 branch libraries – lending residents 6 million items last year
      • Recreation – last year providing 166,000 hours of recreation programming like swimming, fitness, skating and more
    • Expenses related to the Stormwater Program have been removed from the City’s operating budget ($6.7 million). Starting in 2016, Stormwater Program expenses will be funded by the revenue from the Stormwater Charge. This dedicated funding will be used to keep the City’s draining system in good working order.
    • New service accounts for between one and two per cent of the proposed budget, or about $7 million. As the City advances its strategic plan, new service includes:
      • continuing the low-income transit pass pilot
      • adding 28,000 transit service hours
      • opening three new Mississauga Transitway stations. When completed in 2017, the Transitway will move riders from the west end (Winston Churchill station) to the east (Renforth Gateway station) or vice versa in 20 minutes
      • increasing the City’s fire prevention efforts by adding capacity for public education and plans examination
      • improving the City’s disaster resilience
      • improving the Library’s collection and completing the Woodlands and Meadowvale libraries redevelopments
      • promoting our City as a tourism destination
      • reopening the extensively renovated Meadowvale Community Centre
      • beginning Phase I design and construction of a community centre for Park 459 in Ward 10
    • The overall tax impact on residents is 2.6 per cent on the 2016 residential property tax bill. Of this, 1.7 per cent is for the City’s services, and 0.9 per cent for Region of Peel services.
    • For the owners of an average, detached, single family home in Mississauga (value $533,000), a 2.6 per cent overall tax increase comes to about $121. Of this, approximately $78 goes to the City.

     

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  • Working Group to Consider a Stormwater Residential Credit Program

    On November 18th, Mississauga City Council approved a working group to consider a stormwater credit program for residential properties that use stormwater best management practices.  The working group will be comprised of Ward 2 Councillor Karen Ras, Ward 3 Councillor Chris Fonseca, Ward 6 Councillor Ron Starr, Ward 8 Councillor Matt Mahoney and Ward 11 Councillor George Carlson as well as staff from the City’s Transportation and Works department.

     

    The City of Mississauga currently has a credit program for non-residential and multi-residential properties. On October 28, 2015, Council passed a resolution to form a group to consider a separate credit program for residential properties. The group is to report back to Council in the spring of 2016.

     

    Background:

     

    Stormwater Charge
    The stormwater charge is a new, dedicated source of funding that will be added to the Region of Peel water bill in 2016. The City of Mississauga’s stormwater drainage system protects water quality and lowers the risk of flooding that can damage your property and the environment. To keep the system in good working order, the City invests in planning, design, construction, operation, maintenance, renewal and bylaw enforcement activities. Learn more about the stormwater charge at stormwatercharge.ca

  • Region of Peel – Universal Influenza Immunization Program

    Peel residents have a variety of options when it comes to getting their flu shot. These
    options include family doctors, walk-in clinics, some workplaces, Peel Public Health
    community immunization clinics and over 180 pharmacies who will be offering flu shots
    during the upcoming flu season.

    For further information, please visit peelregion.ca/flu/ or call 905-799-7700.

  • Slate Office REIT: $46M Announcement to Revitalize Sheridan Park

    Slate Office REIT to Invest $46M to Revitalize Sheridan Park Facilities; Announces Major Tenant SNC-Lavalin… — TORONTO, Sept. 24, 2015

     

    SNC Lavalin Campus

    Slate Office REIT (“Slate Office” or the “REIT”) (TSX: SOT.UN) announced today that it is investing approximately $46 million to revitalize two key properties in Mississauga’s Sheridan Park, which will house SNC-Lavalin’s nuclear sector, a major long-term tenant in the park that is committing to extend its lease on a long term basis in the newly refurbished, contemporary facilities.

     

    In connection with the revitalization project, Slate Office announced that it has entered into a binding agreement (the “Agreement”) with SNC-Lavalin (the “Tenant”), whereby SNC-Lavalin will lease from Slate Office approximately 215,000 square feet of research, development and office space in Sheridan Park for an initial term of 10 years.

     

    “This announcement is a perfect example of Slate Office’s strategy in action: the identification of overlooked, yet quality commercial properties such as these buildings in Sheridan Park, which we can then re-purpose and modernize while offering rents significantly below new construction cost – allowing us to attract and maintain high-quality tenants like SNC-Lavalin,” said Scott Antoniak, Chief Executive Officer of Slate Office.  “We’re extremely pleased to have strengthened our relationship with SNC-Lavalin over the long term in a deal that represents tremendous value for both sides, and in doing so helped to re-invigorate an important business centre such as Mississauga’s Sheridan Park.”

     

    Mississauga City Councillor, Karen Ras, said:

     

    “As City Councillor for Ward 2, the City of Mississauga, businesses and residents eagerly anticipate the much needed revitalization of Sheridan Park with announcements such as this.  I believe the City’s vision is closely aligned with both Slate Asset Management and SNC-Lavalin which encompasses goals of sustainability, innovation, collaboration and growth. We look forward to working with both parties to ensure a seamless rejuvenation of Sheridan Park.”

     

    Reimagined Sheridan Park

     

    Under the terms of the Agreement, Slate will transform 2251 and 2285 Speakman Drive for SNC-Lavalin, reimagining them and fully retrofitting them to create highly functional, contemporary facilities with modern amenities.

     

    The REIT anticipates total development costs of approximately $46 million for the revitalization project including (a) its obligations under the Agreement with SNC-Lavalin, (b) the acquisition of 2251 Speakman Drive from Slate Asset Management L.P. and (c) related value-add expenses in connection with the overall revitalization of its presence within Sheridan Park. The development costs will be funded using the REIT’s existing available resources.

     

    Sheridan Park provides SNC-Lavalin with a unique opportunity to consolidate around the backbone of its organization: its owned manufacturing facility located at 2233 Speakman Drive. The project will incorporate leading engineering and design best practices to deliver optimum energy and environmental efficiency.

     

    SNC-Lavalin’s Nuclear team provides leading nuclear technology products and full-service solutions to nuclear utilities around the globe including customized operations, maintenance and plant life management services, including waste management and decommissioning for BWR, PWR and CANDU-type reactors. Their experts in nuclear steam plant and balance of plant engineering carry out life extension projects, and design and deliver state-of-the-art CANDU® reactors, which are capable of operating on many types of fuel including natural uranium, mixed oxide (MOX) fuel, recycled uranium (RU) and thorium.

     

    Sheridan Park is one of North America’s first corporate research parks. SNC-Lavalin’s neighbours include a wide range of applied research and product development corporations, each dedicated to supporting research activities spanning across energy, electronics, nucleonics, chemicals, petroleum, pharmaceuticals, engineering and moviemaking sectors. In total, more than 2,700 scientists, technicians, engineers and support staff are employed within Sheridan Park’s boundaries.

     

    Sheridan Park offers excellent accessibility to major arterial roadways including Erin Mills Parkway, Winston Churchill Boulevard, and highways including the Queen Elizabeth Expressway, 401, 403 and 407 ETR. In addition, being on the MississaugaOakville border means Sheridan Park is serviced at various locations by the routes of two transit commissions with connections to GO Transit and the TTC subway.

     

    Transaction Background

     

    SNC-Lavalin will lease from Slate Office approximately 215,000 square feet of research, development and office space in Sheridan Park in Mississauga, Ontario. The Lease will have an initial term of 10 years and include an option to lease an additional 28,000 square feet increasing the total area to approximately 243,000 square feet.

     

    SNC-Lavalin is an existing key tenant of the REIT, currently with approximately 222,000 square feet under lease, representing approximately 5% of net operating income on an annual basis. Under a corporate reorganization mandate by the Tenant in early 2015, the Tenant committed to consolidating its various office and research premises into a campus-style facility in order to better reflect the Tenant’s image as a global leader in nuclear research and development.

     

    The REIT is able to meet SNC-Lavalin’s requirement on the basis of its (a) existing tenancy and relationship with SNC-Lavalin and position as the largest property owner in Sheridan Park (b) ability to deliver sound leasing economics by retrofitting an existing property with innovative and contemporary building systems and (c) ability to provide the tenant with a strategic location for its global headquarters proximate to major infrastructure, transit and amenities.

     

    About Slate Office REIT


    Slate Office REIT is an open-ended real estate investment trust. The REIT’s portfolio currently comprises 47 strategic and well-located real estate assets located primarily across Canada’s major population centres. The REIT is focused on maximizing value through internal organic rental and occupancy growth and strategic acquisitions. Visit slateam.com/SOT to learn more.

     

    About SlateAsset Management L.P.
    Slate is a leading real estate investment platform with $3 billion in assets under management. Slate is a value-oriented company and a significant sponsor of all its private and publicly-traded investment vehicles, which are tailored to the unique goals and objectives of its investors. The firm’s careful and selective investment approach creates long term value with an emphasis on capital preservation and outsized returns. Slate is supported by exceptional people, flexible capital and a proven ability to originate and execute on a wide range of compelling investment opportunities. Visit slateam.com to learn more.

     

    About SNC-Lavalin


    Founded in 1911, SNC-Lavalin is one of the leading engineering and construction groups in the world and a major player in the ownership of infrastructure. From offices in over 50 countries, SNC-Lavalin’s employees are proud to build what matters. Our teams provide EPC and EPCM services to clients in a variety of industry sectors, including oil and gas, mining and metallurgy, infrastructure and power. SNC-Lavalin can also combine these services with its financing and operations and maintenance capabilities to provide complete end-to-end project solutions. www.snclavalin.com

     

    SOURCE Slate Office REIT

     

    Image with caption: “Architect’’s rendering of reimagined SNC-Lavalin campus, Sheridan Park. (CNW Group/Slate Office REIT)”. Image available at:

    http://photos.newswire.ca/images/download/20150924_C6514_PHOTO_EN_506549.jpg

    For further information: Scott Antoniak, Chief Executive Officer, Slate Office REIT, +1 416 583 1764, scott@slateam.com; Conor McBroom, Vice President, Investor Relations, Slate Asset Management L.P., +1 416 619 4284, conor@slateam.com

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