We're up to 77 signatures!  We've still got a far way to go, though...  so please make the time to share our petition.  We've only got a couple of weeks to convince the City of Toronto to make room in the 2024 budget for this investment.

Here's the plan:

They purchase the property for $3.9M +HST and Land-Transfer Tax, which comes to about $4.6M in total.  Then they transfer the leases to Music Mansion for us to manage and grow the business by shifting from 60 monthly rentals to 28 monthlies and 32 hourlies, which gives a lot more opportunity for local and touring musicians to book a rehearsal space.

Once we've hit that goal, we'll be paying about $480k per year in rent to the City, and saving the rest to buy back the building - which we'll be able to do after about 6 years.  So after 6 years, not only will the City get their initial investment back, but they'll have made a bit over $2M in rent.

This will be great for the City budget, which is operating at a $1.5B deficit.  The Economic Development and Culture Office is running at a $118M deficit.  That $2M they'll make from this deal will certainly help toward their 10-year plan, and to head toward getting out of the debt caused by CoViD.

So as you can see, this deal not only benefits the musicians in Toronto, but benefits the entire city.  Please share this with every musician you know, and especially to blogs and the media such as NOW Toronto and BlogTO.  If you know somebody at Much Music or CBC Radio Canada, share it with them too.