Dalton McGuinty's $63,000,000 crystal blob
Is $60 million a lot of money to Dalton McGuinty? Don't expect a straight answer. If my sources are right, then for the premier of Ontario, it really depends on who is getting the $60 million and why.
Autistic children? Um, sorry, too rich for his blood.
Goofy architecture backed by Ontario's wealthiest citizens? Sure, and who can Dalton McGuinty make the cheque out to?
Maybe it really depends on which group of people is worth more in political donations in the future.
The Royal Ontario Museum is undergoing a massive upgrade. The Renaissance ROM project will add 40,000 square feet of gallery space:
On February 26, 2002, the ROM announced the selection of Daniel Libeskind as the lead architect for Renaissance ROM, from a field of 50 international firms, with local partner Bregman + Hamann Architects. Libeskind's "Crystal" design provides practical and elegant solutions to many of the ROM's current challenges. The $200 million (CDN) project will be built in two phases, beginning May 2003, and will be completed in 2006, with Vanbots Construction Corporation providing Construction Management services.
Practical?
Yes, I know, it looks like the ROM is being consumed by a giant crystal blob. But you lack vision. A visionary would look past the fact that this thing looks like something that is one hailstorm away from disaster.
The museum-eating crystal blob has a name -- the Michael Lee-Chin Crystal. It is named after one of the major donors. The funding for Renaissance ROM is a story in of itself:
The overall project budget for Renaissance ROM is $270 million, comprising total construction costs of $240 million, plus approximately $30 million for the fit-out of the restaurant and retail facilities, financing charges and fundraising expenses.
On March 19, 2002, the Ontario Government, through the SuperBuild Sports, Culture and Tourism Partnerships initiative, announced funding of $30 million for Phase One of the project. On May 31, 2002, a matching $30 million commitment was made by the Government of Canada, through the Canada-Ontario Infrastructure Program.
On April 2, 2003, the ROM announced a lead gift of $30 million from Michael Lee-Chin, Chairman and CEO of AIC Limited; in recognition, the ROM named the new addition the Michael Lee-Chin Crystal.
The private sector Renaissance ROM Campaign, Canada's largest cultural fundraising campaign, was launched on May 28, 2003 on the occasion of the Groundbreaking. The Hon. Hilary M. Weston serves as Campaign Chair, with a broad-based 80-member Campaign Cabinet committed to the ROM's renewal.
On March 18, 2004, at the Museum's 90th birthday, the Renaissance ROM Campaign reached the $150 million mark with a $20 million gift from the Hon. Hilary M. and Galen Weston and the W. Garfield Weston Foundation, and eight other gifts. The ROM's 1933 heritage wing on Queen's Park will be named for Hilary and Galen Weston and the Weston family in perpetuity.
On March 23, 2006, the Government of Ontario announced further funding of $12 million for Phase Two of Renaissance ROM.
On November 7, 2006, the ROM announced a gift of $12 million from Robert Schad and Family.
On January 18, 2007, the ROM announced a gift of $10 million from Teck Cominco Limited. As of January 18, 2007, the Renaissance ROM Campaign has raised $218.3 million for capital costs, plus $31.3 million for related programs and endowment priorities, for a total of $249.6 million.
On April 26, 2007, the ROM announced CIBC as Inaugural Season Sponsor of the Michael Lee-Chin Crystal.
On May 30, 2007, the ROM announced $12 million in new major gifts to the Renaissance ROM Campaign, bringing the total amount raised at the time of the opening of the Michael Lee-Chin Crystal to $262 million. This includes $228 million raised for capital construction costs, plus $34 million for related priorities (such as endowed programs and curatorial positions).
When Mike Harris made $30 million available, it was under the condition that it was a one-time contribution, and that the ROM and the sponsors would cover the rest.
Now that funding information came from the Fact Sheet provided by the Royal Ontario Museum. Lots of gifts. Funny that the no mention is made of the help provided to the ROM by the Ontario Financing Authority in 2004. The OFA advises the Province of Ontario and Crown agencies (like the ROM) with borrowing:
The OFA assisted the Royal Ontario Museum (ROM) in acquiring up to $63.5 million in financing for the Renaissance ROM project by providing advice and assisting in negotiations with lenders. It is estimated that the joint efforts of the ROM and the OFA saved approximately $3.9 million in financing costs on a present-value basis.
Lenders? What lenders? There was no mention of lenders. Donors, not lenders.
In the 2005 audit, here is what is said of Renaissance ROM:
The Board of Trustees has approved phase I of a major redevelopment project for the Museum ["Renaissance ROM Project"]. The project will be completed in two phases with a total estimated cost of $200 million before financing and fundraising costs. Phase I, with a total cost of $150 million, is planned to be substantially completed in December 2005 or early 2006. Phase II will cost an additional $50 million and is scheduled to be completed one year later. The total project involves the construction and restoration of the original buildings as well as 40,000 square feet of new gallery spaces. Renaissance ROM will permanently alter the Museum's economic base, providing additional annual market income to sustain excellence across the board.
Funding for this project will come from the public and private sectors. To date the Museum has received commitments from the federal and provincial governments of $60 million. The balance will be funded through a fundraising campaign that is currently underway. As of June 30, 2004, the Museum has invested $85.5 million [2003 - $22.9 million] in the project which is recorded on the balance sheet as capital assets.
Now move forward two years, to the 2007 audit:
The Board of Trustees has approved Phase I of the Renaissance ROM Project. The project will be completed in two phases with a total estimated cost of $246,000,000 before financing and fundraising costs. Phase I, with a total cost of $224,800,000, is planned to be substantially completed in June 2007. Phase II will cost an additional $21,200,000 and is scheduled to be completed as additional funding becomes available. The total project involves the restoration of the original buildings as well as the construction of 40,000 square feet of new gallery spaces. The Renaissance ROM Project will permanently alter the Museum's economic base and is expected to provide additional annual market income to sustain excellence across the board.
Funding for this project is coming from the public and private sectors. As at March 31, 2007, the Museum has received commitments from the federal and provincial governments of $72,000,000 and from the private sector of $123,000,000. The balance is expected to be funded through additional government grants, the development of 90 Queen's Park and the ongoing fundraising campaign being carried out by The Royal Ontario Museum Foundation [the "Foundation"] [note 12]. As of March 31, 2007, the Museum has invested $213,708,000 [2006 - $164,241,000] in the project, which is included in capital assets on the balance sheet [note 4].
In fact, you can see a loan dramatically increase from 2005 through to 2007:
2005:
The Museum has a revolving reducing instalment term loan facility of $55,000,000 to assist with the financing of phase I of the Renaissance ROM Project...As of June 30, 2004, $13,278,000 was outstanding in connection with this credit facility.
2006:
The Museum has a revolving reducing instalment term loan facility [the "Loan"] of $55,000,000 to assist with the financing of phase I of the Renaissance ROM Project...As of June 30, 2004, $27,544,000 was outstanding in connection with this credit facility.
2007:
The Museum has a revolving reducing instalment term loan facility [the "Loan"] of $85,000,000 to assist with the financing of Phase I of the Renaissance ROM Project and $8,000,000 to assist with the financing of Phase II...As at March 31, 2007, $58,736,000 [2006 - $40,745,000] of bankers' acceptances were outstanding in connection with the Loan
So something happened that required the ROM to increase the line of credit associated with Phase I from $55,000,000 to $85,000,000. The overall cost of the project to build the museum-eating crystal blob as gone up from $200 million to $250 million, and is probably more now.
Remember that $63,000,000 mentioned by the OFA? I've been told that the CIBC is holding the mortgage, registered on title against the ROM and its collections.
But with all those well-heeled donors, something like this can be absorbed, right? But also remember that many of the museum's exhibits, now acting as collateral, were donated by these patrons:
Gifts to the Collection
As a registered charity, the Royal Ontario Museum can issue donation receipts for the fair market value of gifts in kind, such as artifacts or specimens. Additional tax benefits can be afforded to you if your gift is certified as being of cultural importance and national significance by the Canadian Cultural Property Export Review Board.
Please call the Office of the Governors at 416.586.8003.
It must be nice to have the trinkets on display in the crystal blob, with the words "A generous donated by Mr J Smith" on the display plaque. Why take the risk of it reading "Property of the CIBC" one day?
Still, it would be easier for the little people handle to problem? That way Ontario's elite won't have to worry about dealing with the bank. And anyway, Dalton McGuinty is always ready to lend a helping hand to Ontarians in need.
The fact is that as you are reading this, sources tell me that Dalton McGuinty's government is negotiating with the CIBC to take over the loan, putting you and me on the hook for $63,000,000 to pay for the crystal blob.
How generous of Dalton McGuinty to help out.
Now consider that Dalton McGuinty's government fought a court case in 2005 over funding for special education for autistic children:
A court ruling ordering the Ontario government to pay for an expensive autism treatment for children over age six will be appealed, the province said Monday.
While the opposition heckled the Liberals Monday for breaking an election promise to fund the autism treatment past age six, the government said it has increased funding for autism treatment.
CTV News Toronto reporter Paul Bliss said the autism ruling, if upheld, could cost the province $60 million per year.
Ontario's current provincial deficit is estimated at $6 billion.
Gee, $60 million for the kids and their families to help in their education or $60 million for the museum's blob. Life is full of tough choices when you're premier.
For Dalton McGuinty's sake, let's hope my sources are wrong. Otherwise it doesn't paint a very flattering picture of the premier.
When a group a parents of children with learning disabilities wants Dalton McGuinty to keep his promise to help their autistic children, he has to be dragged kicking and screaming into court over the $60 milllion cost, pleading poverty as an excuse to avoid having to pay.
But when the ROM, used to using its charitable tax exempt status to entice donations from Ontario's wealthiest in exchange for the tax receipt, is forced to go to the bank and mortgage its exhibits as collateral for the $63 million loan to cover the extra costs of making a building that looks like a snowflake, well then Dalton McGuinty rides in to the rescue with that $63 million cheque.
I mean, what's $63 million between friends? Maybe the parents of those autistic children should have tried harder to be among Dalton McGuinty's friends.
Addendum: Originally, Michael Lee-Chin got to have his name attached to the crystal blob after having donated $30 million. If Dalton McGuinty is really using twice that amount in taxdollars to protect the museum and its wealthy partrons from having to deal with the bank, then maybe it deserves a new name.Skew my story on Skewz.com
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Comments
A compelling piece of investigative reporting there, Angry; at $6,750 per square foot this must be the most expensive bit of building ever constructed in Canada. I seem to recall that the new War Museum in Ottawa (under the auspices of our old friend J. Chrétien) came in at around $150 per square foot.
Dalton certainly appears to have his priorities and given his apparent popularity it would seem that a good portion of Ontarians share them.
But then again, we won't see anything about this in the MSM.
Posted by: Bob in Ontario at September 27, 2007 02:31 AM
I've been really excited about the renovations at the ROM. The ROM is one of my favourite museums, it's one of the best science/history museums out there. I just wish they didn't spend so much money on the ugly architecture, and instead put more money into the great scientific research that they do there and the exhibits.
Posted by: jonny_eh at September 27, 2007 07:43 AM
....and the miners of Ontario's OFFICIAL GEMSTONE, Amethyst, are all starving, going belly up, and selling out their gem mines to Americans, for peanuts.
Posted by: Feldwebel Wolfenstool at September 27, 2007 08:16 AM
Should be in line for top honors for the ugliest structure ever built. Looking at it for a prolonged period does something to the psyche, like it could drive one mad.
Can't figure the electorate, in spite of such glaring examples of waste and misplaced priorities to outright lies, well documented, McGuinty remains nine or ten points above the Tory Conservatives.
Posted by: Libby at September 27, 2007 08:30 AM
That design is hideous!
It looks like either a drug-dazed hyper-cynic or a schizophrenic designed it.
So much for history and good taste.
What a joke on the people of Ontario.
Posted by: aek at September 27, 2007 09:26 AM
Great investigative reporting piece.
If Premier Dalton takes over the CIBC loan, let us change the name to "Dalton's Dome". ( Recall the Skydome debacle). How about "The Dalton Broken Crystal" ( Not to be confused with Doulton Fine China). or how about "Dalton's Broken Dreams", or "Dalton's Broken Promises".
Steve, how about a contest to name the new Crystal Blob, the Monster that Ate the ROM and the Liberal Government, in honour of Dalton bailing out The ROM Crystal.
Posted by: Mad as Hell at September 27, 2007 09:38 AM
Steve:
I think you are being a bit too harsh on us poorly-understoond billionaires, or in my case, a son of a billionaire.
You forget we are on the margins of society.
We are shunned by most working people, especially people like me who survive on my trust fund distributions.
We have rights too.
People like the Westons and that Lee Chin fellow deserve to be bailed by the McGuinty government as well.
Bailing out Billionaires has a nice literary ring to it.
SAVE OUR HOME, SAVE THE ROM, SAVE OUR WORLD.
Dalton has my vote.
Posted by: Drinking Thru My TrustFund at September 27, 2007 09:53 AM
We have here in Kitchener a similar monolith albeit significantly less in money.It is in front of the court house I believe. A sculpture
was erected on the side lawn at a cost of $40,000 or so (20 years ago).It looks like a piece of bowel! Every time I pass it I shake my head.
This crystal could be mcGuinty's lasting legacy. It looks like a dilithium crystal.Who knew Dalton was such a trekkie. Where are his Spock ears?
Posted by: David at September 27, 2007 10:05 AM
Hey, Rich TrustFund guy:
You make me want to puke all over your tan Topsiders.
Guys like you were born with silver spoons up your butts.
I am sick of hearing about you guys and your fancy Spoke Club,
your elitist charity balls, your Caledon farms and Muskoka mini mansions.
Get a job, loser.
If McGuinty and his group bail out the ROM, I am going to burn
my Liberal membership card right on the Crystal steps.
I am not a fan of John Tory. But even he would not be that stupid to
bail out you rich parasites.
Posted by: WorkinJoe at September 27, 2007 10:28 AM
The Crystal is a brilliant design.
It reflects Toronto upon itself. Our fears, our self-doubts,
our anxieties, our striving for perfection and moral clarity
in a fractured world.
Posted by: Cynthia at September 27, 2007 10:47 AM
Cynthia:
Say What?
Posted by: WorkinJoe at September 27, 2007 10:50 AM
"...our striving for perfection and moral clarity in a fractured world."
Cynthia, umm, do you pay GST on that stuff you smoke?
...and here I thought 'ROM' was left over prop sets from 'TRON'.
Posted by: tomax7 at September 27, 2007 11:47 AM
It looks like a piece of shit, but then so does McAsswipe and his ScumBag Fascist Party of Ontario
Posted by: Pissedoff at September 27, 2007 12:16 PM
I actually kinda like the design.
That said, I'd suggest issues like this needs to be discussed, at least initially, without the subjectivity of whether or not a design is appealing. If the financial commitment is unwise, I would think it's unwise whether or not the design is well liked.
The actual design should only really come into play if it is first determined that the financial expenditure has merit to start with.
If it makes sense financially, then lets move on to considering the design.
Posted by: Denis at September 27, 2007 12:24 PM
Cynthia said "The Crystal is a brilliant design.
It reflects Toronto upon itself. Our fears, our self-doubts,
our anxieties, our striving for perfection and moral clarity
in a fractured world."
LMAO. Cynthia, I love it. I think your description fits it to a tee and the ROC, including QC (this time), will have another fine reason to hate T.O.
BTW, nice work Steve. It's just another reason to mosey on over to my local CPC candidate and donate that $25 I've been meaning to give. Hey Hey! Ho ho! Dalton's gotta go!
Posted by: Phil in Ottawa at September 27, 2007 12:26 PM
Cynthia:
Didn't we hook up after the BSS Formal in 97?
I think we ended up partying at your dad's loft on King Street.
Of course 97 and 98 is mostly a fog to me.
But I love your take on The Crystal.
Pure poetry, like you, Cynthia.
I love your private school breeding. Your artistic temperment.
Cynthia, you are not properly appreciated, like the fine Crystal.
In fact the Rosedale elite, the Westons, the Thomsons, are not particularly appreciated in Toronto.
That is why I'm voting for Dalton McGuinty.
He reminds me of my nerdy English lit teacher at UCC in the lower years.
He appreciates us. We are the new Medicis.
Help us out and we will help you out.
Posted by: Drinking Thru My TrustFund at September 27, 2007 01:38 PM
You are all philistines. The lot of you.
Especially, that boor with the trust fund.
The Crystal speaks to our collective core. The design and the execution inspire us, disturb us and force us to question the inner and external turmoil around us.
How can you put a price on that?
I challenge you. What better use of our funds?
Posted by: Cynthia at September 27, 2007 01:58 PM
Cynthia asks rhetorically, " What better use of our funds?"
That is precisely the issue. I personally do not mind if the social and cultural elite of Toronto want to fund the construction of the Crystal. But when the Ontario Government has to step in and take over the financial obligations that were the responsibility of ROM and its wealthy billionaire donors, then we have to take a stand.
Certainly we have better public/social use of $75 million.
Certainly, autistic children, greater access to health care and quality education are more deserving than salvaging, to paraphase Cynthia, " the fractured wetdreams of Rosedale nobility".
Posted by: WorkinJoe at September 27, 2007 02:19 PM
WorkinJoe:
Touche, I guess there is some intelligent life and intellectual life north of St. Clair.
Posted by: Cynthia at September 28, 2007 07:15 AM
Cynthia:
No offence, Cynthia, but you and Drinking Thru My TrustFund should mate and produce trust fund heirs and heiresses, otherwise your species of rich, beautiful, hideously shallow pod people will soon become extinct.
But the more important issue here, is that Dalton McGuinty and his Government are hiding all kinds of financial disasters just waiting to explode after the election. This ROM deal is just the tip of iceberg.
I predict that Dalton's financial misdealings at the expense of the Ontario taxpayers will reach titantic proportions.
Posted by: WorkinJoe at September 28, 2007 07:24 AM
RE the ROM Blob:
It's a shame that we the rabble are forced to pay taxes for the excesses of the idle, inbred tuxedo crowd. How about if you want abstract crap, YOU pay for it ALL BY YOURSELF? If you want art we all can appreciate, give us a call.
Posted by: Larry at September 28, 2007 11:23 PM
Larry:
You are on to something there, brother.
"inbred tuxedo crowd". I like that.
Pass the word.
Posted by: WorkinJoe at September 29, 2007 08:11 AM
The crystalline wart on the ROM building is not only ugly, it is terrifyingly overbyuilt for the streetscape. It is actually frightening when you come down Avenue Road to Bllor and look on it. We keep the children away, lest they be frightened.
It is a great conversation peice though. Every out-of-town visitor we have had recently, without exception (including a retired architect), thinks it looks ugly or stupid.
Concept art/architecture is all fine, so long as the drain on the public teat is negligible. To be extraordinarily expensive and extraordinarily ugly is inexcusable.
Posted by: murray at October 1, 2007 10:35 AM
I thought Cynthia was being ironic.
Posted by: murray at October 1, 2007 10:40 AM
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Posted by: njracks at July 7, 2008 01:09 AM
Abstract paintings
Angel painting
animal paintings
ballet paintings
beach painting
Boat painting
building painting
Children painting
Christ painting
church painting
City painting
Cottage painting
Dancer painting
field painting
Floral paintings
Garden painting
Hunting paintings
impressionist painting
Knight painting
Lady painting
Landscape painting
Lighthouse paintings
Music painting
Nude painting
Oriental paintings
Piano painting
Seascapes paintings
Still Life paintings
street painting
sunset painting
Tropical paintings
Venice paintings
Village painting
wine painting
Posted by: aswkin at July 17, 2008 05:35 AM
 
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