Language Confusion

Measuring leverage

A good deal of confusion arises in discussions among people who use different definitions of leverage. The term is used differently in investments and corporate finance, and has multiple definitions in each field.<sup>[7]

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I read the story about the Oak Ridges Moraine Foundation being out of funds twice. It appeared in the local newspaper.  I had commented before on  the town's receipt of a letter requesting support for the Foundation to  receive $11 million from the Province  to keep them alive.


It seems they received $15 million from the Province in 2002 .They "leveraged " that to $50 million but now they are down to the last million.  Having spent all the rest. 


They are using the last million to catalogue their successes from spending  money.


A naturalist in Richmond Hill praises their work. Minister  of    Provincial Community Safety and Correctional Services ",Jim Bradley describes their  many accomplishments as laudable and said; everyone admires the work of the foundation."


I thought that was a bit odd. As a Councillor in a  town  situated in the heart of the Oak Ridges Moraine, I had no idea the Foundation existed.  In fact, I drew the ire of a  volunteer member of the Oak Ridges Moraine Trust by referring to the campaign to persuade the Province to continue to funnel millions to the Foundation. I did not know, there are two outfits committed to the preservation, acquisition of land and well-being of the Oak Ridges Moraine.

The story gets weirder and weirder. The Foundation wants another $11 million  from the Province. One of its aims is to secure properties within the Moraine. 

 But that's what  the Oak Ridges Moraine Trust is doing. It's set-up is  to receive properties in the Oak Ridges Moraine,in consideration of  appraised value  exchanged as a tax benefit.

The Trust has ownership and control  but no money to pay overdue  taxes or maintain the lands. They came to the municipality to request we  pay  maintenance  and  taxes  in return for Nothing.Nada, Zilch and Zero. 

The McLeod lands were transferred with an agreement that permitted  no public access for ten years thereafter and  harvested
the good wood in advance.

When  the  ten years expire,  Oak Ridges Moraine Trust will decide what, if any. public access will be permitted.

Heritage Ontario has the same function as  OMRT. They  accept land in return for its value as tax benefit. That organisation owns Sheppard's Bush and High Tor, the farm  previously owned by the estate of Ann Bartley Smith.


They have no financial resources  to manage  lands. So they don't. They get to own it and do nothing with it. We don't get to own it, do nothing with it but take care of it thanks to the Mormac regime.  The land sits for years . No use to anybody

Sheppard's Bush is the exception. The Conservation authority gets to manage that, But they don't have  resources. So we do
it.  But at least we get  use from it.  I think we need to ask Heritage Ontario to review that arrangement. Cut out the middleman.

Now, thanks to the Province, we have three agencies all in the same business.All  with a payroll and a public profile.  One having spent $50 million dollars in the last eight years and looking for another $11 million  from the next Provincial budget

Two of them with ownership and control of lands within the municipality but no resources to manage them The town with no ownership or control but all of the financial liability.


WTF</sup>