Alphabet unit seeks share of property taxes for Toronto smart city [Reuters (UK)]
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Source: Reuters
Alphabet unit seeks share of property taxes for Toronto smart city | Reuters 3 Min Read TORONTO (Reuters) - Alphabet Inc’s Sidewalk Labs unit is proposing it get a share of property taxes, development fees, and the rising value of Toronto city land as part of a deal to build a smart city, according to the company’s slide presentation made public on Friday. Sidewalk Labs, which provides urban technology infrastructure, is planning a 4.9-acre smart city along Toronto’s harbor front, a project that has already faced opposition from locals over concerns of data privacy. Sidewalk Labs said the proposal was yet to the evaluated by Toronto city and the public and has the potential to generate around C$6 billion ($4.5 billion) to pay for the infrastructure over 30 years. The proposal suggests that a light rail transit and infrastructure be financed by a mix of development charges, incremental property taxes and increased land value. Sidewalk Labs outlined its project for a light railway trans
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