The former head of the Toronto Community Housing Corporation has stepped down from his post at Build Toronto.
On Friday, Build Toronto’s Board of Directors released the following statement:
“The Board of Directors of Build Toronto has determined that the recent allegations set out in the Auditor General’s report regarding Toronto Community Housing Corporation make it impossible for Mr. Ballantyne to continue to perform his duties for Build Toronto.” (Read the full statement below)
Ballantyne had held the position since June 2009. Build Toronto is charged with improving the value of city-owned real estate, including selling properties.
“It is my understanding that Build Toronto has put out a statement regarding Mr. Ballantyne and the Board has acted within its authority. It is now time to move forward,” Ford said.
Last week, Ford raised concerns about Ballantyne. “…the Mayor has spoken with the Chair of Build Toronto and expressed his concerns,” the mayor’s press secretary said on his behalf. “The matter is now in the hands of the Board to take any action that it feels is appropriate.”
Doug Ford, a city councillor and the mayor’s brother, is on that board.
Statement for Release
BUILD TORONTO BOARD OF DIRECTORS
March 11, 2011
Today, Build Toronto’s Board of Directors provided the following statement:
The Build Toronto Board hereby announces that, effective Friday March 11, 2011, Derek Ballantyne, COO and Executive Vice President of Operations for Build Toronto since June 2009, is leaving his position at Build Toronto on mutually agreed terms in accordance with his employment contract.
The Board of Directors of Build Toronto has determined that the recent allegations set out in the Auditor General’s report regarding Toronto Community Housing Corporation make it impossible for Mr. Ballantyne to continue to perform his duties for Build Toronto, whose sole shareholder is the City of Toronto. Build Toronto has to move forward with its multiple plans to assist the City of Toronto in unlocking the value in land assets in service to the City.
Build Toronto thanks Derek for his significant contribution to the start-up of Build Toronto. The Board of Directors and Staff wish him well in the pursuit of new opportunities. Build Toronto will not be offering any further public comment on this matter.