Toronto

<For Chow, the only good news is that it’s not all bad news. If you can look past this approximately $2.1 billion combined budget problem and really squint, you can see some bright spots.

Revenue from business licences is running $600,000 ahead of budget due to increased business activity. Bike Share system revenue was up a staggering 192 per cent last year compared to pre-pandemic levels last year and continues to look impressive this year. The municipal accommodation tax, from hotel stays and short-term rental services like Airbnb, has derived revenues $4.5 million higher than expected so far this year. Heck, even the Toronto Zoo offers reason for a bit of hope. They’re projecting a $1.8-million surplus this year, driven by nearly 70,000 more annual visitors than they expected.

Call me a naive optimist, but in those kinds of numbers I see evidence that this is still a city that people want to invest in, visit and explore.

If Chow can deal with the financial problems of the Tory era, she can help build a city that functions again. But set your expectations accordingly. If there are missteps, let’s not overlook that the baggage Tory leaves behind is incredibly heavy. Chow didn’t create it, but she’s got to carry it.>