TORONTO - While tenants lived in squalid conditions and security concerns fell on deaf ears, the top brass at Toronto’s housing authority helped themselves to more than $2-million in cash kiss-offs and bonuses, the Toronto Sun has learned.
According to information obtained from a Toronto Community Housing Corp. (TCHC) insider, at least eight execs — most of whom either retired, got out while the getting was good or otherwise parted ways with the corporation — got golden handshakes of $150,000 or more in the past three years.
Many of the same people were also handed bonuses over the same period even as the TCHC’s capital repairs backlog grew to $750-million.
Even interim CEO Len Koroneos, who was put in the job to try to clean up the embattled TCHC following the ouster of CEO Keiko Nakamura, got a share of the spoils.
When he left in June — having not been selected for the position full-time — he walked away with at least $461,000 and as much as $600,000 for 18 months work.
According to an amendment to his Interim Employment Agreement — obtained by the Toronto Sun — Koroneos received a $10,000 premium per month starting on Feb. 1 of this year, on top of his $245,000 salary, for doing double duty in the CFO’s job.
more fatty gravy
Toronto housing executives paid more than $2M in bonuses | Toronto & GTA | News | Toronto Sun
According to information obtained from a Toronto Community Housing Corp. (TCHC) insider, at least eight execs — most of whom either retired, got out while the getting was good or otherwise parted ways with the corporation — got golden handshakes of $150,000 or more in the past three years.
Many of the same people were also handed bonuses over the same period even as the TCHC’s capital repairs backlog grew to $750-million.
Even interim CEO Len Koroneos, who was put in the job to try to clean up the embattled TCHC following the ouster of CEO Keiko Nakamura, got a share of the spoils.
When he left in June — having not been selected for the position full-time — he walked away with at least $461,000 and as much as $600,000 for 18 months work.
According to an amendment to his Interim Employment Agreement — obtained by the Toronto Sun — Koroneos received a $10,000 premium per month starting on Feb. 1 of this year, on top of his $245,000 salary, for doing double duty in the CFO’s job.
more fatty gravy
Toronto housing executives paid more than $2M in bonuses | Toronto & GTA | News | Toronto Sun