TORONTO

Liberal Leader Kathleen Wynne should disclose all the financial details of the MaRS bailout before voters head to the polls June 12, Progressive Conservative candidate Vic Fedeli says.

The $317-million price tag — which could balloon to close to $600 million once amortization and other costs are factored in — is not being spent on new classrooms or emergency rooms, Fedeli said Sunday.

“You won’t even find a counter where you can renew your driver’s licence,” the Nipissing candidate said. “Instead, you will find floor after floor of fancy offices for new bureaucrats she plans to hire. One of the most expensive pieces of real estate in Canada, basically Kathleen Wynne has just used your tax dollars to purchase the Trump Tower of Canadian bureaucracy.”

The PCs have disclosed confidential cabinet documents that show the government plans to purchase the MaRS Phase 2 building in Toronto.

The U.S.-based private sector real estate developer, Alexandria Real Estate, has apparently had difficulty finding tenants for the tower and is in danger of defaulting on a loan guaranteed by Ontario taxpayers, according to the document.

The tower is so expensive to rent that the space occupied by a garbage can would cost $29 a month, Fedeli said.

Wynne has said the negotiations are still ongoing, and disclosing details might jeopardize the deal.

Taxpayers will come out ahead at the end of the day, she said, because public servants will be moved into the building, freeing up leased space elsewhere.

Liberal St. Paul’s candidate Eric Hoskins said MaRS has been a success story that has created thousands of jobs.

“I am a medical doctor. I really personally and professionally appreciate the work that they have done to actually help create a life sciences hub and cluster here in Ontario and in Toronto, which is resulting in a tremendous contribution to our economy,” he said Sunday.

The Liberal cabinet discussed entering into negotiations to consolidate some public sector offices at MaRS but never completed the deal because of the election, and any party that forms government after June 12 will have to make a decision, he said.

“At this point, it’s not an approved government decision,” Hoskins said. “It’s a proposal.”

Fedeli said the documents obtained so far show that the serious negotiations are completed and only a few “technical” details are left to be finalized.

“We’re not about bailing out real estate corporations in Ontario,” Fedeli said, when asked if the PCs too would buy out the private real estate developer in the project, let the loan go into default or sell off the building.

NDP candidate Jagmeet Singh said his party has proposed a financial accountability officer to look at government proposals, such as the possible purchase of MaRS Phase 2, before the deal is signed to determine if taxpayers will get good value for their money.