…as Council begins to deliberate next week on the London Economic Development Corp. (LEDC) request for a $355,000 increase to its $1.86 million budget, which was approved last week by Board of Control without even having seen a budget from the agency. Apparently, not having a budget is a strategic plan for receiving Board of Control's approval. Responding to questions about the agency's proposal to duplicate existing services as a downtown realtor, chief executive Peter White divulged only that "We have some ideas about what we can do with this program," and continued that the LEDC isn't certain how $200,000 for the program would be spent.
If anyone remembers when the LEDC was first created it was stated that the it would only be temporarily funded by the Taxpayers .... eventually the " Private Sector " would fully fund it. Back then the LEDC used to disclose it's employees in the $100,000 as legistlated provincially. Mysteriously they stopped reporting this because the City changed their status to a " Purchasing Contract ".