Montréal, November 28, 2013 – The Board of Trade of Metropolitan Montreal is aware that the municipal integrity protection squad ‒ the Escouade de protection de l’intégrité municipale (ÉPIM) ‒ has searched Stationnement de Montréal offices. In light of the search, the Board of Trade would like to clarify its role with the company.
“The Board of Trade, along with the Ville de Montréal, is one of the founders of the Société en commandite Stationnement de Montréal,” said Michel Leblanc, President and CEO of the Board of Trade of Metropolitan Montreal. “When Stationnement de Montréal was created in 1994, the Ville de Montréal was looking for ways to make its involvement in paid parking within its territory more efficient and profitable. Many other cities have delegated parking management to third parties, including boards of trade. Montréal drew on these models to create the Société en commandite Stationnement de Montréal.”
“As the limited partner of Stationnement de Montréal, the Board of Trade’s role is to name eight corporate directors, two of whom are designated by the Ville de Montréal,” Mr. Leblanc said. “These directors are responsible for governance. Under the terms of the agreement, the Board of Trade cannot take part in the management of Stationnement de Montréal activities.”
“According to the agreement, Stationnement de Montréal pays a set, non-indexed amount of $400,000 to the Board of Trade annually,” Michel Leblanc said. “This amount is paid to the Board of Trade as a limited partner of the company. This money contributes to the Board of Trade’s mission as a leading player in the city’s economic development.”
“Since it was founded, Stationnement de Montréal has paid over $450 million to the Ville de Montréal,” Mr. Leblanc said. “The business model adopted in 1994 has proven its worth, as demonstrated by the growth in royalties paid to the city.”
“Without speculating as to the outcome of the investigation, the Board of Trade has seen no indication that any failure of governance would have led to misconduct,” Mr. Leblanc said. “But we hope that investigators will shed light on the situation.”
About the Board of Trade of Metropolitan Montreal
The Board of Trade of Metropolitan Montreal is made up of some 7,000 members. Its mission is to represent the interests of the business community of Greater Montréal and to provide individuals, merchants, and local businesses of all sizes with a variety of specialized services to help them achieve their full potential in terms of innovation, productivity, and competitiveness. The Board of Trade is Quebec's leading private economic development organization.
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Source :
Michelle LLambias Meunier
Advisor, Media Relations
Board of Trade of Metropolitan Montreal
Tel.: 514 871-4000, ext. 4042
mllambias@ccmm.qc.ca
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