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Pu bile Library Terrace Bay, Ont. | TERRACE BAY NEWS || VOL, 21 NO, 36 : SEPTEMBER 20, 1978 25¢ PER COPY Sun Life developing new international office Sun Life Assurance Company of Canada is pleased to be asso- ciated with Olympia and York Developments Limited in Phase | of First Canadian Place. They have reached agreement on all the main points and expec' that legal documentation will be completed shortly. In Sun Life's view, the long-term outlook for a well-located office property in downtown Toronto is out- standing. Their participation in this project should provide an excellent rate of return over the years, says the Company's chairman, Mr Thomas M. Galt. The 35-storey building will be called Sun Life Centre. The Company is purchasing a 457 interest in the land which it will then lease back to Olympia & York under a long-term lease for a fixed rental, together with a share in the net profits gene- rated by the Centre. As part of the agreement, Sun Life will be responsible for 400,000 of the 1.5 million square feet of space in the Centre under a 15-year lease, with renewal option -s for an extended period. Some of this space will be for their own use. The balance will be sublet to tenants on terms which they anticipate will make the lease an attractive inves- tment. Sun Life Centre is expected to be completed in Tate 1980. [t will then become the site of the Head Office now located at 200 University Avenue, Toronto. Plans which they have now de- veloped call for Sun Life to have a staff of between 550 and 600 people located in Sun Life Centre, representing mainly the central management of the Company and a supporting staff organ ization. 'The Ontario Regional Service Centre, Toronto Proper -ty Investment Office and Sales Operations already located at 200 University Avenue are expected to continue there. Under the current plans the Sun Life Building in Montreal will be the headquarters for most of the Canadian insurance operations including the new Quebec organization. In total this would mean a staff of about 1,400 people in the Montreal building. The Company will thus have its worldwide central management in Toronto, with a principal office in Montreal for most Can- adian operations, in Boston for United States'operations, and in London for British operations. . continued page 2 ...evuvss COUNCIL QUOTES The regular meeting of the Council of the Township of Ter race Bay was held an Thursday, September 14th at 7 p.m. Reeve C. Brassard, Councillors M, Hamilton, K. Macleod-and Ge. Ram- say; Clerk-Co-ordinator W, Hanley and M, Simmer were in atten ~dance. ; Isle Smith and three other persons attended to discuss the possibility of a day care centre in the town. A letter was received from a citizen with regard to the dog problem in the Townsite. Council had advertised for a dog control officer in another section of this newspaper. The following accounts were approved for payments Township $62,930.11 Hydro $20,872.39 Library $1,416.23 Recreation $18,169.36 A by-law was passed to prohibit littering in the Township of Terrace Bay. Lloyd (Charlie) Moore has been hired as a Utility Person by the Public Works Department, effective September 11th, 1978. A front end plow and side wing will be purchased from Fort Garry Industries. These will be mounted on a 1978 Chevrolet dump truck and used for airport cleaning of Snow. Research to find causes and cures of arthri- tis is a top priority of The Arthritis Soc- iety. Modern treatment can check disability but it cannot eliminate the disease. The Arthritis Society asks your help to continue this vital research effort.