City Hall slated to take over Hamilton’s Waterfront Trust assets and programming

The organization that operated much of Hamilton’s public waterfront is shutting down at the end of the month.

After years of financial losses and city bailouts, the Hamilton Waterfront Trust is transferring its assets and programming to the city who will soon manage it all.

However, all programming and operations will continue as is for Hamiltonians.

The City of Hamilton says programs like harbour tours, the Harbour-West Trolley, the outdoor rink and other live entertainment events will still be fully available to the public.

The trust was established back in 2000 as a separate legal entity and handled development and programs along many areas of the waterfront.

It’s dissolving after years of financial instability which included repeated bailout money from the city and lease buyouts. Losses also compounded from the trust operating the Williams Café, back taxes and legal costs tied to a lawsuit and settlement with the former Sarcoa restaurant.

Ward 2 Coun. Cameron Kroetsch came on as Hamilton Waterfront Trust board chair in 2022. He says there currently is no deficit on the books and the transition will offer better efficiencies and tax savings.

Kroetsch says the city will maintain its usual hiring for the spring and summer months as the trust had done before. The only jobs that won’t be retained are the management roles within the organization.

The board chair of the trust says the dissolution papers were signed yesterday and City Hall takes over April 1.

READ MORE: : ‘Financial crises’: Hamilton Waterfront Trust to be dissolved, assets turned over to city