Katie Franzios on the Woodbine Live tax break.

It's the first time Toronto has ever given the nod to a property tax break this huge. The city will be forgoing $120 million over 20 years for the a new entertainment complex north of the city. Woodbine Live! will have restaurants, big box stores and even a skating rink.

It's expected to bring in tourism dollars and create over 9,000 jobs.

Despite the growth it would provide to its surrounding area council was concerned about funding a site where a casino could land up.

Listen to CFRB's Katie Franzios' report.

Mayor David Miller says he doesn't think that would happen given there is already a gambling facility - a racetrack with slot machines - there.

If a casino were to be built, the city would take away funding for that portion of the project.