"there was nothing we could not afford", but in 1954, he cautioned against the belief that "Metro has more money in the aggregate than we all had individually." Later in his term, Gardiner named $100 million as the upper limit of annual capital borrowing. He held onto the total figure since "it was a nice round number" until 1961, when he agreed to a five per-cent increase. Later life Gardiner left City Hall in the second week of January 1962. He returned to his law practice, but he did not take on many law cases. He also became a director of the Toronto Dominion Bank; his 100,000 shares made him the largest shareholder in the bank. He also became a director of eleven other corporations. He became involved in several land quarry businesses. He retained one public office: he became Commissioner of Toronto Hydro in 1965 and retired in 1979. He was also a member of the board of governors of York University, to which he donated $50,000. He served as vice-president of the Canadian National Exhibition Gardiner had retired from the Metro Chairmanship because of his ill health, particularly arthritis. He underwent surgery for his conditions in 1962. In 1967, he suffered as stroke, which caused slurring of his speech and problems with memory retention. He received an artificial hip in 1971, however the operation was not a success. Gardiner had to use a wheelchair for mobility. Then, Gardiner became less involved in business and had no directorships by 1975. He retired as partner from his law practice, although he kept an honorary title and small office. After 18 months of illness related to a stroke and arthritis, Gardiner died on August 21, 1983. Gardiner was praised by past and present political colleagues. Phil Givens considered Gardiner the "catalyst for it all, the transition that transformed Metro into one of the great cities of the world." Allan Lamport praised him for his ability to put in long hours on the job. Paul Godfrey considered Gardiner his idol, admiring his ability to "solve political problems and bring people together". Bill Davis praised Gardiner for his "remarkable contributions and selfless service." Art Eggleton said that "a towering giant" was lost from the political scene. Gardiner is buried at Mount Pleasant Cemetery in Toronto, Ontario. The opening day of the fifty-ninth year of The Empire Club of Canada was designated "Frederick G.