Item - 2012.GM15.11

Tracking Status

  • City Council adopted this item on July 11, 2012 without amendments and without debate.
  • This item was considered by the Government Management Committee on June 27, 2012 and adopted without amendment. It will be considered by City Council on July 11, 2012.

GM15.11 - Energy Project at Exhibition Place

Decision Type:
ACTION
Status:
Adopted on Consent
Wards:
All

City Council Decision

City Council on July 11, 12 and 13, 2012, adopted the following:

 

1.         City Council approve a capital  expenditure  in the amount of $4.5 Million from recoverable debt to connect existing energy generation assets at Exhibition Place to supply  heating, cooling and water heating  to the proposed hotel development as well as to existing event facilities including the Ricoh Coliseum, Coliseum Complex, Direct Energy Centre, Allstream Centre.

 

2.         City Council increase the 2012-2021 Approved Capital Budget and Plan for the Sustainable Energy Program be increased by $4.5 million gross, $0 net, funded from recoverable debt over a maximum of ten years with a nominal interest rate of 5%; with cash flows of $0.100 million in 2012, $2.4 million in 2013 and $2.0 million in 2014.

 

3.         City Council authorize the City and/or Exhibition Place to enter into an energy services agreement with Princes Gates Hotel Limited Partnership for the supply of thermal energy on terms and conditions satisfactory to the Exhibition Place Chief Executive Officer and the Deputy City Manager and Chief Financial Officer and in a form and content satisfactory to the City Solicitor.

 

4.         City Council direct that the information contained in Confidential Attachment 1 to the report (June 13, 2012) from the Deputy City Manager and Chief Financial Officer labelled "General Terms" remain confidential until the agreement is executed; and the confidential information labelled "Financial Terms" remain confidential indefinitely as it pertains to the security of property belonging to the City or one of its agencies or corporations.

 

The confidential information labelled "General Terms" in Confidential Attachment 1 to the report (June 13, 2012) from the Deputy City Manager and Chief Financial Officer remains confidential at this time in accordance with the provisions of the City of Toronto Act, 2006 as it pertains to the security of property belonging to the City or one of its agencies or corporations.  The confidential information labelled "General Terms" will be made public after the agreement is executed.

 

The confidential information labelled "Financial Terms" in Confidential Attachment 1 to the report (June 13, 2012) from the Deputy City Manager and Chief Financial Officer remains confidential in its entirely in accordance with the provisions of the City of Toronto Act, 2006 as it pertains to the security of property belonging to the City or one of its agencies or corporations.

Confidential Attachment - The security of the property of the municipality or local board

Background Information (Committee)

(June 13, 2012) Report from the Deputy City Manager and Chief Financial Officer on Energy Project at Exhibition Place
https://www.toronto.ca/legdocs/mmis/2012/gm/bgrd/backgroundfile-48406.pdf
(June 13, 2012) Confidential Attachment 1 on Exhibition Place Energy Project

GM15.11 - Energy Project at Exhibition Place

Decision Type:
ACTION
Status:
Adopted
Wards:
All

Confidential Attachment - The security of the property of the municipality or local board

Committee Recommendations

The Government Management Committee recommends that:

 

1.         City Council approve a capital  expenditure  in the amount of $4.5 Million from recoverable debt to connect existing energy generation assets at Exhibition Place to supply  heating, cooling and water heating  to the proposed hotel development as well as to existing event facilities including the Ricoh Coliseum, Coliseum Complex, Direct Energy Centre, Allstream Centre.

 

2.         The 2012-2021 Approved Capital Budget and Plan for the Sustainable Energy Program be increased by $4.5 million gross, $0 net, funded from recoverable debt over a maximum of ten years with a nominal interest rate of 5%; with cash flows of $0.100 million in 2012, $2.4 million in 2013 and $2.0 million in 2014.

 

3.         City Council authorize the City and/or Exhibition Place to enter into an energy services agreement with Princes Gates Hotel Limited Partnership for the supply of thermal energy on terms and conditions satisfactory to the Exhibition Place Chief Executive Officer and the Deputy City Manager and Chief Financial Officer and in a form and content satisfactory to the City Solicitor.

 

4.         City Council direct that the confidential information contained in Attachment 1 to the report (June 13, 2012) from the Deputy City Manager and Chief Financial Officer labelled General Terms remain confidential until the agreement is executed; and the confidential information labelled Financial Terms remain confidential indefinitely as it pertains to the security of property belonging to the City or one of its agencies, boards or commissions.

Origin

(June 13, 2012) Report from the Deputy City Manager and Chief Financial Officer

Summary

The Energy Efficiency Office in the Facilities Management Division recently completed a study of energy opportunities at Exhibition Place.  There are existing but separate energy assets on site, and the study concluded that by connecting them, significant financial and operational benefits could be obtained, in part by selling excess energy capacity to a proposed hotel development. 

 

The developer of the proposed hotel at Exhibition Place, Princes Gates Hotel Limited Partnership, is on a timeline to obtain building permits in 2012, start construction in January 2013, and complete construction of the hotel in time for the 2015 Pan Am games.  The hotel developer is prepared to revise the hotel's design to source heating, cooling and water heating from the proposed distributed energy system, but requires assurance that the project will be supported by the City prior to proceeding with such redesign.

Background Information

(June 13, 2012) Report from the Deputy City Manager and Chief Financial Officer on Energy Project at Exhibition Place
https://www.toronto.ca/legdocs/mmis/2012/gm/bgrd/backgroundfile-48406.pdf
(June 13, 2012) Confidential Attachment 1 on Exhibition Place Energy Project

Motions

Motion to Adopt Item moved by Councillor Paul Ainslie (Carried)
Source: Toronto City Clerk at www.toronto.ca/council