Item - 2019.GL9.9

The General Government and Licensing Committee recommends that:

1.  City Council pass a By-law pursuant to Section 252 of the City of Toronto Act, 2006, providing authority to:

a.  enter into a Municipal Capital Facility Agreement with Revenue Properties Company Limited, which leases approximately 1,567 square feet of space at 91 Guildwood Parkway to the Toronto Public Library, with respect to a facility for a public library (the "Leased Premises"); and

b.  exempt the Leased Premises from taxation for municipal and school purposes, with the tax exemption being effective from the latest of:

1.  the commencement date of the lease;

2.  the date the Municipal Capital Facility Agreement is entered into; and

3.  the date the Tax Exemption By-law is enacted.

2.  City Council direct the City Clerk to give written notice of the By-law to the Minister of Finance, the Municipal Property Assessment Corporation, the Toronto District School Board, the Toronto Catholic District School Board, le Conseil scolaire Viamonde, and le Conseil scolaire catholique MonAvenir.

This report seeks City Council's authority for the adoption of the necessary By-law to designate a portion of the property owned by Revenue Properties Company Limited and leased to the Toronto Public Library as a Municipal Capital Facility and to provide an exemption for municipal taxes and education taxes. The Municipal Capital Facility Agreement authorized by the By-law will provide an exemption for approximately 1,567 square feet at 91 Guildwood Parkway.