Item - 2019.MM6.16
Tracking Status
- City Council adopted this item on April 16 and 17, 2019 without amendments.
MM6.16 - Authorization to Release Section 37 Funds from the Development at 150 Sudbury Street for Capital Improvements to the Theatre Centre at 1115 Queen Street West - by Councillor Ana Bailão, seconded by Councillor Joe Cressy
- Decision Type:
- ACTION
- Status:
- Adopted
- Ward:
- 9 - Davenport
City Council Decision
City Council on April 16 and 17, 2019, adopted the following:
1. City Council increase the 2019 Approved Operating Budget for Non-Program by a one-time basis by $200,000 gross, $0 net, fully funded by Section 37 (Planning Act Reserve Funds) community benefits from 150 Sudbury Street (Source Account: XR3026- 3700458) for transfer to B.A.A.N.N. Theatre Centre for capital improvements to the Carnegie Library building located at 1115 Queen Street West (Cost Centre: NP2161).
2. City Council direct that the $200,000.00 be forwarded to the Theatre Centre subject to the Centre signing an Undertaking governing the use of the funds and the financial reporting requirements.
Background Information (City Council)
https://www.toronto.ca/legdocs/mmis/2019/mm/bgrd/backgroundfile-131874.pdf
(April 15, 2019) Fiscal Impact Statement from the Chief Financial Officer and Treasurer
https://www.toronto.ca/legdocs/mmis/2019/mm/bgrd/backgroundfile-132082.pdf
Motions (City Council)
Speaker Frances Nunziata advised Council that the provisions of Chapter 27, Council Procedures, require that Motion MM6.16 be referred to the Executive Committee. A two-thirds vote of the Council Members present is required to waive referral.