Item - 2019.TA3.3

Tracking Status

This item was considered by Board of Directors of the Toronto Atmospheric Fund on July 11, 2019 and was adopted without amendment.

TA3.3 - Purchase Contract Value Adjustment

Decision Type:: ACTION

Status:: Adopted

Board Decision

The Board of Directors of the Toronto Atmospheric Fund:

1. Approved increasing the total value of the contract awarded to Ecosystem Energy Inc. to $8 million (net of reimbursable HST) to cover the installation of additional energy efficiency measures at three Toronto Community Housing buildings.

Decision Advice and Other Information

The Vice President, Policy and Programs, Toronto Atmospheric Fund gave an overview of Purchase Contract Value Adjustment.

Origin

(June 27, 2019) Report from the Chief Executive Officer

Summary

This report recommends increasing the contract Toronto Atmospheric Fund (TAF) awarded to Ecosystem Energy Inc. in 2015 to design and implement the retrofit of seven Toronto Community Housing (TCH) buildings to a total value of $8 million net of reimbursable HST. The purpose is to install additional energy-saving measures in three (of the original seven) buildings which will further reduce energy consumption and carbon emissions. TAF will incur no financial costs as TCH will be fully funding the additional work.

Background Information

(June 27, 2019) Report from the Chief Executive Officer on Purchase Contract Value Adjustment
https://www.toronto.ca/legdocs/mmis/2019/ta/bgrd/backgroundfile-135546.pdf

Motions

Motion to Adopt Item moved by Councillor Mike Layton (Carried)