Item - 2019.TA4.3
Tracking Status
- This item was considered by Board of Directors of the Toronto Atmospheric Fund on November 8, 2019 and was adopted with amendments.
TA4.3 - Tri-partite Agreement regarding the Government of Canada Endowment
- Decision Type:
- ACTION
- Status:
- Amended
Confidential Attachment - the security of property belonging to the City of Toronto and Toronto Atmospheric Fund; and a plan to be applied to any negotiations carried on or to be carried on by or on behalf of the City of Toronto and Toronto Atmospheric Fund
Board Decision
The Board of Directors of the Toronto Atmospheric Fund:
1. Endorsed the proposed positions as outlined in Confidential Attachment 2 to the report (October 25, 2019) from the Chief Executive Officer for negotiating the Tri-partite Funding Agreement among Toronto Atmospheric Fund, the City of Toronto and the Federation of Canadian Municipalities.
2. Directed that the confidential information contained in Confidential Attachments 1 and 2 to the report (October 25, 2019) from the Chief Executive Officer remain confidential in its entirety, as it involves the security of property belonging to the City of Toronto and Toronto Atmospheric Fund and about a plan to be applied to any negotiations carried on or to be carried on by or on behalf of the City of Toronto and Toronto Atmospheric Fund.
Decision Advice and Other Information
The Chief Executive Officer gave an overview on Tri-partite Agreement regarding the Government of Canada Endowment.
The Board of Directors of the Toronto Atmospheric Fund recessed its public meeting to meet in closed session to consider the item as it pertains to the security of property belonging to the City of Toronto and Toronto Atmospheric Fund; and a plan to be applied to any negotiations carried on or to be carried on by or on behalf of the City of Toronto and Toronto Atmospheric Fund.
Origin
Summary
This is report provides an update on and overview of the proposed negotiation of a tri-partite Funding Agreement that is underway between Toronto Atmospheric Fund (TAF), the City of Toronto and the Federation of Canadian Municipalities (FCM) governing the $40 million Federal endowment TAF will receive and administer. Approval by TAF’s Board and Council will be required for execution.
Background Information
https://www.toronto.ca/legdocs/mmis/2019/ta/bgrd/backgroundfile-139404.pdf
Confidential Attachment 1
Confidential Attachment 2
Motions
That the Board of Directors of the Toronto Atmospheric Fund:
1. Endorse the proposed positions as outlined in Confidential Attachment 2 for negotiating the Tri-partite Funding Agreement among TAF, the City of Toronto and the Federation of Canadian Municipalities.
2. Direct that Confidential Attachment 2 remain confidential as it pertains to the security of property belonging to the City of Toronto and Toronto Atmospheric Fund; and a plan to be applied to any negotiations carried on or to be carried on by or on behalf of the City of Toronto and Toronto Atmospheric Fund.