Item - 2020.GL12.18

The General Government and Licensing Committee recommends that:

1.  City Council authorize the City of Toronto (the "City') to enter into an Offer to Lease followed by a Lease with The Canada Life Assurance Company for a ten (10) year term, substantially on the terms and conditions as set out in Appendix C to the report (February 21, 2020) from the Executive Director, Corporate Real Estate Management, and on such other or amended terms and conditions as may be acceptable to the Executive Director, Corporate Real Estate Management or their designate, and in a form acceptable to the City Solicitor.

This report seeks authority to enter into a new lease agreement with The Canada Life Assurance Company (the "Landlord") for a term of ten (10) years, for approximately 31,635 square feet of space at 5160 Yonge Street, Suite 200 (the "Leased Premises"), for use by Toronto Employment and Social Services, substantially on the terms and conditions as set out in Appendix C, with funding for the rental lease costs and the leasehold improvement costs included in the appropriate budgets as noted in the Financial Impact section. CreateTO has reviewed, and agrees that entering into the lease agreement is the most optimal approach to ensuring program delivery at this time.