Item - 2020.MM16.3
Tracking Status
- City Council adopted this item on February 26, 2020 without amendments.
MM16.3 - Amendment to Below-Market Rent Lease Agreement with Nia Centre For the Arts Incorporated at 524 Oakwood Avenue, by Councillor Josh Matlow, seconded by Councillor Mike Colle
- Decision Type:
- ACTION
- Status:
- Adopted
- Ward:
- 12 - Toronto - St. Paul's
City Council Decision
City Council on February 26, 2020, adopted the following:
1. City Council authorize the City of Toronto to enter into a Below Market Rent Lease Amending Agreement with Nia Centre For the Arts Incorporated, pursuant to the Below Market Rent Policy, substantially on the major terms and conditions set out in Appendix A to Motion MM16.3 as provided by the Executive Director, Social Development, Finance and Administration and the Executive Director, Corporate Real Estate Management, and including such other terms as deemed appropriate by the Executive Director, Social Development, Finance and Administration, and the Executive Director, Corporate Real Estate Management, and in a form satisfactory to the City Solicitor.
2. City Council individually authorize each of the Deputy City Manager, Corporate Services, and the Executive Director, Corporate Real Estate Management, or their designate, to execute the Below Market Rent Lease Amending Agreement referenced in Part 1 above and any related documents on behalf of the City of Toronto, as required.
Background Information (City Council)
https://www.toronto.ca/legdocs/mmis/2020/mm/bgrd/backgroundfile-146297.pdf
Appendix A - Major Terms and Conditions
https://www.toronto.ca/legdocs/mmis/2020/mm/bgrd/backgroundfile-146498.pdf
Motions (City Council)
Speaker Nunziata advised Council that the provisions of Chapter 27, Council Procedures, require that Motion MM16.3 be referred to the General Government and Licensing Committee. A two-thirds vote of the Council Members present is required to waive referral.