Item - 2020.MM16.6

City Council on February 26, 2020, adopted the following:

1.  City Council authorize the City to enter into a lease agreement with a term of five years, and with two options to renew of one year each, for certain premises situated at 1 Eglinton Avenue East on terms and conditions as may be acceptable to the Deputy City Manager, Corporate Services or designate and in a form satisfactory to the City Solicitor.
 

2.  City Council authorize the City to enter into a new Community Space Tenancy sublease with Senior Peoples' Resources in North Toronto Incorporated, based on substantially the same terms and conditions as their current Community Space Tenancy lease at 140 Merton Street or amended terms and conditions as may be acceptable to the Deputy City Manager, Corporate Services or designate, and in a form satisfactory to the City Solicitor, to facilitate the temporary relocation of Senior Peoples' Resources in North Toronto Incorporated's operations at 140 Merton Street to 1 Eglinton Avenue East as part of the redevelopment of the City-owned property at 140 Merton Street, consistent with Council's previous decision on Item EX1.1 "Implementing the Housing Now Initiative."
 

3.  City Council direct the Executive Director, Corporate Real Estate Management and the Executive Director, Housing Secretariat to ensure that any additional costs incurred as a result of this relocation of Senior Peoples' Resources in North Toronto Incorporated are not to be allocated back to Senior Peoples' Resources in North Toronto Incorporated and should be funded through  the "Housing Now" initiative initial allocation of $20,000,000 from the City Building Reserve Fund (XR1730) to the Capital Revolving Reserve Fund for Affordable Housing (XR1058) overseen and used by the Executive Director, Housing Secretariat to fund pre-development work for the first 11 sites.

 
4.  City Council authorize the Deputy City Manager, Corporate Services and the Executive Director, Corporate Real Estate Management to execute such documents required to complete the relevant lease agreements.
 

5.  City Council direct the Chief Financial Officer and Treasurer, in consultation with the Executive Director, Corporate Real Estate Management, to report back on the designation of the subject leased premises at 1 Eglinton Avenue East as a municipal capital facility.