Item - 2020.MM16.9

Speaker Nunziata advised Council that the provisions of Chapter 27, Council Procedures, require that Motion MM16.9 be referred to the Executive Committee. A two-thirds vote of the Council Members present is required to waive referral.

That:

1.  City Council delete the Recommendation:

Recommendation to be deleted

1.  City Council request the Chief Financial Officer and Treasurer, in consultation with the General Manager, Economic Development and Culture, to report to the Executive Committee prior to the launch of the 2021 Budget on the feasibility of implementing a vacant storefront tax, including consideration of: 
 

a.  the potential for a vacant storefront tax to reduce storefront vacancies on retail main streets in the City of Toronto;

b.  policy options for a vacant storefront tax such as the length of vacancy prior to a tax being applied, a potential range of vacancy tax amounts, and the property class or classes to which a vacant storefront tax might apply to reduce the number of retail vacancies; 

c.  analysis of other jurisdictions using vacant storefront taxes to reduce main street retail vacancies;

d.  estimated staffing and/or other resource requirements needed to implement a vacant storefront tax; and

e.  estimated timelines to implement a vacant storefront tax.

and adopt instead the following new recommendation:

1. City Council request the General Manager, Economic Development and Culture to report to the Executive Committee prior to the launch of the 2021 Budget on policy options, including best practices from jurisdictions internationally, being utilized successfully to support vibrant main streets and address storefronts left vacant by land speculators.