Item - 2020.PA13.6

The Board of Directors of Toronto Parking Authority:

1.  Authorized the President, Toronto Parking Authority, to negotiate and execute a parking management agreement with Rosemount Properties Inc. to operate a 34-space surface parking facility located at 4 Rosemount Avenue (Car Park 675), under the terms and conditions in Attachment 2 to the report (January 21, 2020) from the Acting President, Toronto Parking Authority, and any such other or amended terms and conditions as may be acceptable to the President, Toronto Parking Authority, and in a form satisfactory to the City Solicitor.

Toronto Parking Authority (TPA) has entered into a parking management agreement, in accordance with previous decisions of the Board of Directors of TPA, concerning 4 Rosemount Avenue (Property, see Attachment 1). The parking management agreement, which has been approved by the Board of Directors of TPA, has a one-year term that expires as of February 25, 2020.

This report seeks the approval of TPA Board of Directors to enter into another parking management agreement with Rosemount Properties Inc. (Owner) for a one-year term to operate an existing 34-space surface parking facility, referred to as Car Park 675, located at 4 Rosemount Avenue, in accordance with the terms and conditions outlined in Attachment 2.