Item - 2020.PA16.5

The Board of Directors of Toronto Parking Authority:

1.  Authorized the President, Toronto Parking Authority, to negotiate, enter into, and execute, on behalf of Toronto Parking Authority, a parking management agreement with CreateTO, on behalf of the City of Toronto Economic Development Corporation/Toronto Port Lands Company, with respect to the 123-space surface parking lot located at 115 Unwin Avenue, known as Municipal Car Park 243, in accordance with the terms and conditions as generally outlined in Appendix A to the report (July 10, 2020) from the Acting President, Toronto Parking Authority, and on 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.

This report seeks Toronto Parking Authority (TPA) Board of Directors approval to enter into a one (1) year term parking management agreement (the Agreement) to provide parking management services for a 123-space surface parking lot located at 115 Unwin Avenue (the Property), known as Municipal Car Park 243, with CreateTO (on behalf of the City of Toronto Economic Development Corporation (TEDCO) operating as Toronto Port Lands Company (TPLC)) (the Owner). 

The Agreement will continue TPA's management of Car Park 243, which originally started in 2010, and has previously been continued through a series of one- and two-year term agreements. While the overall financial value of the agreements has been low, TPA's provision of parking management services represents an important community benefit in the Port Lands. The proposed Agreement with the Owner will be in accordance with the terms and conditions outlined in this report and Appendix A.