Item - 2020.PA20.11

The Board of Directors of Toronto Parking Authority:

1.  Directed that the information contained in Confidential Attachment 1 to the report (December 11, 2020) from the Acting President, Toronto Parking Authority and the City Solicitor remain confidential in its entirety at the discretion of the City Solicitor, as it pertains to litigation involving Toronto Parking Authority and the City of Toronto and contains advice that is subject to solicitor-client privilege.

The Board of Directors, Toronto Parking Authority recessed its public session to meet in closed session to consider this item, as it pertains to litigation involving the Toronto Parking Authority and advice that is subject to solicitor-client privilege.

This is a report on the status of the legal action commenced by Toronto Parking Authority on January 17, 2019 against BSaR (Eglinton) Ltd. and BSaR (Eglinton) LP (both together referred to as "BSaR"), and BSaR's principals, Tarek Sobhi, and Tyler Hershberg. In the legal action, TPA is claiming damages in the amount of $7.0 million for breach of contract related to an option held by the Toronto Parking Authority to purchase the retail unit (“Retail Component”) of a joint venture development at 935 Eglinton Avenue West (the "Property").