Item - 2020.PA20.5

The Board of Directors of Toronto Parking Authority:

1.  Authorized the President, Toronto Parking Authority to negotiate, enter into and execute a

parking management agreement with Menkes Developments Inc. related to the operation of a 22-space commercial parking facility located within 60 Shuter Street in accordance with the terms and conditions as outlined in Confidential Attachment 1 to the report (November 26, 2020) from the Acting President, Toronto Parking Authority and any such other or amended terms and conditions as may be acceptable to the President and in a form satisfactory to the City Solicitor.

2.  Directed that Confidential Attachment 1 to the report (November 26, 2020) from the Acting President, Toronto Parking Authority remain confidential in its entirety, as it relates to a position to be applied to negotiations being carried out by Toronto Parking Authority.

Toronto Parking Authority operates an extensive inventory of over 307 off-street parking facilities containing over 40,000 spaces. A significant number of these locations are managed and operated by Toronto Parking Authority on behalf of private property owners through parking management agreements.

In an effort to expand its offering of public parking in parking deficient areas of the City, Toronto Parking Authority has approached a number of landowners and developers to provide an overview of the range of parking management services that it provides to third-party landowners. Through these discussions, an opportunity has been identified to provide parking management services at a new mixed-use building being developed by Menkes 189 Church Street Inc. (Menkes) at 60 Shuter Street (the Subject Property).

The purpose of this report is to seek authority from Toronto Parking Authority's Board of Directors for Toronto Parking Authority's President, to negotiate, enter into, and execute a parking management agreement with Menkes related to a 22-space below grade parking facility located at the Subject Property.