Item - 2020.RA19.11

The Board of Directors of CreateTO:

1. Adopted the confidential instructions to staff in Confidential Attachment 1 to the report (December 1, 2020) from the Vice President, Stakeholder and Client Relationship Management, CreateTO, as amended in closed session.

2. Adopted the confidential instructions to staff in Confidential Attachment 1 to the report (December 1, 2020) from the Vice President, Stakeholder and Client Relationship Management, CreateTO.

3. Endorsed the business and redevelopment plan for 229 Richmond Street West, outlined in Appendices 3 and 5 of the Confidential Attachment to the report (December 1, 2020) from the Vice President, Stakeholder and Client Relationship Management, CreateTO.

4. Directed the Interim Chief Executive Officer, CreateTO to direct funds from available CreateTO budget allocations to procure such outside services as may be necessary to support the confidential instructions to staff, with a view to requesting overall project funding in a subsequent report to City Council.

5. Authorized the public release of the confidential information contained in Confidential Attachment 1 to the report (December 1, 2020) from the Vice President, Stakeholder and Client Relationship Management, CreateTO upon completion of any negotiations, and at the discretion of the Chief Executive Officer.

The Board of Directors of CreateTO recessed its public session to meet in closed session to consider the item as it pertains to the proposed disposition of land by the City of Toronto.

The purpose of this report is to provide the Board of Directors of CreateTO (the "Board") with a confidential update regarding the business plan for the City-owned property at 260 Adelaide Street West (“260 Adelaide”).