Item - 2020.RZ5.4

The TO Live Audit Committee recommends that the Board of Directors of TO Live:  

1.  Approve the 2020 State of Good Repair capital projects listed in Confidential Attachment 1 to the report (January 31, 2020) from the President and Chief Executive Officer, TO Live and all related purchase orders and/or tender awards over $100,000 up to each individual project budget or adjusted budget (if necessary), not to exceed the available 2020 State of Good Repair funding, pending approval of the 2020 TO Live Capital Budget at the February 19, 2020 City of Toronto Council meeting. 

2.  Approve the Facility Fee Reserve Fund projects and purchases listed as Facility Fee Reserve Fund funded projects and all related purchase orders and/or tender awards over $100,000 up to each individual budget or adjusted budget (if necessary), not to exceed the available Facility Fee Reserve Fund funding, as outlined in Confidential Attachment 2 to the report (January 31, 2020) from the President and Chief Executive Officer, TO Live, pending approval of the 2020 TO Live Operating Budget at the February 19, 2020 City of Toronto Council meeting. 

3. Direct that Confidential Attachments 1 and 2 to the report (January 31, 2020) from the President and Chief Executive Officer, TO Live remain confidential in their entirety because if disclosed, could reasonably be expected to prejudice significantly the competitive position or interfere significantly with the contractual or other negotiations of a person, group of persons, or organization.

The TO Live - Audit Committee recessed its public meeting to meet in closed session to consider the item as it contains financial information supplied in confidence to the Board of Directors of TO Live, which, if disclosed, could reasonably be expected to prejudice significantly the competitive position or interfere significantly with the contractual or other negotiations of a person, group of persons, or organization.

The purpose of this report is to seek Board spending approval for 2020 State of Good Repair and Facility Fee Reserve Fund projects.