Item - 2021.GL21.2

The General Government and Licensing Committee recommends that:  

1. Subject to Recommendation 2 below, City Council authorize a property tax exemption effective January 1, 2020, and the cancellation of all 2020 property taxes levied for municipal and school purposes, other than local improvement rates, together with all interest, fees and penalties for the property municipally known as 504 Bloor Street West (the "Specified Property") occupied and used by the Hot Docs International Documentary Festival and Hot Docs Ted Rogers Cinema ("Hot Docs") provided that:

a. the Specified Property is occupied and used solely by Hot Docs;

b. Hot Docs is the registered owner of the Specified Property; and

c. Hot Docs is a registered charity.

2. City Council direct that these Recommendations do not come into force until Hot Docs enters into an agreement with the City, requiring that if Hot Docs sells, leases or otherwise disposes of the Specified Property, that the City may require repayment of the property taxes provided through the tax exemption as set out in this report, and that this agreement may be registered on title to the Specified Property.

This report seeks City Council's authority for an exemption and cancellation of municipal and education taxes as authorized by the enactment of private legislation (Bill Pr20) for the Hot Docs International Documentary Festival and Hot Docs Ted Rogers Cinema located at 504 Bloor Street West.

Bill Pr20: An Act Respecting Hot Docs (the "Act") received Royal Assent on December 9, 2020.  The Act allows the City of Toronto to enact by-laws to provide for a property tax exemption for 504 Bloor Street West, subject to the provisions of the bill and any conditions outlined within the bill that the City chooses to impose in providing the tax exemption.