Item - 2021.GL27.14

The General Government and Licensing Committee recommends that:

1. City Council pass a by-law pursuant to section 252 of the City of Toronto Act, 2006, providing authority to:

a. enter into a municipal capital facility agreement with Slate Toronto Core Office Incorporated, which leases approximately 2,070 square feet plus one parking spot at 154 University Avenue to the Toronto Transit Commission, all space (the "Leased Premises") related to the provision of telecommunications, transit and transportation systems and ancillary parking; and

b. exempt the Leased Premises from taxation for municipal and school purposes, with the tax exemption being effective from the latest of:

i. the commencement date of the Lease; 

ii. the date the municipal capital facility agreement is entered into; and

iii. the date the tax exemption by-law is enacted.

2. City Council direct the City Clerk to give written notice of the by-law to the Minister of Finance, the Municipal Property Assessment Corporation, the Toronto District School Board, the Toronto Catholic District School Board, the Conseil Scolaire Viamonde, and the Conseil Scolaire Catholique MonAvenir.

This report seeks Council's authority for the adoption of the necessary by-law to designate a portion of a property leased and occupied by the Toronto Transit Commission as a municipal capital facility and to provide an exemption for municipal taxes and education taxes. The municipal capital facility agreement authorized by the by-law will provide an exemption for approximately 2,070 square feet of space plus one parking spot.