Item - 2021.PA22.6

The Board of Directors of Toronto Parking Authority:  

1.  Authorized the President, Toronto Parking Authority, to negotiate, enter into and execute on behalf of Toronto Parking Authority, a parking management agreement with CreateTO (on behalf of the City of Toronto Economic Development Corporation/Toronto Port Lands Company) with respect to the 123-space surface parking lot located at 115 Unwin Avenue, known as Car Park 243, in accordance with the terms and conditions as generally outlined in Confidential Attachment 1 to the report (March 12, 2021) from the President, Toronto Parking Authority and on such other terms and conditions or amended terms and conditions as may be acceptable to the President, Toronto Parking Authority, and in a form satisfactory to the City Solicitor.
 

2.  Directed that Confidential Attachment 1 to the report (March 12, 2021) from the 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.

This report seeks Toronto Parking Authority Board of Directors approval to enter into a one-year term parking management agreement (the Agreement) to provide parking management services for a 123-space surface parking lot located at 115 Unwin Avenue (the Property), known as Car Park 243, with CreateTO (on behalf of the City of Toronto Economic Development Corporation, operating as Toronto Port Lands Company (the Owner). 

The Agreement will continue Toronto Parking Authority's management of Car Park 243, which originally started in 2010, and has previously been continued through a series of one and two-year term agreements. While the overall financial value of the agreements has been low, Toronto Parking Authority's provision of parking management services represents an important community benefit in the Port Lands. The proposed Agreement with the Owner will be in accordance with the terms and conditions outlined in Confidential Attachment 1.