Item - 2021.PA25.3

The Board of Directors of Toronto Parking Authority:

1.  Referred the item to the President, Toronto Parking Authority, for further consideration and report back to the September 29, 2021, meeting of the Board of Directors of Toronto Parking Authority.

Toronto Parking Authority Policy Resolution 5-10: Delegation of Authority (see Appendix A) sets out the authorities delegated by Toronto Parking Authority Board of Directors to Toronto Parking Authority to make financial commitments and execute documents. Toronto Parking Authority is proposing to amend the policy to update the cost thresholds, recognize the authorities related to commercial management agreements, including parking management and parking equipment agreements, real estate activities involving lands or a portion of lands under Toronto Parking Authority's operational jurisdiction and the lack of Toronto Parking Authority's authority to acquire lands or an interest in lands. Further amendments are proposed to clarify the authority to amend or extend contracts and to both initiate and resolve legal action.

The proposed amendments will provide Toronto Parking Authority with increased operational flexibility, improve Toronto Parking Authority's competitive position in the marketplace, ensure alignment with the authorities provided to Toronto Parking Authority under Chapter 179 of the Municipal Code and minimize the potential for misinterpretation.

Consequential amendments to Policy 5-13 - Purchase Cards (National Bank Mastercard) are needed to ensure alignment with the proposed changes to Policy 5-10.