Item - 2021.PA25.6

The Board of Directors of Toronto Parking Authority:

1.  Requested the President, Toronto Parking Authority to forward to the Deputy City Manager, Corporate Services, the  proposed lease agreement (Agreement) with Parc Downsview Park Inc. at 40 Carl Hall Road (the Subject Property) for a term of five (5) years, with a request that the Agreement be approved through the appropriate real estate approval process and that the Deputy City Manager, Corporate Services, report to City Council to have this leasehold interest in land be designated by City Council as a municipal parking facility.

2.  Directed that Confidential Attachment 1 to the report (July 5, 2021) from the President, Toronto Parking Authority remain confidential in its entirety, as it contains information about a position to be applied to negotiations being carried out by Toronto Parking Authority.

This report seeks Toronto Parking Authority Board of Directors to authorize the President, Toronto Parking Authority to forward to the Deputy City Manager, Corporate Services, a proposed lease agreement (Agreement) with Parc Downsview Park Inc., (the Owner) at 40 Carl Hall Road (the Subject Property) for a term of five (5) years, with a request that the Agreement be approved through the appropriate real estate approval process and that the Deputy City Manager, Corporate Services, report to City Council to have this leasehold interest in land be designated by City Council as a municipal parking facility so that the Toronto Parking Authority may be able to operate a 163-space parking facility on the Subject Property.

The Subject Property is located in close proximity to the Downsview Park subway and GO Transit stations and is anticipated that the demand at the lot will largely be from displaced commuters currently relying on the use of Car Park 811 located at 50 Wilson Heights Boulevard, which is being redeveloped as part of the Housing Now initiative. The proposed operation will provide 163 spaces to help offset the loss of 885 spaces at Car Park 811.

The Subject Property requires minimal capital improvements to meet Toronto Parking Authority operational design requirements.