Item - 2021.PA25.7

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 Cityscape Holdings Inc., and Dream Distillery District Commercial (GP) Inc., with respect to a 241-space surface parking lot located at 31 Parliament Street, known as Car Park 230 and a 127-space below grade garage located at 70 Distillery Lane known as Car Park 267, in accordance with the terms and conditions as generally outlined in Confidential Attachment 1 to the report (July 2, 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 (July 2, 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.

The Board of Directors of Toronto Parking Authority recessed its public meeting to meet in closed session to consider this item as it pertains to a position to be applied to negotiations being carried out by the Toronto Parking Authority.

This report seeks Toronto Parking Authority Board of Directors approval for Toronto Parking Authority to provide parking management services to Cityscape Holdings Inc. and Dream Distillery District Commercial (GP) Inc. (Owner) at a 241-space surface parking lot located at 31 Parliament Street, known as Car Park 230 and a 127-space below grade garage located at 70 Distillery Lane known as Car Park 267 (refer to Appendix A - Site Location Map). Should the recommendations of this report be adopted by Toronto Parking Authority Board of Directors, the Agreement will extend Toronto Parking Authority's management of Car Park 230 and Car Park 267 for a five (5) year term. The proposed Agreement with the Owner will be in accordance with the terms and conditions outlined in Confidential Attachment 1.