Item - 2021.RZ11.5

The TO Live - Audit Committee recommends that the Board of Directors of TO Live:

1. Approve the 2022 Plan and Budget, with a City subsidy request of $8.5 million, as outlined in Attachment 1 and Confidential Attachment 1 to the report (May 21, 2021) from the President and Chief Executive Officer, TO Live.

2.  Direct that Confidential Attachment 1 to the report (May 21, 2021) from the President and Chief Executive Officer, TO Live remain confidential in its entirety because if disclosed, could reasonably be expected to prejudice significantly the competitive position or interfere significantly with the contractual or other negotiations of a person, group of persons, or organization.

The TO Live - Audit Committee recessed its public meeting to meet in closed session to consider the item as it pertains to financial information supplied in confidence to the Board of Directors of TO Live, which, if disclosed, could reasonably be expected to prejudice significantly the competitive position or interfere significantly with the contractual or other negotiations of a person, group of persons, or organization.

The purpose of this report is to provide detailed information on the 2022 plan and budget to the Audit Committee.