Item - 2021.TA10.9

Tracking Status

This item was considered by the Board of Directors of the Toronto Atmospheric Fund on February 5, 2021. The Committee received the item for information only. No further action will be taken on this item.

TA10.9 - Source of Toronto Atmospheric Fund Financing an Energy Savings Performance Agreement (ESPA) Transaction

Decision Type:: Information

Status:: Received

Board Decision

The Board of Directors of the Toronto Atmospheric Fund received the item for information.

Origin

(January 22, 2021) Report from the Director of Finance

Summary

The Investment Committee received advice from staff that it would be appropriate to use funds from the Canada endowment to finance a retrofit which has already been initiated with funds from the Toronto and Ontario endowments. Although the Canada endowment was received subsequent to these allocations, and the direction is not to use new funds for completed direct investments, the financing for this project has not been fully advanced. The purpose of this report is to advise the Board regarding the use of funds in this specific case.

Background Information

(January 22, 2021) Report from the Director of Finance on Source of Toronto Atmospheric Fund Financing an ESPA Transaction
https://www.toronto.ca/legdocs/mmis/2021/ta/bgrd/backgroundfile-162841.pdf

Motions

Motion to Receive Item moved by Jacoline Loewen (Carried)

That the item be received for information.