Item - 2021.TA14.9
Tracking Status
- This item was considered by Board of Directors of the Toronto Atmospheric Fund on November 5, 2021 and was adopted without amendment.
TA14.9 - Rescission of Decision Respecting Item TA4.11 - Direct Investment
- Decision Type:
- ACTION
- Status:
- Adopted
Board Decision
The Board of Directors of the Toronto Atmospheric Fund:
1. Rescinded the November 8, 2019 decision 3 on item TA4.11 respecting a Direct Investment of up to $2,000,000.
Decision Advice and Other Information
The Board of Directors of the Toronto Atmospheric Fund recessed its public meeting to meet in closed session to consider the item as it pertains to commercial and financial information, 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.
Origin
(October 22, 2021) Report from the Vice President, Impact Investing, Toronto Atmospheric Fund
Summary
Rescission of a previously approved Direct Investment of up to $2 million as the project, which experienced delays, now has a new investor.
Background Information
(October 22, 2021)
Report from the Vice President, Impact Investing, Toronto Atmospheric Fund on Rescission of Decision Respecting Item TA4.11 - Direct Investment
https://www.toronto.ca/legdocs/mmis/2021/ta/bgrd/backgroundfile-172390.pdf
https://www.toronto.ca/legdocs/mmis/2021/ta/bgrd/backgroundfile-172390.pdf
Motions
Motion
to Adopt Item
moved by
Kimberly Marshall
(Carried)