Item - 2022.EX33.3

The Executive Committee recommends that: 

1. City Council approve the allocation of $100,000 from the Toronto Significant Events Investment Program to Just for Laughs 2022, pending the execution of a funding agreement between Economic Development and Culture and Just For Laughs Toronto, an incorporated not-for-profit art cultural organization, that outlines all terms and conditions for the use of said funds. 

The City of Toronto's Toronto Significant Events Investment Program (TSEIP), administered by the Economic Development and Culture (EDC) Division, supports major events that have the ability to make a significant contribution to the economic and cultural vitality of the city. Just for Laughs Toronto (JFLTO) submitted an application to TSEIP, which has been reviewed by EDC staff, followed by a Peer Review Panel evaluation. The application has been determined eligible per the TSEIP program criteria, being recommended for funding in the amount of $100,000 for costs related to organizing Just for Laughs' inaugural street festival in Toronto in 2022. The anticipated benefits and funding accountability measures are outlined in this report.

This report is being submitted to the Executive Committee as the approval of the allocation is required before July in order for the Festival to proceed.