Item - 2022.GL31.15

The General Government and Licensing Committee recommends that:

1. City Council authorize the City, as Licensor, to enter into a Licence Agreement with Toronto Standard Condominium Corporation Number 2254, also known as "Museum House", and Toronto Standard Condominium Corporation Number 2598, also known as "Exhibit Private Residences Incorporated", (collectively known as the "Licensees") for the property known municipally as 208R Bloor Street West and shown as Part 1 on Sketch Number PS-2021-025 being Attachment 2 (the "Property") to the report (May 24, 2022) from the Executive Director, Corporate Real Estate Management, substantially on the terms and conditions set out in Attachment 1 to the report (May 24, 2022) from the Executive Director, Corporate Real Estate Management and on such other or amended terms and conditions as may be deemed appropriate by the Executive Director, Corporate Real Estate Management, including any additional terms relating to adjacent site construction and access needs, and in a form acceptable to the City Solicitor.

2. City Council direct the Executive Director, Corporate Real Estate Management, to engage with adjacent landowners to review short-term construction and access needs on City-owned lands prior to entering into any longer term license agreement for the property known municipally as 208R Bloor Street West.

3. City Council authorize each of the Executive Director, Corporate Real Estate Management, and the Director, Transaction Services, Corporate Real Estate Management severally to execute the Licence Agreement, and any related documents on behalf of the City.

4. City Council authorize the City Solicitor to complete the Licence Agreement transaction on behalf of the City including the provision of the commencement date of the Licence Agreement.

5. City Council authorize the Executive Director, Corporate Real Estate Management, to administer and manage the Licence Agreement including the provision of any amendments, consents, approvals, waivers, notices, and notices of termination, provided that the Executive Director, Corporate Real Estate Management may, at any time, refer consideration of such matters to City Council for its determination and direction.

The purpose of this report is to obtain City Council authority for the City to enter into a 10-year nominal licence agreement (the "Licence Agreement") with Toronto Standard Condominium Corporation Number 2254 also known as "Museum House", and Toronto Standard Condominium Corporation Number 2598 also known as "Exhibit Private Residences Incorporated" to create landscaping on the City-owned property municipally known as 208R Bloor Street West. The Licence Agreement includes early termination rights as the Property may be required by the City to allow for the Toronto Transit Commission's Fire Ventilation Upgrade project (the “Fire Ventilation Upgrade Project”).