Item - 2022.PA30.12

The Board of Directors of Toronto Parking Authority:

1. Requested Corporate Real Estate Management to negotiate, enter into and execute on behalf of Toronto Parking Authority, a licence of land agreement with Ontario Infrastructure and Lands Corporation with respect to the 15-space surface parking lot located at 20 Prescott Avenue, known as Car Park 133, in accordance with the terms and conditions as generally outlined in Confidential Attachment 1 to the report (May 11, 2022) and on such other terms and conditions or amended terms and conditions as may be acceptable to the President, Toronto Parking Authority, and in a form satisfactory to the City Solicitor.

2. Requested Corporate Real Estate Management to negotiate, enter into and execute on behalf of Toronto Parking Authority, a licence of land agreement extension with Ontario Infrastructure and Lands Corporation with respect to the 25-space surface parking lot located at 1940 Lawrence Avenue East, known as Car Park 709, in accordance with the terms and conditions as generally outlined in Confidential Attachment 2 to the report (May 11, 2022) and on such other terms and conditions or amended terms and conditions as may be acceptable to the President, Toronto Parking Authority, and in a form satisfactory to the City Solicitor.

3. Directed that Confidential Attachments 1 and 2 to the report (May 11, 2022) from the President, Toronto Parking Authority, remain confidential in their entirety, as the attachments relate to a position to be applied to negotiations being carried out by Toronto Parking Authority.

The Board of Directors of Toronto Parking Authority recessed its public meeting to meet in closed session to consider this item as it pertains to a position to be applied to negotiations being carried out by Toronto Parking Authority.

This report recommends that Toronto Parking Authority Board of Directors request Corporate Real Estate Management to negotiate and enter into a licence of land agreement for 20 Prescott Avenue (Car Park 133) and extend the licence of land agreement for 1940 Lawrence Avenue East (Car Park 709) (licence of land agreements for both sites are collectively referred to as Agreements), with Ontario Infrastructure and Lands Corporation (Owner) as managed and administered through Hydro One Networks Inc. to continue the operation of these two car parks (refer to Appendix A for site location maps).

Should the recommendations of this report be adopted by Toronto Parking Authority Board of Directors, and following Corporate Real Estate Management’s execution, the Agreements will extend Toronto Parking Authority’s operation at both Car Parks 133 and 709. The proposed Agreements with the Owner will be in accordance with the terms and conditions outlined in Confidential Attachment 1 and Confidential Attachment 2.