Item - 2022.PA31.3

The Board of Directors, Toronto Parking Authority:  

1.  Adopted the recommendations and instructions to staff contained in Confidential Attachment 1 to the report (July 11, 2022) from the President, Toronto Parking Authority.

2.  Directed that Confidential Attachment 1 to the report (July 11, 2022) from the President, Toronto Parking Authority, remain confidential in its entirety, as it deals with personal matters about identifiable persons.

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 personal matters about identifiable persons.

Toronto Parking Authority is on an accelerated journey towards excellence, with the vision of becoming the world's best provider of sustainable parking, bike share and last mile mobility experiences for our customers, partners and our city. Toronto Parking Authority's talent gaps, exacerbated by uncompetitive compensation, remains a barrier in attracting and retaining top leadership talent to support our change agenda. In order to address this issue, a compensation benchmarking review for Vice-Presidents and Directors was conducted by a third party and received by the Board of Directors at its meeting on May 27, 2022. The matter was referred to the next meeting of the Board.

This report recommends revisions to the compensation plan for Vice-Presidents and Directors.