Item - 2022.ZB21.6

The Board of Management of the Toronto Zoo:

1. Authorized the Chief Executive Officer, Toronto Zoo to enter into a Financing Agreement with the City of Toronto for the Environment and Energy's Better Buildings Partnership Energy Retrofit Loan for the Zoo's Energy Retrofit Project.

The Toronto Zoo has applied for a Better Buildings Partnership Energy Retrofit Loan from the City of Toronto to cover the cost of the Energy Retrofit Project and access the lower interest rate offered by the Loan Program (2.96 percent) compared to the financing terms offered by Ecosystem Energy Services (6.25 percent). The Energy Retrofit Loan will provide the upfront capital cost of the project and allow for a long-term payment plan to be repaid through the annual savings in utility and maintenance costs from environmental conservation measures implemented in the project. The Toronto Zoo seeks approval from the board to enter into a financing agreement with the City of Toronto's Environment and Energy Better Buildings Partnership for the Energy Retrofit Project.