Item - 2023.GG8.15

The General Government Committee recommends that:  

1. City Council pass a by-law pursuant to Section 252 of the City of Toronto Act, 2006, providing authority to:

a. enter into a Municipal Capital Facility Agreement with Bridlewood Mall Management Inc., the landlord, which will lease approximately 19,425 square feet at 2900 Warden Avenue (the "Leased Premises") to the City of Toronto, used for public libraries; and

b. exempt the Leased Premises from taxation for municipal and school purposes, with the tax exemption being effective from the latest of:

- the commencement date of the lease;

- the date the Municipal Capital Facility Agreement is entered into; and

- the date the Tax Exemption By-law is enacted.

2. City Council direct the City Clerk to give written notice of the By-law to the Minister of Finance, the Municipal Property Assessment Corporation, the Toronto District School Board, the Toronto Catholic District School Board, le Conseil scolaire Viamonde and le Conseil scolaire catholique MonAvenir.

This report seeks City Council's authority for the adoption of the necessary by-law to designate a portion of the property owned by 2366829 Ontario Limited leased to the City of Toronto on behalf of Toronto Public Library, Bridlewood Branch as a Municipal Capital Facility, and to provide an exemption for municipal taxes and education taxes. The Municipal Capital Facility agreement authorized by the by-law will provide an exemption for Unit 230 which is approximately 19,425 square feet at 2900 Warden Avenue. 

A new Municipal Capital Facility agreement is required as the Bridlewood Branch Library will be relocating from their existing space of approximately 8,000 square feet at Bridlewood Mall into a new expanded space within the mall at 2900 Warden Avenue. The current Municipal Capital Facility agreement will expire with the existing lease on August 31, 2024.