Item - 2023.MM7.33
Tracking Status
- City Council adopted this item on June 14, 2023 without amendments.
MM7.33 - Authorization to Release Section 37 Funds from the Development at 1 Bloor Street West to St. Clare’s MultiFaith Housing for the construction of a new theatre and rehearsal space at 877 Yonge Street
- Decision Type:
- ACTION
- Status:
- Adopted
- Ward:
- 11 - University - Rosedale
City Council Decision
City Council on June 14 and 15, 2023, adopted the following:
1. City Council increase the 2023 Operating Budget for Non-Program on a one-time basis by $1,250,000 gross, $0 net, fully funded by Section 37 community benefits obtained from the development at 1-11 Bloor Street West, 768-784 Yonge Street, and 760-762 Yonge Street (Source Account: XR3026-3701060) secured for capital improvements for new or existing cultural and/or community space, to be utilized for the construction of a theatre, office and rehearsal space at City-owned 877 Yonge Street (Cost Centre: NP2161).
2. City Council direct that the $1,250,000 be forwarded to St. Clare’s Multifaith Housing Society for construction of a theatre, office and rehearsal space at 877 Yonge Street, upon the signing of an Undertaking by St. Clare’s Multifaith Housing Society to govern the use of the funds and the financial reporting requirements.
Background Information (City Council)
https://www.toronto.ca/legdocs/mmis/2023/mm/bgrd/backgroundfile-237449.pdf
Fiscal Impact Statement from the Chief Financial Officer and Treasurer
https://www.toronto.ca/legdocs/mmis/2023/mm/bgrd/backgroundfile-237480.pdf
Motions (City Council)
That Councillor Dianne Saxe be permitted to add to the agenda of today's meeting an urgent Motion without Notice concerning:
Authorization to Release Section 37 Funds from the Development at 1 Bloor Street West to St. Clare’s MultiFaith Housing for the construction of a new theatre and rehearsal space at 877 Yonge Street.
Reason for Urgency:
This request is urgent as the release of Section 37 funds is required to ensure this project can proceed to construction in the summer of 2023, and commence use for performances in the fall of 2024.