Item - 2023.PA7.8

The Board of Directors of Toronto Parking Authority:

1. Authorized payment of a $1,500,661.93 deposit (excluding HST) for the purchase of new equipment to support the 2024 expansion of Bike Share Toronto, comprising new bicycles, new stations, docks, and ancillary elements from PBSC Urban Solutions Inc. in the amount of $4,287,604.37 (excluding HST).

The purpose of this report is to obtain authority from the Toronto Parking Authority Board of Directors to purchase the equipment needed for Toronto Parking Authority to execute year three (3) of Bike Share Toronto’s expansion plan, including payment of an advance deposit before the end of 2023, which will secure delivery of the equipment by the second quarter of 2024.

In 2024, Bike Share Toronto will add 70 solar stations, 460 electric charging docks, and 530 iconic bikes to the system. These investments will grow the current system to 870 stations, 45 electric charging stations (1,160 e-docks) and 9,500 bikes, including 7,585 iconic bikes and 1,912 e-bikes. The planned expansion is reflected in both Toronto Parking Authority’s 2024 Annual Operating Plan and Toronto Parking Authority’s proposed 2024 Operating Budget and 2024 – 2026 Capital Budget.

The total cost to purchase the new equipment is $4,287,604.37 (excluding Harmonized Sales Tax (HST)). The equipment will be purchased from PBSC Urban Solutions Inc. (PBSC), pursuant to the terms and conditions of Toronto Parking Authority’s Equipment Supply Agreement with PBSC. Under the terms of this agreement, PBSC requires a deposit of $1,500,661.53 (excluding HST) which is included in Toronto Parking Authority’s Approved 2023 – 2025 Capital Budget.