Item - 2024.EC12.3

The Economic and Community Development Committee recommends that:

1. City Council delegate authority to the General Manager, Economic Development and Culture, to allocate directed grants in a manner consistent with criteria defined in the report, to eligible third party non-profit organizations, educational institutions, registered charities or any other such eligible organizations for up to a value of $500,000 each out of its annual Operating Budget, and to negotiate, enter into and execute any funding agreements, including any amendment, renewal or extension agreements, on such content, terms and conditions deemed necessary by the General Manager, Economic Development and Culture and in a form satisfactory to the City Solicitor.

2. City Council delegate authority to the General Manager, Economic Development and Culture, to negotiate, enter into and execute any agreements, including any amendment, renewal or extension, of event sponsorships to eligible third parties including businesses, festivals, non-profit corporations, registered charities and educational institutions for up to a value of $500,000 each, subject to the Economic Development and Culture's annual Operating Budget and on such content, terms and conditions deemed necessary by the General Manager, Economic Development and Culture and in a form satisfactory to the City Solicitor. 

The City of Toronto invests in the vibrancy and diversity of the arts and culture sector and the business community through various Economic Development and Culture (EDC) division's program grants, directed grants and event sponsorships. These investments are guided by the City of Toronto's key strategic goal of investing in people and neighbourhoods and EDC's divisional strategic goals to promote Toronto's cultural vibrancy by enhancing supports for arts and culture and to increase Toronto's global competitiveness by supporting businesses, entrepreneurship and sector development.  

In accordance with the City's Community Grants Policy and in alignment with City Council direction, this report provides information of EDC's funding allocations in 2022 and 2023, including program grants, directed grants and event sponsorships funding. This report also recommends that the General Manager of Economic Development and Culture continue to be authorized to make targeted investments in the form of directed grants and event sponsorships to respond to emerging needs of the community and to advance activities aligned with the City of Toronto strategic goals.

As part of EDC's efforts to continuously improve transparency and accountability of its grants in alignment with EDC's grant reform initiatives, this report will be brought forth on an annual basis, providing an overview of EDC's annual grant allocations.