Item - 2024.EX16.27

The Executive Committee recommends that:

1.  City Council treat that portion of the City Council meeting at which the report (June 21, 2024) from the Chief Executive Officer, CreateTO is considered as the Annual General Meeting of the Shareholder for Toronto Port Lands Company, and:

a. receive the Board-approved 2023 Audited Financial Statements for Toronto Port Lands Company from CreateTO's Chief Executive Officer, forming Attachment 1 to the report (June 21, 2024) from the Chief Executive Officer, CreateTO;

b. receive the 2023 Annual Report for Toronto Port Lands Company from CreateTO's Chief Executive Officer, forming Attachment 2 to the report (June 21, 2024) from the Chief Executive Officer, CreateTO;

c. receive the CreateTO's 2023 Highlights Report from CreateTO's Chief Executive Officer, forming Attachment 3 to the report (June 21, 2024) from the Chief Executive Officer, CreateTO; and

d. appoint KPMG LLP as the Auditor of Toronto Port Lands Company for fiscal year 2024.

Under CreateTO’s management, Toronto Port Lands Company (TPLC) continues to advance the long-term vision for a sustainable new community in the heart of Toronto. As an active port, a vital part of our city’s economy and home to Toronto’s thriving film studio district, the Port Lands houses a large cluster of industrial uses that build and maintain the broader city.

The Port Lands also represents one of the most significant urban renewal opportunities in the city today. As the largest landowner in the Port Lands, TPLC, through CreateTO, is not only active in its role as steward and property manager but is also paving the way for a new era of innovation in the Port.

The Port Lands is currently undergoing significant flood protection work that will transform this neighborhood and unlock major new city-building uses. More than 120+ acres of land continue to be leased to Waterfront Toronto to support the completion of the flood protection work. Once completed, this initiative will unleash an abundance of new opportunities from affordable housing to vibrant parks, trails, and commercial hubs. We’re committed to continuing to work with our partners and stakeholders to ensure that this distinctive downtown area enriches Toronto to the fullest extent possible.

Please refer to Attachment #3, page 6 & 7, for Port Lands 2023 Highlights.