Item - 2024.MM18.4
Tracking Status
- City Council adopted this item on May 22 and 23, 2024 without amendments.
MM18.4 - Authorization to Release Section 37 Funds from Various Developments to Support the Construction of Blackhurst Cultural Centre - by Councillor Dianne Saxe, seconded by Councillor Jamaal Myers
- Decision Type:
- ACTION
- Status:
- Adopted
- Wards:
- 10 - Spadina - Fort York, 11 - University - Rosedale
City Council Decision
City Council on May 22 and 23, 2024, adopted the following:
1. City Council increase the 2024 Operating Budget for Economic Development and Culture by $1,000,000 gross and $0 net, fully funded by Section 37 community benefits obtained from the developments at 571-596 Bloor Street West, 738-782 Bathurst Street, 26-38 Lennox Street, 581-603 and 588 -612 Markham Street and secured by By-laws 1105-2017 and 1106-2017 (Source Account XR3026-3700987), for the purpose of providing one-time funding to the Blackhurst Cultural Centre for construction-related expenses for Blackhurst Cultural Centre at 765 Bathurst Street.
2. City Council authorize the General Manager, Economic Development and Culture, to enter into and execute a funding agreement with Blackhurst Cultural Centre that governs the use of the funds, on such terms deemed necessary and appropriate by the General Manager, Economic Development and Culture, and in a form satisfactory to the City Solicitor.
Background Information (City Council)
https://www.toronto.ca/legdocs/mmis/2024/mm/bgrd/backgroundfile-245719.pdf
(May 23, 2024) Fiscal Impact Statement from the Chief Financial Officer and Treasurer
https://www.toronto.ca/legdocs/mmis/2024/mm/bgrd/backgroundfile-246054.pdf
Motions (City Council)
Speaker Nunziata advised Council that the provisions of Chapter 27, Council Procedures, require that Motion MM18.4 be referred to the Executive Committee. A two-thirds vote of the Council Members present is required to waive referral.