Item - 2024.MM20.4
Tracking Status
- City Council adopted this item on July 24 and 25, 2024 without amendments.
MM20.4 - Authorization to Release Section 37 Funds from the Development at 1 Bloor Street West to St. Clare’s MultiFaith Housing for the Construction and Fit Out of a New Theatre and Rehearsal Space at 877 Yonge Street - by Councillor Dianne Saxe, seconded by Councillor Josh Matlow
- Decision Type:
- ACTION
- Status:
- Adopted
- Ward:
- 11 - University - Rosedale
City Council Decision
City Council on July 24 and 25, 2024, adopted the following:
1. City Council increase the 2024 Operating Budget for Non-Program on a one-time basis by $600,000 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 secured for capital improvements for new or existing cultural and/or community space, to be utilized for the construction and fit out of a theatre, office and rehearsal space at City-owned 877 Yonge Street.
2. City Council direct that the $600,000 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, on the same terms as for the original $1.25 million.
Background Information (City Council)
https://www.toronto.ca/legdocs/mmis/2024/mm/bgrd/backgroundfile-247775.pdf
(July 24, 2024) Fiscal Impact Statement from the Chief Financial Officer and Treasurer
https://www.toronto.ca/legdocs/mmis/2024/mm/bgrd/backgroundfile-247912.pdf
Motions (City Council)
Speaker Nunziata advised Council that the provisions of Chapter 27, Council Procedures, require that Motion MM20.4 be referred to the Executive Committee. A two-thirds vote of the Council Members present is required to waive referral.