Item - 2024.PA10.7

The Board of Directors of the Toronto Parking Authority:

1. Authorized the President, Toronto Parking Authority, to award the 2024-CS-VAR-2030.30 - Asset Management Implementation Project to WSP Canada Inc., meeting all specifications in conformance with the request for proposal requirements, in the amount of $2,881,380 inclusive of contingency but excluding HST.

This report seeks the Board's approval to award an asset management contract to develop a comprehensive Asset Management Program at the Toronto Parking Authority.

Implementing Asset Management aligns with ISO 55000 standards and aims to maximize asset value through consistent maintenance practices. Moreover, a comprehensive Asset Management Program directly reflects Toronto Parking Authority's vision to be the best provider of parking, bike share, and last-mile mobility experiences, making this proposal a natural fit for our organization.

As identified in Toronto Parking Authority's Enterprise Risk Management program, aging infrastructure, equipment, and technology pose significant risks. The Asset Management Program is crucial to managing assets effectively, modernizing equipment, and ensuring sustained operational quality. Compliance with Ontario Regulation 588/17 mandates municipalities and their division and agencies establish an Asset Management Program by July 1, 2025, requiring an Asset Management Plan submission.

In 2023, Toronto Parking Authority contracted CIMA+ to review and assess our initial Asset Management position. CIMA+ determined that Toronto Parking Authority's maturity level was at 1 - 'Aware'- significantly below the regulated expectation of level 3 - 'Competent.' Based on these findings, CIMA+ presented Toronto Parking Authority with a structured implementation roadmap divided into distinct phases: establishing frameworks, conducting training, pilot implementation, software integration, and continuous improvement efforts (see Appendix A - Asset Management Briefing July 19, 2024).

With the CIMA+ report, the Toronto Parking Authority issued a request for proposal contract for the development of a Toronto Parking Authority-wide Asset Management Program. The selection process for the contract involved a comprehensive evaluation of bids, technical proposals, pricing, project history, and reference checks, resulting in the recommendation to award the contract to WSP Canada Inc. for a total sum of $2,881,380.