Item - 2024.PA8.13

The Board of Directors of the Toronto Parking Authority:

1. Authorized the President, Toronto Parking Authority, to negotiate, enter into and execute a Parking Management Agreement with Exhibition Place with respect to the ten (10) car parks listed in Appendix B to the report (March 12, 2024) from the President, Toronto Parking Authority, in accordance with the terms and conditions as generally outlined in Confidential Attachment 1 to the report (March 12, 2024) from the President, Toronto Parking Authority and on such other terms and conditions or amended terms and conditions as may be acceptable to the President, Toronto Parking Authority, and in a form satisfactory to the City Solicitor.

2. Directed that Confidential Attachment 1 to report (March 12, 2024) from the President, Toronto Parking Authority remain confidential in its entirety, as it relates to a position, plan, procedure, criteria, or instruction to be applied to any negotiations carried on or to be carried on by or on behalf of the City or Toronto Parking Authority.

Toronto Parking Authority has been providing a range of parking management, equipment and revenue collection services to the Owner at ten (10) Exhibition Place car parks totaling 5,668 spaces, within the Exhibition Place grounds since 2016 (refer to Appendix A – Site Location Map). Management has worked with Exhibition Place to negotiate terms and conditions in principle that will extend the arrangement with Toronto Parking Authority for at least a further five (5) years through a consolidation of contracts.

Should the recommendations of this report be adopted by the Board of Directors of Toronto Parking Authority, the Parking Management Agreement will extend the services provided by Toronto Parking Authority for Exhibition Place for a term of five (5) years with the option to extend for one (1) additional term of five (5) years. The new Parking Management Agreement will also consolidate the contractual arrangements between Toronto Parking Authority and Exhibition Place, which are currently split between the surface car parks (Car Parks 851 - 858) and the parking garage beneath the Enercare Facility (Car Park 850). More importantly, this new Agreement will reinforce both parties’ desire to drive the productivity of the ten (10) car parks and provide a first-class customer experience through the introduction of new parking payment technologies.