Item - 2024.TA8.17

The Board of Directors of the Toronto Atmospheric Fund:

1.  Approved an investment of up to $500,000 in Limited Partnership (LP) Units into the Fund, subject to the terms and conditions outlined by the Direct Investment Committee and set out in the Confidential Attachment 1 to the report (November 6, 2024) from the Vice President, Impact Investing, Toronto Atmospheric Fund.

2.  Directed the Vice President, Impact Investing to implement the investment subject to the satisfaction of the Toronto Atmospheric Fund’s solicitor.

3.  Directed that the confidential information contained in Confidential Attachment 1 to the report (November 6, 2024) from the Vice President, Impact Investing, Toronto Atmospheric Fund remain confidential in its entirety, as it contains commercial and financial information, supplied in confidence to the Toronto Atmospheric Fund, which, if disclosed, could reasonably be expected to significantly prejudice the competitive position or interfere significantly with the contractual or other negotiations of a person, group of persons, or organization.

The Direct Investment Committee (DC) recommends an investment of up to $500,000 into a sustainable property technology (PropTech) fund (referred to here as ‘the Fund’). The Fund makes direct equity investments into early-stage sustainable PropTech companies aligned with the Toronto Atmospheric Fund’s net-zero construction and retrofit focus areas.