Item - 2025.GG24.15

The General Government Committee recommends that:  

1. City Council pass a by-law pursuant to Section 252 of the City of Toronto Act, 2006, providing authority to:

a. enter into a Municipal Capital Facility Agreement with Finchurst Plaza Inc., the landlord, which will lease approximately 1,622 square feet at 4913 Bathurst Street (the "Leased Premises") to the City of Toronto, used for public libraries; and

b. exempt the Leased Premises from taxation for municipal and school purposes, with the tax exemption being effective from the latest of:

1. the commencement date of the lease;

2. the date the Municipal Capital Facility Agreement is entered into; and

3. the date the Tax Exemption By-law is enacted.

2. City Council direct the City Clerk to give written notice of the By-law to the Minister of Finance, the Municipal Property Assessment Corporation, the Toronto District School Board, the Toronto Catholic District School Board, le Conseil scolaire Viamonde and le Conseil scolaire catholique MonAvenir.

This report seeks City Council's authority for the adoption of the necessary by-law to designate a portion of the property owned by Finchurst Plaza Inc leased to the City of Toronto on behalf of Toronto Public Library, Centennial Branch as a Municipal Capital Facility and to provide an exemption for municipal taxes and education taxes. The Municipal Capital Facility agreement authorized by the by-law will provide an exemption for approximately 1,622 square feet at 4913 Bathurst Street, municipally known as 4915 Bathurst Street. 

A Municipal Capital Facility Agreement is required as the Centennial Branch Library currently located at 578 Finch Avenue West will undergo construction and the library will be temporarily relocating from their existing space to the 1,622 square feet of space located at 4913 Bathurst Street.

The savings from the designation has been accounted for and included in the 2025 Council Approved Operating Budget for the Toronto Public Library.