Item - 2025.PA14.14

The Board of Directors, Toronto Parking Authority:  

1. Approved the amended 2025 Corporate Goals and performance targets as outlined in Attachment 1 to the report (April 29, 2025) from the President, Toronto Parking Authority.

2. Directed the President, Toronto Parking Authority, to implement the amended 2025 Corporate Goals and performance targets for the Short-Term Incentive Plan as outlined in Attachment 1 to the report (April 29, 2025) from the President, Toronto Parking Authority.

At its meeting of March 2025, Toronto Parking Authority (TPA) Board of Directors received a report from Management that included recommendations for the 2025 Corporate Goals and performance targets to be utilized in Toronto Parking Authority's 2025 Short-Term Incentive Program (STIP). The Item was adopted with an amendment that deferred consideration of EV charging (Goal 5.2) as a performance measure for 2025 to the May 15, 2025 meeting of the Board. The intent of the amendment was to provide Management time to carry out further engagement with the Environment, Climate and Forestry Division about how the proposed corporate goal fit within the City's Approach to Electric Vehicle charging through 2030.

Management has completed this review and is recommending that Corporate Goal 5.2 (Secure external strategic partnership to scale our City-wide EV charging strategy) be replaced with a three (3) year growth strategy for Green P parking. An updated summary of the Corporate Goals and performance targets is included in Attachment 1 to this report.

At its meeting on March 4, 2025, the Board of Directors of the Toronto Parking Authority considered Item PA13.7 and, in so doing, has:

1. Approved the 2025 Corporate Goals and performance targets as indicated in the report (February 14, 2025) from the President, Toronto Parking Authority, as amended by Part 3 below.

2. Directed the President, Toronto Parking Authority, to implement the 2025 Corporate Goals and performance targets for the Short-Term Incentive Plan as indicated in the report (February 14, 2025) from the President, Toronto Parking Authority, as amended by Part 3 below.

3. Deferred the consideration of EV charging (Goal 5.2) as a performance measure for 2025 to the May 15, 2025 meeting of the Board of Directors of the Toronto Parking Authority.

Summary from the report (February 14, 2025) from the President, Toronto Parking Authority:

The purpose of this report is to provide a recommendation for the 2025 Corporate Goals and performance targets to be utilized in the Toronto Parking Authority's 2025 Short-Term Incentive Program (STIP).

Toronto Parking Authority (TPA) continues its journey towards becoming the world's premiere provider of sustainable parking, bike share and last-mile mobility experiences. The organization is focused on creating a performance-based culture that consistently delivers sustainable results for its customers, staff and city stakeholders.

This report provides a recommendation for the 2025 Corporate Goals, including specifics of the performance targets to be incorporated into the Short-Term Incentive Program for 2025.