Item - 2025.RA16.6

The Board of Directors of CreateTO received the item for information.

The Board of Directors of CreateTO recessed its public session to meet in closed session to consider the item as it pertains to a proposed or pending disposition of property by the City and a plan to be applied to negotiations carried on or to be carried on by or on behalf of the Board of Directors of CreateTO and the City.

City Council on November 13 and 14, 2024, adopted Item EX18.4 and, in so doing, has authorized the Board of Directors of CreateTO to direct the Chief Executive Officer, CreateTO, in consultation with the Executive Director, Housing Secretariat and the Executive Director, Corporate Real Estate Management, to negotiate transaction agreements, including one or more ground leases, one or more municipal housing facility agreements, and such other documents as may be necessary to finalize the arrangements with the Preferred Proponent, substantially on the terms identified in Confidential Attachment 4 to the report (October 15, 2024) from the Chief Executive Officer, CreateTO and such other terms and conditions deemed appropriate by the Chief Executive Officer, CreateTO, the Executive Director, Housing Secretariat and the Executive Director, Corporate Real Estate Management.