Item - 2026.EX29.3

The General Manager, Parks and Recreation and the Executive Director, Corporate Real Estate Management recommend that:

1. City Council authorize the General Manager, Parks and Recreation to accept a donation of up to $50 million and any future donations from the Weston Foundation for Queen’s Park North, and to negotiate and execute a donation agreement with the Weston Foundation to fund the final design and delivery of Queen’s Park North enhancements (the “Donation Agreement”), on terms and conditions acceptable to the General Manager, Parks and Recreation, and in a form satisfactory to the City Solicitor inclusive of key terms outlined in Appendix 5.

2. City Council authorize the General Manager, Parks and Recreation to negotiate, execute, and amend any agreements necessary to complete the revitalization and continued operations of Queen’s Park North, including a tri-party agreement with Weston Foundation and the University of Toronto to govern the maintenance, operations, and funding of the revitalized Queen’s Park North, (the "Tri-Party Agreement") for a term of approximately twenty years, commencing when Queen’s Park North re-opens or as mutually agreed by the parties, on terms and conditions acceptable to General Manager, Parks and Recreation, and in a form satisfactory to the City Solicitor.

3. City Council authorize the General Manager, Parks and Recreation, in consultation with the Chief Procurement Officer, to negotiate and enter into any necessary agreements, including non-competitive agreements, with a value exceeding $500,000, and execute any necessary purchase order amendments, with a value exceeding $500,000 or more than 10 percent of the original commitment, for which the appropriate Committee and/or City Council approval would normally be required under City of Toronto Municipal Code Chapter 71, Financial Control, and City of Toronto Municipal Code Chapter 195, Procurement, for the provision of goods and services including professional and construction services required to deliver the Queen’s Park North revitalization, provided that:

a. the procurement and/or purchase order amendment is necessary to meet the timelines associated with the donated funds;

b. the costs will be fully covered and funded by the donations provided by the Weston Foundation;

c. the non-competitive procurement processes are completed in accordance with the City of Toronto Municipal Code Chapter 195, Procurement, and associated policies and procedures; and

d. the terms and conditions of any such agreements and any amending agreements are acceptable to the General Manager, Parks and Recreation and in a form satisfactory to the City Solicitor.

4. City Council authorize the Executive Director, Corporate Real Estate Management to approve any amendments to the existing lease dated January 1, 1859, between The Governing Council of the University of Toronto, as landlord, and the City, as tenant, as amended, in respect of the lands consisting of Queen's Park North (collectively, the "QPN Lease"), as well as any sublease and licence arrangements in connection with such Queen's Park North Lease, that are necessary for the construction, operation and maintenance of the revitalized park pursuant to the Donation Agreement and the Tri-Party Agreement identified in Recommendations 1 and 2 above, all on terms and conditions acceptable to the Executive Director, Corporate Real Estate Management, in consultation with the General Manager, Parks and Recreation, and in a form satisfactory to the City Solicitor.

5. City Council authorize each of the Executive Director, Corporate Real Estate Management, and the Director, Real Estate Services, Corporate Real Estate Management, severally to execute any amendments to the Queen's Park North Lease and any agreements related to the sublease and licence arrangements identified in Recommendation 4 above, as well as any related documents on behalf of the City.

6. City Council direct the General Manager, Parks and Recreation, in consultation with the Chief Planner and Executive Director, City Planning, take steps to ensure that the cultural heritage values and attributes of Queen’s Park North are appropriately conserved, and where possible enhanced through the finalization of park revitalization plans.

This report provides an update on the planned revitalization of Queen's Park North and the associated proposed donation agreement with the Weston Foundation, in response to Council direction (2025.CC28.1).

In response to the March 2025 Council direction, City staff entered into a first phase donation agreement with the Weston Foundation and have led initial community engagement on the design and operating model for a revitalized Queen's Park North.

This report summarizes the engagement activities, feedback to date from over 2900 participants, and the vision for revitalization. Overall, a wide variety of feedback was received, and emphasis was placed on trees and ecosystems, community and cultural heritage, improved maintenance and the opportunity to improve the visitor experience.

The report outlines recommended terms for two agreements: a further donation agreement to complete detailed design and construction; and a tri-party maintenance, operations and funding agreement with the Weston Foundation and University of Toronto to collaborate on stewardship of the park post-construction. The report also seeks authority to pursue any amendments to the City's existing lease with the University of Toronto in accordance with the revitalization project as well as any sublease and/or licence arrangements in connection with such lease which may be necessary for the construction, operation and maintenance of the revitalized park.

The report presents a vision, principles and design directions that City staff have developed through the first phases of community engagement and site analysis. This vision is illustrated in a draft design concept that staff will be sharing for feedback from the public, neighbouring institutions, First Nations and other project participants in March-April 2026.

Pending adoption from City Council, the project team, in consultation with the local Councillor, will complete the next phase of community engagement, due diligence and refinement, to finalize the design concept, further informing the operating model and agreements to be negotiated with the donor and University of Toronto and enabling progress forward on detailed design, procurement and construction.

Queen's Park North is Toronto's oldest municipal park and a historically, culturally and environmentally important public space in the Downtown. The University of Toronto St. George Campus Secondary Plan seeks to enhance and maintain the picturesque character of Queen's Park and its connections with the University of Toronto, the Provincial buildings and nearby cultural institutions. The Council-adopted Parkland Strategy and Downtown Parks and Public Realm Plan emphasize the priority of improving existing parks to adapt to increased demand, climate change, aging infrastructure and other pressures. The proposed investment and agreements recommended in this report will enable enhanced stewardship, strengthen the natural character of the park and provide amenities to improve the visitor experience for generations to come.

There are no current financial implications resulting from the adoption of the recommendations contained in this report. The Weston Foundation is committed to providing up to $50 million to advance capital improvements as part of the revitalization of the park, including funding for public engagement, design services, and capital costs for park enhancements. The scope of the project is not intended to require additional City capital funding. The Weston Foundation is committed to providing an additional estimated $43 million (approximately $2.15 million annually over an initial term of 20 years) to the University of Toronto to provide enhanced maintenance, operations, and programming.

The City will act as the delivery lead of the project and will procure and oversee all construction services through Parks and Recreation's Capital Projects, Design and Delivery team. All City costs for the design and construction of the revitalized Queen’s Park North will be funded by the donation, except for any City staff overhead cost that exceed the agreed annual capital delivery recovery of $100,000, which will be absorbed within the approved Capital budget.

The City will continue to deliver core municipal services in the park, with the University taking on enhanced maintenance. The City’s aggregate operating costs associated with its maintenance and operations responsibilities will remain generally consistent with current expenditure levels for Queen’s Park North.

Any City financial implications would be addressed through future budget processes or subsequent reports to Council as needed, related to this item.

The Chief Financial Officer and Treasurer has reviewed this report and agrees with the information as presented in the Financial Impact section.