Item - 2026.MM42.50

City Council on June 24 and 25, 2026, adopted the following:

1. City Council direct the Chief Financial Officer and Treasurer to consider, and perform all necessary financial due diligence for a Capital Loan Guarantee for Théâtre français de Toronto, which may be provided to Théâtre français de Toronto’s lender on an exceptional basis, in support of Théâtre français de Toronto’s acquisition of a theatre property with the property at development at 1095-1111 Danforth Avenue, in an amount not to  exceed $3 million, inclusive of any accrued interest and potential enforcement costs, contingent on:

a. Théâtre français de Toronto demonstrating to the satisfaction of the City Chief Financial Officer and Treasurer, by September 30, 2026, that it has secured financing from a third-party lender for the full purchase price of the property;

b. Théâtre français de Toronto providing the City staff with all materials as the City Chief Financial Officer and Treasurer may request, as are consistent with the requirements of the City Loan Guarantee Policy; and 

c. the City's Capital Loan Guarantee being secured against the property being purchased and ahead of all creditors.

2. City Council delegate authority to the Chief Financial Officer and Treasury to extend the date to secure financing by Théâtre français de Toronto for the full purchase price should it be determined that an extension is necessary and justified.

3.  City Council authorize the Chief Financial Officer and Treasurer, in consultation with the City Solicitor, to negotiate and enter into all related agreements for the Capital Loan Guarantee, on such terms and conditions as are acceptable to the Chief Financial Officer and Treasurer, and in a form satisfactory to the City Solicitor.