Item - 2026.PA18.5

The Board of Directors of the Toronto Parking Authority:

1. Directed that the confidential information contained in Confidential Attachment 1 to the revised report (February 24, 2026) from the President, Toronto, Parking Authority remain confidential in its entirety, as it deals with personal matters about identifiable persons.

The Board of Directors of the Toronto Parking Authority recessed its public meeting to meet in closed session to consider the item as it pertains to information about personal matters about identifiable persons.

As Toronto Parking Authority begins its' 74th year, we celebrate the success of the generations of staff who have built North America's largest municipally owned Parking, Bike Share and EV charging operations on behalf of Torontonians. This report provides an update to the Board on the Toronto Parking Authority's people and culture journey as we embark on our winning aspiration to become Toronto's preferred choice for parking and last-mile mobility experiences.

For historical context, post the 2017 Board defenestration and departure of key executives, the Toronto Parking Authority faced four years of insufficient investments into its infrastructure, operating systems, processes, and talent which compromised its capacity to win in the marketplace. This situation was exacerbated by the devastating impact of the pandemic in 2020. Customer trips and revenues were halved, profitability collapsed, a significant number of unionized staff were laid off for up 16 months, and approximately 50 percent of non-union staff exited the organization in 2021-2022.

In 2021, the Board endorsed a new "Repair and Restore" strategy that was grounded in executing five key operating imperatives: Build a Great Place to Work; Strengthen the Core, Execute with Excellence; Accelerate Sustainable Growth; Connect with Customers; and Innovate with our City Stakeholders and Partners.

In recognition that our future success hinged on our people, our first step was to listen and learn from staff. Their insights generated alignment against three non-negotiable core values: Safety Always, Respect and Value Differences, Act with Integrity.

Concurrently, we agreed on five aspirational "Rules of the Road" behaviours that would, over time, define how we would work:  We will Win and Celebrate as a Team; We are Passionate about our Customers; We will set Targets, Keep Score and Win; We will Act with a Sense of Urgency; We will be Respectful, Courteous and Accountable. This became our road map to "Build a Great Place to Work" and was the inspiration behind our new corporate vision to be recognized as one of the world's premiere Parking, Bike Share and EV Charging Operators.

Bringing the aspirational "Build a Great Place to Work" imperative to fruition required unwavering focus in three critical areas- Talent, Engagement, and Succession Management. In particular, the organization was bereft of talent exiting 2021. Management was seized with rebuilding the team with talent that had proven track records of leading people and delivering sustainable results. In particular, we focused on critical talent gaps in areas including engineering, project management, IT, finance, operations, safety, business development, and data analytics. Concurrently, and with the express purpose of creating a customer centric, high-performance culture, we designed and launched our new "Rules of the Road" which integrated our new corporate Mission and Vision with the values and behaviours that define Brand Toronto Parking Authority. These "Rules of the Road" are now the rallying cry for the organization and the standards we aspire to every day.

This transformation has been in flight since 2022. Despite industry headwinds, Team Toronto Parking Authority has delivered outstanding financial results, grown revenues exceeding pre-pandemic levels, transformed our digital payments capabilities, modernized much of our legacy parking assets, built Canada's largest municipally owned EV operation and successfully scaled one of North America's premiere Bike Share systems. These results would not have happened without the professional, high performing staff of Team Toronto Parking Authority .