Item - 2026.PA19.3

The Board of Directors of the Toronto Parking Authority:

1. Approved the 2025 Toronto Parking Authority Annual Report for distribution.

2. Forwarded the report (May 11, 2026) from the President, Toronto Parking Authority along with the 2025 Audited Financial Statements to City Council.

The purpose of this report is to receive approval from the Board to receive the Toronto Parking Authority’s 2025 annual report. A summary of key accomplishments achieved in 2025 is presented in the draft 2025 Annual Report (refer to Attachment 1).

Toronto Parking Authority (TPA) is North America's largest municipal operator of public parking and manager of Bike Share Toronto, North America’s third largest bike share program. We also own and operate Canada’s largest municipal Electric Vehicle charging network.

Trip volumes reached 32.3 million, demonstrating steady customer behavior and strong demand for the Toronto Parking Authority’s mobility services. Bike Share Toronto recorded 7.8 million rides in 2025, an increase of approximately 0.9 million trips over 2024, indicating sustained growth in active transportation and broader adoption of shared mobility. In 2025, Bike Share Toronto attracted over 44,717 members (+4,255 v 2024) and achieved ridership of 7.8 million (+0.9 million v 2024) marking a nearly 241 percent increase in ridership since 2019. In parallel, parking trips was 24.5 million, -1.1 million fewer trips mainly resulting from snow route closures and other externalities. Overall, trip volume performance in 2025 demonstrates resilience in core parking demand alongside structural growth in non‑parking mobility services.

Toronto Parking Authority’s electric vehicle (EV) charging network, which now comprises 537 chargers, places Toronto Parking Authority as the operator of the largest municipally owned Electric Vehicle charging network in Canada. This network attracted over 46,600 unique customers and generated over $893,000 in charging revenue.

Net income, excluding $14.6 million in non-cash asset transfers to City of Toronto programs within other income, was $48.4 million +$3.6 million or 8.1%, over the prior year. Revenues reached a new record of $174.8 million, +$11.5 million or 7% versus 2024, driven by growth across all business segments.

A summary of key accomplishments achieved in 2025 is presented in the draft 2025 Annual Report (refer to Attachment 1).

Through PA19.1, the 2025 Audited Financial Statements are also being submitted to the Board for approval at the May 29, 2026, Board meeting. Should the Board approve both the draft Annual Report and the Audited Financial Statements, Toronto Parking Authority will incorporate the Audited Financial Statements into the 2025 Annual Report and finalize for distribution and publishing on Toronto Parking Authority's website. In order to meet requirements under the City of Toronto Municipal Code Chapter 179, Parking Authority, it is also recommended that the Board forward both the Audited Financial Statements and Annual Report to City Council.