Item - 2026.ZB24.3

The Chief Transformation Officer, Toronto Zoo, recommends that the Board of Management of the Toronto Zoo:

1. Approve the 2027-2036 Capital Budget as shown in Attachment 1.

2. Approve an increase in total construction costs for the Red Panda Climate Controlled Viewing Project from $5.5 million to $6.5 million.

3. Authorize the Director, Capital Program and Sustainability or their designate to negotiate and execute any necessary amendments to the construction management contract for the Red Panda Climate Controlled Viewing Project as a result of the adoption of Recommendation 2, on terms acceptable to the Director, Capital Program and Sustainability and in a form satisfactory to the City Solicitor.

4. Direct the Chief Transformation Officer to submit the 2027-2036 Capital Budget, and any changes or directions by the Board, to the City Financial Planning Division as part of the 2027 Budget Process.

This report submits the 2027-2036 Capital Budget of your Toronto Zoo for approval. The Policy and Finance Committee reviewed the 2027-2036 Capital Budget on 2026-09-24 and recommended it for approval by the Board.

The 2027-2036 Capital Budget is comprised of nine (9) projects and related sub-projects. The Capital Budget will require a total gross cash flow of $250.6 million prior to consideration of outside funding sources and prior year carry forward balances. The total gross cash flow required in 2027 is $40.0 million prior to consideration of outside funding sources and prior year carry forward balances.

The Capacity to Spend model, based on historical actual spend, is utilized by the City in determining total debt levels. As such, the 2027-2036 Capital Budget for the Zoo reflects the level of spending necessary to support the development of projects in the 2022 Master Plan approved by the Board of Management in addition to projects required to support your Toronto Zoo in realizing greenhouse gas emission reduction targets under the TZNet0 plan and the City’s TransformTO Net Zero plan.