Agenda

This meeting of the Board of Directors of Toronto Parking Authority will be conducted by electronic means and the proceedings of the Board of Directors of Toronto Parking Authority will be conducted publicly. 

To provide comments or make a presentation to the Board of Directors of Toronto Parking Authority:

The public may submit written comments or register to speak to the Board on any item on the agenda. Written comments may be submitted by writing to tpaboard@toronto.ca.

To speak to the Board, please register by e-mail to tpaboard@toronto.ca or by phone at 416-338-5089. Registered speakers will be provided with instructions on connecting to the meeting.

Special Assistance for Members of the Public: City staff can arrange for special assistance with some advance notice. If you need special assistance, please call 416-338-5089, TTY 416-338-0889 or e-mail tpaboard@toronto.ca.

Closed Meeting Requirements: If the Board of Directors of Toronto Parking Authority wants to meet in closed session (privately), a member of the Board must make a motion to do so and give the reason why the Board has to meet privately (City of Toronto Act, 2006).

Notice to People Writing or Making Presentations to the Board of Directors of Toronto Parking Authority: The City of Toronto Act, 2006 and the City of Toronto Municipal Code authorize the City of Toronto to collect any personal information in your communication or presentation to City Council or its Committees and Boards. The City collects this information to enable it to make informed decisions on the relevant issue(s). If you are submitting letters, faxes, e-mails, presentations or other communications to the City, you should be aware that your name and the fact that you communicated with the City will become part of the public record and will appear on the City's website. The City will also make your communication and any personal information in it - such as your postal address, telephone number or e-mail address - available to the public, unless you expressly request the City to remove it.

Many Committee, Board, and Advisory Body meetings are available on the internet for the public to view. If you speak at the meeting you may appear in the video record of the meeting.

If you want to learn more about why and how the City collects your information, write to the City Clerk's Office, City Hall, 100 Queen Street West, Toronto ON M5H 2N2 or by calling 416-338-5089.

toronto.ca/council

This agenda and any supplementary materials submitted to the City Clerk can be found online at www.toronto.ca/council. Visit the website for access to all agendas, reports, decisions and minutes of City Council and its Committees and Boards.

Declarations of Interest under the Municipal Conflict of Interest Act

Confirmation of Minutes - April 20, 2022

Speakers/Presentations - The speakers list will be posted online at 8:30 a.m., on May 27, 2022

Communications/Reports

The Toronto Parking Authority - Audit and Risk Management Committee recommends that:

1.  The Board of Directors of Toronto Parking Authority approve the Audited Financial Statements for the year ended December 31, 2021.

At its meeting on May 10, 2022, the Toronto Parking Authority - Audit and Risk Management Committee considered Item PR2.1 and made recommendations to the Board of Directors of Toronto Parking Authority.

Summary from the report (April 26, 2022) from the President, Toronto Parking Authority:

The purpose of this report is to provide the Audit and Risk Management Committee of the Board of Directors of Toronto Parking Authority and Board of Directors of Toronto Parking Authority with the audited financial statements and highlights of the 2021 financial results for the year ended December 31, 2021.

KPMG LLP has completed their audit of Toronto Parking Authority's financial statements for the year ended December 31, 2021. A draft of the financial statements along with a copy of KPMG's year-end report to the Audit and Risk Management Committee is provided in Attachments 1 and 2.  KPMG Audit Partner, Kevin Travers, will be attending the May 10, 2022 Audit and Risk Management Committee meeting to provide a summary on significant accounting and financial reporting matters dealt with during the audit process.

The Toronto Parking Authority - Audit and Risk Management Committee recommends that:

1.  The Board of Directors of Toronto Parking Authority receive the report (April 26, 2022) from the President, Toronto Parking Authority, for information.

At its meeting on May 10, 2022, the Toronto Parking Authority – Audit and Risk Management Committee considered Item PR2.2 and made recommendations to the Board of Directors of Toronto Parking Authority.

Summary from the report (April 26, 2022) from the President, Toronto Parking Authority:

Toronto Parking Authority's operating profit for the first quarter of 2022 is $1.1 million: $0.7 million better than plan. Operating revenues missed plan by $(3.1) million, however are $8.7 million higher than 2021. Bike Share operating losses for the first quarter of the year are $(1.5) million, +$0.1 million favourable versus our plan. Operating and administration expenses were lower by $3.6 million compared to budget as spending was adjusted to meet the requirements of the business.

Despite unexpected Covid-19 restrictions during the first quarter, Toronto Parking Authority's full year operating profit is forecasted to be $15.1 million or $0.7 million favourable versus plan. Performance for the remainder of the year is expected to be on plan.

As the pandemic continues to evolve. Toronto Parking Authority management has, and will continue to closely manage its discretionary costs to limit negative effects on net income. To ensure Toronto Parking Authority remains a stable source of reliable dividends, management will continue to invest in safety and maintenance. In addition, prudent investments in our key strategic mobility pillars will further ensure modern, safe and customer centric mobility solutions.

The Toronto Parking Authority - Audit and Risk Management Committee recommends that:

1. The Board of Directors of Toronto Parking Authority receive the report (April 25, 2022) from the President, Toronto Parking Authority, for information.

2.  The Board of Directors of Toronto Parking Authority direct that Confidential Attachment 1 to the report (April 25, 2022) from the President, Toronto Parking Authority, remain confidential in its entirety, as it involves the security of property belonging to the City or one of its agencies or corporations.

At its meeting on May 10, 2022, the Toronto Parking Authority – Audit and Risk Management Committee considered Item PR2.4 and made recommendations to the Board of Directors of Toronto Parking Authority.

Summary from the report (April 25, 2022) from the President, Toronto Parking Authority:

The purpose of this report is to present an update on the status of Toronto Parking Authority's action plans which mitigate the cyber security risks identified from the cyber threat risk assessment conducted in 2021, as well as those identified in the submission to the City's Chief Security Officer under the City's Cyber Security Confirmation Program.

This report contains a confidential attachment which describes the status of the mitigation and remediation plans from the 2021 cyber security risk assessment and the risks identified in Toronto Parking Authority's submission to the City's Cyber Security Confirmation Program.

Bindesh Rach, Vice President, Finance and Chief Financial Officer, provided a presentation to the Committee at its meeting of May 10, 2022.  These matters required a closed session discussion, as they relate to the security of property belonging to the City or one of its agencies or corporations.

The Toronto Parking Authority - Audit and Risk Management Committee recommends that:

1.  The Board of Directors of Toronto Parking Authority receive the report (April 26, 2022) from the President, Toronto Parking Authority, for information.

At its meeting on May 10, 2022, the Toronto Parking Authority – Audit and Risk Management Committee considered Item PR2.5 and made recommendations to the Board of Directors of Toronto Parking Authority.

Summary from the report (April 26, 2022) from the President, Toronto Parking Authority:

At its meeting of November 8, 2021, the Board of Directors, Toronto Parking Authority reviewed, approved and endorsed an update to Toronto Parking Authority Policy Resolution 5-10: Delegation of Authority, as amended by resolution. Among other things, these amendments increased the Toronto Parking Authority President's authority to make commitments on behalf of Toronto Parking Authority from an amount not exceeding $250,000 to an amount not exceeding $500,000.

At the same meeting, the Board of Directors also established an Audit and Risk Management Committee and adopted the mandate and Terms of Reference presented in Item PA27.13. Under the Roles and Responsibilities adopted by the Board, the Audit and Risk Management Committee shall review a list prepared by Management that summarizes the items where the Toronto Parking Authority President has used the increased delegation of authority to make commitments on behalf of Toronto Parking Authority.

The purpose of this report is to provide a list of the commitments made by the President using the increased delegation of authority that were made between November 9, 2021 and April 22, 2022. Further updates will be provided to the Audit and Risk Management Committee on a semi-annual basis.

The Toronto Parking Authority - Audit and Risk Management Committee recommends that:

1.  The Board of Directors of Toronto Parking Authority receive the report (April 26, 2022) from the President, Toronto Parking Authority for information.

2. The Board of Directors of Toronto Parking Authority direct that the confidential presentation from the Vice President, Business Development, Toronto Parking Authority, and the Chief Financial Officer, Toronto Parking Authority, remain confidential in its entirety, as it pertains to positions, plans, procedures, criteria or instructions to be applied to negotiations to be carried on by the Toronto Parking Authority.

At its meeting on May 10, 2022, the Toronto Parking Authority – Audit and Risk Management Committee considered Item PR2.3 and made recommendations to the Board of Directors of Toronto Parking Authority.

Summary from the report (April 26, 2022) from the President, Toronto Parking Authority:

Toronto Parking Authority is North America's largest municipal operator of public parking. Toronto Parking Authority is unique from most City Agencies in that it fully funds its operations from revenues. It also contributes significant amounts to the City's general revenues. Based on the current Net Income Sharing Agreement, Toronto Parking Authority remits to the City 85 percent of its net annual income and since 2002 has contributed more than $1.3 billion to the City of Toronto to fund other municipal services and programs, including, affordable housing, transit and parks development.

Throughout the pandemic, Toronto Parking Authority has aggressively managed its head count, operating expenses and capital spending to maintain its cash reserves. In fact, the Toronto Parking Authority delivered positive net income throughout the pandemic with over $19.7 million provided to the City of Toronto in 2021; virtually unheard of in the transportation sector. In addition, Toronto Parking Authority's Bike Share program achieved record ridership numbers in 2021 while squarely positioning itself as the trusted executional arm responsible for delivering the public network of Electric Vehicle Charging Infrastructure that will contribute to meeting the City's TransformTO policy objectives.

As the City continues to recover from the pandemic, the Toronto Parking Authority is focused on becoming the world's best provider of sustainable parking, bike share and last mile mobility experiences for our customers, our partners and our City. Achieving this vision will require that Toronto Parking Authority change its value proposition to create a seamless customer experience that delivers on choice, ease and speed through the City. Conceptually, our new go to market proposition will position Toronto Parking Authority as an integrator of mobility services across an expanded array of channels in both the B2C and B2C sectors.

Toronto Parking Authority is well positioned to capture and monetize these opportunities in 2022 and beyond; however, it requires a modernization of its mandate to reflect a changing city landscape. The risk statements included in Toronto Parking Authority's 2022 Annual Operating Plan (and 2023 - 2031 Capital Plan) identified a number of issues that could negatively impact the Toronto Parking Authority's ability to execute its strategy.

In particular, the absence of an integrated City-wide parking strategy defining our winning aspirations and establishing clarity of responsibilities and accountabilities remains a barrier to fully realizing our objectives. Secondly, the welcome expansion of the Toronto Parking Authority's scope including Bike Share and Electric Vehicle Charging has placed an incremental burden on the Toronto Parking Authority's capacity to fund the required capital infrastructure and opex associated with these initiatives. Thirdly, the planned re-purposing of 40 Toronto Parking Authority parking assets for other city-building purposes will have a negative impact on our top line performance over the mid-term.

Notwithstanding the foregoing, management remains confident these challenges are manageable and can be resolved satisfactorily within our current financial envelope. The Toronto Parking Authority business generates substantial net income each year - averaging $65 million annually pre-pandemic, which is more than sufficient to meet our long-term requirements. Fundamentally, Management's task is to engage our City partners and develop an updated revenue sharing model that not only reflects current market conditions, but more importantly, supports the ambitious growth strategy of the Toronto Parking Authority while providing the City with a sustainable source of financial dividends. The current revenue sharing model assigns an 85percent/15percent net income split with the city. This change was executed in 2017; prior to 2017 the dividend distribution was 75percent/25percent.

Toronto Parking Authority has conducted a financial analysis that assesses various revenue, operating expense and capital spending scenarios over the next five years. This analysis was presented to Toronto Parking Authority Board of Directors via an in-camera presentation in order to protect commercially sensitive information.

The City Manager recommends that:

1.  The Board of Directors of the Toronto Parking Authority receive this report for information.

The purpose of this report is to transmit the draft of the City's Relationship Framework for the Toronto Parking Authority to the Board of the Toronto Parking Authority for information and feedback, in advance of its submission to Executive Committee and Council for approval.

The Relationship Framework is City Council's governing instrument used for setting out the specific mandate, delegations of authority, legislative framework, policy directions and accountability for City Boards, and their relationship to the City of Toronto.

The Board Directors of the Toronto Parking Authority was previously briefed on Relationship Frameworks in a City Manager's presentation on September 29, 2021.

There are no financial implications from the adoption of the recommendations in this report.

The President, Toronto Parking Authority recommends that:

1.    The Board of Directors of Toronto Parking Authority provide authority to the President, Toronto Parking Authority, to award the Electric Vehicle Infrastructure Construction Contract for 2022-CON-VAR-D50.1 CP29, 43 and 304 be awarded to Energy Networking Services Inc., having submitted the lowest compliant bid and meeting all specifications in conformance with the Construction Tender requirements, in the amount of $1,049,921.79 plus $315,078.21 as a contingency allowance, being the sum total amount of $1,365,000.00 excluding Harmonized Sales Tax.

As the centrepiece of Toronto Parking Authority’s strategic platform, management is developing an Electric Vehicle Charging Program that will leverage Toronto Parking Authority’s portfolio of 300+ off-street facilities and 20,000 on-street parking spaces to develop a public network of Electric Vehicle charging infrastructure. Electric Vehicle charging services are a key component of Toronto Parking Authority’s transformation to a mobility provider and support Toronto’s Net Zero Strategy.

As part of Phase 1 of Toronto Parking Authority’s Electric Vehicle Charging Program, Toronto Parking Authority is planning to install up to 500 Electric Vehicle chargers at nearly 30 centrally-located off-street parking facilities by the end of 2024. This will represent the first phase of Toronto Parking Authority’s Electric Vehicle Charging Infrastructure Plan, which will see a comprehensive network of Electric Vehicle chargers constructed across Toronto Parking Authority’s portfolio of off-street and on-street parking.

Toronto Parking Authority issued a request for proposals to retain the construction services needed to complete the installation of 65 Electric Vehicle chargers and accompanying electrical infrastructure at Car Parks 29, 43 and 304 located at 75 Holly Street, 2 Church Street, and 11 Wellesley Street West, respectively. These three (3) car parks are the first Toronto Parking Authority off-street locations which will receive Electric Vehicle chargers as part of Toronto Parking Authority’s Electric Vehicle Charging Program. Construction services also include the installation of electrical infrastructure to support the installation of an E-Bike Share Station at Car Park 43. Construction Contract for 2022-CON-VAR-D50.1 CP29, 43 and 304 be awarded to Energy Networking Services Inc. in the amount of $1,049,921.79 plus $315,078.21 as a contingency allowance, being the sum total amount of $1,365,000.00 excluding HST. Sufficient funding to award this contract is available in the 2022 Capital Budget and 2023 – 2031 Capital Plan.

The amount to award the Electric Vehicle Infrastructure Construction Contract for 2022-CON-VAR-D50.1 CP29, 43 and 304 is $1,049,921.79 plus $315,078.21 as a contingency allowance, being the sum total amount of $1,365,000.00 excluding HST.

Sufficient funding for this work is available in the approved Toronto Parking Authority 2022 Capital Budget and 2023 – 2031 Capital Plan.

Toronto Parking Authority is also actively seeking climate-related funding opportunities from senior levels of government. Should Toronto Parking Authority be successful in obtaining climate-related funding, the Electric Vehicle Infrastructure Construction Contract will be eligible to receive rebates against costs incurred in delivering this project.

The President, Toronto Parking Authority recommends that:

1.  The Board of Directors of Toronto Parking Authority provide authority to the President, Toronto Parking Authority, to award the Consultant Contract for Request for Proposal 2022-CS-VAR-1040.32.3, to CIMA Canada Inc., having submitted the highest scoring proposal and meeting all the requirements from the Request for Proposal, in the amount of $1,500,000, excluding Harmonized Sales Tax. The funding is included in the 2022 - 2031 Capital Plan.

2.  The Board of Directors of Toronto Parking Authority provide authority to the President, Toronto Parking Authority, to award the Consultant Contract for Request for Proposal 2022-CS-VAR-1040.32.3, to WSP Canada Inc. having submitted the second highest scoring proposal and meeting all the requirements from the Request for Proposal, in the amount of $1,500,000, excluding Harmonized Sales Tax. The funding is included in the 2022 - 2031 Capital Plan.

The purpose of this report is to obtain authority from Toronto Parking Authority Board of Directors to award two (2) contracts for the consultant services needed to advance Phase Two of Toronto Parking Authority’s Electric Vehicle Charging Infrastructure Program. Toronto Parking Authority is proposing to retain the consultant services needed to support the completion of site assessments that will inform feasibility and cost, engineering designs and preparation of construction tenders and ultimately the contract administration services needed to manage construction of the Electric Vehicle charging infrastructure.

Phase Two of Toronto Parking Authority’s Electric Vehicle Charging Program will focus on assessing the feasibility of adding Electric Vehicle Charging Infrastructure at over 100 surface parking facilities. The location of the car parks has been identified through Toronto Parking Authority’s Electric Vehicle Charging Strategy and Deployment Plan and additional site assessments are now needed to assess the feasibility and opportunities at each of the sites based on available electrical capacity.

Surface parking facilities deemed feasible for Electric Vehicle infrastructure will proceed to the next phases of detailed design and tender preparation. Under the proposed awards, both consultants will also be available to provide contract administration services during the construction stage.

A Request for Proposals for the consultant services was issued on March 18, 2022. Five (5) proposals were received and five (5) were all deemed to be compliant.

To ensure that there are sufficient resources available for the successful delivery of Phase Two of Toronto Parking Authority’s Electric Vehicle Charging Program, Toronto Parking Authority structured the Request for Proposals to allow for two (2) separate consultants to be retained.

Based on a detailed evaluation of proposals received, Toronto Parking Authority is recommending that multi-year contracts be awarded to CIMA Canada Inc. and WSP Canada Inc., each with an upside limit of $1,500,000 (excluding HST). Sufficient funding is included in the approved 2022 Capital Budget and 2023 – 2031 Capital Plan.

The contract value for this multi-year engagement is $3,000,000, excluding HST ($1,500,000 for each consultant). It is anticipated that a maximum of $400,000 will be required in 2022 and that the balance of the contract value for this engagement will be dispersed across 2023, 2024 and 2025.

Funding for the Electric Vehicle Consultant Services is included in the approved Toronto Parking Authority 2022 Capital Budget and 2023 - 2031 Capital Plan. Toronto Parking Authority will adjust its proposed 2023 Capital Budget and 2024 - 2032 Plan to reflect the planned spend against these contracts.

Toronto Parking Authority will be including the costs associated with these contracts in its application for funding that has been made available in 2022 through Natural Resources Canada’s Zero Emission Vehicle Infrastructure Program. The Request for Proposals focusing on public places, on-street, multi-unit residential buildings, workplaces and vehicle fleets is now open and is closing on August 11, 2022. This Request for Proposals represents an incremental opportunity through Zero Emission Vehicle Infrastructure Program that is over and above the funding request that Toronto Parking Authority made in 2021.

The President, Toronto Parking Authority recommends that:

1.  The Board of Directors of Toronto Parking Authority approve the 2021 Toronto Parking Authority Annual Report for distribution.

Toronto Parking Authority has prepared its 2021 Annual Report, which outlines the accomplishments of the prior year and includes the consolidated audited financial statements and a message from the Toronto Parking Authority Board Chair.

The 2021 draft Annual Report included in Attachment 1 presents all of these materials with the exception of the financial statements. The 2021 financial statements are being submitted to the Toronto Parking Authority Board of Directors for approval at this meeting through a separate report (PA30.1).

Once approved, Toronto Parking Authority will incorporate the financial statements into the 2021 Annual Report and finalize for distribution and publishing on Toronto Parking Authority's website.

There is no financial impact resulting from the adoption of the recommendation in this report.

The President, Toronto Parking Authority recommends that:  

1. The Board of Directors of Toronto Parking Authority approve amendments to Toronto Parking Authority Policy Resolution 3-6 - Residential Overnight Use as outlined in Attachment 2.

At its meeting of February 18, 2022, Toronto Parking Authority Board of Directors referred Item PA28.5 to the President, Toronto Parking Authority and requested that the President, Toronto Parking Authority consult with local Councillors impacted by the proposed changes to Toronto Parking Authority Policy Resolution 3-6: Residential Overnight Use. 

Toronto Parking Authority has carried out further consultation about the proposed policy changes with each of the local Councillors that have car parks in their wards that are currently included in the Residential Overnight Use program (refer to Attachment 2, Schedule A for a list of the locations). All of the local Councillors consulted have indicated their support for the proposed amendments to Policy 3-6, which are included in Attachment 2, Schedule A.

To ensure that local Councillors are provided an opportunity to identify any community-based concerns with changes to the car parks or the hours in which Residential Permit Holders (“Permit Holders”) may park at these locations, Toronto Parking Authority is committing to consult with the local Councillors before any changes are implemented.

Toronto Parking Authority will further work with Transportation Services to both actively promote the car parks in which Permit Holders may park overnight at no charge and ensure that permit holders are provided advance notification of any changes Toronto Parking Authority is making to the car park locations identified in Policy 3-6 or the hours that Permit Holders may park at no cost.

There is no financial impact resulting from the adoption of the recommendation in this report.

The President, Toronto Parking Authority recommends that:

1.  The Board of Directors of Toronto Parking Authority provide authority to the President, Toronto Parking Authority, to award the Construction Contract for the 5068-37 – Exit Stairwell Rehabilitation at 20 Saint Andrew Street (Car Park 68) to Canada Construction Ltd., having submitted the lowest compliant bid and meeting all specifications in conformance with the Construction Tender requirements, in the amount of $2,507,900 plus $800,100 as a contingency allowance, being the sum total amount of $3,308,000 excluding Harmonized Sales Tax.

The Toronto Parking Authority is seeking to obtain board approval for emergency repairs to three (3) existing stairwells at Car Park 68, located at 20 Saint Andrew Street. Car Park 68 is a 25-year-old, seven (7) story parking structure with 433 spaces in the Kensington Market neighborhood. The annual gross revenues of Car Park 68 are forecasted to be approximately $1.3M for 2022. Pre-pandemic (2019) gross revenues were $1.6M. Car Park 68 is one of the top 15 highest revenue-generating garages across our portfolio.  As such, this investment is not only critical from a safety perspective, but also consistent with our strategy to reinvest in our infrastructure (Stage of Goods Repair) capital and reduce reputational risk to our brand.

Daniel Johnson Architect Inc., was retained by Toronto Parking Authority in August 2021 to perform a condition assessment of the car park, and undertake design services. Daniel Johnson Architect’s structural consultant found several deficiencies that require immediate attention, including the four stairwells at the North and South of the building. The current condition of the stairs is consistent with the end of service life for a 25-year-old facility. Daniel Johnson Architect provided a letter to Toronto Parking Authority from their structural consultant identifying that prompt action is needed in 2022 to replace the stairwells for public safety.

The Request for Tender package for stair replacement was issued for public tender on MERX on March 30^th, 2022, with two (2) bids received upon tender close on April 27^th, 2022.

Based on the bid price, ability to complete the work in the prescribed time and the conformance to tender requirements, Toronto Parking Authority is recommending that the contract of work for 5068-37 – Exit Stairwell Rehabilitation at 20 Saint Andrew Street (Car Park 68) be awarded to Canada Construction Ltd.  Replacement of the stairs is scheduled to start in June 2022 and the construction completion is scheduled for Quarter 1 2023.

The amount to award the construction contract for the 5068-37 – Exit Stairwell Rehabilitation at 20 Saint Andrew Street (Car Park 68) is $2,507,900 plus $800,100 as a contingency allowance, being the sum total amount of $3,308,000 excluding Harmonized Sales Tax.

Funding for this work is available in the approved Toronto Parking Authority 2022 Capital Budget, CPK 348-01.

The President, Toronto Parking Authority recommends that:  

1.  The Board of Directors of Toronto Parking Authority request Corporate Real Estate Management to negotiate, enter into and execute on behalf of Toronto Parking Authority, a licence of land agreement with Ontario Infrastructure and Lands Corporation with respect to the 15-space surface parking lot located at 20 Prescott Avenue, known as Car Park 133, in accordance with the terms and conditions as generally outlined in Confidential Attachment 1 and on such other terms and conditions or amended terms and conditions as may be acceptable to the President, Toronto Parking Authority, and in a form satisfactory to the City Solicitor.

2.  The Board of Directors of Toronto Parking Authority request Corporate Real Estate Management to negotiate, enter into and execute on behalf of Toronto Parking Authority, a licence of land agreement extension with Ontario Infrastructure and Lands Corporation with respect to the 25-space surface parking lot located at 1940 Lawrence Avenue East, known as Car Park 709, in accordance with the terms and conditions as generally outlined in Confidential Attachment 2 and on such other terms and conditions or amended terms and conditions as may be acceptable to the President, Toronto Parking Authority, and in a form satisfactory to the City Solicitor.

3.  The Board of Directors of Toronto Parking Authority direct that Confidential Attachments 1 and 2 remain confidential in their entirety, as the attachments relate to a position to be applied to negotiations being carried out by Toronto Parking Authority.

This report recommends that Toronto Parking Authority Board of Directors request Corporate Real Estate Management to negotiate and enter into a licence of land agreement for 20 Prescott Avenue (Car Park 133) and extend the licence of land agreement for 1940 Lawrence Avenue East (Car Park 709) (licence of land agreements for both sites are collectively referred to as Agreements), with Ontario Infrastructure and Lands Corporation (Owner) as managed and administered through Hydro One Networks Inc. to continue the operation of these two car parks (refer to Appendix A for site location maps).

Should the recommendations of this report be adopted by Toronto Parking Authority Board of Directors, and following Corporate Real Estate Management’s execution, the Agreements will extend Toronto Parking Authority’s operation at both Car Parks 133 and 709. The proposed Agreements with the Owner will be in accordance with the terms and conditions outlined in Confidential Attachment 1 and Confidential Attachment 2. 

The terms and conditions of the proposed property licence arrangements, including the results of a financial analysis, are outlined in Confidential Attachment 1s and 2.

The President, Toronto Parking Authority recommends that:  

1.    The Board of Directors of Toronto Parking Authority direct that Confidential Attachment 1 remain confidential in its entirety, as it relates to a position to be applied to negotiations being carried out by Toronto Parking Authority.

2.    The Board of Directors of Toronto Parking Authority request Corporate Real Estate Management to negotiate, enter into and execute on behalf of Toronto Parking Authority, a lease extension agreement with Karelada Investments Limited with respect to 5665 Yonge Street, in accordance with the terms and conditions as generally outlined in Confidential Attachment 1 and on such other terms and conditions or amended terms and conditions as may be acceptable to the President, Toronto Parking Authority, and in a form satisfactory to the City Solicitor.

3.    The Board of Directors of Toronto Parking Authority direct the President, Toronto Parking Authority to request Corporate Real Estate Management to have 5665 Yonge Street designated as part of the Municipal Parking Facility known as Car Park 419 at such time as the lease extension agreement is executed.

This report seeks authority from Toronto Parking Authority Board of Directors to direct City of Toronto Corporate Real Estate Management to enter into a Lease Extension Agreement (the “Agreement”) with Karelada Investments Limited (the “Owner” or “Karelada”) for the parcel of land located at 5665 Yonge Street. These lands have been leased by Toronto Parking Authority since 2006 and are currently incorporated into Car Park 419 (the “Property”) (refer to Appendix A - Site Location Map). Car Park 419 is comprised of both the leased lands at 5665 Yonge Street and a City-owned parcel located at 5667 Yonge Street.

Should the recommendations of this report be adopted, Corporate Real Estate Management will negotiate, enter into and execute the Agreement and extend the lease of the land until May 31, 2024 with three (3) optional renewal terms of one (1) year each. The proposed Agreement with the Owner will be in accordance with the terms and conditions outlined in Confidential Attachment 1. 

The terms and conditions of the proposed lease extension agreement, including the results of a financial analysis, are outlined in Confidential Attachment 1.

The President, Toronto Parking Authority recommends that:

1.  The Board of Directors, Toronto Parking Authority, receive this report for information.

2.  City Council direct that the confidential information contained in Confidential Attachment 1 remain confidential in its entirety, as it deals with personal matters about identifiable persons.

This report includes an update on an executive compensation benchmarking review conducted by a third party. Arlene Yam Fritz, Vice President, Human Resources will provide a review of this assessment to the Board at its meeting of May 27, 2022. The update will require a closed session discussion, as it deals with personal matters about identifiable persons.

There is no financial impact resulting from this report.

The Board Chair recommends that:

1.  The Board of Directors of the Toronto Parking Authority direct that the confidential information contained in Confidential Attachment 1 remain confidential in its entirety, as it deals with personal matters about an identifiable person.

The Board Chair asks the Board to consider the annual performance of the President of the Toronto Parking Authority at its meeting on May 27, 2022. In March 2022, the Chair of the Board of the Toronto Parking Authority directed a performance review of the President.  The approach for the performance review includes a self-assessment by the President. This report summarizes the performance review of the Toronto Parking Authority President.

There is no financial impact related to this report.