2019 Rate Supported Budgets - Toronto Parking Authority

Considered

• 2019-03-04 · Executive Committee · amended

  Decision as filed

  The Executive Committee recommends that: 1. City Council approve the principle that Bike Share as a municipal service is an integral component in the City's transportation, transit and mobility network, and as such, there is considerable merit in continuing City investment and support in the program. 2. City Council acknowledge that user/operating revenues alone will not completely cover ongoing operating expenses of Bike Share, and municipal subsidy will likely be required to offset capital requirements (State of Good Repair and expansion) and net operating deficits.

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  3. City Council approve the "Financial Sustainability Principles" set out in the report (November 20, 2018) from the Acting President, Toronto Parking Authority, and that funding current outstanding, as well as future Bike Share capital programs and operating deficits, as necessary, be considered as part of the annual budget cycle in accordance with these principles, namely: a. efficiency in operations - the need to continually optimize the expense side of operating the Bike Share system; b. securing system sponsorship and advertising - as key elements to offset operating deficits and ensure the long-term financial sustainability of Bike Share; c. commitment to municipal funding subsidies - to address any system shortfalls as well as capital programs, recognizing the value of the municipality continuing to invest in a Bike Share program; d. subsidy funding would not rely on property tax sources, debt financing or impact operating budgets; and e. future years' net surplus operating funds, if any, be deposited to the Bike Share Reserve. 4. City Council authorize that, in accordance with the principles set out in Recommendation 3 above, current outstanding unallocated Capital and Operating cash deficits for Bike Share be funded as follows: a. outstanding 2016 capital requirements in the amount of $301,000: from interest accruing on Metrolinx funds and retained by Toronto Parking Authority ($123,500); and from the Bike Share Reserve XQ-0013 ($177,500); b. remaining 2013-2016 cumulative operating cash deficit which has not been covered by existing Bike Share Reserve funds, in the amount of $1,054,000 from the Public Realm Reserve Fund XR-1410; c. 2017 Operating cash deficit of $2,148,000 from the Public Realm Reserve; d. 2018 Operating final cash deficit amount, currently projected to be $2,279,000, from the Public Realm Reserve Fund XR-1410; and e. proposed 2019 capital expansion, municipal share under the Ontario Municipal Commuter Cycling Program, in the amount of $1.5 million from received Section 37 and 45 funds. 5. City Council direct that its previous request, namely that the Chief Planner and Executive Director, City Planning and the General Manager, Transportation Services report back on a review of Toronto's parking standards for new multi-unit residential and commercial developments with the objective to consider the expansion of public bike sharing programs at net zero costs to the City, be revisited. 6. City Council approve, as amended by Recommendations 1, 2, 3, 4 and 5 above, the 2019 Staff Recommended Operating Budget for Toronto Parking Authority of $100.599 million gross, ($66.538 million) net for the following services: Service: Gross ($000s) Net ($000s) On-Street Parking 12,091.6 (45,500.4) Off-Street Parking 82,362.8 (21,062.8) Bike Share Program 6,145.0 25.0 Total Program Budget 100,599.4 (66,538.2) 7. City Council approve the 2019 service levels for Toronto Parking Authority as outlined in Appendix 3 to the 2019 Staff Recommended Operating and Capital Budget Notes - Toronto Parking Authority, and associated staff complement of 328.5 operating positions. 8. City Council approve the 2019 Staff Recommended Capital Budget for Toronto Parking Authority with a total project cost of $102.902 million, and 2019 cash flow of $68.640 million and future year commitments of $100.448 million comprised of the following: a. New Cash Flow Funds for: i. 22 new/change in scope sub-projects with a 2019 total project cost of $102.902 million that requires cash flow of $6.454 million in 2019 and future year cash flow commitments of $17.400 million for 2020; $18.168 million for 2021; $5.500 million for 2022; $19.180 million for 2023; $14.200 million for 2024; $5.500 million for 2025; $5.500 million for 2026; $5.500 million for 2027; and $5.500 million for 2028; and ii. four previously approved sub-projects with a 2019 cash flow of $21.260 million and future year cash flow commitments of $4.000 million for 2020; and b. 2018 approved cash flow for 46 previously approved sub-projects with carry forward funding from 2018 into 2019 totalling $40.926 million. 9. City Council approve the 2020 - 2028 Staff Recommended Capital Plan for Toronto Parking Authority of $217.800 million in project estimates, comprised of $7.300 million for 2020; $12.500 million for 2021; $36.000 million for 2022; $38.000 million for 2023; $45.800 million for 2024; $46.900 million for 2025; $27.300 million for 2026; $2.000 million for 2027; and $2.000 million for 2028. 10. City Council consider the operating revenues of $0.766 million net in 2019; $1.516 million net in 2020; $1.565 million net in 2021; $1.538 million net in 2022; $2.075 million net in 2023; $2.675 million net in 2024; $3.158 million net in 2025; $2.620 million net in 2026; $1.640 million in 2027; and $0.375 million net resulting from the approval of the 2019 Capital Budget for inclusion in the 2019 and future year operating budgets. 11. City Council direct the President, Toronto Parking Authority to report back to Council in 2019 once they have identified and secured a long-term sponsor for the Bike Share Program. 12. City Council request the Toronto Parking Authority Board to request the President, Toronto Parking Authority to report to the Budget Committee on the following for consideration prior to the 2020 Budget Process: a. ridership changes at Bike Share stations directly adjacent to the Richmond/Adelaide and Bloor Street West bike lanes, from before implementation to implementation; and b. the feasibility and financial impact of extending Bike Share travel times from 30 minutes to 45 minutes for annual members.

• 2019-03-07 · Toronto City Council · amended