The filed record
Authorization to Release Section 37 Funds from the Development at 150 Sudbury Street for Capital Improvements to the Theatre Centre at 1115 Queen Street West - by Councillor Ana Bailão, seconded by Councillor Joe Cressy
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The decision
2019-04-16 · Toronto City Council · adopted
As filed
City Council on April 16 and 17, 2019, adopted the following: 1. City Council increase the 2019 Approved Operating Budget for Non-Program by a one-time basis by $200,000 gross, $0 net, fully funded by Section 37 (Planning Act Reserve Funds) community benefits from 150 Sudbury Street (Source Account: XR3026- 3700458) for transfer to B.A.A.N.N. Theatre Centre for capital improvements to the Carnegie Library building located at 1115 Queen Street West (Cost Centre: NP2161).
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2. City Council direct that the $200,000.00 be forwarded to the Theatre Centre subject to the Centre signing an Undertaking governing the use of the funds and the financial reporting requirements.
On the agenda
As the city filed it
This Motion recommends the release of Sections 37 Planning Act funds to the B.A.A.N.N. Theatre Centre for the purpose of undertaking capital improvements to the Theatre Centre at 1115 Queen Street West. The Theatre Centre is a nationally recognized live-arts incubator that serves as a research and development hub for the arts and culture sector. The Theatre Centre moved into the historic Carnegie Library in March of 2014.
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This was the result of Section 37 negotiations in nearby redevelopment sites. The Theatre Centre provides a diverse and accessible public space that is greatly used by community members. Since its inception, the Theatre Centre has raised over five million dollars to continue improvements to the building, however, they are short $200,000. Funds have been secured from the development at 150 Sudbury Street as community benefits through Sections 37 Planning Act to be allocated towards capital improvements renovation and restoration of Carnegie Library building located at 1115 Queen Street West. The funds identified have been received by the City.
Staff recommended
Councillor Ana Bailão, seconded by Councillor Joe Cressy, recommends that: 1. City Council increase the 2019 Approved Operating Budget for Non-Program by a one-time basis by $200,000 gross, $0 net, fully funded by Section 37 (Planning Act Reserve Funds) community benefits from 150 Sudbury Street (Source Account: XR3026- 3700458) for transfer to B.A.A.N.N. Theatre Centre for capital improvements to the Carnegie Library building located at 1115 Queen Street West (Cost Centre: NP2161).
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2. City Council direct that the $200,000.00 be forwarded to the Theatre Centre subject to the Centre signing an Undertaking governing the use of the funds and the financial reporting requirements.
On the record
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