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←Toronto Parking Authority · 2019-01-29 · 2019.PA2.2

The filed record

Technical Amendments to Parking Management Agreement - 4 Rosemount Avenue

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The decision

2019-01-29 · Toronto Parking Authority · adopted

As filed

The Board of Directors of the Toronto Parking Authority: 1. Authorized Toronto Parking Authority staff to make technical amendments to the terms and conditions approved by the Board of Directors of the Toronto Parking Authority at its December 19, 2017 meeting (Item PA6.1, Parking Management Agreement - 30 Rosemount Inc., 4 Rosemount Avenue) in respect of a parking management agreement with Rosemount Properties Inc. to

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operate the 34-space surface parking facility located at 4 Rosemount Avenue, in general accordance with the Draft Agreement appended as Attachment 1 to the report (January 18, 2019) from the Acting President, Toronto Parking Authority.

On the agenda

As the city filed it

The Toronto Parking Authority (TPA) Board of Directors (Board), at its meeting of December 19, 2017, authorized staff to enter into a parking management agreement with 30 Rosemount Properties Inc. to manage the 34-space parking facility located at 4 Rosemount Avenue (Subject Property), generally in accordance with the terms and conditions set out in Board Item PA6.1, as approved. Certain technical adjustments have arisen

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in the course of finalizing the agreement requiring acknowledgement from the Board and refinement of the approved terms and conditions, namely: - A change in ownership of the Subject Property; - That the TPA, not the owner, will supply the required pay and display machine and parking signage; and - An option to extend the one-year pilot term for an additional five years is being deleted.

Staff recommended

The Acting President, Toronto Parking Authority recommends that: 1. The Board of Directors of the Toronto Parking Authority authorize staff to make technical amendments to the terms and conditions approved by the Board at its December 19, 2017 meeting (Item PA6.1) in respect of a parking management agreement with Rosemount Properties Incorporated to operate the 34-space surface parking facility located at 4 Rosemount

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Avenue, in general accordance with the Draft Agreement appended as Attachment 1 to this report from the Acting President, Toronto Parking Authority.

    On the record

    The item as the City filed it

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