Further Information on 233 Carlton Street Lease Agreement

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The decision

2020-09-30 · Toronto City Council · amended

As filed

City Council on September 30, October 1 and 2, 2020, adopted the following: 1. City Council receive the report (September 17, 2020) from the Executive Director, Corporate Real Estate Management for information. 2. City Council direct the Deputy City Manager, Corporate Services and the Deputy City Manager, Community and Social Services to report to the October 27 and 28, 2020 meeting of City Council recommending a process to clarify the manner in which local Councillors are informed of: a.

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a proposed acquisition or lease of a shelter site prior to the execution of any related transactional documents; b. the nature of the information that will be provided; and c. how comments provided by the local Councillor will be reflected in the public reporting process.

On the agenda

As the city filed it

As directed by City Council at its meeting on July 28 and 29, 2020, the purpose of this report is to provide further information on the lease agreement at 233 Carlton Street including: 1) information pertaining to how the property first came to the attention of City Officials, 2) potential communications between senior City Officials and the WE Charity which may have impacted decision-making on site location and financial terms, and, 3) information supporting the fair market value of the lease.

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The City of Toronto (the "Tenant") entered into a Lease Agreement (the "Lease") with 1622774 Ontario Ltd. (the "Landlord"), for the property located at 233 Carlton Street (the "Property"), as a replacement location for the Adelaide Resource Centre for Women, currently located at 67 Adelaide Street East. The Lease was authorized by way of Council-approved real estate delegated authorities in August 2019, and adhered to the established approvals process supported by due diligence, and informed by market research and analysis.

Staff recommended

The Executive Director, Corporate Real Estate Management, recommends that: 1. City Council receive this report for information.

On the record

The item as the City filed it

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