New Off-Street Parking Opportunity - 229 Richmond Street West (Car Park 305)

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The decision

2020-02-03 · Toronto Parking Authority · adopted

As filed

The Board of Directors of Toronto Parking Authority: 1. Authorized the President, Toronto Parking Authority, to enter into a Letter of Understanding with the Executive Director, Corporate Real Estate Management, in consultation with the Chief Executive Officer, CreateTO, to manage the 83-space surface parking lot located at 229 Richmond Street West (Car Park 305), under the terms and conditions in Table 2 in the report (January 22, 2020) from the Acting President, Toronto Parking Authority, and any such other or amended terms and conditions as may be acceptable to the President, Toronto Parking Authority, and in a form satisfactory to the City Solicitor.

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2. Authorized the President, Toronto Parking Authority, to spend an amount not exceeding $90,000, excluding Harmonized Sales Tax, for capital improvements required to bring the 83-space surface parking lot located at 229 Richmond Street West (Car Park 305) to a suitable standard for municipal public parking purposes, generally comprising the supply of revenue control equipment, pavement markings, minor asphalt repair, lighting, and signage.

On the agenda

As the city filed it

In October of 2019, City Council approved the acquisition of a privately-owned property at 229 Richmond Street West (Property) for strategic city building purposes and the acquisition closed January 15, 2020. CreateTO, with internal and external stakeholders, including Toronto Parking Authority (TPA), will work to develop plans for the future use of the Property, which may include municipal parking, and report back to Council in the second quarter of 2020 with a Precinct Plan, which will outline the uses and the funding model.

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On an interim basis, TPA has been approached by CreateTO, acting on behalf of the City of Toronto (the Owner), to operate municipal public parking at this location. As the Property has been operated as a commercial parking facility, only minor capital improvements are needed to ensure the facility meets standards for municipal public parking purposes. This report seeks TPA Board of Directors' approval to enter into a Letter of Understanding (LOU) with the Owner to establish and manage a new interim municipal off-street surface parking facility. The 83-space surface parking facility, referred to as Car Park 305, will be located at 229 Richmond Street West (Property, see Attachment 1 - Site Location Map). TPA staff are also seeking approval to undertake minor capital improvements to ensure the facility meets suitable standards for municipal public parking purposes.

Staff recommended

The Acting President, Toronto Parking Authority recommends that: 1. The Board of Directors of Toronto Parking Authority authorize the President, Toronto Parking Authority, to enter into a Letter of Understanding with the Executive Director, Corporate Real Estate Management, in consultation with the Chief Executive Officer, CreateTO, to manage the 83-space surface parking lot located at 229 Richmond Street West (Car Park 305), under the terms and conditions in Table 2 and any such other or amended terms and conditions as may be acceptable to the President, Toronto Parking Authority, and in a form satisfactory to the City Solicitor.

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2. The Board of Directors of Toronto Parking Authority authorize the President, Toronto Parking Authority, to spend an amount not exceeding $90,000, excluding Harmonized Sales Tax, for capital improvements required to bring the 83-space surface parking lot located at 229 Richmond Street West (Car Park 305) to a suitable standard for municipal public parking purposes, generally comprising the supply of revenue control equipment, pavement markings, minor asphalt repair, lighting, and signage.

On the record

The item as the City filed it

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