Indigenous Centre for Innovation and Entrepreneurship - Incubator Tenancy Program and Head Lease Terms

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The decision

2022-07-19 · Toronto City Council · adopted

As filed

City Council on July 19, 20, 21 and 22, 2022, adopted the following: 1. City Council authorize the creation of an Indigenous Incubator Tenancy Program at the Indigenous Centre for Innovation and Entrepreneurship as described in Attachment A to the report (June 17, 2022) from the Interim General Manager, Economic Development and Culture, and the Executive Director, Corporate Real Estate Management to encourage the establishment and initial growth of Indigenous-owned businesses pursuant to section 84 of the City of Toronto Act, 2006.

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2. City Council authorize the Executive Director, Corporate Real Estate Management, on behalf of the City, to enter into a five (5) year nominal lease agreement (the "Lease") with a Head Tenant for the use of the Indigenous Centre for Innovation and Entrepreneurship space, subject to the terms and conditions outlined in Attachment B to the report (June 17, 2022) from the Interim General Manager, Economic Development and Culture, and the Executive Director, Corporate Real Estate Management, and other or amended terms and conditions that are acceptable to the Executive Director, Corporate Real Estate Management, or designate, and in a form satisfactory to the City Solicitor. 3. City Council direct, notwithstanding any applicable City policy to the contrary, that all rental revenues from any sublease or permit fees permitted under the Lease (the "Rental Revenues") be retained by the Head Tenant so long as such rental revenues are reinvested in on-site operations or programming at the Indigenous Centre for Innovation and Entrepreneurship and in accordance with any applicable Lease, Operating, Funding or Service agreement between the City and Head Tenant on such terms and conditions as may be deemed appropriate by the General Manager, Economic Development and Culture and if applicable the Executive Director, Corporate Real Estate Management, or each of their designates, and in form acceptable to the City Solicitor. 4. City Council authorize the City Solicitor to complete the agreements authorized by City Council's decision on behalf of the City, including amending the commencement date of the agreements and other dates, and amending terms and conditions, on such terms as the City Solicitor deems advisable.

On the agenda

As the city filed it

To support Indigenous entrepreneurship in Toronto, this report seeks City Council direction to create an Incubator Tenancy Program (the "Program") at the Indigenous Centre for Innovation and Entrepreneurship, located in a City-owned section of a condominium building at 200 Dundas Street East, as well as authority to enter into a lease agreement (the "Lease") with an Indigenous-led organization or consortium selected as the operator (the "Operator") and head tenant (the "Head Tenant") of the Indigenous Centre for Innovation and Entrepreneurship.

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Through the Program, the Head Tenant will be authorized to enter into sub-lease agreements with eligible Indigenous small businesses at less than fair market value for the use of space on the ground floor (4,789 square feet), second floor (10,933 square feet) or third floor (6,778 square feet) of the Indigenous Centre for Innovation and Entrepreneurship. In certain circumstances, outlined in this report, the Head Tenant may also enter into sub-lease agreements with Indigenous and non-Indigenous organizations at fair market value or charge permit fees, provided that they work with and support Indigenous entrepreneurs and innovators and/or provide social and/or commercial benefit to the Indigenous Centre for Innovation and Entrepreneurship and community. As part of the City of Toronto's financial support for the Indigenous Centre for Innovation and Entrepreneurship and its Head Tenant, this report recommends that City Council allow the Head Tenant to retain as revenue the rental income from such agreements or permits, provided that these funds are fully reinvested in the on-site operations and programming of the Indigenous Centre for Innovation and Entrepreneurship.

Staff recommended

The Interim General Manager, Economic Development and Culture, and the Executive Director, Corporate Real Estate Management, recommends that: 1. City Council authorize the creation of an Indigenous Incubator Tenancy Program at the Indigenous Centre for Innovation and Entrepreneurship, as described in Attachment A, to encourage the establishment and initial growth of Indigenous-owned businesses pursuant to section 84 of the City of Toronto Act, 2006.

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2. City Council authorize the Executive Director, Corporate Real Estate Management, on behalf of the City, to enter into a five (5) year nominal lease agreement (the "Lease") with a Head Tenant for the use of the Indigenous Centre for Innovation and Entrepreneurship space, subject to the terms and conditions outlined in Attachment B, and other or amended terms and conditions that are acceptable to the Executive Director, Corporate Real Estate Management, or designate, and in a form satisfactory to the City Solicitor. 3. City Council direct, notwithstanding any applicable City policy to the contrary, that all rental revenues from any sublease or permit fees permitted under the Lease (the "Rental Revenues") be retained by the Head Tenant so long as such rental revenues are reinvested in on-site operations or programming at the Indigenous Centre for Innovation and Entrepreneurship and in accordance with any applicable Lease, Operating, Funding or Service agreement between the City and Head Tenant on such terms and conditions as may be deemed appropriate by the General Manager, Economic Development and Culture and if applicable the Executive Director, Corporate Real Estate Management, or each of their designates, and in form acceptable to the City Solicitor. 4. City Council authorize the City Solicitor to complete the agreements authorized herein on behalf of the City, including amending the commencement date of the agreements and other dates, and amending terms and conditions, on such terms as the City Solicitor deems advisable.

Considered

2022-07-04 · General Government and Licensing Committee · adopted
Decision as filed
The General Government and Licensing Committee recommends that: 1. City Council authorize the creation of an Indigenous Incubator Tenancy Program at the Indigenous Centre for Innovation and Entrepreneurship, as described in Attachment A to the report (June 17, 2022) from the Interim General Manager, Economic Development and the Culture, and the Executive Director, Corporate Real Estate Management, to encourage the establishment and initial growth of Indigenous-owned businesses pursuant to section 84 of the City of Toronto Act, 2006.
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2. City Council authorize the Executive Director, Corporate Real Estate Management, on behalf of the City, to enter into a five (5) year nominal lease agreement (the "Lease") with a Head Tenant for the use of the Indigenous Centre for Innovation and Entrepreneurship space, subject to the terms and conditions outlined in Attachment B to the report (June 17, 2022) from the Interim General Manager, Economic Development and the Culture, and the Executive Director, Corporate Real Estate Management, and other or amended terms and conditions that are acceptable to the Executive Director, Corporate Real Estate Management, or designate, and in a form satisfactory to the City Solicitor. 3. City Council direct, notwithstanding any applicable City policy to the contrary, that all rental revenues from any sublease or permit fees permitted under the Lease (the "Rental Revenues") be retained by the Head Tenant so long as such rental revenues are reinvested in on-site operations or programming at the Indigenous Centre for Innovation and Entrepreneurship and in accordance with any applicable Lease, Operating, Funding or Service agreement between the City and Head Tenant on such terms and conditions as may be deemed appropriate by the General Manager, Economic Development and Culture and if applicable the Executive Director, Corporate Real Estate Management, or each of their designates, and in form acceptable to the City Solicitor. 4. City Council authorize the City Solicitor to complete the agreements authorized herein on behalf of the City, including amending the commencement date of the agreements and other dates, and amending terms and conditions, on such terms as the City Solicitor deems advisable.
2022-07-19 · Toronto City Council · adopted

On the record

The item as the City filed it

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