Below Market Lease Agreement with a Selected Non-Profit Child Care Operator in East Bayfront - 75 Edgewater Drive

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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 Executive Director, Corporate Real Estate Management, on behalf of the City as landlord, to enter into a nominal lease agreement with a not-for-profit child care centre operator selected by the General Manager, Children's Services pursuant to an expression of interest, as tenant, for a term of ten (10) years with an option

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to renew for a further ten (10) years in respect of the Leased Premises, (more particularly described in Appendix A to the report (June 17, 2022) from the Executive Director, Corporate Real Estate Management, and the General Manager, Children's Services), substantially on the terms and conditions set out in Appendix B to the report (June 17, 2022) from the Executive Director, Corporate Real Estate Management, and the General Manager, Children's Services, and on such other or amended terms and conditions that are acceptable to the Executive Director, Corporate Real Estate Management and in a form satisfactory to the City Solicitor. 2. City Council authorize each of the Executive Director, Corporate Real Estate Management, and the Director, Transaction Services, Corporate Real Estate Management severally to execute the Lease, and any related documents on behalf of the City. 3. City Council authorize the Executive Director, Corporate Real Estate Management, their successors and designates, to administer and manage the Lease, including the provision of any consents, approvals, waivers, notices (including notices of termination) provided that the Executive Director, Corporate Real Estate Management may, at any time, refer consideration of such matters to City Council for direction and determination.

On the agenda

As the city filed it

The purpose of this report is to obtain City Council authority for the City, as landlord, to enter into a nominal lease agreement (the "Lease") in respect of 75 Edgewater Drive, (the "Leased Premises") with a not-for-profit child care centre operator (the "Tenant") to be selected by the General Manager, Children's Services, pursuant to an Expression of Interest process currently being conducted by the Children's Services.

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The Leased Premises are a two-level stratified, City-owned space, consisting of approximately 8,912 square feet of interior space and 3,900 square feet of outdoor space, situated within a mixed-use residential complex in the newly developed East Bayfront precinct. The Lease will be for an initial term of 10 years (the "Term"), with an option to renew for an additional term of 10 years.

Staff recommended

The Executive Director, Corporate Real Estate Management and General Manager, Children's Services, recommend that: 1. City Council authorize the Executive Director, Corporate Real Estate Management, on behalf of the City as landlord, to enter into a nominal lease agreement with a not-for-profit child care centre operator selected by the General Manager, Children's Services pursuant to an expression of interest, as tenant,

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for a term of ten (10) years with an option to renew for a further ten (10) years in respect of the Leased Premises, (more particularly described in Appendix A hereto), substantially on the terms and conditions set out in Appendix B of this report, and on such other or amended terms and conditions that are acceptable to the Executive Director, Corporate Real Estate Management and in a form satisfactory to the City Solicitor. 2. City Council authorize each of the Executive Director, Corporate Real Estate Management, and the Director, Transaction Services, Corporate Real Estate Management severally to execute the Lease, and any related documents on behalf of the City. 3. City Council authorize the Executive Director, Corporate Real Estate Management, their successors and designates, to administer and manage the Lease, including the provision of any consents, approvals, waivers, notices (including notices of termination) provided that the Executive Director, Corporate Real Estate Management may, at any time, refer consideration of such matters to City Council for direction and determination.

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 Executive Director, Corporate Real Estate Management, on behalf of the City as landlord, to enter into a nominal lease agreement with a not-for-profit child care centre operator selected by the General Manager, Children's Services pursuant to an expression of interest, as tenant, for a term of ten (10) years with an option to
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renew for a further ten (10) years in respect of the Leased Premises, (more particularly described in Appendix A to the report (June 17, 2022) from the Executive Director, Corporate Real Estate Management, and the General Manager, Children's Services, hereto), substantially on the terms and conditions set out in Appendix B to the report (June 17, 2022) from the Executive Director, Corporate Real Estate Management, and the General Manager, Children's Services, and on such other or amended terms and conditions that are acceptable to the Executive Director, Corporate Real Estate Management and in a form satisfactory to the City Solicitor. 2. City Council authorize each of the Executive Director, Corporate Real Estate Management, and the Director, Transaction Services, Corporate Real Estate Management severally to execute the Lease, and any related documents on behalf of the City. 3. City Council authorize the Executive Director, Corporate Real Estate Management, their successors and designates, to administer and manage the Lease, including the provision of any consents, approvals, waivers, notices (including notices of termination) provided that the Executive Director, Corporate Real Estate Management may, at any time, refer consideration of such matters to City Council for direction and determination.
2022-07-19 · Toronto City Council · adopted

On the record

The item as the City filed it

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