Release of Section 37 funds to the St. Lawrence Market Neighbourhood BIA for streetscape and public realm improvements in the St. Lawrence Community - by Councillor Kristyn Wong-Tam, seconded by Councillor Joe Cressy

Given the increasing development pressures of this area, it is important that public realm infrastructure be expanded and improved to meet the needs of a growing population in the downtown. While the site plan has already been approved, the developer, Cityzen, is willing to include this in their scope of work so long as it does not significantly delay their timeline. The St. Lawrence Business Improvement Area has led the way on this initiative by providing drawings, speaking with staff and working with the developer to ensure the community benefits from the proposed road alteration. The Business Improvement Area has already paid the upfront costs for much of this work and this motion is to reimburse them for this critical infrastructure work. Funds have been secured through a Section 37 agreement for the development at 25 Ontario Street and 280 King Street East for local streetscape/parkland improvements within the vicinity of the Site. The funds secured have been received by the City and sufficient monies remain uncommitted for this project.

Lawrence Market Neighbourhood Business Improvement Area for streetscape and public realm improvements in the St. Lawrence Community (cost centre NP2161). 2. City Council direct that the $400,000.00 be forwarded to the St. Lawrence Market Neighbourhood Business Improvement Area, subject to the Business Improvement Area signing an Undertaking governing the use of the funds and the financial reporting requirements.