Authorization to Release Section 37 (Planning Act) Funds from the 319 Jarvis Street development for capital improvements to the future space of the Indigenous Centre for Innovation and Entrepreneurship at 200 Dundas Street East - by Councillor Robin Buxton Potts, seconded by Mayor John Tory

The Indigenous Centre for Innovation and Entrepreneurship will be operated by an Indigenous led organization or consortium selected through a competitive procurement process. A central pillar of the City of Toronto's 2010 Commitments to Indigenous Peoples as well as the City's 2022 - 2032 Reconciliation Action Plan, the Indigenous Centre for Innovation and Entrepreneurship is designed to give Indigenous residents and business owners an opportunity to explore their entrepreneurial aspirations by providing space (at below market rent), business programming, advisory services, mentorship supports, a community event venue and connections to business networks. A tender for construction of the Indigenous Centre for Innovation and Entrepreneurship space closed on April 24, 2022. Due to the rise in the price of construction materials caused by the pandemic and supply chain issues, the tender came in over budget. In order to re-issue the construction tender and be in a position to award it without further delay, there is an immediate need to identify additional funding which can be allocated to the Indigenous Centre for Innovation and Entrepreneurship's capital account. This Motion recommends that Section 37 funds from Ward 13, dedicated towards community cultural space, be allocated to the capital requirements of the Indigenous Centre for Innovation and Entrepreneurship, and that the City Manager be authorized to request, negotiate and execute an amendment to the existing Contribution Agreement with the Government of Canada for the Indigenous Centre for Innovation and Entrepreneurship to make project funds available for capital construction expenses. If the Government of Canada agrees to amend its existing Contribution Agreement with the City of Toronto for the Indigenous Centre for Innovation and Entrepreneurship to allow for funds currently designated for Indigenous Centre for Innovation and Entrepreneurship operational start-up costs, but not anticipated to be required, to be used instead for Indigenous Centre for Innovation and Entrepreneurship construction costs, these Section 37 funds will not be utilized. However, in order for the Indigenous Centre for Innovation and Entrepreneurship construction tender to be re-issued and awarded in a timely manner these Section 37 funds need to be committed.

2. City Council authorize the City Manager to request, negotiate and execute an amendment to the existing Contribution Agreement for the Indigenous Centre for Innovation and Entrepreneurship between the City of Toronto and the Federal Economic Development Agency for Southern Ontario to reallocate funding currently allocated for operational start-up costs to the Indigenous Centre for Innovation and Entrepreneurship capital account in a form satisfactory to the City Solicitor.