Contract Award - Exit Stairwell Rehabilitation at 20 Saint Andrew Street (Car Park 68)

Car Park 68 is one of the top 15 highest revenue-generating garages across our portfolio. As such, this investment is not only critical from a safety perspective, but also consistent with our strategy to reinvest in our infrastructure (Stage of Goods Repair) capital and reduce reputational risk to our brand. Daniel Johnson Architect Inc., was retained by Toronto Parking Authority in August 2021 to perform a condition assessment of the car park, and undertake design services. Daniel Johnson Architect's structural consultant found several deficiencies that require immediate attention, including the four stairwells at the North and South of the building. The current condition of the stairs is consistent with the end of service life for a 25-year-old facility. Daniel Johnson Architect provided a letter to Toronto Parking Authority from their structural consultant identifying that prompt action is needed in 2022 to replace the stairwells for public safety. The Request for Tender package for stair replacement was issued for public tender on MERX on March 30 th , 2022, with two (2) bids received upon tender close on April 27 th , 2022. Based on the bid price, ability to complete the work in the prescribed time and the conformance to tender requirements, Toronto Parking Authority is recommending that the contract of work for 5068-37 - Exit Stairwell Rehabilitation at 20 Saint Andrew Street (Car Park 68) be awarded to Canada Construction Ltd. Replacement of the stairs is scheduled to start in June 2022 and the construction completion is scheduled for Quarter 1 2023.

the Construction Tender requirements, in the amount of $2,507,900 plus $800,100 as a contingency allowance, being the sum total amount of $3,308,000 excluding Harmonized Sales Tax.