Property Licence Agreement with Ontario Infrastructure and Lands Corporation - 20 Prescott Avenue (Car Park 133) and 1940 Lawrence Avenue East (Car Park 709)

to continue the operation of these two car parks (refer to Appendix A for site location maps). Should the recommendations of this report be adopted by Toronto Parking Authority Board of Directors, and following Corporate Real Estate Management's execution, the Agreements will extend Toronto Parking Authority's operation at both Car Parks 133 and 709. The proposed Agreements with the Owner will be in accordance with the terms and conditions outlined in Confidential Attachment 1 and Confidential Attachment 2.

2. The Board of Directors of Toronto Parking Authority request Corporate Real Estate Management to negotiate, enter into and execute on behalf of Toronto Parking Authority, a licence of land agreement extension with Ontario Infrastructure and Lands Corporation with respect to the 25-space surface parking lot located at 1940 Lawrence Avenue East, known as Car Park 709, in accordance with the terms and conditions as generally outlined in Confidential Attachment 2 and on such other terms and conditions or amended terms and conditions as may be acceptable to the President, Toronto Parking Authority, and in a form satisfactory to the City Solicitor. 3. The Board of Directors of Toronto Parking Authority direct that Confidential Attachments 1 and 2 remain confidential in their entirety, as the attachments relate to a position to be applied to negotiations being carried out by Toronto Parking Authority.