ModernTO: Transfer of Properties to Build Toronto Inc. and Proposed Municipal Capital Facility Agreement

2. City Council authorize severally each of the Executive Director, Corporate Real Estate Management, and the Director, Transactions Services to execute the documents required to complete the transfer transaction. 3. City Council authorize the Executive Director, Corporate Real Estate Management to enter into a fully net lease with nominal base rent for those parts of the lands identified in Confidential Attachment 1 to the report (January 6, 2023) from the Executive Director, Corporate Real Estate Management, with Build Toronto Inc. or the subsequent owner of the lands, substantially on the terms summarized in Confidential Attachment 1 to the report (January 6, 2023) from the Executive Director, Corporate Real Estate Management 4. City Council pass a by-law pursuant to Section 252 of the City of Toronto Act, 2006, providing authority to: a. enter into a Municipal Capital Facility Agreement with Build Toronto Inc. or the subsequent owner of the lands, for the lands identified in Confidential Attachment 1 to the report (January 6, 2023) from the Executive Director, Corporate Real Estate Management, comprised of approximately 16,361 square feet of community space (the "Leased Premises"), for the purposes of providing a Municipal Capital Facility related to the provision of social and health services and ancillary parking; and b. exempt the Leased Premises and ancillary parking, if any, from taxation for municipal and school purposes, with the tax exemption being effective from the latest of: i. the commencement date of the Lease; ii. the date the Municipal Capital Facility Agreement is entered into; and iii. the date the Tax Exemption By-law is enacted. 5. City Council direct the City Clerk to give written notice of the by-law to the Minister of Finance, the Municipal Property Assessment Corporation, the Toronto District School Board, the Toronto Catholic District School Board, le Conseil Scolaire Viamonde, and le Conseil Scolaire Catholique Mon Avenir. 6. City Council approve, as the approving authority under the provisions of the Expropriations Act, the disposal to Build Toronto Inc. of any property, that forms part of the transactions contemplated by this report, that was acquired by expropriation without giving the original owner from whom the property was expropriated the first chance to repurchase the property. 7. City Council authorize the public release of Confidential Attachment 1 to the report (January 6, 2023) from the Executive Director, Corporate Real Estate Management, following the closing of the transactions contemplated in Confidential Attachment 1 to the report (January 6, 2023) from the Executive Director, Corporate Real Estate Management, at the discretion of the Executive Director, Corporate Real Estate Management. 8. City Council authorize the public release of Confidential Attachments 1 and 2 to the report (November 3, 2022) from the Chief Executive Officer, CreateTO following the closing of any agreement of purchase and sale transaction. 9. City Council request the Deputy City Manager, Corporate Services, in consultation with CreateTO, to report to the General Government Committee in the second quarter of 2023, on guidelines and principles for achieving "City Building Objectives" when properties are transferred to CreateTO or sold to the private sector. Confidential Attachment 1 to the report (January 6, 2023) from the Executive Director, Corporate Real Estate Management, remains confidential at this time in accordance with the provisions of the City of Toronto Act, 2006, as it deals with a proposed or pending acquisition or sale of land for municipal or local board purposes. Confidential Attachment 1 to the report (January 6, 2023) from the Executive Director, Corporate Real Estate Management, will be made public following the closing of the transactions contemplated in Confidential Attachment 1 to the report (January 6, 2023) from the Executive Director, Corporate Real Estate Management, at the discretion of the Executive Director, Corporate Real Estate Management. Confidential Attachments 1 and 2 to the report (November 3, 2022) from the Chief Executive Officer, CreateTO, remain confidential at this time and will be made public following the closing of any agreement of purchase and sale transaction.