Amendment of Waterfront Property Management Agreement with Toronto Port Lands Company

The Public Gallery wrote no story on this item. What follows is the city’s own record of what happened to it, as filed: nothing on this page is summarised or scored by us.

The decision

2023-10-11 · Toronto City Council · adopted

As filed

City Council on October 11 and 12, 2023, adopted the following: 1. City Council authorize the Executive Director, Corporate Real Estate Management to execute an amendment to the Property Management Agreement dated January 4, 1995 between the City of Toronto and Toronto Port Lands Company as previously amended December 31, 2017, in substantially the form of the amending agreement annexed to this report, with such changes

Show the rest of As filed, 166 more characters as filed

or additional provisions that the Executive Director, Corporate Real Estate Management considers necessary or desirable, and in a form approved by the City Solicitor.

On the agenda

As the city filed it

The purpose of this report is to seek Council authority for the City to enter into an amending agreement (the "Amending Agreement") with the Toronto Port Lands Company ("TPLC") to amend the existing property management agreement (the "Property Management Agreement") entered into on January 4, 1995 as directed by Council, and subsequent extension agreement entered into on July 4, 2017 (the "2017 Extension Agreement"), renewing the Property Management Agreement for an additional five years.

Show the rest of As the city filed it, 1,121 more characters as filed

The Property Management Agreement authorizes Toronto Port Lands Company to manage certain properties designated as industrial development that the City had acquired from the Toronto Harbour Commissioners. The Amending Agreement extends the Property Management Agreement for an additional period of 20 years and reflects and confirms the extent of any real property interests of the City in the properties municipally known as 300 Commissioners Street and 11 and 11R Small Street. 300 Commissioners and 11 and 11R Small Street have been managed by Toronto Port Lands Company pursuant to the Property Management Agreement or otherwise at the direction of the City in accordance with the Property Management Agreement. The Amending Agreement also adds the property municipally known as 160 Commissioners Street, formerly part of the Lower Don Trail, which was maintained by the City. The Lower Don Trail will be moved to the west side of Don Roadway as part of the Port Lands Flood Protection work. CreateTO will lead the redevelopment of these and the adjoining lands as part of the McCleary District project in the future.

Staff recommended

The Executive Director, Corporate Real Estate Management recommends that: 1. City Council authorize the Executive Director, Corporate Real Estate Management to execute an amendment to the Property Management Agreement dated January 4, 1995 between the City of Toronto and Toronto Port Lands Company as previously amended December 31, 2017, in substantially the form of the amending agreement annexed to this report, with

Show the rest of Staff recommended, 179 more characters as filed

such changes or additional provisions that the Executive Director, Corporate Real Estate Management considers necessary or desirable, and in a form approved by the City Solicitor.

Considered

2023-10-02 · General Government Committee · adopted
Decision as filed
The General Government Committee recommends that: 1. City Council authorize the Executive Director, Corporate Real Estate Management to execute an amendment to the Property Management Agreement dated January 4, 1995 between the City of Toronto and Toronto Port Lands Company as previously amended December 31, 2017, in substantially the form of the amending agreement annexed to this report, with such changes or additional
Show the rest of Decision as filed, 152 more characters as filed
provisions that the Executive Director, Corporate Real Estate Management considers necessary or desirable, and in a form approved by the City Solicitor.
2023-10-11 · Toronto City Council · adopted

On the record

The item as the City filed it

More from this meeting

The whole meeting