Contract Award - 5058-41 Garage Restoration at 9 Bedford Road (Car Park 58)

Pre-pandemic (2019) gross revenues were $2.8 Million, and it is consistently amongst our top five performers. October year-to-date revenues are $1.85 Million or 67percent of 2019 levels. Although Car Park 58 is one of our top-producing facilities, the current state of good repair has fallen below minimum acceptable standards. Many elements of Car Park 58 exceed their service life. These deficiencies require immediate remediation, as any delay will adversely impact other aspects of the facility (example sub-structure, etc.) Read Christofferson Jones (RJC) was retained by Toronto Parking Authority in July 2021 to perform a condition assessment of the car park, and then undertake design services. RJC's condition assessment notes that the garage is generally in poor condition with local sections of the structure exhibiting signs of distress and corrosion-related deterioration. In addition, the waterproofing systems are at the end-of-service life and should be replaced as soon as possible to limit further concrete deterioration. After a review of the condition assessment, Toronto Parking Authority directed RJC to proceed with the design to complete concrete repairs, wholesale waterproofing and asphalt, drain and sprinkler replacement and conversion to LED lighting These repairs are scheduled to start February 2023. The Request for Tender package for the Garage Restoration package (example concrete repairs) was issued for tender on October 14th, 2022, with eight (8) bids received upon tender close on November 14th, 2022. Based on the submission of a compliant bid, the bid price, ability to complete the work in the prescribed time and the conformance to tender requirements, Management is recommending that the contract of work for 5058-41 Garage Restoration at 9 Bedford Road (Car Park 58) be awarded to Complete Concrete Restoration Ltd.

Tender requirements, in the amount of $5,876,500 plus $823,500 as a contingency allowance, being the sum total amount of $6,700,000 excluding Harmonized Sales Tax.