Parking Solution - Ontario Place / Exhibition Place Foundational Principles

Specifically, the Term Sheet clarifies that for the Ontario Place Rebuilding project, the City accepts that the Province has the authority to advance all project approvals and intends to assume ownership of identified City-owned properties necessary to enable site access and servicing for the rebuilding project, and appropriately compensate the City for these lands. As part of the acknowledgement, the Province agreed to change its current planned location for parking at the Ontario Place site, and work with the City to establish an alternative parking solution at Exhibition Place that will improve public access to the shoreline at Ontario Place and could reduce the overall area needed for parking. In light of the commitment, a technical table (The Ontario Place Parking Solution Technical Table) with representation from the Ministry of Infrastructure, Infrastructure Ontario, City of Toronto, and Exhibition Place has been established to advance discussions on the parking solution options for Ontario Place at Exhibition Place. This report seeks Board approval for the Foundational Principles as a discussion framework and requests the Board's authority for staff to negotiate with the Province and City on the development of options for a parking solution at Exhibition Place, guided by the Foundational Principles.