Authorization to Release Section 37 Funds from the Developments at 104-110 Bartley Drive and 1185 Eglinton Avenue East to Amend the 2024-2033 Capital Budget and Plan for Parks, Forestry and Recreation for Capital Projects in Ward 16 - by Councillor Jon Burnside, seconded by Councillor Lily Cheng

The second project is for Flemingdon Park Improvements with a project cost of $1,000,000 gross and $0 debt in 2024, with cash flow commitments of $80,000 in 2024 and $920,000 in 2025, fully funded by Section 37 funds obtained from the development at 1185 Eglinton Avenue East (Source Account: XR3026-3700863). The funds for both projects have been received and are eligible for these purposes. Staff resources to advance both projects are in place as a result of realignment of project priorities within the ward. Any incremental operating impacts associated with the improvements to Bartley Park and Flemingdon Park, if required, will be submitted for consideration through future budget submissions.

b. create a new capital sub-project known as Flemingdon Park Improvements in the Park Development project, with a project cost of $1,000,000 gross and $0 debt in 2024, with cash flow commitments of $80,000 in 2024 and $920,000 in 2025, fully funded by Section 37 funds obtained from the development at 1185 Eglinton Avenue East (Source Account: XR3026-3700863) to proceed with design and construction of park improvements.