Artscape Receivership - Next Steps - by Deputy Mayor Ausma Malik, seconded by Councillor Gord Perks

The City worked closely with Artscape to develop comprehensive transition plans for its 14 properties ahead of the receivership, and successfully advocated for the vast majority of Artscape's properties to be excluded from the scope of the receivership. Just 38 tenants, or 9 percent of Artscape's former tenants, are located at properties subject to the receivership. One of the properties subject to the receivership is Youngplace, a former public school located at 180 Shaw Street, which was purchased by Artscape in 2010 and redeveloped as a community cultural hub, opening in 2013. Youngplace is structured as a commercial condominium, with most occupants owning their units directly. Artscape was hired by the condominium corporation (TSCC 2397) to maintain the property, and ensure the community vision for Youngplace as a vibrant cultural hub was upheld in its operations. Artscape owned and rented 13 of the commercial condominium units at Youngplace to non-profit arts organizations and to a childcare space at below-market rates. Artscape also owned two other units in the building, which were used as a café and as a common area. These 15 units have been included in the scope of the receivership. In late June, the units were placed for sale by the Receiver on the Multiple Listing Service. This motion requests further direction from Council to related to the receivership proceedings. This motion is urgent as it relates to ongoing litigation related to the receivership process for which action is required before the next meeting of City Council.

City Council direct that all other information contained in Confidential Attachment 1 to this motion is to remain confidential at the discretion of the City Solicitor, as it relates to litigation which affects the City.