Direct Investment Request 2024 Number 4

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

2024-11-21 · Toronto Atmospheric Fund · adopted

As filed

The Board of Directors of the Toronto Atmospheric Fund: 1. Approved an investment of up to $500,000 in Limited Partnership (LP) Units into the Fund, subject to the terms and conditions outlined by the Direct Investment Committee and set out in the Confidential Attachment 1 to the report (November 6, 2024) from the Vice President, Impact Investing, Toronto Atmospheric Fund. 2. Directed the Vice President, Impact Investing to implement the investment subject to the satisfaction of the Toronto Atmospheric Fund's solicitor.

Show the rest of As filed, 553 more characters as filed

3. Directed that the confidential information contained in Confiden tial Attachment 1 to the report (November 6, 2024) from the Vice President, Impact In vesting, Toronto Atmospheric Fund remain confidential in its entirety, as it contains commercial and financial information, supplied in confidence to the Toronto Atmospheric Fund, which, if disclosed, could reasonably be expected to significantly prejudice the competitive position or interfere significantly with the contractual or other negotiations of a person, group of persons, or organization.

On the agenda

As the city filed it

The Direct Investment Committee (DC) recommends an investment of up to $500,000 into a sustainable property technology (PropTech) fund (referred to here as 'the Fund'). The Fund makes direct equity investments into early-stage sustainable PropTech companies aligned with the Toronto Atmospheric Fund's net-zero construction and retrofit focus areas.

Staff recommended

The Vice President, Impact Investing recommends that the Board of Directors of the Toronto Atmospheric Fund: 1. Approve an investment of up to $500,000 in Limited Partnership (LP) Units into the Fund, subject to the terms and conditions outlined by the Direct Investment Committee and set out in the Confidential Attachment 1. 2. Direct the Vice President, Impact Investing to implement the investment subject to the satisfaction of TAF's solicitor.

Show the rest of Staff recommended, 448 more characters as filed

3. Direct that the confidential information contained in Confidential Attachment 1 remain confidential in its entirety, as it contains commercial and financial information, supplied in confidence to the Toronto Atmospheric Fund, which, if disclosed, could reasonably be expected to significantly prejudice the competitive position or interfere significantly with the contractual or other negotiations of a person, group of persons, or organization.

On the record

The item as the City filed it

More from this meeting

The whole meeting