Authorizing the Wastewater Energy Project at Exhibition Place - by Deputy Mayor Ausma Malik, seconded by Mayor Olivia Chow

Pursuant to City of Toronto Municipal Code Chapter 63-6F, Exhibition Place requires City Council authority for any agreement with a third party related to the provision of services in excess of four years. Pursuant to Municipal Code Chapter 195 Procurement, Section 195-7.3 (D), Standing Committee and Council approval is required for all procurement valued up to or over $500,000, or where the term of the contract exceeds five (5) years or exceeds the projected capital funding for the project as approved by Council. Chapter 195-7.1K provides an exemption to the requirement to conduct competitive procurements where there is "Another organization is funding, or substantially funding, the procurement and the City has determined that the supplier and the terms and conditions of the proposed contract are beneficial to the City." The term of 30 years is necessary due to the significant upfront capital, long payback periods, long equipment and infrastructure lifespans and the proprietary nature of equipment and maintenance procedures for specialized equipment and operations. Should the engagement proceed, Noventa, at their own risk, will design, finance, construct, own, and operate the energy system with substantial funding from the Canadian Infrastructure Bank constituting a significant benefit to Exhibition Place and the City of Toronto. This motion is urgent as the deadline for the City to complete a Thermal Energy Services Agreement for the project to receive Canadian Infrastructure Bank funding is April 28, 2025.

2026, with an anticipated spend of eighty-two (82) million dollars over the course of the term, on terms and conditions satisfactory to the Exhibition Place Board of Directors, and in a form satisfactory to the City Solicitor.