Toronto Parking Authority
The full agenda, as filed
All 16 items in the clerk’s order. Each carries the city’s own words: the staff recommendation, what the body decided, and its status. Nothing below is written by us.
PA8.1received
Appointment of Public Members to the Board of Directors of Toronto Parking Authority
City Council, at its meeting held February 6, 7 and 8, 2024, considered Item CA12.3 , Appointment of Public Members to the Toronto Parking Authority, and appointed the following three members to the Toronto Parking Authority Board, at pleasure of Council, for a term of office starting February 9, 2024 and ending on February 7, 2028, and until successors are appointed: Hartley Lefton, as Chair Ruth Uy Namby Vithiananthan
The Board of Directors of the Toronto Parking Authority received the item for information.
PA8.2amended
Election of Vice Chair of the Toronto Parking Authority Board of Directors under Part H, Section 23 of the Toronto Parking Authority Board of Directors By-law 1-2021 for a term of office ending December 31, 2024, and until a successor is appointed.
The Board of Directors of the Toronto Parking Authority: 1. Elected Namby Vithiananthan as Vice Chair of the Board of Directors of the Toronto Parking Authority for a term of office ending December 31, 2024, and until a successor is appointed.
PA8.3amended
Appointment of Members to Audit and Risk Management Committee
In accordance with Section 2 of the Terms of Reference of the Toronto Parking Authority - Audit and Risk Management Committee, the Board will appoint members to the Committee and appoint a member of the Committee as Chair, for a term ending on March 26, 2025.
The Board of Directors of the Toronto Parking Authority: 1. Appointed Maureen Farrow, Zeshan Khan, and Namby Vithiananthan to the Audit and Risk Management Committee for a term ending on March 26, 2025. 2. Appointed Zeshan Khan as Chair of the Audit and Risk Management Committee for a term ending on March 26, 2025.
PA8.4adopted
Toronto Parking Authority - Financial Performance for the Year Ended December 31, 2023 (UNAUDITED)
Toronto Parking Authority's net income for the year ended December 31, 2023, was $38.1 million; +$12.6 million versus plan. Total parking and user revenue was $142.2 million; +$5.7 million versus plan as parking revenues reached 83.1 percent of pre-pandemic levels (2019). Total operating costs were $100.0 million; $1.1 million lower than plan driven by favourability on salaries and facility costs. Financing income was $4.6 million better than plan due to higher interest rates on the cash balance. Toronto Parking Authority capital spend was $59.1 million, 82.9 percent versus plan. Toronto Parking Authority led capital spend was $50.9 million, +11.8 percent versus plan and represents management's best capital performance in over 15 years. City-led capital spend was $8.2 million, 32 percent versus plan. Cash position exiting 2023 is $82.7 million. The 2023 Audited Financial statements will be presented at the April 2024 Audit Committee and May 2024 Board meetings.
The Board of Directors of the Toronto Parking Authority: 1. Received the report (February 26, 2024) from the President, Toronto Parking Authority for information.
Staff recommendation as filed
The President, Toronto Parking Authority, recommends that: 1. The Board of Directors of Toronto Parking Authority receive this report for information.
PA8.5amended
City of Toronto - Toronto Parking Authority: Net Income Share Agreement - Status Update
The purpose of this report is to provide the Board with an update about Toronto Parking Authority's Net Income Sharing Agreement with the City of Toronto, the actions Management is taking to maintain financial stability in the short-term and what changes will be required to Toronto Parking Authority's 2025 Operating and Capital Programs given the continued absence of a sustainable Agreement with the City. Toronto Parking Authority is a self-sustaining agency of the City of Toronto that fully funds its operations from the revenues it generates. In addition, Toronto Parking Authority also makes significant contributions to the City's general revenues through a 2017 Net Income Sharing Agreement with the City that requires Toronto Parking Authority to remit 85 percent of its net annual income to the City. Since 2002, Toronto Parking Authority has contributed more than $1.4 billion to the City of Toronto to fund other municipal services and programs, including public transit, housing and parks. Toronto Parking Authority is at a crossroads, caught between its past and present. Toronto Parking Authority's legacy Net Income Share Agreement expired in 2019 and does not recognize nor support Toronto Parking Authority's current mandate, which has been expanded to include both the operating and capital requirements for a rapidly growing Bike Share program, as well as the operation, maintenance, and continued expansion of Canada's largest municipally-owned electric vehicle (EV) charging program. The current Net Income Share Agreement also failed to anticipate the extensive backlog in state-of-good-repair (SOGR) in Toronto Parking Authority's parking garages, currently estimated to exceed $300 million over a ten (10) year period. Further capital pressures include the need to replace Toronto Parking Authority's 3,000+ Pay and Display machines, which are approaching their end-of-life. Lastly, the continued operation of Toronto Parking Authority's surface parking facilities remains at risk due to the City's housing program and other competing City-building objectives. At its meeting of February 29, 2024, Executive Committee received and debated 2024.EX12.4. This report included recommendations for City staff to undertake a review of all off-street, transit oriented, City-owned parking facilities that may support Council's housing, community or fiscal goals and better align municipal parking services to City and Provincial planning policies, and to report back to City Council with a list of priority sites, timelines and resource requirements for due diligence to determine 'parking-to-homes' and/or community infrastructure opportunities. This report will be considered by City Council at its meeting of March 20, 2024. The foregoing underscores the urgent need to secure a new Net Income Sharing Agreement with the City. Management has been engaged in discussions with Finance and Treasury Services for over 24 months with an expectation that a new Agreement would be reached as part of the 2024 Budget Cycle. At present, no resolution has been achieved. Given the absence of a new Agreement and to ensure that sufficient working capital is maintained for continued operations over the next two (2) years, Management has identified $14.1 million of planned capital investments in 2024 that will be deferred to future years. In 2023, Management prepared a comprehensive Enterprise Risk Management Strategy that details the Toronto Parking Authority's risk profile across a number of strategic measures including but not limited to governance, financial, cyber security, customer, talent, etc. Through this rigorous ranking process, the absence of a sustainable Net Income Sharing Agreement has been identified as the single biggest risk to the sustainability of the organization. Without a new Agreement being reached in the near-term, Management will be forced to make material cuts over and above the reductions described herein from Toronto Parking Authority's 2025 Operating and Capital programs.
The Board of Directors of the Toronto Parking Authority: 1. Requested the City Manager to request the Chief Financial Officer to provide an update on on-going discussions at the May 28, 2024 meeting of Board of Directors of the Toronto Parking Authority on the status of the Toronto Parking Authority's Net Income Sharing Agreement. 2. Directed that Confidential Attachment 1 and Confidential Attachment 1, Appendix A to the report (March 12, 2024) from the President, Toronto Parking Authority remain confidential in their entirety, as they pertain to a position, plan, procedure, criteria, or instruction to be applied to any negotiations carried on or to be carried on by or on behalf of the City or Toronto Parking Authority.
Staff recommendation as filed
The President, Toronto Parking Authority, recommends that: 1. The Board of Directors of Toronto Parking Authority receive this report for information. 2. The Board of Directors of Toronto Parking Authority direct that Confidential Attachment 1 remain confidential in its entirety, as it relates to a position, plan, procedure, criteria, or instruction to be applied to any negotiations carried on or to be carried on by or on behalf of the City or Toronto Parking Authority.
PA8.6received
Environmental, Social and Governance Project Overview
Prathmesh Raichura, Partner, KPMG will give a presentation on Environmental, Social and Governance Project Overview.
The Board of Directors of the Toronto Parking Authority received the item for information.
PA8.7amended
The cyber security landscape continues to evolve rapidly, with emerging threats posing significant risks to our organization. Cyber resiliency and intelligence are keys to success in helping to secure the Toronto Parking Authority against emerging threats. Toronto Parking Authority conducts independent audits on an ongoing basis to strengthen its cyber security practices and closely collaborates with the City of Toronto's Chief Information Security Office (CISO) to manage and mitigate identified risks. Cyberattacks are unauthorized attempts to gain access to a system and confidential data, modify it somehow, or delete or render information in the system unusable. These are some of the biggest threats facing organizations today. Our cyber security strategy remains focused on proactive threat detection, incident response readiness, and continuous improvement of security controls. This report contains a confidential attachment describing the threat landscape, cyber security initiatives and investments in technology. This summary report aims to provide the Board of Directors with a comprehensive overview of Toronto Parking Authority's cyber security status and outline actionable steps to strengthen its security posture. Gurvinder Gill, Chief Information Officer, will provide a presentation to the Toronto Parking Authority Board. These matters will require a closed-session discussion as they relate to the security of property belonging to the City or one of its agencies or corporations.
The Board of Directors of the Toronto Parking Authority: 1. Received the report (February 24, 2024) from the President, Toronto Parking Authority for information. 2. Directed that Confidential Attachment 1 and Confidential Attachment 1, Appendix A to the report (February 24, 2024) from the President, Toronto Parking Authority remain confidential in their entirety, as they pertain to the security of property belonging to the City or one of its agencies or corporations.
Staff recommendation as filed
The President, Toronto Parking Authority, recommends that: 1. The Board of Directors of Toronto Parking Authority receive this report for information. 2. The Board of Directors of Toronto Parking Authority directs that the confidential information contained in Confidential Attachment 1 remain confidential in its entirety, as it involves the security of property belonging to the City or one of its agencies or corporations.
PA8.8adopted
Contract Renewal for Credit/Debit Card Processing Services
The purpose of this report is to secure approval from the Board of Directors of Toronto Parking Authority to renew an agreement with Moneris Solution Corporation (Moneris) for Credit/Debit Card processing services for a period four (4) years on favorable terms and reduced rates for certain categories, particularly digital transactions. The Toronto Parking Authority has always provided its customers with choice, speed, and convenience. As a result, our customers have widely adopted digital payment methods as a primary source of transacting. This Board has previously authorized the President, Toronto Parking Authority, to enter into an agreement with Moneris for a term of three (3) years with an option, to be exercised at the sole discretion of the President, Toronto Parking Authority, to renew the agreement for four (4) further one (1) one-year terms. This longer-term four (4) year renewal will allow the Toronto Parking Authority to settle with rates far better than the current agreement particularly on Gateway (online) transactions and tokenization services, the volumes for which have significantly increased over the past few years.
The Board of Directors of the Toronto Parking Authority: 1. Authorized the President, Toronto Parking Authority, to amend the existing agreement with Moneris Solution Corporation for credit/debit card processing services and extend it by a term of four (4) years until February 29, 2028.
Staff recommendation as filed
The President, Toronto Parking Authority, recommends that: 1. The Board of Directors of Toronto Parking Authority grant authority to the President, Toronto Parking Authority, to amend the existing agreement with Moneris Solution Corporation and extend it by a term of four (4) years until February 29, 2028.
PA8.9adopted
Toronto Parking Authority operates an extensive inventory of off-street parking facilities that includes 40,000 spaces at over 300 locations. Toronto Parking Authority's 28 indoor parking garages (refer to Appendix A for a list of the garages) offer an opportunity to generate an additional revenue stream through the sale of Out-Of-Home (OOH) Advertising space. Statements Media Inc. (Statements Media) has held the Out-Of-Home advertising rights to Toronto Parking Authority's indoor garages since November 28, 2013, and has sold advertising space using a combination of junior posters (vinyl signs), backlit light boxes and garage takeover activations. In anticipation of Toronto Parking Authority's contract with Statements Media coming to an end, Toronto Parking Authority issued a Request for Proposals (RFP) on December 4, 2023, that invited proposals for both the sale of advertising space within Toronto Parking Authority-supplied sign infrastructure; and the installation of the sign infrastructure and sale of advertising space in vendor-supplied sign infrastructure. Based on a comprehensive review of the proposals received, Toronto Parking Authority is recommending that a contract be awarded to Statements Media on terms and conditions, as generally described in Confidential Attachment 1 to this report. Should Toronto Parking Authority Board of Directors adopt the recommendations of this report, Toronto Parking Authority will proceed to negotiate, enter into, and execute a contract with Statements Media.
The Board of Directors of the Toronto Parking Authority: 1. Authorized the President, Toronto Parking Authority, to negotiate, enter into, and execute a Sign Licence Agreement with Statements Media Inc. providing Out-Of-Home Advertising Services and Sales at Toronto Parking Authority's indoor parking garages in accordance with the terms and conditions as generally outlined in Confidential Attachment 1 to the report (March 12, 2024) from the President, Toronto Parking Authority and on such other terms and conditions or amended terms and conditions as may be acceptable to the President, Toronto Parking Authority, and in a form satisfactory to the City Solicitor. 2. Directed that Confidential Attachment 1 to the report (March 12, 2024) from the President, Toronto Parking Authority remain confidential in its entirety, as it relates to a position, plan, procedure, criteria, or instruction to be applied to any negotiations carried on or to be carried on by or on behalf of the City or Toronto Parking Authority.
Staff recommendation as filed
The President, Toronto Parking Authority, recommends that: 1. The Board of Directors of Toronto Parking Authority authorize the President, Toronto Parking Authority, to negotiate, enter into, and execute a Sign Licence Agreement with Statements Media Inc. providing Out-Of-Home Advertising Services and Sales at Toronto Parking Authority's indoor parking garages in accordance with the terms and conditions as generally outlined in Confidential Attachment 1 and on such other terms and conditions or amended terms and conditions as may be acceptable to the President, Toronto Parking Authority, and in a form satisfactory to the City Solicitor. 2. The Board of Directors of Toronto Parking Authority direct that Confidential Attachment 1 remain confidential in its entirety, as it relates to a position, plan, procedure, criteria, or instruction to be applied to any negotiations carried on or to be carried on by or on behalf of the City or Toronto Parking Authority.
PA8.10adopted
During the past two years and consistent with our strategy, Toronto Parking Authority has designed and built Canada's largest municipally-owned Electric Vehicle (EV) charging network with 407 charging ports at 80 locations. In 2024, Toronto Parking Authority Management will deploy an additional 38 chargers at four (4) car parks. The purpose of this report is two-fold. The first is to seek authority from Toronto Parking Authority Board of Directors to award a $1,270,000.00 contract to Precise ParkLink Inc., having submitted the lowest compliant bid, for the construction services required to complete the installation of 38 Electric Vehicle chargers across four (4) car parks in 2024. Secondly, as a prerequisite for the installation work by Precise ParkLink Inc., Toronto Parking Authority needs to carry out significant electrical upgrades to facilitate the installation and operation of electric vehicle charging infrastructure at the four (4) car parks, particularly surface car parks 53 and 82 located at 803 Richmond Street West and 9 Emerson Avenue respectively, where existing power supply is limited. Toronto Hydro-Electric System Limited (THESL) is the only authorized electric utility provider in Toronto capable of providing this crucial enabling work, and therefore, Toronto Parking Authority is requesting approval to issue a purchase order to Toronto Hydro-Electric System Limited in the amount of $800,000 to support the necessary electrical upgrades required for the development of these four locations.
The Board of Directors of the Toronto Parking Authority: 1. Authorized the President, Toronto Parking Authority, to award the Electric Vehicle Infrastructure Construction Contract for 2024-CON-VAR-D50.4 - Car Park 53 (803 Richmond Street West), Car Park 82 (9 Emerson Avenue), Car Park 11 (21 Pleasant Boulevard) and Car Park 26 (33 Queen Street East) to Precise ParkLink Inc., having submitted the lowest compliant bid and meeting all specifications in conformance with the Construction Tender requirements. 2. Authorized the President, Toronto Parking Authority, to issue a Purchase Order to Toronto Hydro Electrical Systems Limited in the amount of $800,000 excluding Harmonized Sales taxfor electrical upgrades required for the development of Toronto Parking Authority's off-street Electric Vehicle charging network in 2024.
Staff recommendation as filed
The President, Toronto Parking Authority, recommends that: 1. The Board of Directors of Toronto Parking Authority provide authority to the President, Toronto Parking Authority, to award the Electric Vehicle Infrastructure Construction Contract for 2024-CON-VAR-D50.4 - Car Park 53 (803 Richmond Street West), Car Park 82 (9 Emerson Avenue), CP 11 (21 Pleasant Blvd) and Car Park 26 (33 Queen Street East) be awarded to Precise ParkLink Inc., having submitted the lowest compliant bid and meeting all specifications in conformance with the Construction Tender requirements. 2. The Board of Directors of Toronto Parking Authority provide authority to the President, Toronto Parking Authority, to issue a Purchase Order to Toronto Hydro Electrical Systems Limited in the amount of $800,000 excluding HST for electrical upgrades required for the development of Toronto Parking Authority's off-street Electric Vehicle charging network in 2024.
PA8.11adopted
Contract Award - RFP 2024-07 (West End) and RFP 2024-08 (East End) Landscaping Maintenance Services
In our pursuit of our vision to become the world's best provider of sustainable parking, bike share, and last-mile mobility experiences, our management remains unwavering in its commitment to executing operational fundamentals with excellence each day. To maintain the natural environmental elements around our facilities, the Toronto Parking Authority (TPA) is seeking board approval to award two (2) landscaping maintenance service contracts that will be separated into east and west areas of the city. These contracts will address our landscaping needs including flower bed clean up, cultivation of flower beds, fertilizing, weekly maintenance, watering, and the planting of shrubs and trees at off-street parking facilities. On January 16, 2024, the Toronto Parking Authority issued two (2) Request for Proposals (RFP) to address the landscaping services in the west end and east end of the city. Five (5) compliant bids were received upon tender closing on February 05, 2024. Based on the submissions for both Request for Proposals, evaluations were completed of the compliant bids and compared against the ability to provide required services, bid price, and the conformance to tender requirements. As a result of the evaluations, Toronto Parking Authority is recommending that the contract of work for RFP 2024-07 (West End) Landscaping Maintenance Services be awarded to Forest Ridge Landscaping Inc. for $547,104.30 for 3 years excluding HST, plus applicable Consumer Price Index (CPI) increases for the two (2) optional, one (1) year extensions. Additionally, the contract of work for RFP 2024-08 (East End) Landscaping Maintenance Services be awarded to Forest Ridge Landscaping Inc. for $367,707.24 for 3 years excluding HST, plus applicable Consumer Price Index increases for the two (2) optional, one (1) year extensions. The Landscaping Maintenance Services are scheduled to start in April 2024 until November 2026 plus two (2) optional one (1) year contract extensions, at the sole discretion of the Toronto Parking Authority, based on performance and future needs. This award reflects a decrease in costs of approximately 1.2 percent from 2023 landscaping maintenance expenses while delivering Toronto Parking Authority service standards.
The Board of Directors of the Toronto Parking Authority: 1. Authorized the President, Toronto Parking Authority, to award the landscaping maintenance services contract for RFP 2024-07 (West End) to Forest Ridge Landscaping Inc. who having submitted the lowest compliant bid and meeting all specifications in conformance with the Request for Proposal requirements, in the amount of $547,104.30 excluding Harmonized Sales Tax, plus applicable Consumer Price Index increases for two (2) optional, one (1) year extensions. 2. Authorized the President, Toronto Parking Authority, to award the landscaping maintenance services contract for RFP 2024-08 (East End) to Forest Ridge Landscaping Inc. who having submitted the lowest compliant bid and meeting all specifications in conformance with the Request for Proposal requirements, in the amount of $367,707.24 excluding Harmonized Sales Tax, plus applicable Consumer Price Index increases for the two (2) optional one (1) year extensions.
Staff recommendation as filed
The President, Toronto Parking Authority recommends that: 1. The Board of Directors of Toronto Parking Authority provides authority to the President, Toronto Parking Authority, to award the landscaping maintenance services contract for RFP 2024-07 (West End) to Forest Ridge Landscaping Inc. who having submitted the lowest compliant bid and meeting all specifications in conformance with the Request for Proposal (RFP) requirements, in the amount of $547,104.30 excluding HST, plus applicable Consumer Price Index increases for two (2) optional, one (1) year extensions. 2. The Board of Directors of Toronto Parking Authority provides authority to the President, Toronto Parking Authority, to award the landscaping maintenance services contract for RFP 2024-08 (East End) to Forest Ridge Landscaping Inc. who having submitted the lowest compliant bid and meeting all specifications in conformance with the Request for Proposal (RFP) requirements, in the amount of $367,707.24 excluding HST, plus applicable Consumer Price Index increases for the two (2) optional one (1) year extensions.
PA8.12adopted
Contract Award - FM 2023-06 Monthly Fire and Life Safety Inspection Services
In pursuit of Toronto Parking Authority's vision to become the world's best provider of sustainable parking, bike share, and last-mile mobility experiences, management remains focused on elevating its performance against creating a more safe and secure experience for our customers and staff. The purpose of this paper is to secure Board approval to award a Monthly Fire and Life Safety Inspection Services Contract. This contract will cover the inspection of fire extinguishers, emergency lighting units, fire alarm systems, and sprinkler systems in our parking facilities. Ensuring the integrity of these systems is crucial to delivering not only our regulatory obligations but maintaining a safe and secure environment for everyone. On December 1, 2023, Toronto Parking Authority issued a Request for Proposal (RFP). After careful consideration of various factors such as bid compliance, pricing, ability to provide quality services, and adherence to tender specifications, we recommend that the Board of Directors, Toronto Parking Authority, authorize the President, Toronto Parking Authority, to award the two-year contract (with two option years) for FM 2023-06, Monthly Fire and Life Safety Inspection Services to Eurotech Safety Inc. for $1,449,651.50 excluding HST. The initial two-year contract will start in April 2024 and end in March 2026 with the option to extend the contract for another two years (2026-2027).
The Board of Directors of the Toronto Parking Authority: 1. Authorized the President, Toronto Parking Authority, to award the monthly fire and life safety inspection services contract for FM 2023-06 to Eurotech Safety Inc. who having submitted the only compliant bid and meeting all specifications in conformance with the Request for Proposal requirements, in the amount of $808,690.50 including contingency, plus $640,961.00 including contingency for two (2) optional one (1) year extensions. Bringing the total sum to $1,449,651.50 excluding Harmonized Sales Tax.
Staff recommendation as filed
The President, Toronto Parking Authority, recommends that: 1. The Board of Directors of Toronto Parking Authority authorize the President, Toronto Parking Authority, to award the monthly fire and life safety inspection services contract for FM 2023-06 to Eurotech Safety Inc. who having submitted the only compliant bid and meeting all specifications in conformance with the Request for Proposal (RFP) requirements, in the amount of $808,690.50 including contingency, plus $640,961.00 including contingency for two (2) optional one (1) year extensions. Bringing the total sum to $1,449,651.50 excluding HST.
PA8.13adopted
Parking Management Agreement Exhibition Place/Toronto Parking Authority
Toronto Parking Authority has been providing a range of parking management, equipment and revenue collection services to the Owner at ten (10) Exhibition Place car parks totaling 5,668 spaces, within the Exhibition Place grounds since 2016 (refer to Appendix A - Site Location Map). Management has worked with Exhibition Place to negotiate terms and conditions in principle that will extend the arrangement with Toronto Parking Authority for at least a further five (5) years through a consolidation of contracts. Should the recommendations of this report be adopted by the Board of Directors of Toronto Parking Authority, the Parking Management Agreement will extend the services provided by Toronto Parking Authority for Exhibition Place for a term of five (5) years with the option to extend for one (1) additional term of five (5) years. The new Parking Management Agreement will also consolidate the contractual arrangements between Toronto Parking Authority and Exhibition Place, which are currently split between the surface car parks (Car Parks 851 - 858) and the parking garage beneath the Enercare Facility (Car Park 850). More importantly, this new Agreement will reinforce both parties' desire to drive the productivity of the ten (10) car parks and provide a first-class customer experience through the introduction of new parking payment technologies.
The Board of Directors of the Toronto Parking Authority: 1. Authorized the President, Toronto Parking Authority, to negotiate, enter into and execute a Parking Management Agreement with Exhibition Place with respect to the ten (10) car parks listed in Appendix B to the report (March 12, 2024) from the President, Toronto Parking Authority, in accordance with the terms and conditions as generally outlined in Confidential Attachment 1 to the report (March 12, 2024) from the President, Toronto Parking Authority and on such other terms and conditions or amended terms and conditions as may be acceptable to the President, Toronto Parking Authority, and in a form satisfactory to the City Solicitor. 2. Directed that Confidential Attachment 1 to report (March 12, 2024) from the President, Toronto Parking Authority remain confidential in its entirety, as it relates to a position, plan, procedure, criteria, or instruction to be applied to any negotiations carried on or to be carried on by or on behalf of the City or Toronto Parking Authority.
Staff recommendation as filed
The President, Toronto Parking Authority, recommends that: 1. The Board of Directors of Toronto Parking Authority authorize the President, Toronto Parking Authority, to negotiate, enter into and execute a Parking Management Agreement with Exhibition Place with respect to the ten (10) car parks listed in Appendix B to this report, in accordance with the terms and conditions as generally outlined in Confidential Attachment 1 and on such other terms and conditions or amended terms and conditions as may be acceptable to the President, Toronto Parking Authority, and in a form satisfactory to the City Solicitor. 2. The Board of Directors of Toronto Parking Authority direct that Confidential Attachment 1 remain confidential in its entirety, as it relates to a position, plan, procedure, criteria, or instruction to be applied to any negotiations carried on or to be carried on by or on behalf of the City or Toronto Parking Authority.
PA8.14adopted
The purpose of this report is to provide a recommendation for the 2024 Corporate Goals and performance targets to be utilized in the Toronto Parking Authority's 2024 Short-Term Incentive Program (STIP). Toronto Parking Authority continues its journey towards becoming the world's premiere provider of sustainable parking, bike share and last-mile mobility experiences. The organization is focused on creating a performance-based culture that consistently delivers sustainable results for its staff, customers, and city stakeholders. This report provides a recommendation for the 2024 Corporate Goals, including specifics of the performance targets to be incorporated into the Short-Term Incentive Program for 2024.
The Board of Directors of the Toronto Parking Authority: 1. Approved the 2024 Corporate Goals and performance targets as indicated in the report (March 7, 2024) from the President, Toronto Parking Authority. 2. Directed the President, Toronto Parking Authority, to implement the 2024 Corporate Goals and performance targets for the Short-Term Incentive Plan as indicated in the report (March 7, 2024) from the President, Toronto Parking Authority.
Staff recommendation as filed
The President, Toronto Parking Authority recommends that: 1. The Board of Directors of Toronto Parking Authority, approve the 2024 Corporate Goals and performance targets as indicated in this report. 2. The Board of Directors of Toronto Parking Authority, direct the President, Toronto Parking Authority, to implement the 2024 Corporate Goals and performance targets for the Short-Term Incentive Plan as indicated in this report.
PA8.15adopted
Executive Compensation Policy Alignment with Guiding Principles
This report responds to City Council's request of City agencies and corporations to adopt or amend, as appropriate, their organization's executive compensation policy to align with the "Guiding Principles for the Development of Senior Executive Compensation Policies at City Agencies (Updated June 26, 2023)" from the City Manager and review the incorporation of TransformTO objectives into Executive performance goals. Toronto Parking Authority's executive compensation policy is grounded in five key principles: performance based, transparent, balanced stakeholder alignment, protects public interest, and attracts and retains top talent. The Executive Compensation Policy has been amended to align with the "Guiding Principles for the Development of Senior Executive Compensation Policies at City Agencies and Corporations (Updated June 2023)". The Executive Compensation Policy provides the framework to recognize and reward the Executive Team's performance by integrating a performance management system which links defined objectives (Specific, Measurable, Attainable, Relevant and Timebound) to execution of the Toronto Parking Authority's strategic priorities. Guided by Council's recent directive on integrating TransformTO into our compensation structure, Management has proactively launched work on an Environmental, Social and Governance (ESG) strategy that will be shared with the Board at its July 19, 2024 meeting. To align with the City's "Guiding Principles for the Development of Senior Executive Compensation Policies at City Agencies (Updated June 26, 2023)", this report seeks the Board's approval of the amended Executive Compensation Policy.
The Board of Directors of the Toronto Parking Authority: 1. Adopted Policy 4-31, Executive Compensation Policy, in Attachment 1 to the revised report (March 8, 2024) from the President, Toronto Parking Authority, which has been amended to align with the City of Toronto's "Guiding Principles for the Development of Senior Executive Compensation Policies at City Agencies and Corporations (Updated June 2023)". 2. Directed the President, Toronto Parking Authority, to apply Policy 4-31, Executive Compensation Policy, in Attachment 1 to the revised report (March 8, 2024) from the President, Toronto Parking Authority, to new executives hired and newly created executive positions. 3. Directed the President, Toronto Parking Authority, to provide Policy 4-31, Executive Compensation Policy, in Attachment 1 to the revised report (March 8, 2024) from the President, Toronto Parking Authority, to the City Manager.
Staff recommendation as filed
The President, Toronto Parking Authority, recommends that: 1. The Board of Directors of Toronto Parking Authority adopt Policy 4-31, Executive Compensation Policy, in Attachment 1 to this Report, which has been amended to align with the City of Toronto's "Guiding Principles for the Development of Senior Executive Compensation Policies at City Agencies and Corporations (Updated June 2023)". 2. The Board of Directors of Toronto Parking Authority direct the President, Toronto Parking Authority, to apply Policy 4-31, Executive Compensation Policy, in Attachment 1 to this Report, to new executives hired and newly created executive positions. 3. The Board of Directors of Toronto Parking Authority direct the President, Toronto Parking Authority, to provide Policy 4-31, Executive Compensation Policy, in Attachment 1 to this Report, to the City Manager.
PA8.16received
Distillery Winter Village - Waiving of Parking Fees
City Council on December 13, 14 and 15, 2023, adopted Item TE9.83 and, in so doing, has requested the Board of Directors of Toronto Parking Authority to waive any fees associated with the revenue loss from the Pay and Display Parking Machines, estimated at $44,100, as part of the 2023 Distillery Winter Village.
The Board of Directors of the Toronto Parking Authority received the item for information.