CreateTO
The full agenda, as filed
All 6 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.
RA20.1adopted
The Vice President, Development, CreateTO will provide a verbal update on progress that has been made on the Housing Now Initiative since the previous Board meeting.
The Board of Directors of CreateTO: 1. Received the report (December 21, 2020) from the Vice President Development, CreateTO for information.
Staff recommendation as filed
The Vice President, Development, CreateTO recommends that: 1. The Board of Directors of CreateTO receive this report for information.
RA20.2adopted
Modular Housing Progress Update
The Senior Vice President, Development, CreateTO and the Manager, Development, CreateTO will provide a verbal update on progress that has been made on the Modular Housing initiative since the last update to the Board.
The Board of Directors of CreateTO: 1. Received the report (December 21, 2020) from the Senior Vice President, Development, CreateTO for information.
Staff recommendation as filed
The Senior Vice President, Development, CreateTO recommends that: 1. The Board of Directors of CreateTO receive this report for information.
RA20.3adopted
The Vice President, Stakeholder and Client Relationship Management, CreateTO will provide a verbal update on progress that has been made with respect to the Master Planning of 260 Adelaide Street West and 229 Richmond Street West since the previous Board meeting.
The Board of Directors of CreateTO: 1. Received the report (December 22, 2020) from the Vice President, Stakeholder and Client Relationship Management, CreateTO for information.
Staff recommendation as filed
The Vice President, Stakeholder and Client Relationship Management, CreateTO recommends that: 1. The Board of Directors of CreateTO receive this report for information.
RA20.4received
2021 Schedule of Board of Directors of CreateTO Meetings
In accordance with By-law 1-2018 to Govern the proceedings of the Board of Directors of CreateTO, regular meetings of the Board are determined by the Board and a schedule of those meetings shall be publicly available by the first meeting of the Board in each calendar year. City Council on November 25 and 26, 2020 approved the 2021 schedule of meetings for City Council and its Committees. The schedule of meetings for CreateTO has been developed to avoid dates, whenever possible, that conflict with the approved City Council schedule; and to avoid meetings on days of cultural or religious significance. The following meetings of the Board of Directors of CreateTO have been scheduled for the remainder of 2021: Monday, March 8 at 9:30 a.m. Tuesday, May 11 at 9:30 a.m. Wednesday, July 7 at 9:30 a.m. Monday, September 13 at 1:30 p.m. Tuesday, November 2 at 9:30 a.m. Friday, December 10 at 9:30 a.m.
The Board of Directors of CreateTO received the item for information.
RA20.5adopted
Update on Position of Chief Executive Officer, CreateTO
Further to the recommendations approved by the Board of Directors of CreateTO on October 9, 2020 pursuant to RA17.7, a request for proposals for an executive search consultant to assist with the recruitment of a Chief Executive Officer for CreateTO will be issued on January 6, 2021. I will provide a verbal update on the recruitment process at the January 11, 2021 meeting of the Board.
The Board of Directors of CreateTO: 1. Received the letter (December 24, 2020) from the Chair, CreateTO for information.
Staff recommendation as filed
The Chair, CreateTO recommends that: 1. The Board of Directors of CreateTO receive this letter for information.
RA20.6amended
Proposed Long Term Land Lease - City Owned Property at 11 Bay Street
The purpose of this report is to seek comments from the Board of CreateTO on the proposed lease terms negotiated between staff of CreateTO and QuadReal Property Group Limited Partnership ("QuadReal") and Barney River Investments Limited ("Barney River"), the managers acting on behalf for the tenant, in connection with a proposed long-term lease renewal/new lease agreement ("Lease Extension") to permit redevelopment of the City-owned property at 11 Bay Street (the "Subject Property"). QuadReal and Barney River have proposed a complete redevelopment of the Subject Property which will result in a new office tower and rebuilt convention centre at grade. The current term of the existing ground lease between the City of Toronto, as landlord ("City") and SCG Aquarius Toronto Hotel, Inc., as tenant and SCG Aquarius Toronto Hotel, Inc., in its capacity as General Partner for SWA Toronto L.P., as beneficial tenant (collectively the "Tenant") for 11 Bay Street expires on May 31, 2030, with the option of two subsequent 5 year renewal terms. These options may be exercised by the Tenant in accordance with the terms of the ground lease, but the City has retained the absolute discretion on whether or not to grant the renewal options. At the end of the lease term, the Tenant is required to surrender the Subject Property and all buildings and improvements thereon to the City. As part of this proposed Lease Extension, CreateTO has been working with the City's Parks, Forestry and Recreation, Community Planning and Economic Development divisions to understand the opportunities that exist within this proposal for the Subject Property itself, and within the broader public realm in the Central Waterfront. Along with a new office tower and rebuilt convention centre, there is an opportunity to leverage this City owned asset to partially fund significant public realm improvements in the Central Waterfront area, along with negotiating into the lease agreement, obligations for design excellence, sustainability and connectivity along with ground level activation. CreateTO and Community Planning have identified this redevelopment of the Subject Property as an excellent candidate to help advance the Mayor and Council's Urban Design Initiative.
The Board of Directors of CreateTO: 1. Directed the Interim Chief Executive Officer to report back to the next meeting of the CreateTO Board with a revised report that reflects any changes required as a result of the input of the Board from this meeting and consult with the City Manager in order to provide direction from the City of Toronto to CreateTO with respect to City priorities and strategic initiatives in the area of the proposed development at 11 Bay Street. 2. Authorized the public release of the information in Confidential Attachment 1 to the report (December 23, 2020) from the Interim Chief Executive Officer, Create TO, when and if a finalized lease extension or notice of the lease extension is registered on title, and at the discretion of the Chief Executive Officer.
Staff recommendation as filed
The Interim Chief Executive Officer, CreateTO recommends that: 1. The Board of Directors of CreateTO direct the Interim Chief Executive Officer to report back to the next meeting of the CreateTO Board with a revised report that reflects any changes required as a result of the input of the Board from this meeting. 2. The Board of Directors of CreateTO authorize the public release of the information in Confidential Attachment 1, when and if a finalized lease extension or notice of the lease extension is registered on title, and at the discretion of the Chief Executive Officer.