CreateTO
The full agenda, as filed
All 7 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.
RA3.1amended
Election of Vice Chair - Board of Directors of CreateTO
Election of the Vice Chair of the Board of Directors of CreateTO under Part H, Section 22, of the Board of Directors of CreateTO By-law No. 1-2018 for a term of office ending December 31, 2020, and until a successor is appointed.
The Board of Directors of CreateTO: 1. Elected Ron Carinci as Vice Chair of the Board of Directors of CreateTO for a term of office starting February 15, 2019 and ending December 31, 2020, and until a successor is appointed.
RA3.2received
Introduction of CreateTO's New Chief Executive Officer
The Chair of the Board will provide an introduction of the newly appointed Chief Executive Officer of CreateTO, Brian Johnston.
The Board of Directors of CreateTO received the item for information.
RA3.3adopted
On January 31, 2019, City Council approved a signature affordable housing initiative, "Housing Now," to leverage City-owned land for the purpose of creating new mixed-use, mixed-income communities. Through the initiative, 11 properties were identified for development, which are expected to result in a total of 10,000 new residential units. City Council set development targets for these properties of at least one-third affordable rental, one-third market rental, and no more than one-third ownership housing. In order to implement the Housing Now, CreateTO will be working in collaboration with City partners to undertake and complete due diligence analysis, concept plans, public engagement, necessary planning approvals, and, pending Board and executive approval, a market offering process for the 11 properties. A City-wide working team has been established to coordinate Housing Now including the Director, Affordable Housing Office, CreateTO, City Planning, Real Estate Services and, once established, a new Housing Secretariat responsible for overseeing all aspects of the initiative. Don Logie, Senior Vice-President, Development has been designated as the CreateTO lead for the initiative. City and CreateTO staff will report to the CreateTO Board of Directors on business cases and the proposed offering process prior to bringing the properties to the market and terms of the proposed sale/lease agreements with the successful proponent(s) (refer to the Organizational Structure Diagram included as Attachment 1 to this report). The expectation is to complete due diligence, rezoning and bring the first four properties to market by the end of 2019, with the remaining properties to follow in 2020 and 2021.
The Board of Directors of CreateTO received the report (February 7, 2019) from the Senior Vice President, Development, CreateTO for information.
Staff recommendation as filed
The Senior Vice President, Development recommends that the Board of Directors receive this report for information.
RA3.4adopted
CreateTO 2019 Budget Submission Update
The purpose of this report is to inform the CreateTO Board of Directors of adjustments made to the CreateTO 2019 Board recommended budget. On December 10, 2018, the CreateTO Board of Directors recommended that the 2019 CreateTO Budget be forwarded to City Council for approval. The City of Toronto's budget process includes a review and potential adjustments by senior leadership before submission to Council for approval. After review and discussion with CreateTO's Chief Financial Officer, adjustments were made to the 2019 Budget submission. These adjustments were primarily made to flow through positions to ensure that costs and Full Time Employee's (FTE) were not being double counted in the City's aggregated budget rollup. These flow through positions will be managed during 2019 in the form of budget transfers or in-year adjustments, posing minimum impact to CreateTO operations in 2019.
The Board of Directors of CreateTO received the report (January 31, 2019) from the Chief Financial Officer, CreateTO for information.
Staff recommendation as filed
The Chief Financial Officer recommends that the CreateTO Board of Directors receive this report for information.
RA3.5adopted
Financial and Signing Authorities - Revised
The purpose of this report is to recommend for approval an amendment in financial signing authority for CreateTO, as per Attachment 1 due to certain management changes at CreateTO.
The Board of Directors of CreateTO: 1. Approved the amended financial signing authority, as set out in Attachment 1 to the report (February 6, 2019) from the Chief Financial Officer, CreateTO.
Staff recommendation as filed
The Chief Financial Officer, CreateTO recommends that the Board of Directors of CreateTO approve the amended financial signing authority, as set out in Attachment 1.
RA3.6adopted
Proposed 2019 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 December 4, 5 and 13, 2018 approved the 2019 schedule of meetings for City Council and its Committees. The proposed 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 Board of Directors of CreateTO: 1. Approved the following meeting dates for 2019: Monday, May 13, 2019 - 1:30 p.m. Tuesday, July 9, 2019 - 9:30 a.m. Tuesday, September 24, 2019 - 9:30 a.m. Monday, November 25, 2019 - 1:30 p.m.
Staff recommendation as filed
That the Board of Directors of CreateTO approve the following meeting dates for 2019: Monday, May 13, 2019 - 1:30 p.m. Tuesday, July 9, 2019 - 9:30 a.m. Tuesday, September 24, 2019 - 9:30 a.m. Monday, November 25, 2019 - 1:30 p.m.
RA3.7received
Presentation on Portfolio Strategy for CreateTO
I recommend that the Board of Directors of CreateTO, at its February 15, 2019 meeting, hear a presentation from Brian Johnston, Chief Executive Officer, CreateTO, on the City-wide Real Estate Portfolio Strategy tracking to City Council in May 2019.
The Board of Directors of CreateTO received the item for information.