Item - 2007.CD6.17

Tracking Status

This item will be considered by Community Development and Recreation Committee on June 5, 2007.

CD6.17 - Interest-Free Loan for Thorncliffe Park Day Care

Consideration Type:: ACTION

Origin

(June 4, 2007) Report from General Manager, Children's Services

Recommendations

The General Manager, Children’s Service recommends that:

1. Approval be granted to provide an interest-free repayable loan to Thorncliffe Park Day Care, through the Toronto District School Board, of up to $150.000.00 from the Child Care Capital Reserve for the purchase of a portable to house the school-age program at Thorncliffe Park Elementary School;

2. Authority be granted to the General Manager, Children’s Services to negotiate the agreement and execute it on behalf of the City and that the agreement have terms that are satisfactory to the General Manager and be in a form acceptable to the City Solicitor; and

3. Funds of up to $150,000.00 be drawn from the Child Care Capital Reserve for this purpose.

Summary

This report recommends that the City of Toronto provide an interest-free loan from the Child Care Capital Reserve Fund of up to $150,000.00 to Thorncliffe Park Day Care. The loan is required for the purchase of a portable to house the school age program at Thorncliffe Park Elementary School.

Thorncliffe Park Day Care is located in a leased space in the Jenner Jean-Marie Community Centre. This community centre will be undergoing renovation under a joint capital project with Children’s Services, Parks, Forestry and Recreation and Toronto Public Library. The construction on this facility will displace the Thorncliffe Park Day Care in early July 2007. The preschool children will be accommodated in portable facilities at the site. The school age children will be accommodated in the Thorncliffe Elementary School for the summer but will need a permanent facility by September 2007.

Financial Impact

The recommendation contained in this report proposes an interest-free repayable loan to Thorncliffe Park Day Care of up to $150,000 from the Child Care Capital Reserve Fund for the purchase of a portable to house the school age program at Thorncliffe Park Elementary School. The loan would be recovered through child care per diem payments. The Thorncliffe Park Day Care will

The Deputy City Manager and Chief Financial Officer has reviewed this report and agrees with the financial impact information.

Background Information

(June 4, 2007) Report from General Manager, Children's Services - Interest-Free Loan for Thorncliffe Park Day Care
https://www.toronto.ca/legdocs/mmis/2007/cd/bgrd/backgroundfile-4442.pdf