Item - 2015.EX10.25

City Council on December 9 and 10, 2015, adopted the following:

Capital Budget:

1.  City Council approve the 2016 Recommended Capital Budget for the Toronto Parking Authority with a total project cost of $38.003 million, and 2016 cash flow of $69.269 million, with no future year commitments comprised of the following:

a.  New Cash Flow Funds for:

i.  33 new / change in scope sub-projects with a 2016 total project cost of $38.003 million that requires cash flow of $38.003 million in 2016; and

ii.  3 previously approved sub-projects with a 2016 cash flow of $14.042 million; and

b.  2015 approved cash flow for 22 previously approved sub-projects with carry forward funding from 2015 into 2016 totalling $17.224 million.

2.  City Council approve the 2017 - 2025 Recommended Capital Plan for the Toronto Parking Authority totalling $325.630 million in project estimates, comprised of $53.885 million in 2017; $27.457 million for 2018; $66.339 million for 2019; $33.568 million for 2020; $33.297 million for 2021; $31.127 million for 2022; $31.659 million for 2023; $27.692 million for 2024; and $20.606 million in 2025.

3.  City Council consider the operating savings of $2.603 million net in 2017; $2.430 million net in 2018; $1.312 million net in 2019; and $2.545 million net in 2020; $1.555 million net in 2021; $1.228 million net in 2022; $1.451 million net in 2023; $1.275 million in 2024; $1.813 million in 2025 resulting from the approval of the 2016 Recommended Capital Budget for inclusion in the 2016 and future year operating budgets.

4.  City Council direct that all sub-projects with third party financing be approved conditionally, subject to the receipt of such financing in 2016 and if such funding is not forthcoming, their priority and funding be reassessed by City Council relative to other City-financed priorities and needs.

Operating Budget:

5.  City Council approve the 2016 Recommended Operating Budget for Toronto Parking Authority of $84.743 million gross, ($52,245.8) million net for the following services:

6.  City Council approve the 2016 recommended service levels for the Toronto Parking Authority as outlined on pages 13, 16, and 18 of the 2016 Staff Recommended Operating Budget for Toronto Parking Authority, and associated staff complement of 302.4 positions.

7.  City Council approve the 2016 recommended maximum delegated market rate user fee change for Toronto Parking Authority identified in Appendix 7 to the Staff Recommended Operating Budget for Toronto Parking Authority, for inclusion in the Municipal Code Chapter 441 "Fees and Charges".

8.  City Council request the President, Toronto Parking Authority and the General Manager, Transportation Services to explore opportunities to increase On-Street parking spaces in the City of Toronto.

9.  City Council request the Deputy City Manager and Chief Financial Officer and the President, Toronto Parking Authority to report to Budget Committee on an updated Income Sharing Renewal Agreement no later than April 30, 2016, and that the existing Income Sharing Agreement with the Toronto Parking Authority which expires on December 31, 2015, be extended until such time as Council considers an updated Income Sharing Agreement.

10.  City Council direct the General Manager, Transportation Services, in consultation with the President, Toronto Parking Authority, to actively identify and take the necessary steps to implement new on-street paid parking opportunities where functionally safe and appropriate, and economically viable (for example locations where parking is not currently permitted, or free on-street parking is in effect) to supplement lost parking revenues and to improve service to local businesses by creating more short stay parking spaces in areas of need, and to report on the progress of this initiative to the Public Works and Infrastructure Committee by Fall 2016, prior to the 2017 Budget process.

11.  City Council direct the Chief Planner and Executive Director, City Planning, in consultation with the President, Toronto Parking Authority, to report to the Planning and Growth Management Committee in the first quarter of 2016, on the introduction of technical amendments to the Zoning By-law, for the purpose of refining the dimensional specifications for parking spaces required in connection with development projects, in a manner which will accommodate and facilitate the Toronto Parking Authority's potential participation and operation of public parking garages, to supplement lost parking revenue and to improve service to local businesses.