Item - 2017.EX21.7

The Executive Committee received the report (January 4, 2017) from the Chief Planner and Executive Director, City Planning and the City Solicitor for information.

TOcore: Planning Downtown is an inter-divisional study led by City Planning. Building on Downtown's extensive planning framework, TOcore's purpose is to ensure growth positively contributes to Toronto's Downtown as a great place to live, work, learn, play and invest. The study will result in a new Secondary Plan for Downtown, a series of physical and social infrastructure strategies, and a financial strategy. Additional information including all background reports can be found on the study website, www.toronto.ca/tocore. This report discusses the following:

a. available planning and legislative mechanisms to manage growth including those available during the course of planning studies;

b. the feasibility of expediting the completion of TOcore; and

c. a description of the tools that will be considered as part of the TOcore financial strategy, the development of which will be co-led by Corporate Finance, Financial Planning and City Planning and will include stakeholder consultation.

At its November 15, 2016 meeting Toronto and East York Community Council (TEYCC) directed staff to bring forward this report to the January meeting of TEYCC. Given the future financial implications of the TOcore financial strategy, staff are providing this report to the Executive Committee.