Item - 2017.EX26.13

The Executive Committee recommends that:

1.  City Council treat that portion of the City Council meeting at which this report is considered as the Annual General Meeting of the Shareholder for Toronto Port Lands Company by:

a.  appointing Pricewaterhouse Coopers LLP, Chartered Accountants, as the Auditor of Toronto Port Lands Company for fiscal year 2017, and authorizing the Board of Directors of Toronto Port Lands Company to fix the Auditor's remuneration; and

b.  receiving the "Toronto Port Lands Company (TPLC), Annual Report 2016: Achievements and Results since 1986 (which includes Consolidated Financial Statements December 31, 2016)", forming Attachment 1 to the report (June 2, 2017) from the City Manager and the Deputy City Manager and Chief Financial Officer.

2.  City Council receive the information concerning "Toronto Port Lands Company: Executive Compensation Disclosure for 2016", forming Attachment 2 to the report (June 2, 2017) from the City Manager and the Deputy City Manager and Chief Financial Officer.

3.  City Council direct the City Clerk to forward a copy of "Toronto Port Lands Company (TPLC), Annual Report 2016: Achievements and Results since 1986 (which includes Consolidated Financial Statements December 31, 2016)", forming Attachment 1 to the report (June 2, 2017) from the City Manager and the Deputy City Manager and Chief Financial Officer, to the Audit Committee for information.

This report contains recommendations for the actions necessary to comply with the requirements of the Business Corporations Act (Ontario) for holding the Annual General Meeting of the Shareholder of City of Toronto Economic Development Corporation (TEDCO) operating as Toronto Port Lands Company (TPLC), including receipt of its Annual Report for 2016 and audited Consolidated Financial Statements dated December 31, 2016, and appointment of the Auditor for 2017.

This report also contains recommendations for the receipt of information disclosing the individual compensation of executive officers employed by Toronto Port Lands Company in 2016.