Item - 2017.EX26.6
Tracking Status
- City Council adopted this item on July 4, 2017 with amendments.
- This item was considered by the Executive Committee on June 19, 2017 and adopted without amendment. It will be considered by City Council on July 4, 2017.
EX26.6 - Build Toronto - Annual General Meeting and 2016 Audited Financial Statements
- Decision Type:
- ACTION
- Status:
- Amended
- Wards:
- All
City Council Decision
City Council on July 4, 5, 6 and 7, 2017, adopted the following:
1. City Council treat the portion of the City Council meeting at which the report (May 31, 2017) from the City Manager and the Deputy City Manager and Chief Financial Officer is considered as the Annual General Meeting of the Shareholder for Build Toronto by:
a. appointing Pricewaterhouse Coopers LLP, Chartered Accountants as the Auditor for Build Toronto for the fiscal year 2017, and authorizing the Board of Directors of Build Toronto to fix the remuneration of the Auditor;
b. receiving the Build Toronto 2016 Annual Review forming Attachment 1 to the report (May 31, 2017) from the City Manager and the Deputy City Manager and Chief Financial Officer;
c. receiving the Build Toronto Financial Report to the Shareholder (which contains its 2016 audited consolidated financial statements), forming Attachment 2 to the report (May 31, 2017) from the City Manager and the Deputy City Manager and Chief Financial Officer;
d. receiving the Build Toronto Incorporated 2016 Compensation Disclosure and Analysis forming Attachment 3 to the report (May 31, 2017) from the City Manager and the Deputy City Manager and Chief Financial Officer; and
e. receiving Build Toronto's 2016 Value Add Report to the Shareholder, forming Attachment 4 to the report (May 31, 2017) from the City Manager and the Deputy City Manager and Chief Financial Officer.
2. City Council direct the City Clerk to forward the Build Toronto Financial Report to the Shareholder, forming Attachment 2 to the report (May 31, 2017) from the City Manager and the Deputy City Manager and Chief Financial Officer, to the Audit Committee for information.
Background Information (Committee)
https://www.toronto.ca/legdocs/mmis/2017/ex/bgrd/backgroundfile-104796.pdf
Attachment 1 - Build Toronto 2016 Annual Review
https://www.toronto.ca/legdocs/mmis/2017/ex/bgrd/backgroundfile-104797.pdf
Attachment 2 - Build Toronto Financial Report to the Shareholder and 2016 Consolidated Audited Financial Statements
https://www.toronto.ca/legdocs/mmis/2017/ex/bgrd/backgroundfile-104798.pdf
Attachment 3 - Build Toronto Incorporated 2016 Compensation Disclosure and Analysis
https://www.toronto.ca/legdocs/mmis/2017/ex/bgrd/backgroundfile-104799.pdf
Attachment 4 - Build Toronto's 2016 Value Add Report to the Shareholder
https://www.toronto.ca/legdocs/mmis/2017/ex/bgrd/backgroundfile-104800.pdf
Motions (City Council)
That City Council amend Executive Committee Recommendation 1a by deleting the words "Lakeshore Arena Corporation" and adding the words "Build Toronto" so that Recommendation 1a now reads as follows:
1. City Council treat the portion of the City Council meeting at which this report is considered as the Annual General Meeting of the Shareholder for Build Toronto by:
a. appointing Pricewaterhouse Coopers LLP, Chartered Accountants as the Auditor for Build Toronto for the fiscal year 2017, and authorizing the Board of Directors of Lakeshore Arena Corporation Build Toronto to fix the remuneration of the Auditor.
Vote (Amend Item) Jul-04-2017 2:13 PM
| Result: Carried | Majority Required - EX26.6 - Lee - motion 1 |
|---|---|
| Total members that voted Yes: 32 | Members that voted Yes are Paul Ainslie, Maria Augimeri, Ana Bailão, John Campbell, Josh Colle, Gary Crawford, Joe Cressy, Janet Davis, Glenn De Baeremaeker, Justin J. Di Ciano, Frank Di Giorgio, Sarah Doucette, John Filion, Michael Ford, Mary Fragedakis, Mark Grimes, Stephen Holyday, Norman Kelly, Chin Lee, Giorgio Mammoliti, Josh Matlow, Mary-Margaret McMahon, Joe Mihevc, Denzil Minnan-Wong, Frances Nunziata (Chair), Cesar Palacio, James Pasternak, Gord Perks, Jaye Robinson, Neethan Shan, Michael Thompson, John Tory |
| Total members that voted No: 0 | Members that voted No are |
| Total members that were Absent: 13 | Members that were absent are Jon Burnside, Christin Carmichael Greb, Shelley Carroll, Vincent Crisanti, Paula Fletcher, Jim Hart, Michelle Holland, Jim Karygiannis, Mike Layton, Pam McConnell, Anthony Perruzza, David Shiner, Kristyn Wong-Tam |
EX26.6 - Build Toronto - Annual General Meeting and 2016 Audited Financial Statements
- Decision Type:
- ACTION
- Status:
- Adopted
- Wards:
- All
Committee Recommendations
The Executive Committee recommends that:
1. City Council treat the portion of the City Council meeting at which this report is considered as the Annual General Meeting of the Shareholder for Build Toronto by:
a. appointing Pricewaterhouse Coopers LLP, Chartered Accountants as the Auditor for Build Toronto for the fiscal year 2017, and authorizing the Board of Directors of Lakeshore Arena Corporation to fix the remuneration of the Auditor;
b. receiving the Build Toronto 2016 Annual Review forming Attachment 1 to the report (May 31, 2017) from the City Manager and the Deputy City Manager and Chief Financial Officer;
c. receiving the Build Toronto Financial Report to the Shareholder (which contains its 2016 audited consolidated financial statements), forming Attachment 2 to the report (May 31, 2017) from the City Manager and the Deputy City Manager and Chief Financial Officer;
d. receiving the Build Toronto Incorporated 2016 Compensation Disclosure and Analysis forming Attachment 3 to the report (May 31, 2017) from the City Manager and the Deputy City Manager and Chief Financial Officer; and
e. Receiving Build Toronto's 2016 Value Add Report to the Shareholder, forming Attachment 4 to this report.
2. City Council direct the City Clerk to forward the Build Toronto Financial Report to the Shareholder, forming Attachment 2 to the report (May 31, 2017) from the City Manager and the Deputy City Manager and Chief Financial Officer, to the Audit Committee for information.
Origin
Summary
This report recommends the actions necessary to comply with the requirements of the Business Corporations Act (Ontario) for the holding of the Annual General Meeting of the Shareholder of Build Toronto Inc. (Build Toronto), including receipt of its 2016 Annual Review and audited Consolidated Financial Statements for December 31, 2016, and appointment of the auditor for 2017.
This report also contains recommendations for receipt at the Annual General Meeting of the Shareholder of information disclosing the individual compensation of executive officers employed by Build Toronto in 2016, and Build Toronto actions to add value to transferred properties to date.
Background Information
https://www.toronto.ca/legdocs/mmis/2017/ex/bgrd/backgroundfile-104796.pdf
Attachment 1 - Build Toronto 2016 Annual Review
https://www.toronto.ca/legdocs/mmis/2017/ex/bgrd/backgroundfile-104797.pdf
Attachment 2 - Build Toronto Financial Report to the Shareholder and 2016 Consolidated Audited Financial Statements
https://www.toronto.ca/legdocs/mmis/2017/ex/bgrd/backgroundfile-104798.pdf
Attachment 3 - Build Toronto Incorporated 2016 Compensation Disclosure and Analysis
https://www.toronto.ca/legdocs/mmis/2017/ex/bgrd/backgroundfile-104799.pdf
Attachment 4 - Build Toronto's 2016 Value Add Report to the Shareholder
https://www.toronto.ca/legdocs/mmis/2017/ex/bgrd/backgroundfile-104800.pdf