Item - 2019.EX3.11
Tracking Status
- City Council adopted this item on March 27, 2019 with amendments.
- This item was considered by Executive Committee on March 21, 2019 and was adopted with amendments. It will be considered by City Council on March 27, 2019.
EX3.11 - 2019 Toronto Zoo Lumina Experience
- Decision Type:
- ACTION
- Status:
- Amended
- Wards:
- All
City Council Decision
City Council on March 27 and 28, 2019, adopted the following:
1. City Council increase the Approved 2019 Operating Budget for the Toronto Zoo by $5 million gross, fully funded by a disbursement of undesignated funds held for the Toronto Zoo from the Toronto Foundation, for the Board of Management to enter into a contract with the Moment Factory to implement the Lumina Project, with such project to be managed as a fund separate from the Zoo's City-funded Operating Budget and with net proceeds to be contributed to either the Toronto Foundation or the Toronto Zoo Wildlife Conservancy at the direction of the Toronto Zoo Board of Management.
Background Information (Committee)
https://www.toronto.ca/legdocs/mmis/2019/ex/bgrd/backgroundfile-130592.pdf
Communications (Committee)
Communications (City Council)
https://www.toronto.ca/legdocs/mmis/2019/cc/comm/communicationfile-92919.pdf
(March 27, 2019) E-mail from Miguel Avila - Velarde (CC.New.EX3.11.3)
Motions (City Council)
That City Council delete the Executive Committee Recommendation:
Recommendation to be deleted:
1. City Council approve a loan in the sum of $5.0 million to the Toronto Zoo Board, to finance the award of the contract for a Lumina experience produced by Moment Factory Inc., with interest at a fixed rate equal to the City’s cost of borrowing, with principal and interest repayable over a 36 month period, subject to the loan being guaranteed by the Toronto Zoo Foundation, and authorize the Chief Financial Officer and Treasurer to enter into any necessary loan and ancillary agreements upon such terms acceptable to the Chief Financial Officer and Treasurer in consultation with the City Solicitor.
and adopt instead the following:
1. City Council increase the Approved 2019 Operating Budget for the Toronto Zoo by $5 million gross, fully funded by a disbursement of undesignated funds held for the Toronto Zoo from the Toronto Foundation, for the Board of Management to enter into a contract with the Moment Factory to implement the Lumina Project, with such project to be managed as a fund separate from the Zoo's City-funded Operating Budget and with net proceeds to be contributed to either the Toronto Foundation or the Toronto Zoo Wildlife Conservancy at the direction of the Toronto Zoo Board of Management.
Vote (Adopt Item as Amended) Mar-28-2019 10:31 AM
| Result: Carried | Majority Required - EX3.11 - Ainslie - motion 1 - Adopt the item as amended |
|---|---|
| Total members that voted Yes: 16 | Members that voted Yes are Paul Ainslie, Ana Bailão, Brad Bradford, Shelley Carroll, Mike Colle, Gary Crawford, Joe Cressy, John Filion, Michael Ford, Mark Grimes, Cynthia Lai, Mike Layton, Jennifer McKelvie, Denzil Minnan-Wong, James Pasternak, Anthony Perruzza |
| Total members that voted No: 5 | Members that voted No are Josh Matlow, Frances Nunziata (Chair), Gord Perks, Michael Thompson, Kristyn Wong-Tam |
| Total members that were Absent: 5 | Members that were absent are Paula Fletcher, Stephen Holyday, Jim Karygiannis, Jaye Robinson, John Tory |
EX3.11 - 2019 Toronto Zoo Lumina Experience
- Decision Type:
- ACTION
- Status:
- Amended
- Wards:
- All
Committee Recommendations
The Executive Committee recommends that:
1. City Council approve a loan in the sum of $5.0 million to the Toronto Zoo Board, to finance the award of the contract for a Lumina experience produced by Moment Factory Inc., with interest at a fixed rate equal to the City’s cost of borrowing, with principal and interest repayable over a 36 month period, subject to the loan being guaranteed by the Toronto Zoo Foundation, and authorize the Chief Financial Officer and Treasurer to enter into any necessary loan and ancillary agreements upon such terms acceptable to the Chief Financial Officer and Treasurer in consultation with the City Solicitor.
Origin
Summary
This report recommends approval of a loan of $5.0 million to the Toronto Zoo to finance the installation of a special exhibit Lumina experience at the Toronto Zoo for an opening in December 2019.
Background Information
https://www.toronto.ca/legdocs/mmis/2019/ex/bgrd/backgroundfile-130592.pdf
Communications
Speakers
Motions
That Executive Committee amend Recommendation 1 so that it now reads as follows:
1. City Council approve a loan/line of credit agreement in the sum of $5.0 million to the Toronto Zoo Board, to finance the award of the contract for a Lumina experience produced by Moment Factory Inc., with interest at a fixed rate equal to the City’s cost of borrowing, with principal and interest repayable over a 36 month period, subject to the loan being guaranteed by the Toronto Zoo Foundation, and authorize the Chief Financial Officer and Treasurer to enter into any necessary loan and ancillary agreements upon such terms acceptable to the Chief Financial Officer and Treasurer in consultation with the City Solicitor.
Vote (Amend Item) Mar-21-2019
| Result: Carried | Majority Required |
|---|---|
| Total members that voted Yes: 5 | Members that voted Yes are Paul Ainslie, Ana Bailão, Gary Crawford, Denzil Minnan-Wong, John Tory (Chair) |
| Total members that voted No: 2 | Members that voted No are Frances Nunziata, Michael Thompson |
| Total members that were Absent: 1 | Members that were absent are James Pasternak |