Item - 2021.EC26.6

The Economic and Community Development Committee recommends that:

1.  City Council waive the application of the Community Space Tenancy Policy in respect of the Lease, including the requirements outlined in the Request for Expressions of Interest in the Community Space Tenancy Policy, and declare that it is in the interest of the City of Toronto to grant a Lease to A Different Booklist Cultural Centre for nominal consideration.

2.  City Council authorize the Executive Director, Corporate Real Estate Management to negotiate and enter into a 49-year below-market rent lease agreement (the "Lease") between the City of Toronto, as the Landlord, and A Different Booklist Cultural Centre, as the Tenant, in respect of 756 Bathurst Street (the "Leased Premises"), substantially on the major terms and conditions in Attachment 1 to the report (November 18, 2021) from the Interim General Manager, Economic Development and Culture, the Executive Director, Corporate Real Estate Management and the Director, Strategic Partnerships and on other terms and conditions as deemed appropriate by the Executive Director, Corporate Real Estate Management or their designate and in a form acceptable to the City Solicitor.

3.  City Council declare 756 Bathurst Street surplus with the intended manner of disposal to be by way of a long-term lease to A Different Booklist Cultural Centre and City Council direct staff to take all steps necessary to comply with the City of Toronto's real estate disposal process set out in City of Toronto Municipal Code Chapter 213, Real Property.

4.  City Council direct the Executive Director, Corporate Real Estate Management, as the Landlord, to permit the Tenant, A Different Booklist Cultural Centre, to perform State of Good Repair and Accessibility for Ontarians with Disabilities Act compliance work on behalf of the Landlord with an estimated value of $7,688,000 exclusive of Harmonized Sales Tax, on terms and conditions satisfactory to the Executive Director, Corporate Real Estate Management, as outlined in Attachment 1 to the report (November 18, 2021) from the Interim General Manager, Economic Development and Culture, the Executive Director, Corporate Real Estate Management and the Director, Strategic Partnerships, and including compliance with the City of Toronto's Fair Wage Policy and labour trade contractual obligations and in a form satisfactory to the City Solicitor.

5.  City Council authorize the Director, Strategic Partnerships to accept donations in compliance with the Donations to the City of Toronto For Community Benefits Policy, subject to A Different Booklist Cultural Centre satisfying the terms and conditions in Attachment 2 to the report (November 18, 2021) from the Interim General Manager, Economic Development and Culture, the Executive Director, Corporate Real Estate Management and the Director, Strategic Partnerships.

This report seeks authority for the City (as the "Landlord") to enter into a 49-year below-market rent lease agreement (the "Lease") with A Different Booklist Cultural Centre ("A.D.B.C.C.", as the "Tenant") in respect of the property located at 756 Bathurst Street. 756 Bathurst Street is a three-storey building with ground floor retail fronting on Bathurst Street that will be purchased by the City from the developer of the adjacent mixed-use development known as Mirvish Village (the "Leased Premises"), pursuant to an Agreement of Purchase and Sale executed in December 2017.

A.D.B.C.C. is an organization engaged in promoting the cultural, social, educational and economic well-being of the African Canadian and Caribbean Canadian communities, by providing space for community projects and events; and through the sale of cultural and educational products. Although the organization is a not-for-profit, it is associated with a for-profit bookstore, which makes them ineligible to participate in the City's Community Space Tenancy program. By entering into the Lease, A.D.B.C.C. will become eligible for federal capital funding programs.

This report also seeks authority for the City to accept donations in compliance with the Donations to the City of Toronto For Community Benefits Policy with respect to the capital project at 756 Bathurst Street until A.D.B.C.C. achieves charitable status with the Canada Revenue Agency and is able to issue charitable receipts for income tax purposes for donations received on behalf of their own organization.