Item - 2021.EX27.12
Tracking Status
- City Council adopted this item on November 9, 2021 with amendments.
- This item was considered by the Executive Committee on October 27, 2021 and adopted without amendment. It will be considered by City Council on November 9, 2021.
EX27.12 - Basin Street Media Hub
- Decision Type:
- ACTION
- Status:
- Amended
- Wards:
- All
City Council Decision
City Council on November 9, 10 and 12, 2021, adopted the following:
1. City Council approve the term sheet in substantially the form attached as Confidential Attachment 2 to the report (September 30, 2021) from the Executive Vice President, Strategic Development, CreateTO to the Toronto Port Lands Company Board of Directors.
2. City Council authorize Toronto Port Lands Company to execute the term sheet in substantially the form attached as Confidential Attachment 2 to the report (September 30, 2021) from the Executive Vice President, Strategic Development, CreateTO to the Toronto Port Lands Company Board of Directors, and any lease resulting therefrom, provided that such lease is approved by or conditional upon approval by the CreateTO Board of Directors.
3. City Council request the City Manager to establish a working group with representatives from CreateTO, City Planning, Economic Development and Culture, Parks, Forestry and Recreation, Transportation Services, Toronto Water, Engineering and Construction Services and other City divisions or agencies, as appropriate, in order to expedite the review and approvals necessary to advance the Basin Street Media Hub proposal as soon as possible.
4. City Council direct that Confidential Attachments 1 and 2 to the report (September 30, 2021) from the Executive Vice President, Strategic Development, CreateTO remain confidential in their entirety as they are about a pending disposition of land by the Board of Directors of Toronto Port Lands Company and about a position, plan or instruction to be applied to negotiations carried on or to be carried on by or on behalf of the Board of Directors of Toronto Port Lands Company.
Confidential Attachments 1 and 2 to the report (September 30, 2021) from the Executive Vice President, Strategic Development, CreateTO remain confidential in their entirety in accordance with the provisions of the City of Toronto Act, 2006, as they pertain to a pending disposition of land by the Board of Directors of Toronto Port Lands Company and about a position, plan or instruction to be applied to negotiations carried on or to be carried on by or on behalf of the Board of Directors of Toronto Port Lands Company.
Confidential Attachment - A pending disposition of land by the Board of Directors of Toronto Port Lands Company and a position, plan or instruction to be applied to negotiations carried on or to be carried on by or on behalf of the Board of Directors of Toronto Port Lands Company
Background Information (Committee)
https://www.toronto.ca/legdocs/mmis/2021/ex/bgrd/backgroundfile-171997.pdf
(October 12, 2021) Transmittal Letter from the Chief Executive Officer, CreateTO - Decision of the Toronto Port Lands Company (TPLC) Board of Directors concerning the item “Basin Media Hub - Term Sheet Update”
https://www.toronto.ca/legdocs/mmis/2021/ex/bgrd/backgroundfile-171998.pdf
(September 30, 2021) Report from the Executive Vice President, Strategic Development, CreateTO to the TPLC Board on October 12, 2021 (“Basin Media Hub - Term Sheet Update”)
https://www.toronto.ca/legdocs/mmis/2021/ex/bgrd/backgroundfile-171999.pdf
Confidential Attachment 1 - Confidential Summary of Selection Process, Successful Proposal and Key Term Sheet Conditions
Confidential Attachment 2 - Term Sheet
Motions (City Council)
That City Council request the City Manager to establish a working group with representatives from CreateTO, City Planning, Economic Development and Culture, Parks, Forestry and Recreation, Transportation Services, Toronto Water, Engineering and Construction Services and other divisions or agencies as appropriate, in order to expedite review and approvals necessary to advance the Basin Street Media Hub proposal as soon as possible.
EX27.12 - Basin Street Media Hub
- Decision Type:
- ACTION
- Status:
- Adopted
- Wards:
- All
Confidential Attachment - A pending disposition of land by the Board of Directors of Toronto Port Lands Company and a position, plan or instruction to be applied to negotiations carried on or to be carried on by or on behalf of the Board of Directors of Toronto Port Lands Company
Committee Recommendations
The Executive Committee recommends that:
1. City Council approve the term sheet in substantially the form attached as Confidential Attachment 2 to the report (September 30, 2021) from the Executive Vice President, Strategic Development, CreateTO to the Toronto Port Lands Company Board of Directors.
2. City Council authorize Toronto Port Lands Company to execute the term sheet in substantially the form attached as Confidential Attachment 2 to the report (September 30, 2021) from the Executive Vice President, Strategic Development, CreateTO to the Toronto Port Lands Company Board of Directors, and any lease resulting therefrom, provided that such lease is approved by or conditional upon approval by the CreateTO Board of Directors.
3. City Council direct that Confidential Attachments 1 and 2 to the report (September 30, 2021) from the Executive Vice President, Strategic Development, CreateTO remain confidential in their entirety as they are about a pending disposition of land by the Board of Directors of Toronto Port Lands Company and about a position, plan or instruction to be applied to negotiations carried on or to be carried on by or on behalf of the Board of Directors of Toronto Port Lands Company.
Origin
Summary
At its meeting on October 12, 2021, CreateTO considered a Transmittal Letter from the Chief Executive Officer, CreateTO providing the Decision of the Toronto Port Lands Company (TPLC) Board of Directors concerning the item “Basin Media Hub - Term Sheet Update” as part of Item RA25.3 and made recommendations to City Council.
The Basin Media Hub is a development proposal being advanced by CreateTO on behalf of Toronto Port Lands Company (TPLC), for a purpose-built and state-of-the-art film, television, and digital media complex in the Film Studio District of the Port Lands. This development will significantly contribute to ongoing growth of Toronto’s screen-based industries and represent a major step forward in the revitalization of the Port Lands.
Background Information
https://www.toronto.ca/legdocs/mmis/2021/ex/bgrd/backgroundfile-171997.pdf
(October 12, 2021) Transmittal Letter from the Chief Executive Officer, CreateTO - Decision of the Toronto Port Lands Company (TPLC) Board of Directors concerning the item “Basin Media Hub - Term Sheet Update”
https://www.toronto.ca/legdocs/mmis/2021/ex/bgrd/backgroundfile-171998.pdf
(September 30, 2021) Report from the Executive Vice President, Strategic Development, CreateTO to the TPLC Board on October 12, 2021 (“Basin Media Hub - Term Sheet Update”)
https://www.toronto.ca/legdocs/mmis/2021/ex/bgrd/backgroundfile-171999.pdf
Confidential Attachment 1 - Confidential Summary of Selection Process, Successful Proposal and Key Term Sheet Conditions
Confidential Attachment 2 - Term Sheet