Item - 2021.MM34.7

City Council on June 8 and 9, 2021, adopted the following:

1.  City Council authorize the City of Toronto to enter into, and the General Manager, Parks, Forestry and Recreation to execute on behalf of the City, a Construction Project Agreement with Lanterra Development (Bay Wellesley) Limited for streetscape improvements on Breadalbane Street up to the eastern and western limits of the currently-under-construction Dr. Lillian McGregor Park, on terms and conditions satisfactory to the General Manager, Parks, Forestry and Recreation, the General Manager, Transportation Services and the City Solicitor, and in accordance with City policies applicable to capital projects.

2.  City Council authorize the City of Toronto to enter into, and the General Manager, Parks, Forestry and Recreation to execute on behalf of the City, any other ancillary agreements necessary to complete the design and construction of the streetscape improvements, on terms and conditions satisfactory to the General Manager, Parks, Forestry and Recreation, the General Manager, Transportation Services, and the City Solicitor.

3.  City Council amend the Approved 2021-2030 Capital Budget and Plan for Transportation Services to create a new capital project known as Breadalbane Street Improvements (CTP421-04), with a project cost $0.750 million and cash flow commitments of $0.250 million in 2021 and $0.500 million in 2022, fully funded from the Section 37 community benefit obtained from the development at 951 - 971 Bay Street and 36 Wellesley Street West (Source Account: XR3026-3700644) for the purpose of streetscape improvements on Breadalbane Street.

4.  City Council authorize the General Manager, Transportation Services to transfer to Lanterra Development (Bay Wellesley) Limited up to $0.750 million from the Approved 2021-2030  Capital Budget and Plan for Transportation Services from the Breadalbane Street Improvements capital project, subject to the City of Toronto entering into a Construction Project Agreement with Lanterra Development (Bay Wellesley) Limited, to fund the City's agreed cash portion for the development of the Streetscape Improvements.