Item - 2021.MM36.43

City Council on October 1 and 4, 2021, adopted the following:

1.  City Council delete Part  5 a. i. of Item TE26.8 adopted by Council on July 14, 15 and 16, 2021, and replace is with the following new Part 5 a. i.:
 

i. prior to the issuance of the first above-grade building permit, the owner shall pay to the City a cash contribution of $9,000,000 to be allocated as follows:

A. $3,000,000 towards new and/or existing affordable housing within Ward 13, in consultation with the Ward Councillor;

B. $3,000,000 towards local area park or streetscape improvements located within Ward 13 and within the vicinity of the subject lands, to the satisfaction of the Chief Planner and Executive Director, City Planning, in consultation with the Ward Councillor, the General Manager, Parks, Forestry and Recreation and the General Manager, Transportation Services; and

C. $3,000,000 towards community, cultural or recreational facilities capital improvements within Ward 13, in consultation with the Ward Councillor;

2.  City Council amend Part 5 a. of Item TE26.8 by adding a new v. and vi. as follows:
 

v. the owner shall commission public art at a minimum value of $500,000 to be located near the corner of Bay Street and St. Mary Street on the subject lands, in accordance with the City of Toronto's Percent for Public Art Program;

vi. at the sole discretion of the Chief Planner and Executive Director, City Planning, the public art contribution in v. above may be made by way of a cash contribution in the amount of $500,000 to the City’s capital budget for Public Art programs.