Item - 2021.PA23.13

Tracking Status

This item was considered by Toronto Parking Authority on May 12, 2021 and was adopted without amendment.

PA23.13 - Transaction Update of City-owned 50 Cumberland Street/37 Yorkville Avenue (Municipal Car Park 15)

Decision Type:: ACTION

Status:: Adopted

Ward:: 11 - University - Rosedale

Confidential Attachment - Information and advice that is subject to solicitor-client privilege, including communications necessary for that purpose

Board Decision

The Board of Directors of Toronto Parking Authority:

1. Directed that Confidential Attachment 1 to the report (April 28, 2021) from the President, Toronto Parking Authority and the City Solicitor remain confidential in its entirety at the discretion of the City Solicitor, as it contains information and advice that is subject to solicitor-client privilege, including communications necessary for that purpose.

Origin

(April 28, 2021) Report from the President, Toronto Parking Authority, and the City Solicitor

Summary

The purpose of this report is to provide the Board of Directors of Toronto Parking Authority with an update regarding the sale of the former City-owned above-grade lands at 50 Cumberland Street/37 Yorkville by PricewaterhouseCoopers LLP, as receiver and manager of the assets 33 Yorkville Residences Inc. and 33 Yorkville Residences Limited Partnership.

Background Information

(April 28, 2021) Report from the President, Toronto Parking Authority, and the City Solicitor on Transaction Update of City-owned 50 Cumberland Street/37 Yorkville Avenue (Municipal Car Park 15)
https://www.toronto.ca/legdocs/mmis/2021/pa/bgrd/backgroundfile-166388.pdf
Confidential Attachment 1 - Transaction Update of 50 Cumberland Street/37 Yorkville Avenue

Motions

Motion to Adopt Item moved by Namby Vithiananthan (Carried)

Vote (Adopt Item) May-12-2021

Result: Carried	Majority Required
Total members that voted Yes: 3	Members that voted Yes are Maureen Farrow, Jeffrey Steiner, Namby Vithiananthan (Chair)
Total members that voted No: 0	Members that voted No are
Total members that were Absent: 3	Members that were absent are Brad Bradford, Mike Layton, Hartley Lefton (Interest Declared)

Declared Interests

The following member(s) declared an interest:

Hartley Lefton - as members of the law firm of which he is a partner are counsel to the receiver in this matter.
Written Declaration: https://secure.toronto.ca/council/declared-interest-file.do?id=9776