Item - 2022.MM45.50

City Council on June 15 and 16, 2022, adopted the following:

1.  City Council amend the Council approved Transportation Services 2022-2031 Capital Budget and Plan in the amount of $1,892,000 for the Neighbourhood Improvements Program (CTP422-03) fully funded by Section 37 (Planning Act Reserve Fund) community benefits collected from  the following developments to transfer funds to BAC Surface Inc. for construction and related costs to implement streetscape improvements on Temperance Street from Yonge Street to Bay Street:

a.  $1,068,597 from Section 37 funds obtained from the development at 102 -118 Peter Street and 350-354 Adelaide Street West (Source Account: XR3026- 3701023);

b.  $95,851 from Section 37 funds obtained from the development at 73 Richmond Street West (Source Account: XR3026-3700544); and

c.  $727,552 from Section 37 funds obtained from the development at 60 Shuter Street and 187 and 189 Church Street - (Source Account: XR3026- 3700961).

2.  City Council amend the Council approved Parks, Forestry and Recreation 2022-2031 Capital and Plan to create a new capital sub-project known as Cloud Gardens Park Improvements in the Park Development project, with a project cost of $373,000 and cash flow commitments in 2023, fully funded by Section 37 and Section 45 (Planning Act Reserve Fund) community benefits collected from the following developments, to transfer funds to BAC Surface Inc. for construction and related costs to implement improvements to Cloud Gardens Park:

a.  $93,245 from Section 37 funds obtained from the development at 73 Richmond Street West (Source Account: XR3026-3700544); and

b.  $279,755 from Section 45 funds obtained from the development at 85 Richmond Street West (Source Account: XR3028-4500213).

3.  City Council authorize the City of Toronto to enter into, and the General Manager, Transportation Services and the General Manager, Parks, Forestry and Recreation to execute on behalf of the City, any necessary agreements with BAC Surface Inc. for construction and related costs to implement streetscape improvements on Temperance Street from Yonge Street to Bay Street and improvements to Cloud Gardens Park, on terms and conditions deemed necessary and appropriate by the General Manager, Transportation Services, the General Manager, Parks, Forestry and Recreation and the City Solicitor, and in accordance with City policies applicable to capital projects.

4.  City Council authorize the General Manager, Transportation Services to transfer up to $1,892,000 from the Council approved Transportation Services 2022-2031 Capital Budget and Plan from the Neighbourhood Improvements Program (CTP422-03) project to BAC Surface Inc. to fund the City's agreed cash portion for the construction and related costs to implement streetscape improvements on Temperance Street from Yonge Street to Bay Street, subject to BAC Surface Inc. entering into the necessary agreements with the City.

5.  City Council authorize the General Manager, Parks, Forestry and Recreation to transfer up to $373,000 from the Parks, Forestry and Recreation's Approved 2022-2031 Capital Budget and Plan from the Cloud Gardens Park Improvements sub-project to BAC Surface Inc. to fund the City's agreed cash portion for the construction and related costs to implement improvements to Cloud Gardens Park, subject to BAC Surface Inc. entering into the necessary agreements with the City.