Minutes Confirmed on July 6, 2016

Board of Directors of the Toronto Atmospheric Fund

Meeting No.:: 9 (Special)
Contact:: Jennifer Lin, Committee Secretary
Meeting Date:: Friday, June 3, 2016
Phone:: 416-392-4666
Start Time:: 9:30 AM
E-mail:: jlin@toronto.ca
Location:: Committee Room 4, City Hall
Chair:: Sandra Odendahl

TA9.1 - Terms for Negotiation of a Transfer Payment Agreement for the Ontario Endowment

Decision Type:: ACTION

Status:: Adopted

Confidential Attachment - The security of the property of the municipality or local board

Board Decision

The Board of Directors of the Toronto Atmospheric Fund:

1. Authorized the public release of the confidential information in Confidential Attachment 1 to the report (June 2, 2016) from the Chief Executive Officer once the Transfer Payment Agreement is signed with the Province of Ontario.

2. Adopted Confidential Attachment 1 to the report (June 2, 2016) from the Chief Executive Officer as core terms for negotiating a Transfer Payment Agreement between Toronto Atmospheric Fund and the City of Toronto and the Province of Ontario.

3. Directed Toronto Atmospheric Fund staff, in consultation with the City Manager's Office, to negotiate a Transfer Payment Agreement with the Province of Ontario, and to bring it forward for approval by the Board of Directors of the Toronto Atmospheric Fund and Toronto City Council.

Decision Advice and Other Information

The Board of Directors of the Toronto Atmospheric Fund recessed its public meeting to meet in closed session to consider the item as it pertains to the security of the property of the municipality or local board.

Origin

(June 2, 2016) Report from the Chief Executive Officer

Summary

The Ad Hoc Endowment Expansion Working Group (WG), established by the Toronto Atmospheric Fund Board to support securing the provincial contribution of $17 million to Toronto Atmospheric Fund's endowment, is recommending key terms to be advanced by Toronto Atmospheric Fund and the City of Toronto in negotiating a Transfer Payment Agreement with the Ministry of Municipal Affairs and Housing.

Background Information

(June 2, 2016) Report from the Chief Executive Officer, Terms for Negotiation of a Transfer Payment Agreement for the Ontario Endowment
https://www.toronto.ca/legdocs/mmis/2016/ta/bgrd/backgroundfile-93942.pdf
Confidential Attachment 1 - Draft Terms for Negotiation of Transfer Payment Agreement (TPA) between TAF and the Province of Ontario
(May 26, 2016) Report from the Chief Executive Officer, Toronto Atmospheric Fund on Endowment Enhancement Update - Notice of Pending Report
https://www.toronto.ca/legdocs/mmis/2016/ta/bgrd/backgroundfile-93919.pdf

Motions

1 - Motion to Meet in Closed Session moved by Jason Kotler (Carried)

9:39 a.m. - That the Board of Directors of the Toronto Atmospheric Fund recess its public meeting to meet in closed session to consider:

TA9.1 - Terms for Negotiation of a Transfer Payment Agreement for the Ontario Endowment

as it pertains to the security of the property of the municipality or local board.

2 - Motion to Adopt Item moved by Sandra Odendahl (Carried)

Also Present - Non-Members:

Julia Langer, Chief Executive Officer, Toronto Atmospheric Fund
Mary Pickering, Vice President, Programs and Partnerships, Toronto Atmospheric Fund
Tim Stoate, Vice President, Impact Investing

Cliff Goldfarb, Solicitor, Gardiner Roberts LLP

Jaime Klein, Executive Coordinator, Toronto Atmospheric Fund

Peter Notaro, Executive Director, Strategic and Corporate Policy, City Manager's Office

Karen Jones, Senior Corporate Management Policy Consultant, City Manager's Office

Friday, June 3, 2016

Meeting Sessions

Session Date	Session Type	Start Time	End Time	Public or Closed Session
2016-06-03	Morning	9:38 AM	9:39 AM	Public
2016-06-03	Morning	9:40 AM	10:42 AM	Closed
2016-06-03	Morning	10:43 AM	10:45 AM	Public

Attendance

Members were present for some or all of the time period indicated.

Date and Time	Quorum	Members
2016-06-03 9:38 AM - 9:39 AM (Public Session)	Present	Present: Corey Diamond, Sarah Doucette, Jason Kotler, Jacoline Loewen, Susan McLean, Sandra Odendahl (Chair), Gord Perks, Rob Roberti, Ravi Seethapathy Not Present: Justin J. Di Ciano, Stephen Holyday, Mike Layton
2016-06-03 9:40 AM - 10:42 AM (Closed Session)	Present	Present: Corey Diamond, Sarah Doucette, Stephen Holyday, Jason Kotler, Jacoline Loewen, Susan McLean, Sandra Odendahl (Chair), Gord Perks, Rob Roberti, Ravi Seethapathy Not Present: Justin J. Di Ciano, Mike Layton
2016-06-03 10:43 AM - 10:45 AM (Public Session)	Present	Present: Corey Diamond, Sarah Doucette, Stephen Holyday, Jason Kotler, Jacoline Loewen, Susan McLean, Sandra Odendahl (Chair), Gord Perks, Rob Roberti, Ravi Seethapathy Not Present: Justin J. Di Ciano, Mike Layton