Item - 2017.EX29.5

As a result of the amended Shareholder Directions for Build Toronto and the Toronto Port Lands Company, the members of the Toronto Realty Agency Board of Directors are also members of the Board of Directors of Build Toronto and the Toronto Port Lands Company by virtue of position effective January 1, 2018.

The Executive Committee recommends that:

1.  City Council approve the municipal code chapter amendments in substantially the form as set out in Appendix A to the report (November 15, 2017) from the Deputy City Manager, Internal Corporate Services, effective January 1, 2018, subject to such stylistic or technical amendments as may be required by the City Solicitor.

2.  City Council approve the amendments to the shareholder directions for Build Toronto and the Toronto Port Lands Company in substantially the form as set out in Appendix B and Appendix C to the report (November 15, 2017) from the Deputy City Manager, Internal Corporate Services, effective January 1, 2018, subject to such technical amendments as may be required by the City Solicitor.

3.  City Council direct the City Solicitor to prepare and introduce any required amendments to the Municipal Code regulations for the Toronto Realty Agency (currently Chapter 215) and take any other necessary steps to give effect to the re-naming of the Toronto Realty Agency by the Toronto Realty Agency Board.

4.  City Council authorize the City Solicitor to introduce the necessary bills to give effect to City Council's decisions in the report (November 15, 2017) from the Deputy City Manager, Internal Corporate Services.

City Staff are recommending amendments to certain municipal code chapters and shareholder directions of two corporations, Build Toronto and Toronto Port Lands Company, to centralize real estate authorities and decision making on a City-wide basis (excluding Toronto Community Housing Corporation and Toronto Hydro).  A framework for centralizing City-wide real estate authorities was adopted by City Council on October 2, 3 and 4, 2017. City Council directed staff to report back in the fourth quarter of 2017 on the specific amendments required to implement the framework, including:

-Amendments to Shareholder Directions for Build Toronto and Toronto Port Lands Company, in order to establish appropriate authority for the Toronto Realty Agency over Build Toronto Inc. ("Build Toronto") and the Toronto Port Lands Company ("TPLC") and their respective holding subsidiaries and activities, and to effectively implement the new real estate model approved by City Council in May 2017; and

 
-Amendments to Municipal Code Chapters and delegated authorities for certain Agencies and Divisions including Toronto Transit Commission ("TTC"), Toronto Parking Authority ("TPA") and Board of Governors of Exhibition Place ("Exhibition Place"), Toronto Public Library ("TPL") and Parks Forestry and Recreation ("PF&R") to ensure that all real estate transactions are directed through the City's new real estate service delivery model and delegated authority approval process, effective January 1, 2018.
 

The new real estate model (consisting of the Toronto Realty Agency, plus the Real Estate Services and Facilities Management Divisions under the Deputy City Manager of Internal Corporate Services) will work in an integrated fashion to deliver real estate services to all City programs and execute the best solutions for the City as a whole. This includes driving major City-building and revitalization projects, unlocking value for City priorities (e.g. community, social, economic, and environmental opportunities), and delivering creative solutions to programs, residents and visitors of the city. All program commitments from Build Toronto and Toronto Port Lands Company will be maintained under the new real estate model and managed by the Toronto Realty Agency, such as targets for affordable housing and dividend commitments. New targets will be established as part of a City-wide real estate strategy that will be submitted to Council in 2019 with input from Divisions, City Councillors and other City stakeholders.

Once the City-wide real estate service delivery model is launched on January 1, 2018, the new Toronto Realty Agency and the Deputy City Manager, Internal Corporate Services, will collaborate to plan and execute real estate solutions in an integrated manner, while working closely with City Divisions, Agencies and Corporations. City Staff are also establishing a new name and brand for the Toronto Realty Agency through engagement with various stakeholders and will bring forward the naming and branding strategy to City Council in early 2018.