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Documentation about the establishing of the Bentway

Staff report on the Bentway, June 20, 2016: Governance and Funding Options (background file for council)

Some excerpts:

To support the early stage operations of the non-profit entity, this report recommends a one-time draw of $10 million in City capital funding to enable a matching $10 million of the Donor's funds to be directed to programming, operations and maintenance from 2016 to 2023. The City's $10 million contribution would be drawn from Development Charges and cash-in-lieu funds intended for the creation of parkland and recreational space. (These capital funds cannot be directly committed to operating expenses.) The Donor's $10 million operating contribution would be drawn from its original $25 million capital donation to the Project.

From Operations and funding options background report:

Staff will report back to Council by the end of 2016 with details regarding the outcome of these negotiations and the proposed terms for programming, operations and maintenance of the Project, including the roles and responsibilities of the non-profit entity and the City. This future report will also describe service delivery options for the area.

Consultant's cost estimate:

HR&A estimated annual operating costs for phase one of Project: Under Gardiner (in millions)
Routine Operations & Maintenance
low $0.54, high $0.72
Management & Administration
low $1.0, high $1.2
Capital Reserve
low $0.2, high $0.55
Fundraising
low $0.06m high $0.18
Ice Skating Trail
low $0.13, high $0.43
Foundational Programming
low $1.2, high $1.4
Total operating cost per year for the first project phase:
low $3.2 million, high $4.5 million

The fully operating project has this estimate: low $3.5 m and high $5 m per year.

The Conservancy

The City will enter into agreements with the Non-Profit Entity permitting the lands owned by the City to be used for Project purposes subject to the limitations identified in the MOU. These agreements will cover matters such as maintenance, liability and insurance.

The "non-profit entity" will provide an annual report that will set out, among other things, in reasonable detail how much non-City money was received/raised in the prior year.

Artscape invitation 2016

City funding puzzle

Operations & Maintenance and Governance HR&A Structure Study Prepared for: WATERFRONT TORONTO]]

Annual Report 2017

Use agreement for the Bentway, approved by City Council, Jan.31, 2018

https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-110758.pdf

history

City Funding 2018

City Council on June 26, 27, 28 and 29, 2018, adopted the following:

1. City Council amend the 2018 Approved Capital Budget for the Waterfront Revitalization Initiative to increase funding by $500,000 from $24 million to $24.5 million for the capital project named CWR003-26 The Bentway; the additional funding of $500,000 to be funded by Section 42 Alternate Rate Cash in lieu of Parkland; and with an increased cash flow from $3.5 million to $4 million in 2018 for the purpose of funding an extension of the project into Ward 20 from the following development:

a. 120 and 130 Harbour Street, secured for Section 42 Alternate Rate Cash in lieu of Parkland, in the amount of $500,000 (source account XR2213-4200474)

From Waterfront Toronto Annual Report P. 14. 2017/18 Spend: $12.7 million


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