Members of Council and Staff:  Please keep this agenda and the accompanying material until the City Council meeting dealing with these matters has ended.  The City Clerk’s Office will not provide additional copies.

Special Assistance for Members of the Public:  City staff can arrange for special assistance with some advance notice.  If you need special assistance, please call (416-392-5227), TTY 416‑338-0889 or e-mail buc@toronto.ca.

Closed Meeting Requirements:  If the Budget Committee wants to meet in closed session (privately), a member of the committee must make a motion to do so and give the reason why the Committee has to meet privately. (City of Toronto Act, 2006)

Notice to people writing or making presentations to the Budget Committee:  The City of Toronto Act, 2006 and the City of Toronto Municipal Code authorize the City of Toronto to collect any personal information in your communication or presentation to City Council or its committees.

The City collects this information to enable it to make informed decisions on the relevant issue(s). If you are submitting letters, faxes, e‑mails, presentations or other communications to the City, you should be aware that your name and the fact that you communicated with the City will become part of the public record and will appear on the City’s website. The City will also make your communication and any personal information in it – such as your postal address, telephone number or e-mail address – available to the public, unless you expressly request the City to remove it.

The City videotapes committee and community council meetings. If you make a presentation to a committee or community council, the City will be videotaping you and City staff may make the video tapes available to the public.

If you want to learn more about why and how the City collects your information, write to the City Clerk’s Office, City Hall, 100 Queen Street West, Toronto ON M5H 2N2 or by calling 416-392-7340.

Declarations of Interest under the Municipal Conflict of Interest Act

Confirmation of Minutes – October 19, 21, 23, 29, November 3, 13, 16 and 26, 2009

Communications/Reports

The General Manager of Parks, Forestry and Recreation recommends that:

1.         City Council grant the authority to reduce the 2009 fixed rent receivable of selected Parks, Forestry and Recreation’s, Business Services, Lease and Licence Agreements to offset the financial loss incurred due to the 2009 labour disruption, for an overall reduction of $850,000.

The purpose of this report is to request authority to reduce the 2009 rent for some Lease and Licence Agreements managed by the Parks Forestry and Recreation Division’s Business Services Unit.  Those Lease and Licence Agreement holders that would receive a rent reduction were negatively impacted financially, by the 2009 labour disruption.  Parks, Forestry and Recreation is seeking City Council approval to reduce the 2009 rent for those Lease and Licence Agreements impacted by the labour disruption.

The rent forgiveness adjustment of $850,000 has been provided for in the corporate allocation related to the strike savings as represented in Appendix 1, Table 5 of the report entitled, “2009 Labour Disruption Costs and Savings”:

(http://www.toronto.ca/legdocs/mmis/2009/ex/bgrd/backgroundfile-23752.pdf).

The amount of $850,000, which has been billed to tenants for fixed rent for the period of the labour disruption, is included in Parks, Forestry and Recreation’s total of $15.8 million of foregone user fee revenue, commissions and rents.

The Deputy City Manager and Chief Financial Officer has reviewed this report and agrees with the financial impact information.

The General Manager of Transportation Services recommends that:

1.         City Council approve the deferred and accelerated cash flows in the amount of $13,500,000 detailed in Table 1 of the report (February 2, 2010) from the General Manager, Transportation Services, which will have no net impact on the approved 2010 debt.

2.         City Council authorize and direct the appropriate City Officials to take the necessary action to give effect thereto.

The Transportation Services Division is recommending the reallocation of anticipated cash flow expenditures that, for various reasons, need to be deferred to other projects that are ready to proceed.  This involves the deferral of 2010 approved cash flows along with a corresponding acceleration and increase within other Transportation Services Capital Budget items that yield a zero net impact on the approved debt target for 2010.

The impact on project costs resulting from the cash flow reallocations is an increase of $2,500,000 million.  An equivalent amount of project costs will either be funded from other sources or there will be an offsetting reduction in future year project costs.  In view of the foregoing, Transportation staff, as part of the upcoming 2011 budget process and consistent with the Divisional submission, has reassessed all ongoing and imminent project cash flows and all available funding sources in order that the increase in project costs will have no net impact on the approved five year debt targets for Transportation Services.

Funding in the amount of $13,500,000 will be decreased and deferred from various projects for a number of reasons, as outlined in the body of this report.  In this regard, an equivalent cash flow can be accelerated, increased and reallocated to a number of projects that are ready to proceed.  These cash flows represent debt funded projects with no net change to the approved 2010 net debt funding requirement. Transportation Services staff, as part of the upcoming 2011 budget process and consistent with the Divisional submission, has reassessed all ongoing and imminent project cash flows and all available funding sources in order that the increase in project costs will have no net impact on the approved five year debt targets for Transportation Services.

The Deputy City Manager and Chief Financial Officer has reviewed this report and agrees with the financial impact information.

Advising that the Toronto Transit Commission on December 16, 2009, considered the report, entitled "Yonge-University Spadina Line - Subway Rail Yard Needs Strategy", and among other things, forwarded the report to Metrolinx and the City of Toronto for information, noting that the full implementation of the SRYNS will impact the TTC Capital Budget and the budget for the Yonge Subway Northern Extension Project.