City of Toronto - Recommendations lyrics

The City Manager and the Deputy City Manager and Chief Financial Officer recommend that: Summary Term Sheet and Agreements 1. City Council approve the Summary Term Sheet and the Stage Gate Process outlined in Attachment 1 of this report. 2. City Council authorize the Mayor, the City Manager, and any other relevant City officials to negotiate, enter into and execute Agreements with the Province, Metrolinx, and/or any of its agencies, to agree to the Stage Gate Process of funding approval for the SmartTrack Project, cost-share arrangements in respect of various other transit initiative, and any necessary ancillary agreements substantially in accordance with the Summary Term Sheet set out in Attachment 1 to this report, and on such other terms and conditions satisfactory to the City Manager and in a form satisfactory to the City Solicitor. 3. City Council request the City Manager report back to the Executive Committee at Stage 5 of the Stage Gate Process for approval of full capital funding of the SmartTrack Project, requesting Metrolinx to proceed with the procurement process for SmartTrack, and providing an update on the City's SmartTrack conditions set out in the Summary Term Sheet. 4. City Council direct that the Confidential Attachment (Attachment 6) to this report regarding the terms of the Georgetown South cost sharing agreement, remain confidential in its entirety in accordance with the provisions of the City of Toronto Act, 2006 as it relates to the security of the property of the municipality or local board, provided that such information or portions of such information may be released publicly at the discretion of the City Solicitor. Technical and Planning Recommendations 5. City Council direct the Chief Planner and Executive Director, City Planning to continue to work in partnership with the TTC, the Province of Ontario, and Metrolinx to: a. complete the planning and design for the six new SmartTrack stations and two new Regional Express Rail stations as described in Stage 3 of the Stage Gate Process; and b. report to Executive Committee at the next phase of the Stage Gate Process for approval of the draft Environmental Project Reports for the new SmartTrack/RER stations and to authorize the City to proceed with the formal Transit Project Assessment Process (TPAP) with Metrolinx. 6. City Council confirm to Metrolinx its support for transit supportive policies and land uses, as established in the Official Plan, for the SmartTrack and RER station areas. 7. City Council direct the Chief Planner and Executive Director, City Planning to continue to work in partnership with the TTC, the Province of Ontario, and Metrolinx in order to: a. complete the early planning and technical an*lysis for the Eglinton West LRT extension between Mount Dennis and Renforth Gateway as described in Stage 3 of the Stage Gate Process, and in particular finalize the number of stops and required grade separations for the project; and b. report to Executive Committee at the next stage in the Stage Gate Process on the recommended scope for the Eglinton West LRT extension between Mount Dennis and Renforth Gateway as a result of the technical and planning an*lysis in part a, and provide a revised Cla** 4/5 cost estimate for the project; and authorize the City and/or Metrolinx on behalf of or in conjunction with the City of Toronto to proceed with any required amendment of the formal Transit Project Assessment Process (TPAP). 8. City Council request the City of Mississauga and Greater Toronto Airports Authority (GTAA) to confirm their interest in the extension of the Eglinton West LRT between Renforth Gateway and Pearson Airport, including commitment of resources to the planning, design, construction and delivery of the project. Finance Recommendations 9. City Council direct the Deputy City Manager and Chief Financial Officer to identify $71 million in funding, through the 2017 - 2026 capital budgeting and planning process, with cash flows as shown in table 1 below, for planning, design, environmental a**essment preparation, property acquisition, and other predevelopment expenditures related to the proposed six SmartTrack Stations on the Stouffville, Kitchener GO, and Lakeshore East corridors and the Eglinton West LRT. 10. City Council direct the Deputy City Manager and Chief Financial Officer to add, through the 2017 Budget Process, the preliminary SmartTrack total net project cost of $2.0 billion ($3.7 billion gross) to the 2017-2026 Capital Program with cash flows as shown in table 2 below, and that these estimates be refined upon completion of Cla** 3 cost estimates in accordance with the Stage Gate Process described in this report. 11. City Council direct the Deputy City Manager and Chief Financial Officer to proceed with the $95 million in total payments related to the City's share of the GO Georgetown South project infrastructure costs as described in the Summary Term Sheet and Attachment 6, and which are currently incorporated in the Council-approved budgets for Water and Transportation Services. 12. City Council direct the Deputy City Manager and Chief Financial Officer to include funding (currently estimated at $62 million) as part of the 2017-2026 Capital Budget Process for the City's 15 percent share of 5 grade separations. 13. City Council direct the Deputy City Manager and Chief Financial Officer to include $60 million in funding for the payment of the City's previously suspended 2015-2017 GO Capital Expansion payments as part of the 2017-2026 Capital Budget Process. 14. City Council direct the Deputy City Manager and Chief Financial Officer to: a. advance the development of the capital funding and financing strategy for SmartTrack, consisting of a combination of municipal tax increment, development charges, tax-supported debt financing, and other potential revenue sources such as a**et sales; b. engage capital market and legal consulting expertise in a**essing the appropriate debt structure for financing the SmartTrack project; and c. report back to Council with the implementation of this recommended strategy once the capital cost estimates have been refined to a Cla** 3 level and Council confirms its definitive commitment to the project.