City Contribution to Funding for the Toronto Waterfront

Revitalization Task Force (All Wards)

The Policy and Finance Committee recommends the adoption of the report (January 18, 2000) from the Chief Administrative Officer; and further that this project be approved prior to consideration of the 2000 Operating Budget:

The Policy and Finance Committee submits the following report (January 18, 2000) from the Chief Administrative Officer:

Purpose:

The purpose of this report is to secure $500,000.00 from the Corporate Contingency Account as the City's one-third share of funding for the Toronto Waterfront Revitalization Task Force.

Financial Implications and Impact Statement:

The Toronto Waterfront Revitalization Task Force is being funded equally by the federal, provincial and municipal governments. The City's share of this funding is $500,000.00 and should be allocated from the Corporate Contingency Account.

Recommendation:

It is recommended that City Council allocate $500,000.00 from the Corporate Contingency Account as the City's one-third share of funding for the Toronto Waterfront Revitalization Task Force.

Comments:

At a press conference held on November 3, 1999, Mayor Lastman, Premier Harris and Prime Minister Chrétien announced the Toronto Waterfront Revitalization Task Force. The Task Force was set up to develop a strategic business plan and make recommendations for the development of the Toronto waterfront.

The Task Force is chaired by Robert A. Fung, Senior Partner, Capital West Group. The other members are:

- Purdy Crawford, Chair of Imasco Ltd.;

- William Farlinger, Chair of Ontario Power Corporation Inc.;

- Ruth Grant, past Vice-Chair, the Waterfront Regeneration Trust;

- Steven Hudson, Chair of the Executive Committee for the 2008 Toronto Olympic Bid (TO-Bid);

- Rod Phillips, Chief of Staff for Mayor Mel Lastman;

- Mark Wilson, Chair, Task Force to Bring Back the Don (1989-1997); and

- Robert Wright, Chair of the Toronto Port Authority.

The Task Force responsibilities include:

(i) reviewing existing waterfront plans;

(ii) preparing an inventory of waterfront assets held by the three levels of government;

(iii) developing a strategic master plan that will combine open space, recreational, residential, commercial and entertainment uses;

(iv) examining infrastructure enhancement, including transportation, services, parks and environmental remediation;

(v) determining the required investment to implement the waterfront vision;

(vi) determining participation and partnership with the private sector through various partnership structures;

(vii) integrating 2008 Olympic bid requirements; and

(viii) recommending a process to oversee and co-ordinate waterfront development.

The Task Force will be reporting to all levels of government in February with its recommendations and will develop a detailed implementation plan between February and June 2000. The participation of all three levels of government emphasizes the importance of the Toronto Waterfront not only to the City but also to the Province and the Country. Because of this significance, all three governments are sharing the $1.5 million budget of the Task Force equally. The budget will be used to fund all the work of the Task Force, including all consultant studies.

To help prepare the plan, the Task Force has assembled a multi-disciplinary consultant team with a wealth of international and local experience. The consultant team is listed in Appendix 1 of this report.

The initial investment by government will be used to develop the plan which creates a framework and sets priorities for future investment by both the public and private sector. This approach has resulted in billions of dollars of investment in waterfronts around the world, such as New York City, London, England and Cape Town, South Africa.

The Toronto waterfront is one of the single largest opportunities in the world to implement a new waterfront plan. Toronto has a unique opportunity to revitalize its waterfront as:

(a) all three levels of government are working in partnership;

(b) hundreds of acres of land are already in public ownership; and

(c) large parcels of vacant and available land provide opportunities to attract a full range of uses.

Conclusions:

That $500,000.00 be invested from the Corporate Contingency Account as the City's contribution to the work of the Toronto Waterfront Revitalization Task Force.

_________

Appendix 1

Waterfront Task Force List of Consultants

BA Consulting

CG Consulting and Communications

City Formation International

Du Toit Allsopp Hillier

Financial Consultants

Fraser Milner

JVA Plan

KPMG

Kirkland Partnership

Koetter Kim

Barry N. Lyons Consultants Ltd.

Marshall Macklin Monaghan

Media Profile

Tempest Management Corp.

Urban Strategies