Building Investment, Finance and Audit Committee (BIFAC) Meeting - February 10, 2017

Agenda

1. Chair’s Remarks

Action: Information

Pre-read: Verbal Report (5 minutes)

Presenter: Chair

2. Consent agenda    

Approval of Public Meeting Agenda    

Action: Approval

Pre-read: Agenda

Presenter: Chair

Chair’s Poll re: Conflict of Interest

Action: Declaration

Pre-read: Agenda and Conflict of Interest Policy

Presenter: Chair

Confirmation of the Public Meeting Minutes of December 12, 2016 

Action: Approval

Pre-read: Minutes

Presenter: Chair

Business Arising from the Public Meeting Minutes and Action Items Update

Action: Information

Pre-read: Action Item List

Presenter: Chair

Procurement: Metrics

Action: Information

Pre-read: BIFAC:2017-03

Presenter: Senior Director, Procurement

Procurement: Contracts and Rosters

Action: Information

Pre-read: BIFAC:2017-04

Presenter: Senior Director, Procurement

Procurement: Direct Awards

Action: Information

Pre-read: BIFAC:2017-05

Presenter: Senior Director, Procurement

3. Report from Facilities Management

2017 Capital Plan: Additional $22M from Restricted Reserves

Action: Approval

Pre-read: BIFAC:2017-01

Presenter: Vice President, Facilities Management

2017 and 2018 SHIP-Funded Projects

Action: Approval

Pre-read: BIFAC:2017-02

Presenter: Vice President, Facilities Management

Update on Alexandra Park Section 37 Agreement Obligations 

Action: Information

Pre-read: Verbal

Presenter: Vice President, Development

TERMINATION

Minutes

The Building Investment, Finance and Audit Committee (“BIFAC” or “Committee”) of Toronto Community Housing Corporation (“TCHC”) held a public meeting on February 10, 2017 in the Main Floor Conference Room, 931 Yonge Street, Toronto, and by teleconference, commencing at 9:13 a.m. 

BIFAC Directors Present:

Colin Lynch, Chair 

Councillor Ana Bailão, Vice Chair 

Vincent Gasparro  

Kevin Marshman (via teleconference) 

Norman “Bud” Purves  

Management Present:

Leslie Gash, Acting Vice President, Development 

Mark Johnson, General Counsel and Corporate Secretary 

Rose-Ann Lee, Acting Chief Financial Officer and Treasurer 

Ted Millward, Legal Counsel, Corporate 

Sheila Penny, Vice President, Facilities Management 

Greg Spearn, Interim President and Chief Executive Officer/ Chief Development Officer 

A quorum being present, the Chair called the meeting to order and Mr. Steven Iserhoff served as recording secretary. 

Item 1 - Chair's Remarks

No remarks were made by Chair at this time.

Item 2 - Consent Agenda

Motion carried 

ON MOTION DULY MADE by Mr. Gasparro, seconded Councillor Bailão and carried, the BIFAC approved Consent Agenda Items 2A, 2C, 2D, 2E, 2F and 2G as presented. 

Item 2B - Declaration of Conflict of Interest

The Chair requested members of the BIFAC to indicate any agenda item in which they had a conflict of interest, together with the nature of the conflict. None were declared. 

Item 2C - Confirmation of the December 12, 2016 Public Meeting Minutes

The Committee enquired if Management has distributed a copy of the updated draft 2017 BIFAC Work Plan. Management advised that it has not yet been sent but noted they will send the document to the Committee offline. 

Motion carried 

ON MOTION DULY MADE by Mr. Gasparro, seconded Councillor Bailão and carried, the BIFAC approved the minutes with no amendments

Item 2D - Business Arising from the Public Meeting Minutes and Action Item List

Motion Carried 

ON MOTION DULY MADE by Mr. Gasparro, seconded Councillor Bailão and carried, the BIFAC received the item for information.

Item 2E - Procurement: Metrics, BIFAC:2017-03

Motion Carried

ON MOTION DULY MADE by Mr. Gasparro, seconded by Councillor Bailão and carried, the BIFAC received the report for information.

Item 2F - Procurement: Contracts and Rosters, BIFAC:2017-04

Motion carried 

ON MOTION DULY MADE by Mr. Gasparro, seconded by Councillor Bailão and carried, the BIFAC received the report for information.

Item 2G - Procurement: Direct Awards, BIFAC:2017-05

Motion carried

ON MOTION DULY MADE by Mr. Gasparro, seconded by Councillor Bailão and carried, the BIFAC received the report for information.

Item 3A - 2017 Capital Plan: Additional $22M from Restricted Reserves, BIFAC:2017-01

Sheila Penny, Vice President of Facilities Management, presented the award. 

The Committee noted that due to the Shareholder providing a larger subsidy than previously projected, they recommend TCHC allocate the 2016 operating surplus to reserve accounts for capital projects. Management noted this. 

The Committee noted that TCHC has allocated $2 million for heritage homes. Management noted that $2 million is the minimum required to maintain the homes in an acceptable condition.   

The Committee enquired how many heritage homes TCHC has in its portfolio. Management noted there are approximately 100 heritage homes in TCHC’s portfolio and noted that additional investment is required to improve the FCI of these properties.   

The Committee suggested that Management advise local councillors of the money TCHC will spend on buildings in their wards in 2017, so they are aware what buildings will undergo repairs. Management noted this request.

Motion carried

ON MOTION DULY MADE by Mr. Marshman, seconded by Councillor Bailão and carried, the BIFAC unanimously approved the following recommendation:

1. That BIFAC confirm the additional $22 million in capital envelope spend funded from restricted reserves as part of the $250 million approved 2017 Capital Plan

Second motion carried 

ON MOTION DULY MADE by Councillor Bailão, seconded by Mr. Gasparro and carried, the BIFAC unanimously approved the following recommendation be forwarded to the Board:

1. All 2016 Operating cash surpluses be put into reserves for capital repairs.

Item 3B - 2017 and 2018 Ship-funded Projects, BIFAC:2017-02

Sheila Penny, Vice President of Facilities Management, presented the award.

Motion Carried 

ON MOTION DULY MADE by Mr. Gasparro, seconded by Mr. Marshman and carried, the BIFAC unanimously approved the following recommendations:

1. Approve the full value of construction for multi-year projects funded from 2017 and 2018 confirmed SHIP funding; and
2. Authorize the appropriate staff to take the necessary actions to give effect to the above recommendation.

Item 4A - Update on Alexandra Park Section 37 Agreement Obligations (Verbal Report)

Leslie Gash, Interim Vice President of Development, presented the verbal report.

Management addressed the Committee’s request for clarification regarding the word “minimum” in the section 37 agreement in relation to the stated requirements for a community centre in Alexandra Park. Ms. Gash informed the Committee that she had met with the local councillor to discuss the obligations, and confirmed that the language in this section 37 agreement is consistent with language in other section 37 agreements.  The agreement states a minimum so that TCHC does not provide less than what is stipulated.

The Committee enquired if other upgrades to the community centre are to be implemented whether it is up to the City to locate the funds. Management confirmed that was the case.

The Committee thanked Management for their report. 

Motion carried

ON MOTION DULY MADE by Mr. Gasparro, seconded by Councillor Bailão and carried, the BIFAC received the verbal report for information

TERMINATION

The BIFAC resolved to terminate the public meeting at 9:39 a.m.