STANDING POLICY COMMITTEE DECISIONS IN BRIEF

SPC on Finance

7.1.3 Western Development Museum Parking Lot (Delegated Authority Matters)

*The Western Development Museum (WDM) has requested financial support from the City of Saskatoon to improve the parking lot at the Museum. The City currently leases the land to the WDM for $1/year; the market value of the lease is approximately $1.1 million. The Lease Agreement states WDM is responsible for the operation and maintenance of the parking lot.
*The Committee deferred consideration of the following motion to the next meeting of the SPC on Finance to provide an opportunity for the WDM to meet with the Province regarding their finding request and report back on those discussions:
"that the matter of a potential contribution to the $1.8 million parking lot project at the Western Development Museum be referred to the 2016 Business Plan and Budget deliberations to consider an amount that would take into consideration fundraising by the Western Development Museum and any cost-sharing by the Province."

7.2.3 Purchase of Abandoned Spur Lines from Canadian National Railway (Matters Requiring Council Direction)

*As rail companies change operations, portions of their rail system become redundant. CN has offered the City the opportunity to purchase portions of its rail system that have been deemed surplus to its operational needs. In addition to the direction from the Official Community Plan, the purchase of these lands would allow the City to increase its land holdings in the North Downtown Redevelopment Area and further enhance the ability to implement the proposed plan.
*This item will be reported to City Council on August 20, 2015 in support of the recommendations in the report (purchasing the spur lines in the North Downtown and Kelsey/Woodlawn areas for $2,235,000)

7.2.8 North Commuter Parkway and Traffic Bridge – Intent to Borrow (Matters Requiring Council Direction)

*At its meeting on March 31, 2014, City Council approved that the NCPTB project use a P3 delivery model, subject to the City’s approval of a funding application to PPP Canada. On June 9, 2014 the Government of Canada, through the P3 Canada Fund, announced a contribution of up to $66M, and the Province of Saskatchewan announced a contribution of $50M. At its meeting on June 9, 2014, City Council approved the funding plan for the NCPTB project and also approved that the Administration proceed with the Request for Qualifications (RFQ) stage of procurement.
*Administration will submit a report to City Council recommending that the planned Public Private Partnership range of borrowing from $109M to $122M, plus or minus a 10% variance, for the North Commuter Parkway and Traffic Bridge project (Capital Project 2407), through a capital asset financing agreement between the City of Saskatoon (City) and the Preferred Proponent be approved (such borrowing structured as payments to the Preferred Proponent over a period of 30 years, including to repay the capital costs of the project).