3

8.

The owner of the Property, Edge on Triangle Park Inc. (“Edge”) had agreed to create 2,800 square metres of space to be used for not-for-profit art and culture purposes for the benefit of the entire community (the “Arts and Culture Space”). In exchange for the creation of the Arts and Culture Space, Edge sought land use approvals from the City for additional height and density at the Property, and at a nearby property that it owned. Edge sought to build two towers at the Property, which would be nineteen and twenty-two stories, respectively, on a seven-storey podium, comprising a total of 660 dwelling units, or 181 units more than originally permitted. 9.

The creation of not-for-profit art and culture space at the Property would be consistent with the City’s goals in its Official Plan, as well as a report entitled Creative Capital Gains – An Action Plan for Toronto (which was adopted by City Council in May, 2011) to preserve affordable arts and cultural space. Edge proposed entering into an agreement pursuant to s. 37 of the

Planning Act,

R.S.O. 1990, c. P.13 with the City. Section 37 of the

Planning Act

authorizes increases in height and density beyond what would otherwise be permitted in exchange for the provision of services and facilities which are determined to be of benefit to the community. 10.