Recorded votes on PFC2021-1101

That with respect to Report PFC2021-1101, the following be approved: That Priorities and Finance Committee direct that this report be forwarded as an Item of Urgent Business to the 2021 July 26 Combined Meeting of Council and recommend that Council: Give first reading to Bylaw 9B2021, being a bylaw authorizing The City to incur indebtedness for financing the development of Phase 1 of the Arts Commons Transformation project (the Project); Give first reading to Bylaw 56M2021, being a bylaw authorizing a loan in the amount of up to $135 million to the Calgary Municipal Land Corporation; Direct Administration to amend and restate the existing Development Management Agreement among The City, Arts Commons, and the Calgary Municipal Land Corporation, assigning the Calgary Municipal Land Corporation as development manager for design and construction of the Project, Arts Commons as the project sponsor and operator, and The City as a primary funder and interested party; the agreement to contemplate the potential inclusion of a residential tower or other viable uses on the site subject to feasibility, and to delineate the funding requirements for the respective share of the Project capital costs among funders in a form and with terms acceptable to the General Manager Community Services, Chief Financial Officer and the City Solicitor and General Counsel; Direct Administration to amend, or amend and restate the existing credit agreement with the Calgary Municipal Land Corporation and any appropriate security for repayment of the indebtedness from Calgary Municipal Land Corporation. The form and terms of such amendments shall be in accordance with The Citys Credit Documentation - Loans and Loan Guarantees policy and subject to approval of Loan Bylaw 56M2021; Give first reading to Corrected Bylaw 58M2021, being a bylaw to amend 12M2019 by amending the interest rate charged on municipal loans made to Calgary Municipal Land Corporation; and Direct that Attachment 2 and Attachment 6 of Report PFC2021-1101 remain confidential pursuant to Sections 24 (Advice from officials) and 25 (Disclosure harmful to economic and other interests of a public body) of the Freedom of Information and Protection of Privacy Act to be reviewed upon execution of finalized agreements.