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From YouTube: Government Management Committee - June 5, 2018
Description
Government Management Committee, meeting 28, June 5, 2018
Agenda and background materials:
http://app.toronto.ca/tmmis/decisionBodyProfile.do?function=doPrepare&meetingId=13047
Meeting Navigation:
0:09:06 - Call to order
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Okay,
good
morning,
everybody
I
am
gonna.
Call
this
meeting
to
order
I
want
to
welcome
everyone
to
meeting
number
28
at
the
government.
Management
Committee
I
want
to
welcome
members
of
the
kin.
Welcome
to
members
of
the
committee
and
other
members
of
council
and
attendance
today
and,
of
course,
members
of
the
public
for
those
of
you
in
the
room
with
us.
There's
the
screen
in
the
back
corner.
A
That
provides
real-time
updates
concerning
where
we
are
in
the
gen,
the
agenda
and
what's
coming
up
next,
you
can
also
follow
the
agenda
and
debate
on
your
computer
tablet
or
smartphone
at
WRO.
Note
C,
a
backslash
counsel
on
behalf
of
the
government
management
committee.
I
would
like
to
gratefully
acknowledge
its
meeting
on
the
traditional
territories
of
the
Mississauga's
of
the
new
credit
first
nation,
the
Hana
to
the
Shawnee
and
the
hearin.
When
debt
and
the
home
to
many
diverse
indigenous
peoples,
are
there
any
declarations
of
interest
on
municipal
conflict
of
interest
Act?
A
A
A
A
A
A
Councillor
Shan
is
moving
it
on
favor
carried
number
seven.
Is
the
1901
Weston
Road
designation
of
a
portion
of
the
property
as
a
municipal
capital
facility,
councillor
Annunziata
we're
just
going
to
go
through
the
agenda
a
councillor
I,
don't
think
this
is
there's
any
issues
with
this,
but
councillor
Annunziata
wanted
to
speak
for
a
minute
to
this.
At
the
end,.
A
B
A
C
A
A
B
D
B
D
B
A
A
All
right
swear:
did
you
want
to
hold
number
eleven,
or
did
you
want
to
approve
number
eleven
counselor
Troi's
is
moving
number
eleven.
Oh
okay,
all
in
favor
carried
number
twelve
request
to
a
man
purchase
order,
number
six,
zero,
four
one:
nine
five:
zero
with
a
Caelian
limited
for
time,
attendance
and
scheduling,
system,
the
tasks
projects.
A
Anybody
want
to
hold
this.
Somebody
want
to
move
it
for
me:
counselor
Davis,
on
favor
carried
number
fourteen
non-competitive
contract
with
Reis
tech
company
incorporated
for
the
DRS
microfiche
scanner
replacement
and
annual
maintenance
and
support
anybody
want
to
debate
this
counselor
chance
moving.
It
I
saw
him
move
his
pencil.
All
favor
carried
number
fifteen
non-competitive
contract
with
the
Clerval
ranch
for
the
city
of
Toronto's
horseback
riding
program
at
the
Toronto
region,
conservation
authorities,
Clerval,
Conservation,
Area
councillor
Cole
want
to
move
it
all
right.
A
Anybody
want
to
approve
this.
Somebody
want
to
debate.
It
counts,
for
Davis
is
moving
this
all
in
favor
carry
number
seventeen
community's
faith
communities
phase
tenancy
lease
agreement
with
the
Ontario
Historical
Society
at
34,
Park,
View,
Avenue
and
municipal
capital
facility,
designation,
fronteira,
Historical
Society
councillor
Davis
was
that
Your
Enthusiasm
as
I
was
reading.
This.
B
A
A
Councillor
Davis
is
moving
the
recommendations
and
number
17
all
in
favor.
Carry
number
18
is
a
community
space
tenancy
lease
agreement
with
a
theater
pass.
Amy
arrived
at
16
Ryerson
Avenue
in
where
20
Kempster
shann's
moving
the
recommendations
on
favor
carried
number
19
communities,
phase
tenancy
lease
agreement
with
the
Children's
Peace
Theatre
at
305,
Dodds
Road,
and
a
municipal
capital
facility
designation
for
the
children's
piece
theater
in
Ward
31,
which
is
councillor
Davis's
ward,
I'll,
move
it
down.
Councillor
Davis
is
moving
adoption
in
the
recommendations.
A
Councillor
Cole's
mimei
it
all
in
favor
Gary
what
a
nice!
Oh
sorry,
number
21,
community
space,
tenancy
lease
agreement
with
the
senior
people's
resources
in
North
Toronto,
incorporated
known
as
sprint
at
140
Merton
Street
in
Ward
22
councillor
Cole's.
Moving
that
all
in
favor
of
the
recommendations
carried
number
22
is
a
community
space
tenancy
lease
with
the
storefront
Humber
incorporated
at
24:45
Lake
Shore
Boulevard
West
Ward,
six
councillor
Shanna's
moving
it
all
in
favor,
carried.
A
Number
23
is
a
conveyance
of
Brandon
Hill,
a
court
agate
court
by
Jack,
korte,
Polaris
Lane
part
of
our
now
drive
part
of
flemington
part
and
a
one
foot
reserve
at
the
rear
of
161
and
167
Rainey
Avenue
to
the
Toronto
Community
Housing
Corporation
for
inclusion
and
Lawrence
Avenue
revitalization
project
I
will
move
that
and
just
briefly
say
that
a
project
that
I
think
when
I
was
first
elected,
2010
an
incoming
mayor
said
it
would
be
canceled
on
its
first
day
and
right
now.
The
market.
B
A
A
A
Number
25
is
the
opportunities
to
utilize
car
share
technology,
solutions
on
city-owned
vehicles
in
a
whole
dot.
Okay,
it's
ready
to
come
to
Davis.
Do
you
want
to
hold
number
twenty-six
opportunities
to
incorporate
social
procurement
provisions
into
a
contract
for
electrical
services,
counselor
Davis.
E
A
I
can
we
can
hold
it?
It's
not
a
big
deal,
it's
okay,
all
right!
All
in
favor
of
the
recommendations
and
number
26
number
27
non-competitive
contracts
with
existing
vendors
for
the
extension
of
proprietary,
technological
maintenance
and
support
license
subscription
and
the
provision
of
professional
services.
A
Counselor
Cole's
moving
it
all
in
favor
carried
number
28
land
exchange
with
two
four
seven:
zero:
three
four
seven
Ontario
incorporated
known
as
Galleria
developments
for
city
land
forming
part
of
the
Wallace
Emerson
Park
in
community
center
1260,
Dufferin
Street.
This
is
in
Ward
eighteen
councillor.
Palacio
has
sent
me
some
correspondence.
I.
Think
all
of
us
wishes
to
defer
this
until
the
July
3rd
2018
meeting
of
the
government
management
committee,
all
in
favor
of
the
deferral,
Carrie
opposed
seeing
none
motion,
as
amended
all
in
favor
carried.
A
C
A
Number
30
establishment
of
a
French
language
University
in
Toronto,
an
update
and
I,
have
a
revised
recommendation
that
I
asked
legal
for
after
I
read
this
report.
I
had
some
questions
whether
this
was
in
the
purview
of
the
City
of
Toronto
and
they've
moved
some
recommendations
so
that
it
clarifies
our
support.
B
A
Okay,
I'm
fine
with
the
recommendations,
committees,
fine,
with
the
recommendations,
so
the
deputies
withdrawing
councillor
Cole,
is
moving
in
and
I'd
like
a
recorded
vote
on
this
one
as
well.
All
in
favor
of
the
recommendations
come
sir
Cole
come
sir
Ainsley
come
sir
Davis
councillor,
Shan
counselor
troi,
see
and
that
passes
unanimously.
A
We're
going
back
to
the
beginning
of
the
agenda
before
we
do
that
we
have
a
short
presentation
from
one
of
our
employees:
where's
Arthur,
where's,
Arthur,
hiding
Arthur,
come
on
up.
I
would
like
to
introduce
everybody.
If
you
haven't
met
Arthur
Dooku
Arthur's
started
with
the
City
of
Toronto
in
1978.
A
Shortly
after
receiving
his
MBA,
he
started
his
career
in
finance.
I
believe
he's
worked
with
counselor
Troi's
II
as
well,
and
has
done
just
about
everything
here
is
to
do
as
well
as
spending
a
significant
amount
of
time
in
the
parks
department
he's.
Currently,
the
manager
of
general
ledger
services
and
accounts.
Receivable
he's
been
responsible
for
every
significant
costing
exercise
that
has
resulted
in
the
city
getting
reimbursements
from
other
levels
of
government,
including
during
the
a
storm
and
the
g20
summit.
A
A
B
F
B
A
A
A
A
Okay,
all
right
mr.
care
of
Arthur.
Can
we
do
that
now
sure,
let's
take
care
of
it
now,
so
we
did
vet
the
agenda
counselor
bylaw
got
held
up
in
traffic,
which
happens.
We're
just
gonna,
go
back
to
number
28,
which
so
I
need
a
motion
to
reopen
number
28,
which
is
in
councilor
viola,
ward.
Councillor
Cole
is
moving
to
reopen
it
and
then
so
we
have
the
recommendations
in
the
report
before
us.
A
G
B
A
B
B
They
have
been
paying
rent
to
Toronto
housing
for
all
these
years,
and
so
and
that's
the
reason
for
the
report
is
to
help
them
because
of
the
the
financial
state
that
they're
in
if
they
have
to
continue
and
pay
increase
rent
at
this
facility.
So
I
want
to
thank
staff
from
meeting
with
them
and
as
well
bringing
this
report
forward.
It's
greatly
appreciated
and
I
like
to
ask
for
a
recorded
vote
to
remove
the
recommendation.
B
A
Thank
You
councilman
zyada,
just
as
a
formality
up
to
ask
if
there's
any
questions
of
staff
on
this
item,
seeing
none
and
none
for
the
mover,
seeing
none
and
council
Annunziata
I
just
want
to
acknowledge.
You
did
thank
the
stop,
but
I
think
you
need
some
words
of
acknowledgement
as
well
for
all
the
hard
work
that
you
did
for
this
on
behalf
of
your
community
and
I'm
sure
they're,
very
the
representatives
are
here
but
I'm
sure
your
community
needs
to
know
the
hard
work
that
you've
done
on
this
file
as
well.
A
A
A
Stay
with
us
there
we
go
number
one
cancellation
reduction
or
refunded
property
taxes
as
a
June
5th
2018.
Hearing
I
need
to
ask
if
anybody
wants
to
is
in
the
room
that
wants
to
make
a
deputation
on
this
item.
Does
anybody
here
that
wants
to
make
a
deputation
on
item
number
one?
And
if
there's
anybody
in
the
room
that
wants
to
make
a
presentation
or
a
deputation
on
item
number
one
seeing
none
I
do
have
an
amendment
to
this
item.
A
D
Been
three
years
the
bags
have
now
depleted
so
good
morning
through
you,
mr.
chair
to
the
committee
first,
some
introductions,
most
of
the
committee
know
us
know
myself.
Two
counselors
I,
don't
believe.
I
ever
have
met
Joe
Penna,
Chetty,
former
city
manager,
CFO,
your
representative
on
warmers
board,
David.
D
I'd
also
like
to
make
a
few
introductions
of
staff
that
are
here
in
case
there's
any
detailed
questions.
Mr.
chair
later
on,
firstly,
Blake
Hutchison
president
and
chief
pension
officer,
Jonathan
Simmons
CFO
for
OMERS,
paula,
rita
CEO
for
the
sponsors
corporation
and
chris
van
and
a
vice
president
pension
strategy
and
governance
for
the
sponsors
corporation,
as
well
as
jason,
pope
manager
of
stakeholder
relations.
D
So
with
that
background,
I
we're
here
really
to
give
you
an
update,
as
per
the
title
of
the
report
and
in
a
presentation
to
ensure
that
annually
we
fill
you
in
as
to
where
things
are
at
with
rumors
in
terms
of
key
strategic
issues.
I'll
provide
a
brief
overview,
some
background
for
committee,
just
a
few
slides,
then
David
will
highlight
the
2017
financial
results
and
then
I
will
come
back
with
an
update.
Our
plan
review
related
to
OMERS
so
as
quickly
as
possible.
D
Hopefully
15
minutes
some
background
first,
especially
the
new
counselors
that
may
have
not
seen
this
we've
got
a
little
different
structure
at
OMERS
two
boards,
the
first
one
I'll
deal
with
on
the
right
or
sponsors
corporation
effectively.
The
board
is
responsible
for
the
governance,
part
of
decision-making,
appointing
board
members,
setting
contribution,
reads
and
plan
design,
there's
14
board
members
70s
from
employee
and
employer
sponsors
to
co-chairs.
D
In
fact,
the
one
co-chair
is
Frank
from
Danielle
the
head
of
Toronto
firefighters
association,
he's
representing
the
Ontario
fighter
fighter,
firefighters
associations,
the
other
co-chair
is
from
a
mall
on
the
left-hand
side
is
what's
referred
to
as
the
administration
corporation
15
board
members,
again
7
each
employee
employer
and
an
independent
chair,
George
cook.
With
an
exceptional
background.
D
The
AC
board
is
responsible
for
the
day-to-day
pension
administration,
most
importantly
or
as
importantly,
investments
and
planned
valuation
in
terms
of
hours
itself,
one
of
the
largest
pension
funds
in
terms
of
members
in
Canada,
firstly,
important
to
note
the
size
with
the
482,000
active
members
on
the
right
hand,
side
you'll
see
their
283
thousand
pensioners
a
hundred
and
fifty-four
thousand,
as
we
call
it
active
retiree
ratio
of
about
two
to
one.
In
the
left
hand
side
you
see
the
members,
a
thousand
you
Nyssa
pala
T's
libraries,
please
fire.
D
Our
local
agencies
that
fall
under
municipalities,
but
also
included
in
armors,
are
the
non
teachers
staff
within
school
boards
across
Ontario
and
the
Children's
Aid
Society.
So
it's
primarily
municipal
members
and
related
agencies,
but
also
includes
some
that
fall
under
the
wing
of
the
province
as
you'll
see
they're,
largely
full-time
workers,
but
growing,
as
you
all
know,
part-time
membership
and
average
age
and
average
age
of
pensioners.
There
I
would
be
talking
a
lot
about
how,
as
you
well
know,
our
membership
is
aging
and
then
finally
2015.
D
The
board
approved
a
2020
strategy
that
was
effectively
moving
on
planning.
Sustainability
was
the
ultimate
overarching
goal
with
four
major
pillars:
fundings
to
enhancing
or
increasing
our
funding
status.
That
will
speak
to
you
in
a
few
minutes:
a
target
of
7
to
11
percent
net
investment
returns,
building
relationships
within
membership,
as
well
as
with
sponsors
and
we're
finding
our
business
model.
With
that
background,
mr.
chair
I'll
turn
it
over
to
David
to
walk
through
the
2017
results.
G
Thank
you
Joe,
and
thank
you
for
the
opportunity
to
present
our
annual
returns
and
the
long
term
conservative,
investing
evaluation
processes
that
we
take
very
seriously
I'm.
Also
a
member
of
the
investment
committee
so
see
all
the
major
investments
over
five
hundred
million
dollars.
Last
year
we
had
a
good
return.
It
was
11.5%.
G
The
total
assets
of
the
fund
grew
to
95
billion
and
the
smooth
funded
ratio
improved
by
1%
to
94.
That's
about
a
10
billion
dollar
increase
in
the
assets.
The
fund
is
rated
by
the
rating
agencies
very
high,
literally
two
notches
above
the
province
triple-a
by
both
DB
RS
Moody's
and
Double
A,
plus
bi
S&P.
It
is
the
fifth
consecutive
year
that
we've
had
improvements
and
returns
you'll
see
over
the
longer
term,
we're
quite
pleased
with
the
three
and
five-year
net
return,
average,
the
ten-year
catches,
the
2008
2009
financial
crisis.
G
G
So
that
would
be
certain
types
of
bonds
and
equities,
as
you
would
traditionally
consider,
then
there's
a
very
large
private
portfolio,
which
includes
both
the
Oxford
property
real
estate
group
that
Blake
used
to
head
up
the
infrastructure
group,
which
is
power,
pipeline
utility
transportation
assets
and
finally,
a
private
equity
group,
which
is
roughly
split
50
percent
between
North
America
and
Europe
in
terms
of
geographic
distribution,
we're
a
little
over
a
third
in
each
of
Canada
and
the
United
States
and
was
at
25%
in
the
rest
of
the
world.
We
opened
an
office
in
Singapore.
G
Last
year
we
have
staffed
it.
We've
put
some
very
senior
people
there
to
source
some
of
the
higher
faster
growth
opportunities
in
Asia.
We
tend
to
do
those
with
high
quality
partners,
whether
out
of
Japan,
the
Singapore
investment
funds,
GIC
and
tamasic.
On
the
next
slide,
you'll
see
the
improvement
in
the
funding
ratio.
This
is
the
fifth
consecutive
year
that
it
has
improved.
The
upper
line
shows
the
actual
market
to
market
value,
so
without
any
smoothing
over
a
five-year
period,
which
is
the
way
the
actuaries
insist
that
these
things
are
calculated.
It's
it's
back
to.
G
G
So
the
target
is
to
improve
that
to
3.75
percent
in
2025
I'd
like
to
stress
that
the
2020
strategic
plan
we
are
right
on
target
for
and
we
are
developing
22
five
and
2030
plans,
so
this
fund
really
has
to
look
30
40
years
ahead.
As
you
saw
from
that
wonderful
employee
who
just
retired,
you
need
a
very
long-term
perspective
in
Blake
and
Jonathan,
and
their
team
are
committed
to
that.
A
G
The
challenge
on
infrastructure
is
finding
assets
with
acceptable
returns.
These
days,
there's
a
number
of
there's,
probably
a
hundred
billion
dollars.
Our
infrastructure
book
is
about
15
billion
of
equity,
which
is
levered
two-to-one.
So
it's
about
30
billion
dollars
worth
of
assets.
It
is
split
roughly
equally
between
North
America
and
Europe.
G
We
like
Canadian
projects
if
they're
available,
so,
as
you
know,
we're
biggest
single
asset
is
in
the
province
of
Ontario
and
it's
a
half
interest,
or
a
little
less
than
half,
with
TransCanada
at
Bruce
nucular,
which
is
being
refurbished
right
now,
and
a
15
billion
dollar
program
providing
30
percent
of
the
electricity
to
the
province,
and
it
has
a
50-year
PPA
with
the
provinces
electrical.
If
so,
we
do
actively
look
at-at
these
assets.
We
looked
at
a
piece
of
407.
Recently
we
own
an
asset
which
connects
the
railway
tunnel,
which
connects
Windsor
to
Detroit.
G
G
B
B
G
G
Just
to
give
you
a
feeling
we
had
over
almost
three
billion
dollars
worth
of
infrastructure
proposals,
put
up
an
investment
committee
in
the
last
month
and
a
half
we
won
one
I,
don't
think
it's
public,
yet
the
one
in
know.
We
won
one
for
sure
yeah.
We
almost
got
a
scoop
there
and,
where
we're
negotiating
to
acquire
another
one
again,
it's
a
tricky
seller.
So
we
literally
will
look
at
six
different
proposals
and
there's
so
much
competition
in
the
space
that
you
might
win.
G
One
or
two
three
would
be
a
great
result,
but
it's
a
trade-off
between
how
lower
return
or
IRR
do
you
want
to
bid
versus
deploying
capital?
You
can
willy-nilly
deploy
capital
at
6%
to
get
eight
nine
10
you
know
achieve
the
funding
status
is
the
trick
and-
and
there
is
an
exceptional
group
of
people-
Toronto
New,
York
London.
They
work
on
these
projects,
I'm
very
impressed
Thank.
B
G
E
H
So
we're
long-term
investors
and
obviously
managing
investment
risk
is
critical
to
us
and
so
for
us,
we
look
at
long-term
investments
through
the
ESG
lens
through
the
lens
of
environmental,
social
and
governance
factors.
So
governance
factors
are
how
well
is
the
asset
govern?
Do
we
have
the
right
governance
in
place
to
be
able
to
manage
that
asset
appropriately?
H
Social
factors
include
the
impact
that
investments
might
have
on
the
communities
in
which
they
operate
and
environmental
factors
are
those
impacting
our
environment,
and
so
our
approach
is
that
each
of
our
teams,
as
we
evaluate
each
asset,
look
through
those
three
lenses
at
the
assets,
both
at
the
time
we
invest
and
throughout
the
time
that
we
manage
the
asset
to
ensure
that
all
of
those
risks
are
being
appropriately
managed.
So.
E
B
D
B
B
B
You're
right,
it's
an
evolution
and
it's
been
in
recent
years.
We've
been
pretty
proactive,
the
best
way,
private
equity.
We
tend
to
control
our
investments
and
one
of
the
sibs
at
the
board
is:
are
there
opportunities
to
do
that
and
the
flip
side
is?
Are
we
embarrassed
by
anything
that
is
being
done
here
that
doesn't
get
caught
by
good
and
best
practices
and
we
don't
invest
in
things
that
would
cause
us
any
embarrassment
and
we
do
invest
in
lots
of
businesses
where
there's
an
opportunity
to
get
good
at
those
things.
It
is
an
evolution
not.
E
B
H
Let
me
let
me
help
so.
For
example,
we
haven't
approached
it
on
every
private
market
investment
where
we
sit
on
the
board.
We
insist,
because
we
have
a
seat
on
this
boards
of
those
boards
of
directors,
that
a
conversation
takes
place
in
each
of
those
board
rooms,
on
the
very,
very
issues
that
you
described,
that
is
bringing
our
influence
to
bear
on
the
asset.
I'll
give
you
an
example:
I
was
visiting
an
asset
recently,
it's
it's
actually
in
South
America.
H
The
asset
is,
is
a
very
major
employer
in
the
region
of
it
operates,
and
so
that
asset
in
order
to
secure
its
sustainability
for
our
pension
and
to
continue
operating,
can't
take
its
operating
license
for
granted.
It's
working
with
the
community
around
creating
sustainable
communities
where
the
the
the
former
industry
in
that
area
has
fallen
away,
and
this
is
a
creator
of
great
sustainable
jobs
for
that
community.
Its
restored
the
environment
around
it.
So
it's
ensuring
that
it's
having
a
very
positive
impact
on
the
environment
around
it.
H
It's
working
with
the
education
system
in
that
community
to
ensure
that
the
right
young
brains
come
forward
who
are
able
actually
to
supply
us
with
the
right
workforce
into
the
future.
So
it's
multi-dimensional,
it's
active
anything
starts
with
our
seat
and
the
influence
that
we
have
on
those
boards
of
directors.
So.
E
H
H
So,
for
the
very
first
time
in
2017,
OMERS
actually
integrated
into
our
annual
report
a
report
on
sustainability.
So
so
it's
new
as
Blake
says
it's
evolving,
we're
taking
steps
and
so
actually
I'm
very
proud
of
what
we
didn't
in
17.
So
if
you
take
a
look
at
the
annual
report,
you'll
see
a
much
deeper
analysis
than
you
would
have
seen
in
previous
years.
We're
making
good
progress
at.
G
The
board
level
it
is
discussed
in
almost
every
investment.
There
were
a
number
of
members
on
the
board
where
it's
the
only
important
topic,
in
addition
to
the
Bruce
nuclear
clean
power,
we
just
bought
our
first
major
wind
renewable
platform
in
North,
America
I.
Believe
the
US
at
Jonathan's,
talking
about
in
South
America,
is
a
liquefied
natural
gas
D
gasification,
which
allows
Chile
to
produce
its
electricity
with
natural
gas
instead
of
coal.
It
is
a
consistent
theme
across
the
investing
platform.
G
It
comes
up
in
virtually
every
memo
and
presentation,
and
then,
if
there
is
a
concern,
it
is
actively
raised.
That
board
is
not
shy
about
bringing
things
up
personally
I
stirred
something
up
this
week.
You
know
you
have
to
I
guess
to
an
extent,
trust
that
the
various
representatives
will
do
that
and
remember.
In
addition
to
the
bicameral
board,
you
have
a
lot
of
Labor
and
organization
people
actually
on
the
owners
board.
So
they
are.
They
are
kept
on
us
by
that
board.
At
the
end
of
the
day,.
A
G
G
A
G
Correct
this
year,
just
add
a
note
of
caution
and
everyone
has
seen
it.
The
equity
market
has
returned
to
a
level
of
volatility.
You
know
where
it
went
up,
10%
in
January
down
10%
in
February
and
has
been
mixed
to
roughly
even
over
the
remainder
of
the
year.
So
you
know
we
have
a
plan
of
7.3%
this
year.
All
the
private
side
are
performing
exactly
according
to
plan.
You
know
and.
G
The
difference
between
the
actual
mark
to
market
value
of
all
the
investments
on
December
31st
and
the
actuarial
five-year
smoothed
there's
a
conservative
approach
used
by
the
actuaries
to
take
a
five-year
smooth.
So
the
last
couple
of
years
we've
had
nine
and
a
half
ten
yeah.
It's
increased
every
year
that
last
one
for
the
last
three
closed.
But
you
know
it
was
two-and-a-half
in
11
and
six
in
13.
G
You
know
there
have
been
some
challenging
years
and
it's
a
combination
both
of
interest
rates
going
up
and
the
equity
markets
getting
choppy
when
when
those
returns
have
been
difficult.
So
just
a
note
of
caution
on
the
first
five
months,
very
strong
on
the
private
side
or
mixed
on
the
public
market
side.
A
And
then,
in
terms
of
maybe
this
has
covered
already
so
the
asset
next
majority
of
the
assets
or
investments
or
North
America
that
I've
been
reading.
So
you
homers
or
Omer
ventures,
been
making
investments
in
Mumbai
Berlin,
most
recently,
I
think
in
Europe
there
was
an
investment
in
a
logistical
company,
but
I
don't
see
a
lot
of
investments.
Looking
in
the
renewable
energy
areas
there
we.
G
Did
announce
believe
a
700
million
dollar
US
investment
in
a
company
called
leeward,
which
is
a
large
renewable
wind
platform,
we're
delighted
to
have
that
it
can
be
built
upon
and
they
have
many
projects
in
the
development
pipeline.
The
European
investments
and
Jonathan
help
me
are
almost
a
hundred
percent
edged
in
the
foreign
exchange
side
correct.
So
we
have
a
very
cautious
view
of
the
problems
occurring
in
Italy
and
with
brexit
and
the
turmoil
there.
So
the
investments
are
all
heads
back
to
Canadian
dollars.
G
A
G
Actually,
over
the
next
10
years,
the
2030
plan
will
have
an
objective
going
through
the
Singapore
office
to
make
large
high-quality
investments
in
higher
growth
economies
in
Asia.
So
you
know:
you'll
see
that
currently
only
Jones
to
3%,
that's
their.
You
know
head
towards
10%.
Okay,
that's
correct!
All.
D
A
D
A
D
Okay
through
you,
mr.
chair
I'll,
just
continue
their
planned
sustainability
and
there's
been
reference
to
the
2020
strategy
that
was
approved
in
15
and
basically
at
this
point
in
time
we
are
working
on
pulling
together
our
2030
strategic
plan
and
the
prime
focus
of
that
plan
is
plan.
Sustainability
wanted
to
highlight
history
regarding
OMERS
that
many
people
do
not
realize,
and
one
of
the
reasons
why
we
are
talking
about
playing
sustainability.
D
Omers
was
set
up
in
1963
this
chart
that
takes
a
bit
to
digest
the
I
call
it
the
the
mountain
range.
That's
in
that
gray
reflects
the
funded
status
of
farmers
since
inception,
and
we
were
very
healthy
colored
in
the
20th
century,
from
63
to
92
the
late
90s
generally
above
funded
status,
meaning
over
a
hundred
percent
funded,
which
is
what
a
pension
plan
should
be
at
work.
D
Life
should
be
at
to
ensure
that
you
can
absorb
the
downturns
that
you
see
occur
over
the
decades
and,
of
course,
what
happened
in
the
late
90s
is
the
contributions.
Wreaths
were
resulting
sorry.
The
investments
were
substantive
in
the
late
90s
mid
to
late
90s,
the
board
of
the
day,
with
a
hundred
and
twenty
five
percent
funding
decided
to
actually
have
a
moratorium
on
contribution
rates.
Many
of
the
counselors
that
are
here
and
the
staff
will
remember
this.
D
The
problem
was
there
was
a
perfect
storm
right
after
that,
with
a
huge
economic
downturn
which
he
you
can
see
there.
So
you
had
the
whammy
of
no
contributions
coming
in
to
the
plan
for
two-plus
years,
combined
with
our
earnings
on
the
fund
itself,
dropping
drastically
to
the
point
where
in
2005,
as
you
can
see,
we
were
below
100%
funding
and
creeping
up,
barely
above
ninety
percent.
The
result
at
that
point
in
time,
in
order
to
get
funding
back
up,
was
a
dramatic
increase
in
contribution
rates
that
you
can
see
there.
D
So
the
right-hand
side,
those
lines,
those
red
and
blue
lines
are
the
contribution
rates
for
the
various
categories
that
we
have
and
the
funding,
as
has
been
highlighted,
has
been
come
coming
back.
As
you
see,
in
the
last
five
years,
staff
on
armors
team
have
done
an
incredible
job
to
get
us
back
up
to
that
95
percent
that
David's
been
talking
about.
D
I
wanted
to
make
sure
you
understood
this,
that
we
are
well
below
where
we
were
two
decades
ago
and
in
comparison
we
are
always
looking
to
benchmark
ourselves
against
other
Ontario
plans
and
and
Canadian
and
and
world
wide
and
again,
on
the
right
hand,
side,
you'll,
see
armors
and
I
would
focus
on.
What's
called
standardized
comparison
that
adjusts
the
discount
rate
to
kind
of
an
what
the
plans
are
at
3.25%
and
when
you
do
that,
whether
it's
reported
or
standardized
warmer
still
is
underfunded
relative
to
other
plans.
D
We
are
in
that
range
of
night,
actual
smoothes
ratio
of
that
94%
that
David
covered
when
you
standardize
based
on
adjusted
discount
rates,
were
actually
lower
around
90%
and
most
of
the
stronger
I'll
call
best
practice.
Funds
are
in
that
hoop
teachers
area
where
they're
they're
already
at
a
hundred
and
twenty
one
percent
etc,
and
they
are
actually
looking
to
reduce
contribution
rates
in
terms
of
our
long-term
sustainability
objectives.
We've
got
five
key
factors
that
are
impacting
us
nothing
earth-shattering
here.
They
all
are
issues
and
challenges
that
we've
highlighted
in
the
past
plan
maturity.
D
So
we're
our
active
to
retirees
is
going
down,
there's
more
retirees
that
puts
more
pressure
on
our
liabilities,
we're
living
longer.
So
the
liabilities
of
caring
pension
plans
and
funding
your
pension
plans
into
the
80s
and
90s
Cree's
pressures
in
terms
of
liabilities,
economic
factors
every
eight
to
ten
years.
We
normally
have
a
downturn.
We
have
something
imminent
that
will
probably
occur.
Hence
the
reason
for
having
surplus
funding
in
pension
plans,
workforce
trends
full-time
to
part-time.
D
Sustainability
is
a
very
simple
concept,
but
it's
very
difficult
to
deliver
on
your
balancing
the
the
pressures
of
providing
enhanced
benefits
and
pension
plans
to
trying
to
keep
it
to
a
reasonable
range
of
costs.
You
have
guiding
principles,
most
importantly,
the
security
of
the
plan
and
that
pension
for
our
pensioners,
the
affordability
and
the
equity
to
all
members
and
again,
the
challenge
really
is
maintaining.
As
best
we
can.
The
range
of
benefits,
along
with
maintaining
a
reasonable
cost
level
relative
to
finding
that
pension
plan
by
our
employees
and
obviously
the
pressure
to
the
employers.
D
D
There
will
be
a
decision
and
we
call
it
a
decision
in
principle.
At
the
end
of
June
by
the
sponsors
corporation
board,
the
one
that
I
sit
on,
we
will
in
effect
table
a
potential
adjustment
to
design
of
our
plan
for
consideration
by
employees
and
sponsors
will
communicate
that
and
look
for
input
between
June
and
October
and
with
no
ultimate
final
decision
on
any
possible
changes
till
November.
It
will
be
the
end
of
November.
So
at
this
stage
there
is
actually
nothing
before
the
board
that
has
has
been
tabled
for
this.
D
That
will
happen
at
the
end
of
this
month.
Finally,
a
quick
update
on
the
clothes
plans
for
many
of
the
Borah
committee
members.
A
year
ago,
the
City
of
Toronto
and
again
thank
you
for
the
support
through
committee,
along
with
umbers
agreed
to
transfer
the
five
closed
plans
that
pre
OMERS
plans
to
owners.
D
We've
been
working
very
closely
with
staff
and
I
want
to
thank
staff
for
all
the
work
they've
done
in
the
clothes
plan.
Long
journey
I'll
call
it
because
there's
lots
of
regulation
legislation.
Each
plan
is
a
little
different
and
we
knew
that
it
would
take
time
the
York
plan
we
hope
to
have
approved
and
and
transferred
and
operational
Under
Armour's
by
the
end
of
this
year
at
the
latest
in
early
nineteen.
The
other
plans
moving
forward
realistically
in
19
and
and
20,
and
with
that
mr.
D
D
E
D
Inclusive
of
contribution
rates,
inclusive
of
all
of
your
makeup
of
that
plan,
everything
the
base
and
an
inclusive
of
the
chairs
comment
related
to
index,
and
we
are
looking
at
everything
that
does
not
mean
it
and
I
know
it
will
not
mean
a
changed,
comprehensive,
complete
change
on
every
aspect
of
the
plan.
We
are
looking
at
components
that
that
that
will
make
a
difference
in
sustainability.
So
I
want
to
counsel
just
emphasize
my
earlier
slides
before
I
get
into
planning
design.
We
do
have
to
increase
our
if
we
are
running
at
a
deficit.
D
We
are
6%
short
of
running
in
a
surplus
position,
pension
plans
in
order
to
ensure
long-term
sustainability
to
ensure
that
the
monies
are
there.
20
years
from
now,
when
we
have
virtually
a
one-to-one
ratio
of
active
members
to
retirees
with
less
flexibility,
to
have
adjustments
to
ensure
that
we
have
the
money
for
all
retirees,
we
have
to
look
in
the
long
term
to
look
at
how
we
can
get
back
up
to
110
and
120
percent.
D
E
D
I
want
to
emphasize
my
last
few
slides.
That
said,
the
challenge
is
both
sides
of
the
equation
as
usual,
no
different
than
that
the
City
of
Toronto,
the
revenues
and
the
expenditures
and
and
the
design
is
the
expenditure
side,
the
the
investments
in
our
lattice
of
revenue
side.
We
are
earning
at
record
levels,
but
what
I
most
fear
is
there
will
be
a
downturn
there.
We
will
be
hit
with
ten
to
fifteen
percent
downturn
in
markets.
We
have
as
referred
to
a
six
billion
dollar
reserve,
so
we
can
absorb
some.
D
But
if
we
get
hit
hard
like
2008,
then
we
don't
have
anything
there
and
my
fear
is
that
we'll
fall
back
down
to
90
percent
or
lower
again
within
a
couple
years.
If
there
is
a
downturn
and
we'll
take
another
10
or
20
years
to
get
back
up
to
that
funding
level
that
we
need
to
have
to
be
sustainable,
which
is
why
we
have
to
look
at
the
design
of
the
plan
itself
sounds.
E
D
Say
bluntly,
that
we
don't
believe
because
at
this
point
in
time,
on
the
contribution
rate
side,
we're
basically
at
the
within
1%
of
the
level
set
by
the
owners
board,
that
the
board
does
not
really
want
to
go
there.
We're
trying
to
avoid
that,
because
we,
you
saw
the
rates
there
and
our
rates
are
literally
at
the
higher
end,
comparable
to
all
other
pension
plans,
the
faster
we
get
up
to
hundred
and
ten
percent
funding
the
faster
you
can
start
looking
at
reducing
the
contribution
rates.
So
we
don't.
D
D
D
B
A
Other
questions
on
this
presentation:
no
okay,
I
have
a
few
so
I'm
just
trying
to
understand
so
trying
to
I
guess,
get
costs
or
understand
the
costs.
The
when
I
was
reading
the
annual
report
Joe
or
mr.
panic
caddy
the
Ulmer
sponsored
Corps.
My
understand
that
cost
to
operate.
It
was
2.3
million
dollars
last
year.
A
B
D
D
A
A
H
There
wasn't
a
downgrade,
you
know
MERS
credit
rating,
but
it
was
moved
from
triple-a
with
stable
to
triple-a
with
a
negative
outlook,
so
the
triple-a
rating
was
maintained
that
was
linked
to
the
credit
rating
agencies,
view
of
the
rating
of
the
province
of
Ontario,
and
so
in
the
the
mind
of
the
credit
rating
agency,
there
is
a
link
between
OMERS
and
the
province.
I
think
that
that
link
personally
is
remote,
but
that's
their
approach.
Okay,.
A
H
So
I
meet
with
the
credit
rating
agencies,
at
least
annually
part
of
the
story
that
the
credit
rating
agencies
that
we're
explains
the
credit
rating
agencies
is
the
improvement
in
our
funded
ratio.
We
are
operating
the
plan
at
a
very
conservative
level.
Our
recourse
debt
leverage
is
under
10%
of
the
of
the
plan
fund
assets
and
we
intend
to
continue
to
maintain
our
leverage
at
those
very
low
levels
going
into
the
future.
A
B
E
D
The
only
clarification
I
wanted
to
make
through
you,
mr.
chair,
is
there.
There
won't
be
options.
There'll
be
one
table
of
recommendations
from
the
board
in
terms
of
any
change
at
all.
There
won't
be
two
or
three
options
that
that
had
been
occurring.
You
know
my
and
I
apologize
for
possibly
confusing
mr.
Frey,
so
that
it
will
be
an
option
for
consideration
by
all
sponsors.
Employers
that
you
would
respond
to.
It
simplifies
the
consider
the
possibility
that
we
were
at
one
point
looking
at
options
to
be
tabled,
but
we're
simplifying
that
what's.
E
B
E
A
Okay,
I
want
to
thank
everybody
from
OMERS
for
coming
in
you
know,
was
the
I
think
it's
it's
very
important
that
we
and
the
reason
I
did
this
when
I
was
first
chair,
the
government
management
was
I.
Think
it's
important
that
we
have
a
review
of
OMERS
on
an
annual
basis.
Omers
you
know,
is
you
know,
that's
where
our
pension
funds
are
going
not
only
as
counselors
and
politicians
but
all
of
our
staff?
A
It's
you
know
how
we're
hoping
we're
gonna
look
after
our
families
when
we
retire
and
homers
has
certainly
branched
out
since
its
first
operated
in
1963.
As
you
can
see
from
the
charts,
you
know
it's
not
just
investments
in
Canada
in
Ontario
and
cities,
it's
in
North
America,
it's
branching
out
throughout
the
world.
I
think
you
know
the
stable,
very
stable
investment
platform,
but
one
of
the
concerns
I
do
have
similar
to
councillor.
Davis
is
around
the
D
indexing
pensions.
We
have
a
city
council
meeting
in
June.
A
We
have
one
in
July
and
then
we
don't
have
another
meeting
until
January
and
so
I
do
have
a
motion
that
I
am
moving,
that
City
Council
advise
OMERS.
That
it
opposes
the
proposal
to
D
index
pension
payments
and
benefits
to
its
retiring
members.
City
Council
directs
its
appointed
representatives
of
OMERS
to
urge
owners
to
remove
consideration
the
D
indexing
of
pension
payments
and
benefits
to
its
erm,
retiree
members
from
its
present
plan
and
benefits
review.
A
So
this
motion
will
bring
this
item
before
City
Council
in
June
I
think
it's
appropriate
when
we're
talking
about
the
possibility
of
D
indexing
pensions
that
this
be
dealt
with
on
the
floor
of
Council
and
not
just
before
the
government
management
committee.
If
you
see
armours
does
have
a
plan
to
erase
the
funding
gap
by
2025
but
at
the
same
time
their
rate
of
return
on
their
investments,
which
is
great,
eleven
point
eight
percent,
but
that
equates
to
a
ten
billion
dollar
investment
income
return
on
any
on
an
annual
basis.
A
So,
when
I
look
at
those
numbers
and
the
investments
that
OMERS
is
making
not
only
in
Canada
the
US
and
around
the
world,
I
think
that
looking
at
D
indexing
our
pensions.
The
reason
that
OMERS
ultimately
is
able
to
make
those
investments
is
for
the
contributions
that
are
made
by
the
members
of
the
plan,
which
are
the
number
of
our
city.
Employees,
not
only
us
and
I,
think
we
have
an
obligation
to
look
after
our
employees
and
and
make
our
position
known.
A
E
First
of
all,
I
will
speak
and
I
fully
support.
Councillor
Ainsley's
motion
I'm
disappointed
that
if
there
has
been
consultation
going
on
for
months
that
we
haven't
had
any
opportunity
formally
as
elected
officials
to
make
a
contribution
to
that
discussion,
and
here
we
are
one
month
before
the
end
of
term
being
asked
to
somehow
provide
a
reasonable
response
to
such
a
significant,
potentially
significant
change
in
our
pension
plans.
That
may
have
impacts
for
both
us
as
an
employer
and,
of
course,
for
our
employees,
so
I'm
very
disappointed
about
that.
E
Request,
the
interim
chief
financial
officer
to
reports
the
July
3rd
government
management
committee
meeting
with
an
update
on
the
OMERS
decision
in
principle,
options
on
changes
to
OMERS
and
from
there
I
guess
we
can
decide
if
there's
any
other
position,
we'd
like
to
take
I,
don't
think
it
discounts.
Yours,
counselor,
Ainsley,.
E
Might
be
prudent
to
wait
to
send
in
that
response
until
it
comes
back
in
July
assuming
horse
passes.
The
other
motion,
that's
busily
being
typed
by
cue
Carol,
is
that
we
request
the
almost
board
to
extend
the
period
of
consultation
to
allow
for
the
newly
elected
municipalities
and
school
boards
to
provide
appropriate
feedback.
E
E
A
A
F
We
now
have
a
reduction
of
seven-and-a-half
percent
based
on
the
asset
makeup
for
the
metropolitan
Toronto
Pension
Plan.
That
was
the
main
change.
There
was
also
changes
in
terms
of
not
requiring
funding
on
a
deficiency
basis
if
you're,
if
you
have
at
least
eighty
percent
funded
status,
all
of
these
pensions
are
a
hundred
percent
funded
on
both
solvency
and
going
concerned,
and
that
is
not
an
issue,
but
there
is
this
extra
reduction,
including.
F
F
F
The
first
fund
that
has
gone
through
took
nine
months
with
visco,
the
second
one
that
has
gone
through
I'm,
not
sure
how
long
that's
taken,
but
certainly
it's
with
fiscal
and
representative
from
a
la
mercè
and
the
city
are
constantly
calling
them
to
see
how
it's
going
and
whose
desk
it's
on
and
York
is
expected
to
be
effective.
October
31st
of
this
year,
we
are
expecting
to
transfer
it
at
the
end
of
this
year,
the
beginning
of
next
year.
E
F
E
F
F
A
Anybody
else
have
questions
on
this
item.
Seeing
none
speakers
councillor
Davis
did
you
wish
to
speak
on
this
item?
Councillor
Davis
is
moving
adoption
all
in
favor
of
the
recommendations
carried
and
our
next
item
thanks:
Carol
number,
10,
2017,
consulting
service
expenditures,
city
and
division,
major
agencies
and
corporations,
councillor
Tracy
I'm.
B
F
E
F
E
Because
it
would
be
very
nice
to
understand,
I
mean
we
just
get
these
great
big
tables.
We've
got
one
year
you've
given
us
to
compare
16
or
17
over
16.
It's
very
hard
to
know
whether
this
lumpy
pattern
has
I'd
love
to
see
it
over
a
10-year
period,
because
I
remember,
we
were
way
we
used
far
far
less
terms
of
total
spending
on
consultants
10
years
ago.
F
E
Right
well,
that
alone
shows
some
increase
between
2013
and
17
overall
on
the
capital
side
and
definitely
on
the
operating
side
and
I.
Think
the
one
that
I
I
came
without
my
marked
up
today.
So
the
largest
areas
are:
where
are
we
increasing
on
the
operating
side
over
these
years?
Then?
Where
has
there
been
the
greatest
increase?
I?
E
F
E
F
F
E
E
E
B
A
Questions
of
staff
on
this
item,
seeing
none
speakers,
counselor
troi,
see
how
this
I'll
move
it.
Okay,
counselor
Tracy's,
moving
the
recommendations
on
this
all
in
favor
carried.
Our
next
item
is
number
16
amendment
to
purchase
order.
Number
six,
zero.
Four:
three:
two:
two:
zero:
the
Riverdale
park
east
northeast
quadrant
park,
improvements
in
Ward,
30
call
by
councillor,
Davis
I,
had.
A
A
E
E
I
So
we
don't
have
the
technology
providers
at
this
time.
We
are
going
to
do
a
competitive
call
for
solutions
that
will
meet
our
needs
and
we
are
looking
at
utilizing
it
on
its
complete
vehicles
and
MLS
has
also
volunteered
three
vehicles,
so
we
will
put
technology
on
and
we
will
monitor
the
best
ways
to
share
the
vehicle,
interdivisional
e
and
within
the
division.
So
MLS
will
look
at
sharing
within
their
division,
the
idea
being
to
reduce
low
usage
other
low
usage
vehicles.
So
we
will
potentially
see
a
savings
so.
I
B
E
I
It
will
enable
to
look
at
the
solutions
that
will
meet
the
knees.
The
complexities
of
the
city,
both
fleet
and
MLS,
have
multiple
locations
we'll
be
able
to
get
the
best
solution,
whether
it's
a
lock
box
or
an
online
system,
and
a
look
at
the
operational
impacts
and
the
cost
associated
with
it
for
stuff
to
monitor
it,
to
clean
vehicles
and
to
ensure
vehicles
are
moving
properly.
And
then
we
can
look
at
expanding
it.
So.
I
H
E
E
A
Thank
You
councillor
Davis
other
questions
of
staff
on
this
item.
Seeing
none
so
I
have
some
questions.
I
wanted
to
ask
about
so
on
page
I,
guess
four
out
of
four
or
five:
it
has
the
s.
Cost
estimates
for
an
a
vehicle
pilot
project
in
a
five
vehicle
pilot
project,
but
it
it
doesn't
say
what
the
cost
savings
are.
A
So
in
Chicago,
for
example,
which
I
had
a
meeting
when
I
was
there
four
years
ago
in
Chicago,
so
they
have
a
very
comprehensive
car
share
program
that
they
do
a
Zipcar
and
fastly
and
I
just
got
an
estimate,
their
fleet
of
vehicles
about
the
same
size
as
ours
and
the
most
recent
estimate
I
got
from
them.
There
avoided
capital
cost
each
year
on
their
car
share
program
is
three
hundred
and
seventy
five
thousand
dollars
and
they're
avoided
maintenance
costs
or
forty
five
thousand
dollars.
A
But
we
seem
to
be
keeping
this
all
in-house
and
then,
when
I
was
in
Chicago
there
car-sharing
at
the
time
they
were
using
Zipcar
and
they
were
pool
it
was
the
vehicles,
were
all
man
owned
by
Zipcar
and
pooled
and
was
saving
on
we're.
They
were
saving
a
lot
of
money
annually
buying
vehicles,
which
was
why
I
originally
brought
this
forward
and
we're
doing
a
pilot
project
with
13
vehicles.
A
I
I
We
need
such
as
pickup
trucks
and
vans
within
divisions
and
divisions
at
yards,
so
the
vehicles
will
be
actually
be
located
on
cities
sites
so
for
easier
access
for
operational
needs,
as
opposed
to
staff
going
to
meetings
and
that
type
of
thing,
so
we
do
expect
savings
because
we
do
expect
the
opportunity
reduce
low
usage
vehicles.
We
just
can't
quantify
that
because
we
don't
know
the
operational
impacts,
what
divisions
need
in
terms
of
pickup
trucks,
their
varying
hours
of
operations
summer
24/7,
some
during
the
day.
A
I
I
A
Why
I
guess
what
I'm
trying
to
understand
the
unagi's
trick?
Chicago
again
as
the
example
when
I
was
in
Chicago
and
they
like,
they
highlighted
the
fact
that
they
were
doing
vehicle
sharing
with
Zipcar
they'd
and
they
had
a
maintenance
program,
commercial
program
for
pickup
trucks,
which
is
where
they're
getting
most
of
their
money
from,
and
we
seem
to
be
we're
here
now
and
this
seems
to
be
taking
a
long
time
and
my
idea
of
vehicle
sharing
is
is
so
in
Chicago,
for
example,
Zipcar
they're,
their
vehicle
fleet
of
pickup
trucks
they
own
them.
A
They
maintain
them.
There's!
No.
We
don't
have
to
put
spend
this
money
on
software
and
putting
in
lock
boxes.
Zipcar
main
do
that
in
Chicago
they
have
a
card
and
to
get
in
the
vehicle.
You
need
that
card
to
even
get
in
the
vehicle.
I.
Don't
understand
why
we
seem
to
be
keeping
a
lot
of
this
still
in
house
and
taking
that
cost.
I
Our
Zipcar
locations
tend
to
be
located
around
our
administrative
buildings,
not
our
operational
sites,
trying
to
get
staff
to
locations
to
pick
up
vehicles.
That
type
of
thing
that's
just
not
going
to
be
operationally
feasible.
So
we're
looking
at
the
vehicles
that
are
currently
at
our
yards
at
all
our
various
sites
on
how
to
share
on
site
right
now.
Staff
or
external
program
actually
have
to
travel
to
pick
up
their
vehicle
and
with
tools
and
other
operational
requirements
I'm,
not
thinking
that
would
be
a
feasible
right.
I
I
E
Think
this
is
great
and
I
do
think
that
we
are
a
big
enough
employer
and
we
have
a
large
enough
that
we
could
do
this.
In-House
I
would
rather
take
the
investment
and
invest
it
in
in
our
own
infrastructure
than
contract
out
to
some
third
party,
and
we
have
specialized
vehicles.
Let's
see
if
we
can
use
a
way
to
use
a
new
technology
to
be
able
to
use
them
more
efficiently
and
I.
Think
it's
excellent.
It
just
seems
like
too
few
vehicles
participating
in
it.
A
Almost
five
years
ago
now,
one
of
the
things
I
did
was
I
went
to
the
city
of
Chicago
their
fleet
operations,
because
I
had
heard
that
they
had
a
car
share.
Her
sharing
vehicle
sharing
program
and
one
of
the
things
that
stood
out
to
me
was
they
took
me
to
a
parks
compound,
for
example,
where
they
had
a
pickup
trucks.
At
one
time
they
were
down
to
four
pickup
trucks
and
the
four
pickup
trucks
were
owned
at
the
time
by
Zipcar
they
have
a
commercial
fleet
operations.
You
have
at
the
time
they
still
do.
A
If
you
were
an
employee
that
worked
in
the
parks
department,
you
needed
one
of
the
pickup
trucks
you
had
a
card.
There
was
an
online
reservation
system,
the
for
pickup
trucks
were
parked
in
any
given
parks
compound
across
the
city.
Zipcar
looked
after
all
the
maintenance
and
they're
still
doing
it
on
an
annual
basis.
So
I
was
back
in
2012.
The
most
recent
avoided
capital
costs
from
the
city
of
Chicago,
as
I
said
earlier,
is
three
hundred
and
seventy-five
thousand
dollars
a
year.
A
The
avoided
maintenance
cost
was
forty
five
thousand
dollars
a
year
and
they
don't
have
every
vehicle
we
encounter.
Davis
was
just
saying
we
very
specialized
vehicles
and
across
our
fleet
that
have
to
be
maintained,
they're,
probably
better
maintained
in-house
and
looked
after,
but
when
you're
looking
at
general
vehicles,
pickup
trucks
cube
vans,
some
of
the
motor
vehicles
that
our
staff
are
driving,
they're
better
used
in
a
car
share
program.
I
think
the
best
use
of
our
budget
is
not
having
you
know.
A
A
A
E
A
A
A
Number
20
mine
tonight,
29
implementation
plan
and
framework
for
integrating
circular
economy,
approaches
into
city
procurement
processes
to
support
waste
reduction
and
diversion
councillor
Davis.
You
held
this
item
and
now
we
have
a
snap
presentation
which
one
it
distributed.
This
is
the
committee
want
us,
the
presentation,
I
I.
A
C
C
So
probably
the
most
important
slide
is
actually
the
second
slide
to
explain
what
a
circular
economy
is,
because
this
is
a
fairly
new
concept
for
most
people.
What
traditionally
we've
lived
in
is
a
linear
economy
where
you
buy
a
product
and
at
the
end
of
the
life
of
that
product,
you
you
dispose
of
the
product.
C
We
are
now
living
in
an
economy
where
recycling
is
becoming
more
prevalent,
still
not
for
everything,
but
there's
more
and
more
options
for
recycling
and
in
a
recycling
type
economy
you
buy
a
product
and
at
the
end
of
the
life
of
or
your
use
of
that
product,
it
gets
recycled
into
something
new
and
it
can
get
used
again,
but
eventually,
at
the
end,
it
B
has
an
end-of-life
and
it
gets
disposed
in
a
circular
economy.
The
concept
is,
is
that
when
you
buy
that
product,
it's
not
only
recyclable,
but
it
can
be
repaired.
C
C
It's
it's
talking
about
incorporating
greater
efficiencies,
greater
sustainability
and
purchasing
of
products,
reusing
a
products
and
and
bringing
repairability
back
into
into
the
into
the
product
chain,
which
is
something
that's
largely
disappeared
over
the
last
several
decades.
So
what
we
want
to
do
in
solve
waste
in
partnership
with
purchasing
p.m.
MD
and
a
number
of
the
other
divisions
that
we've
worked
with
already
and
done.
Some
workshops
with
is
try
to
look
at
doing
some
pilots,
where
we
embed
circular
economy
principles
into
our
actual
purchasing
process.
C
So
many
of
you
have
probably
heard
of
green
procurement,
which
is
sort
of
an
older
term.
This
is
sort
of
the
next
evolution
of
green
procurement
and
and
looking
at
building
this
in.
So
what
we'll
look
at
is
building
principles
into
our
procurement
that
actually
take
into
a
things
like
climate
change
and
being
able
to
meet
our
transformed,
tío
goals
and
actually
building
those
principles
into
the
procurement
and
how
we
go
in
and
purchase
goods
and
services.
C
Looking
at
the
full
lifecycle
of
a
product
that
we
buy,
so
not
only
looking
at
how
much
does
it
cost
initially,
but
what's
the
lifecycle
cost
of
that
product
if
it
has
to
be
disposed
after
three
years?
And
you
have
to
continually
buy
more
versus
maybe
paying
a
little
bit
more
upfront
for
that
product?
But
it's
got
repair
ability
built
into
it.
So
you
get
that
first,
three
years,
you
repair
it.
You
get
another
two
or
three
years
out
of
it.
C
In
the
end,
it
might
be
a
more
expensive
product
to
buy
initially,
but
over
the
life
cycle
of
the
product
itself.
It'll
actually
save
a
lot
more
money,
and
this
is
all
tied
in
to
aspirational
goals
of
zero
waste
and
and
different
types
of
concepts
that
you'll
see
in
the
long-term
waste
management
strategy.
This
is
done
in
parallel
to
and
tied
directly
into
the
supply
chain,
transformation
that
that
Mike
and
his
team
are
working
through
it's
aligned
with
a
number
of
different
City
Council
strategies
already
like
reduction
of
greenhouse
gas
emissions
on
the
social
side.
C
Some
of
the
goals
really
is
to
increase
the
amount
of
goods
and
services,
goods
and
services
that
are
purchased
by
the
city
that
are
regenerative
by
design
that
they
have
lower
life
cycle,
greenhouse
gas
emissions,
West
toxic
by
design
and
rely
less
on
raw
material
extraction
and
consumption.
One
of
the
goals
through
this
would
be
looking
at
the
number
of
city
contracts
that
could
actually
incorporate
circular
economy
principles
and,
looking
at
you
know,
ultimately,
the
goal
in
the
future
would
be,
as
we
look
at
city
contracts
moving
forward.
C
So
what
what
are
all
the
impacts
associated
with
that
product
leaving
out
leading
up
to
the
point
of
it
becoming
a
product
which
could
be
important
in
a
future
procurement
and
then,
ultimately,
it
does
it
contribute
to
reducing
our
carbon
footprint?
Is
the
city
looking
at
this
is
circular
economy
is
not
only
a
new,
relatively
new
concept
of
the
city,
but
it's
also
relatively
new
concept
to
the
marketplace.
So
that's
in
part
why
we
want,
to
start
with
a
pilot,
is
to
understand
how
this
could
be
embedded
in
our
procurement
ourselves.
C
C
Just
a
few
more
here,
what's
going
to
be
important
about
this,
because
it
is
really
relevant
or
relatively
new
is
building
and
key
performance
indicators,
so
understanding
what
our
baseline
is
for
procurement
today
and
then,
when
you
move
forward
with
building
in
a
circular
economy
principles
into
procurement.
How
does
that
compare
over
the
baseline
a
few
years
from
now?
Do
we
see
those
measurable
savings
and
cost
the
measurable
reductions
in
greenhouse
gas
emissions?
C
The
final
slide
is
just
the
timeline
for
what
we're
doing
so
right
now
we're
at
the
beginning
here
the
the
draft
framework
to
government
management
committee
we're
working
through
the
identification
of
the
various
pilots
that
we'll
be
looking
at
and
the
different
divisions
that
will
be
involved.
We
engaged
a
number
of
different
divisions
here
at
the
city
that
procure
both
products
and
services
and
and
I
think
a
widespread
interest
from
all
those
divisions
on
looking
at
building
these
types
of
concepts
into
their
future
procurements.
E
E
Do
you
see
using
a
request
for
expressions
of
interest
or
or
request
for
proposal
for
or
tenders
like?
Are
you
looking
at
trying
different
procurement
because
with
a
tender
you're
very
clear?
We
want
this
this
this
and
this,
and
there
may
be
some
products
where
that's
easier
to
do
then
than
others.
So
maybe
you
can
just
expand
on
what
type
of
procurement
and
which
divisions
are
interested
at
this
point
through.
B
The
chairs
of
the
first
part
we'll
be
looking
for
different
types
of
pilots
that
one
imbed
the
circular
economy
concept
into
the
procurement
evaluation
component,
as
well
as
into
the
contract.
So
we
will
try
to
do
RFPs
and
RFQs
or
tenders
so
that
we
can
see
how
both
work
so
that
we
can
make
a
fulsome
policy
decision
recommendation
in
the
end,
with
respect
to
some
of
the
divisions
that
have
express
interest,
it's
always,
of
course,
they
want
to
be
first.
E
B
Aed
now
we
do
have
a
whole
working
group
set
up,
which
includes
divisions
such
as
PFN
are
planning
transportation.
So
we
are
in
fact
are
soliciting
interest
from
those
groups
I'm
sorry
from
those
divisions
to
participate
as
a
pilot.
So
we
have
a
few
already
volunteers,
but
we
are
looking
at
all
those
within
the
working
group
to
provide
an
opportunity
to
be
part
of
a
pilot,
so.
E
In
the
past,
when
we've
tried
to
integrate
some
of
our
larger
policy
objectives
into
the
procurement
process,
like
Canadian
content
or
other
things,
we've
been
told,
oh,
the
trade
rules
are
such
that
we
can't
possibly
do
that.
So,
how
is
it
that
we
are
avoiding
any
interprovincial
or
sita
or
other
trade
regulations
through.