The Finance and Corporate Services Committee approved providing Happy Goat Coffee Company the first right of refusal for five future commercial/retail spaces at Stage 2 O-Train stations.
The committee waived the section of the City’s Leasing Policy that requires public notice of leasable City space and staff have begun working with the company. The future commercial/retail spaces would be at Trim, Place d‘Orléans, Alqonquin, Bayshore, and Lincoln Fields stations.
The committee also received information on the Municipal Price Index (MPI) Feasibility Review. A MPI measures the yearly change in the cost of providing municipal services. It is used to used to quantify the difference between costs to provide municipal services and the Consumer Price Index (CPI).
Staff’s research and assessments find that the City’s current practice of identifying inflationary pressures based on negotiated contract increases, commodity specific inflationary indicators for utilities, and fuel as examples are more reflective of actual increases for the various specific commodities and services to consider when developing an annual budget. These, along with historical trends and current market pricing provides a more accurate budgetary estimate and a MPI or other inflationary index to develop an annual budget would not be sufficient to meet all requirements or be cost-effective.
Items from today’s meeting will rise to Council on Wednesday, October 11.