On March 29 2023, City Council considered Item 2023.EX3.2 which contained a report outlining unprecedented financial pressures faced by the City of Toronto government totalling $46.5 Billion over ten years. This staggering shortfall will have significant consequences in the near future affecting the cost of living for citizens, and for anyone who relies on City services. It is crucial that the City government demonstrate to the public that we will make a genuine effort to reduce financial pressures before we ask citizens to pay more, or accept less service. It is also important to the City's credibility to first look inward at opportunities before accepting financial relief from other orders of government. Sponsorships, naming rights and advertising are not new concepts for the City of Toronto. There are many examples of successful projects, such as the naming of Meridian Hall and the Meridian Arts Centre. These have produced considerable benefit to citizens while maintaining reasonable boundaries around the commercialization of public assets, and maintaining the confidence and support of the public. Given the fiscal context, it is now more crucial than ever to express a willingness to review and test the limits our partnership programs, and to think outside the box. In my research, I have found that there could be creative ways to identify opportunities to partner with others, to consider initiatives such as naming rights, and to find allied solutions to common goals which could deliver both positive financial and non-financial benefits. There is also a need to take an enterprise approach to partnership agreements and seek alignments with the City's agencies and corporations which could multiply returns. Given the complexity and governance of various parts of the City government, an inventory and strategic plan is a good place to start. In April 2023, the Toronto Transit Commission Board passed a similar motion to examine naming rights and sponsorship opportunities specific to the transit system. This proposed Motion is aligned with that direction, and expands consideration to opportunities at an enterprise level which could enable maximum benefits to the entire City.
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