This report responds to City Council's request to conduct a governance and operational review of Sankofa Square[1], including but not limited to considerations such as publicly operating Sankofa Square in the same manner as Nathan Phillips Square (NPS). The review included a jurisdictional scan and engagement with Board members. Key findings of the review include: -Sankofa Square has a broader mandate than the City's civic squares which includes economic development and community and commercial objectives. -Sankofa Square's governance and operations model is similar to other North American squares that have broad mandates. -Sankofa Square is mandated to be financially self-sufficient while the civic squares are not and therefore Sankofa Square can generate revenues from advertisements, sponsorships and commercial events. Based on the key findings of the review, it is recommended that Sankofa Square continue its current board of management governance structure. Departing from this structure and operating Sankofa Square in the same manner as NPS could constrain programming, limit its ability to conduct fundraising, generate revenues, and potentially increase the City of Toronto’s net expenditures. A multi-year strategic plan and business plan is recommended to refresh the Square's objectives. This strategic planning process will help to align the Square's objectives with the post pandemic events market and evolving neighbourhood context and to address the opportunities and challenges identified in this report. This report also transmits, as directed by City Council, the Sankofa Square Board of Management (Board) report on Yonge-Dundas Square's adoption of the new name of Sankofa Square, as previously adopted by City Council, and includes the Board's implementation and transition plan for the new name (Attachment 1).
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