Waterfront Toronto’s Board of Directors Enhances Transparency Policies

The Board of Directors of Waterfront Toronto has decided to further enhance the organization’s transparency by sharing materials for Board and Board Committee meetings one week in advance of those meetings.

This is a modification from previous disclosure policy; only notice of the meeting and its agenda was shared publicly in advance. Now, all materials other than information-only presentations will be posted on Waterfront Toronto’s web site one week before the meetings, for the public sections of the meeting. These materials include:

• CEO Report: A summary of Waterfront Toronto’s significant activities since the previous Board of Director’s meeting. The CEO will provide a verbal update, if required, to the public CEO Report at meetings. These updates will be reflected in a revised CEO Report that will be published after the Board meeting.
• Draft Minutes from prior Board meeting (Minutes that have yet to be approved by the Board)
• Approved Minutes from Board Committee meetings
• Draft Capital Approval Notices: Formal notice/requests of approval of capital budgets for Waterfront Toronto projects
• Presentations provided for the Board for decision-making purposes. Presentations provided for information purposes (Information Presentations), and not requiring action or decision by the Board may not be posted in advance of meetings. These presentations are typically prepared shortly before scheduled meetings with the most recent information so that the Board is provided a current and accurate view of the projects in progress.

Following meetings, draft minutes on the Corporation’s website will be replaced with approved minutes, and all other materials presented or approved during the public session will also be published.

This new policy will apply to all Board and Board Committee meetings.

As always, Board of Directors meetings are open to the public.

Waterfront Toronto’s Board and Board Committees sometimes deal with sensitive issues around the selling and purchasing of land, the negotiations of commercial agreements and contracts, financial issues and relations with the federal, provincial and city governments. Such agenda items will continue to be discussed in-camera, and materials related to these items will not be publicly disclosed in order to protect the financial and commercial interests of Waterfront Toronto and its vendors and Waterfront Toronto’s relationships with the federal, provincial and city governments.

Media Contact:

Andrew Hilton
Director of Communications and Marketing