That the following actions be taken with respect to the staff report dated June 23, 2020, related to an update on COVID-19 Financial Impacts:
a) the overview of projected financial impacts of COVID-19 on The Corporation of the City of London and the measures taken to date to address these pressures BE RECEIVED for information;
b) the actions below BE APPROVED to further mitigate the financial pressures caused by COVID-19:
i) additional operating service adjustments identified in Table 3 in the staff report dated June 23, 2020, excluding Item 10 – Golf, be approved, noting the anticipated service impacts associated with these actions;
ii) Item 10 - Golf operating service adjustments identified in the above-noted Table 3, noting the anticipated service impacts associated with these actions;
iii) deferral of capital projects totaling $3,539,000, it being noted that there are anticipated service impacts associated with these deferrals;
c) the Civic Administration BE AUTHORIZED to take the necessary actions to adjust the 2020 capital budgets and associated funding sources referenced in part b)ii), above;
d) deferral of 2020 additional investments approved during the 2020-2023 Multi-Year Budget totaling $1,345,000 BE APPROVED; it being noted that there are anticipated service impacts associated with these deferrals;
e) the measures being taken by the City’s Agencies, Boards and Commissions and other funded organizations to mitigate their financial challenges BE RECEIVED for information;
f) a one-year deferral of the annual loan repayment for RBC Place BE APPROVED;
g) the extension of the waiver of late payment charges for unpaid water & wastewater billings through July 2020 BE ENDORSED; it being noted that this is consistent with London Hydro’s approach for electricity late payment charges;
h) the Civic Administration BE AUTHORIZED to take the actions necessary to waive the applicable fees associated with permits and encroachments to assist London businesses with reopening items such as temporary restaurant patios, curbside pick-ups, vending stands and other applicable business practices;
i) the proposed approach for the 2021 Annual Budget Update outlined in the report dated June 23, 2020, BE ENDORSED;
j) the Civic Administration BE AUTHORIZED to further extend the deferral period, on Community Improvement Plan loan repayments, on an interest-free basis for a further period of 90 days, being June, July and August 2020, where the applicant has requested a further deferral in writing; it being noted that the September loan repayments will be cashed as planned; and,
k) the Civic Administration BE AUTHORIZED to further extend the deferral period for the loan payments on the interest-free loan to the London Community Players until January 2021; it being noted that the January loan repayments will be cashed as planned;
it being noted that the Strategic Priorities and Policy Committee received a presentation from the Managing Director, Corporate Services and City Treasurer, Chief Financial Officer and a communication dated June 18, 2020 from C. Butler with respect to this matter.