That with respect to Report PFC2021-0608, the following be adopted:
That Council:
- Approve the revised Opportunity Calgary Investment Fund Terms of Reference included as Attachment 3;
- Approve the Opportunity Calgary Investment Fund Investment Policy Statement included as Attachment 4;
- Approve that Opportunity Calgary Investment Fund Ltd. can direct up to $10 million in Opportunity Calgary Investment Fund monies to investment vehicles established and operated by third parties subject to terms and conditions in the Terms of Reference, Investment Policy Statement, and Operating and Funding Agreement; and
- Direct Administration to update the Operating and Funding Agreement with Opportunity Calgary Investment Ltd. as required.
By General Consent, pursuant to Section 121 of the Procedure Bylaw 35M2017, Council granted Councillor Magliocca's request to change his vote from the negative to the affirmative.
Council recessed at 12:13 p.m. and reconvened at 1:33 p.m. with Mayor Nenshi in the Chair.
ROLL CALL
Councillor Keating, Councillor Magliocca, Councillor Sutherland, Councillor Woolley, Councillor Carra, Councillor Chu, Councillor Chahal, Councillor Colley-Urquhart, Councillor Davison, Councillor Demong, Councillor Farkas, Councillor Farrell, Councillor Gondek, and Mayor Nenshi.
Council then dealt with Item 3.3.