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April 29, 2004
Administration Committee votes to reject Union Pearson Group proposed Master Agreement for Union Station
At its meeting today, members of Toronto City Council's Administration
Committee adopted City staff's recommendation that City Council reject the
Master Agreement requested by Union Pearson Group and that the City terminate
the Union Station RFP process.

In January 2003 City of Toronto staff, representing the City and Union Pearson
Group agreed in principle to lease Union Station for up to 100 years subject to
finalizing terms for a Master Agreement. City Council approved that arrangement
in July 2003. Since then, City staff and Union Pearson Group have engaged in a
complex series of negotiations to finalize the Master Agreement terms. Although
staff representing the City of Toronto and the Union Pearson Group reached
agreement on many issues, others relating to key matters remain unresolved
despite the best efforts of all parties.

"This has been a long process for everyone and I know that throughout, City
staff have diligently followed City Council's directions", said Councillor
Michael Walker. Chair of the Administration Committee. "Despite everyone's best
efforts, we've reached an impasse. We cannot agree to a Master Agreement on
Union Pearson Group's terms," he added.

The Administration Committee also adopted a recommendation that staff report
back on alternatives and financial implications for the City to proceed with
the restoration, revitalization and operation of Union Station.

Union Station is an important heritage structure and Canada's busiest
multi-modal transportation hub. But it requires a significant and immediate
infusion of capital to allow it to reach its full potential.

Today's decision by the Administration Committee will be considered at City
Council's meeting scheduled for May 18, 19 and 20, 2004.

Media contacts:
Councillor Michael Walker, 416-392-7906,
Patricia Simpson, Union Station RFP Project Co-ordinator,



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