ECONOMIC DEVELOPMENT COMMITTEE
	TO:	Mayor and Members of Council
	FROM:	Stephen Chait, Economic Development Director
	PREPARED BY:	Bob Glandfield, President/CEO, ISCM
	DATE OF MEETING:	February 16, 2004
	SUBJECT:	Innovation Synergy Centre in Markham Status Update

RECOMMENDATION:

That the report entitled “Innovation Synergy Centre in Markham Status Update” be received.

DISCUSSION:

The enclosed memo from the President/CEO of the Innovation Synergy Centre in Markham is intended to inform Council of the activities of the ISCM, and the progress being made toward its incorporation and establishment of a full Board of Directors. As a separately incorporated not for profit corporation, the ISCM operates at arms-length from the Town, and therefore submits its reports to Council through correspondence with Economic Development Committee.

A financial report reflecting the current and on-going status of the ISCM will be provided to Council in March 2004.

FINANCIAL CONSIDERATIONS:

none

ENVIRONMENTAL CONSIDERATIONS:

none

ACCESSIBILITY CONSIDERATIONS:

none

ENGAGE 21ST CONSIDERATIONS:

none.

BUSINESS UNITS CONSULTED AND AFFECTED:

none

ATTACHMENTS:

1. Memo from ISCM President/CEO dated January 26, 2004

Stephen Chait, Director of Economic Development

John Livey, Chief Administrative Officer