Item - 2010.GM33.20

City Council on August 25, 26 and 27, 2010, adopted the following:

1.         City Council grant authority to enter into an agreement to transfer part of the property at the southwest corner of Eglinton Avenue East and Don Mills Road, more particularly described in Appendix 2 of the report (August 6, 2010) from the Chief Corporate Officer, including agreements related thereto, to Build Toronto, substantially on the terms and conditions set out in Appendices 1 and 2 of the report (August 6, 2010) from the Chief Corporate Officer, and on such other and amended terms and conditions as may be approved by the Chief Corporate Officer, in a form satisfactory to the City Solicitor.

2.         City Council grant authority to enter into an agreement to transfer the property municipally known as 3326 Bloor Street West and part of 1226 Islington Avenue, more particularly described in Appendix 3 of the report (August 6, 2010) from the Chief Corporate Officer, including agreements related thereto, to Build Toronto, substantially on the terms and conditions set out in Appendices 1 and 3 of the report (August 6, 2010) from the Chief Corporate Officer, and on such other and amended terms and conditions as may be approved by the Chief Corporate Officer, in a form satisfactory to the City Solicitor.

3.         City Council grant authority to enter into an agreement to transfer the property municipally known 4050 Yonge Street, more particularly described in Appendix 4 of the report (August 6, 2010) from the Chief Corporate Officer, including agreements related thereto, to Build Toronto, substantially on the terms and conditions set out in Appendices 1 and 4 of the report (August 6, 2010) from the Chief Corporate Officer, and on such other and amended terms and conditions as may be approved by the Chief Corporate Officer, in a form satisfactory to the City Solicitor.

4.         City Council grant authority to the Chief Corporate Officer to permit Build Toronto to engage in licensing and leasing activities in respect of properties that are or become the subject matter of executed Transfer Agreements, during the period prior to the closing of the transfer transactions, on terms and conditions as may be approved by the Chief Corporate Officer, in a form satisfactory to the City Solicitor.

5.         City Council grant authority to fund the City’s outstanding expenses related to these properties from the Approved Operating Budgets for Facilities and Real Estate (F&RE), in the year(s) that the expenses are incurred, as necessary and, once these expenses are known, to transfer the funding for these expenses from the Land Acquisition Reserve Fund (LARF), with appropriate adjustments to F&RE’s Approved Operating Budgets, as necessary, through subsequent Quarterly Variance Reports. 

6.         City Council grant authority to make appropriate budget adjustments to F&RE’s Operating Budgets to address the net revenue loss arising from the transfer of 3326 Bloor Street West and the southwest corner of Eglinton Avenue East and Don Mills Road to Build Toronto, beginning in the budget year following the registration of the transfer(s) of these properties to Build Toronto.

7.         City Council grant authority to make appropriate budget adjustments to the Toronto Transit Commission’s Operating Budget to address the net revenue loss from the termination of TTC parking operations arising from the transfer to Build Toronto of part of 1226 Islington Avenue and 4050 Yonge Street, effective on a date to be agreed upon by the Deputy City Manager and Chief Financial Officer and the TTC.

8.         City Council authorize the termination and removal from the title of the properties to which it applies, including part of 1226 Islington Avenue, of a lease agreement between Metropolitan Toronto and the TTC entered into December 30, 1969, and registered as EB367652, as it now redundant and inconsistent with the intended redevelopment of properties that are to be transferred to Build Toronto.

9.         City Council rescind Recommendation 3 of EX2.10 as approved on February 5, 6, 7, and 8, 2007, regarding sale proceeds from the Bloor/Islington lands and the Westwood lands, so that Build Toronto will be able to derive revenue from its redevelopment of the Bloor/Islington lands and integrate alternatives for the relocation of the Islington bus terminal within its master plan.

10.       City Council approve, as the approving authority under the provisions of the Expropriations Act, the transfer to Build Toronto of any property that was acquired by expropriation without giving the original owner from whom the property was expropriated the first chance to repurchase the property.

11.       City Council rescind, at such time as a property that is to be made available to Build Toronto is no longer being utilized by the Toronto Parking Authority for parking purposes, any prior designation of such property for parking by the Toronto Parking Authority.

12.       City Council authorize the City Solicitor to complete the transactions to be provided for in the transfer agreements on behalf of the City, including making payment of any necessary expenses, amending the closing and other dates to such earlier or later date(s), and amending or waiving the terms and conditions, as she may from time to time consider reasonable.

13.       City Council defer the declaration as surplus of 253 Markham Road/12 Dunelm Street, as set out in Appendix 5 of the report (August 6, 2010) from the Chief Corporate Officer, pending a report from the Director of Community Planning, Scarborough District, regarding the future land-use designation for this property in the context of the review of the city-owned lands between Markham Road and Scarborough Golf Club Road.

14.       City Council request the Director of Facilities and Real Estate to confirm an interest by the Y.M.C.A. in acquiring the property 253 Markham Road/12 Dunelm Street for a future facility.

15.       City Council authorize and direct the appropriate City officials to introduce in Council any Bills necessary to give effect to the foregoing.

16.       City Council grant authority severally to each of the Chief Corporate Officer and the Director of Real Estate Services to execute the transfer agreements on behalf of the City.