Item - 2011.EX7.2

City Council on July 12, 13 and 14, 2011, adopted the following:

1.         City Council authorize the City to enter into an agreement of purchase and sale with Ontario Infrastructure and Lands Corporation ("Infrastructure Ontario") as agent for Her Majesty the Queen in Right of Ontario as represented by the Minister of Infrastructure for the conveyance of the City-owned parcels of land described in Appendix "A" of the report (June 6, 2011) from the Deputy City Manager, Cluster B, and shown on the Sketches attached as Appendices "B-1" and "B-2" of the report (June 6, 2011) from the Deputy City Manager, Cluster B, for the nominal sum of Two Dollars ($2.00), substantially on the terms outlined in Appendix “A” of the report (June 6, 2011) from the Deputy City Manager, Cluster B, and such other terms as may be satisfactory to the Chief Corporate Officer,  in consultation with the Acting Director Waterfront Secretariat, and in a form satisfactory to the City Solicitor.

2.         City Council confirm that approval of Part 1 above will not require the City to commit any future City funding relating to the parcels of land set out in Part 1 above for environmental site clean-up or site preparation beyond what the City has previously committed through its 2011 Capital Budget and Plan; and direct the Deputy City Manager, Cluster B and the Waterfront Project Director to ensure this is reflected in future waterfront revitalization Capital Budgets.

3.         City Council authorize the City to enter into a lease amending and extension agreement, in a form satisfactory to the City Solicitor, to extend the term of the lease between the City and Ontario Realty Corporation (now Infrastructure Ontario), dated June 30, 2006, in respect of the closed streets and lanes and City-owned parcels within the West Don Lands for an additional 5 year term, on the same terms and conditions as the existing lease and to add an additional parcel of City-owned land on the west side of Cherry Street, designated as Parts 3, 6 and 7 on Plan 66R-25445, shown crosshatched in Appendix "F" of the report (June 6, 2011) from the Deputy City Manager, Cluster B, to the lease, on terms satisfactory to the Chief Corporate Officer.

4.         City Council authorize the City to enter into a lease agreement with Toronto Waterfront Revitalization Corporation ("Waterfront Toronto"), for nominal consideration, for a construction work area on the property municipally known as 513 King Street East, shown on the sketch attached as Appendix "D" of the report (June 6, 2011) from the Deputy City Manager, Cluster B, in connection with the Cherry Street Reconstruction  in the West Don Lands, substantially on the terms outlined in Appendix "C" of the report (June 6, 2011) from the Deputy City Manager, Cluster B, and such other terms as may be satisfactory to the Chief Corporate Officer, in consultation with the Acting Director Waterfront Secretariat, and in a form satisfactory to the City Solicitor.

5.         City Council authorize the City to enter into a licence agreement with Waterfront Toronto for a term of 5 years, for nominal consideration, for access to a portion of 480 Lake Shore Boulevard East, shown on the sketch attached as Appendix "E" of the report (June 6, 2011) from the Deputy City Manager, Cluster B, to construct part of the storm water management system for Phases 1 and 2 of the West Don Lands, including a shaft, tunnel and storm water quality facility and certain other above and below grade structures and improvements, on terms satisfactory to the Chief Corporate Officer, in consultation with the Acting Director, Waterfront Secretariat, and in a form satisfactory to the City Solicitor.

6.         City Council authorize severally each of the Chief Corporate Officer, the Acting Director, Waterfront Secretariat and the Director of Real Estate Services to execute the agreement of purchase and sale, the lease agreement, the licence agreement and the lease amending and extension agreement on behalf of the City.

7.         City Council authorize the City Solicitor to complete the transactions on behalf of the City, including paying any necessary expenses, amending the closing, due diligence and other dates, and amending and waiving terms and conditions, on such terms as she considers reasonable.

8.         City Council authorize the Chief Corporate Officer to administer and manage the lease agreement and licence agreement with Waterfront Toronto including the provision of any consents, approvals, waivers, notices and notices of termination provided that the Chief Corporate Officer may, at any time, refer consideration of such matters to City Council for its determination and direction.

9.         City Council direct that the confidential information in Appendix G of the report (June 6, 2011) from the Deputy City Manager, Cluster B only be made public at the discretion of the Acting Director, Waterfront Secretariat, in consultation with the City Solicitor.

Confidential Appendix "G" to the report (June 6, 2011) from the Deputy City Manager, Cluster B remains confidential in its entirety at this time in accordance with the provisions of the City of Toronto Act, 2006, as it relates to a proposed or pending acquisition or sale of land for municipal or local board purposes. The confidential information will only be made public at the discretion of the Acting Director, Waterfront Secretariat, in consultation with the City Solicitor.