Item - 2011.GM1.13
Tracking Status
- City Council adopted this item on February 7, 2011 with amendments.
GM1.13 - Purchase and Sale Transaction of 935 Eglinton Avenue West - Municipal Carpark No. 655
- Decision Type:
- ACTION
- Status:
- Amended
- Ward:
- 21 - St. Paul's
City Council Decision
City Council on February 7 and 8, 2011, adopted the following:
1. City Council approve a purchase and sale transaction between the Toronto Parking Authority and BSAR (Eglinton) Ltd. for the sale of the development rights, construction of the underground public parking garage, acquisition by the City of the additional lands required for the underground parking garage, and acquisition of the additional lands required for the Retail Component at 935 Eglinton Avenue West, as outlined in the body of this report and detailed in Appendix “A” to the report (January 14, 2011) from the President, Toronto Parking Authority.
2. City Council authorize and direct the appropriate City Officials to execute all necessary documents including but not limited to an Interim Parking Lease Agreement, Construction Procedures Agreement, Reciprocal Cost Sharing Agreement and Retail Lease Agreement(s) along with all necessary transfers and undertakings.
3. City Council authorize and direct the appropriate City officials to take the necessary actions to give effect thereto.
City Council Decision Advice and Other Information
City Council removed Item GM1.13, headed "Purchase and Sale Transaction of 935 Eglinton Avenue West - Municipal Carpark No. 655", from the jurisdiction of the Government Management Committee and brought the Item forward for City Council's consideration.
Background Information (Committee)
https://www.toronto.ca/legdocs/mmis/2011/gm/bgrd/backgroundfile-35172.pdf
Site Location Map
https://www.toronto.ca/legdocs/mmis/2011/gm/bgrd/backgroundfile-35183.pdf
Motions (City Council)
Moved during Order Paper review - that in accordance with Section 27-60 of Council Procedures, City Council remove Item GM1.13, headed "Purchase and Sale Transaction of 935 Eglinton Avenue West - Municipal Carpark No. 655" from the Government Management Committee and bring the Item forward for City Council's consideration.
Vote (Remove from Committee) Feb-07-2011 10:32 AM
| Result: Carried | Two-Thirds Required - Mihevc - Remove GM1.13 from Committee |
|---|---|
| Total members that voted Yes: 40 | Members that voted Yes are Paul Ainslie, Maria Augimeri, Ana Bailão, Shelley Carroll, Raymond Cho, Josh Colle, Gary Crawford, Vincent Crisanti, Janet Davis, Glenn De Baeremaeker, Frank Di Giorgio, Sarah Doucette, John Filion, Paula Fletcher, Doug Ford, Rob Ford, Mary Fragedakis, Mark Grimes, Doug Holyday, Norman Kelly, Mike Layton, Chin Lee, Giorgio Mammoliti, Josh Matlow, Pam McConnell, Mary-Margaret McMahon, Joe Mihevc, Peter Milczyn, Denzil Minnan-Wong, Ron Moeser, Frances Nunziata (Chair), Cesar Palacio, John Parker, James Pasternak, Gord Perks, Jaye Robinson, David Shiner, Michael Thompson, Adam Vaughan, Kristyn Wong-Tam |
| Total members that voted No: 1 | Members that voted No are Mike Del Grande |
| Total members that were Absent: 4 | Members that were absent are Michelle Berardinetti, Gloria Lindsay Luby, Anthony Perruzza, Karen Stintz |
That:
1. City Council approve a purchase and sale transaction between the Toronto Parking Authority and BSAR (Eglinton) Ltd. for the sale of the development rights, construction of the underground public parking garage, acquisition by the City of the additional lands required for the underground parking garage, and acquisition of the additional lands required for the Retail Component at 935 Eglinton Avenue West, as outlined in the body of this report and detailed in Appendix “A” to the report (January 14, 2011) from the President, Toronto Parking Authority.
2. City Council authorize and direct the appropriate City Officials to execute all necessary documents including but not limited to an Interim Parking Lease Agreement, Construction Procedures Agreement, Reciprocal Cost Sharing Agreement and Retail Lease Agreement(s) along with all necessary transfers and undertakings.
3. City Council authorize and direct the appropriate City officials to take the necessary actions to give effect thereto.
Vote (Adopt Item as Amended) Feb-07-2011 2:17 PM
| Result: Carried | Majority Required - GM1.13 - Mihevc - motion to adopt |
|---|---|
| Total members that voted Yes: 31 | Members that voted Yes are Ana Bailão, Michelle Berardinetti, Shelley Carroll, Raymond Cho, Josh Colle, Vincent Crisanti, Janet Davis, Glenn De Baeremaeker, Mike Del Grande, Frank Di Giorgio, Sarah Doucette, Rob Ford, Mark Grimes, Doug Holyday, Norman Kelly, Mike Layton, Chin Lee, Giorgio Mammoliti, Mary-Margaret McMahon, Joe Mihevc, Ron Moeser, Frances Nunziata (Chair), Cesar Palacio, James Pasternak, Gord Perks, Anthony Perruzza, Jaye Robinson, David Shiner, Michael Thompson, Adam Vaughan, Kristyn Wong-Tam |
| Total members that voted No: 0 | Members that voted No are |
| Total members that were Absent: 14 | Members that were absent are Paul Ainslie, Maria Augimeri, Gary Crawford, John Filion, Paula Fletcher, Doug Ford, Mary Fragedakis, Gloria Lindsay Luby, Josh Matlow, Pam McConnell, Peter Milczyn, Denzil Minnan-Wong, John Parker, Karen Stintz |
GM1.13 - Purchase and Sale Transaction of 935 Eglinton Avenue West - Municipal Carpark No. 655
- Decision Type:
- ACTION
- Status:
- Deferred
- Ward:
- 21 - St. Paul's
Committee Recommendations
The Government Management Committee deferred the item until its meeting on March 29, 2011.
Origin
Summary
The purpose of this report is to obtain City Council authority to complete a purchase and sale transaction involving the Toronto Parking Authority (the “TPA”) Municipal Carpark 655 (935 Eglinton Avenue West) (the “Property”) with BSAR (Eglinton) Ltd. (“BSAR” or the “Purchaser”). BSAR is the owner of adjoining lands at 925 Eglinton Avenue West (the "BSAR Lands") and intends to develop its lands with the Property (collectively, the "Site") once it obtains all necessary approvals. The terms of the transaction involve the sale of development rights for the Property, construction by the Purchaser of a below-grade public parking garage containing approximately 66 spaces to be built to TPA specifications, as well as the acquisition by the City of the portion of the Site occupied by the public parking garage not previously owned by the City as well as main floor retail space (the “Retail Component”) comprised of approximately 10,400 square feet (areas subject to final adjustments). The terms and conditions of the transaction are outlined in the body of this report and detailed in Appendix “A”.
Background Information
https://www.toronto.ca/legdocs/mmis/2011/gm/bgrd/backgroundfile-35172.pdf
Site Location Map
https://www.toronto.ca/legdocs/mmis/2011/gm/bgrd/backgroundfile-35183.pdf