Item - 2012.BU29.2
Tracking Status
- This item was considered by Budget Committee on October 18, 2012 and was adopted without amendment.
- See also EX24.21
BU29.2 - Adjustments to the 2012 Parks, Forestry and Recreation Capital Budget to fund Parkland Acquisition in North York City Centre
- Decision Type:
- ACTION
- Status:
- Adopted
- Ward:
- 23 - Willowdale
Committee Decision
The Budget Committee recommends to the Executive Committee that:
1. City Council grant approval to amend the 2012 Council approved Parks, Forestry and Recreation Capital Budget to create a new capital project with a cost of $2.4 million called "Land Acquisitions for Edithvale Park" to be financed by:
a. Edithvale Land Acquisition Reserve Fund (XR2214) until all funds are depleted in this reserve fund; and
b. Offsite Parkland Dedication Reserve Fund (XR2216) for the remaining balance;
2. City Council direct that the Edithvale Land Acquisition Reserve Fund (XR2214) be closed upon its depletion.
3. City Council amend Municipal Code Chapter 227, Reserves and Reserve Funds by deleting the Edithvale Land Acquisition Reserve Fund from Appendix C, Schedule 10.
4. City Council grant authority to introduce the necessary bills in Council.
Origin
Summary
This report seeks Council authority to increase the 2012 Parks Forestry and Recreation Capital Budget by $2.4 million gross and $0 net for the acquisition of land for Edithvale Park to be funded by the Edithvale Land Acquisition Reserve Fund (XR2214) and Offsite Parkland Dedication Reserve Fund (XR2216).
Background Information
https://www.toronto.ca/legdocs/mmis/2012/bu/bgrd/backgroundfile-50695.pdf