Item - 2013.ED22.7
Tracking Status
- City Council adopted this item on June 11, 2013 without amendments and without debate.
- This item was considered by the Economic Development Committee on May 22, 2013 and adopted without amendment. It will be considered by City Council on June 11, 2013.
- See also By-law 773-2013
ED22.7 - Approval for the Imagination, Manufacturing, Innovation, Technology (IMIT) Financial Incentive Program - 1 York Street
- Decision Type:
- ACTION
- Status:
- Adopted on Consent
- Wards:
- All
City Council Decision
City Council on June 11, 12 and 13, 2013, adopted the following:
1. City Council approve the Imagination, Manufacturing, Innovation and Technology Program application submitted by 1 York Street Inc. for a new office development at 1 York Street.
2. City Council authorize the General Manager, Economic Development and Culture to negotiate and execute a Financial Incentive Agreement in a form satisfactory to the City Solicitor.
Background Information (Committee)
https://www.toronto.ca/legdocs/mmis/2013/ed/bgrd/backgroundfile-58176.pdf
ED22.7 - Approval for the Imagination, Manufacturing, Innovation, Technology (IMIT) Financial Incentive Program - 1 York Street
- Decision Type:
- ACTION
- Status:
- Adopted
- Wards:
- All
Committee Recommendations
The Economic Development Committee recommends that:
1. City Council approve the Imagination, Manufacturing, Innovation and Technology Program application submitted by 1 York Street Inc. for a new office development at 1 York Street.
2. City Council authorize the General Manager of Economic Development and Culture to negotiate and execute a Financial Incentive Agreement in a form satisfactory to the City Solicitor.
Origin
Summary
This report recommends approval of an application to the Imagination, Manufacturing, Innovation and Technology (IMIT) Financial Incentive Program submitted by 1 York Street Inc. (Menkes Developments Ltd. and HOOPP Realty Inc.) for a new office building to be constructed at 1 York Street. Council approval is required for IMIT projects with a construction value greater than $150 million. This project has an estimated construction value of $230 million, and meets all eligibility criteria of the IMIT program.
Background Information
https://www.toronto.ca/legdocs/mmis/2013/ed/bgrd/backgroundfile-58176.pdf
Speakers
Peter Menkes, President - Commercial, Menkes Developments