Item - 2014.EX42.7
Tracking Status
- City Council adopted this item on June 10, 2014 with amendments.
- This item was considered by Executive Committee on May 27, 2014 and was adopted with amendments. It will be considered by City Council on June 10, 2014.
EX42.7 - Authority for Disposition of Rail Spurs by Toronto Port Lands Company in East Bayfront
- Decision Type:
- ACTION
- Status:
- Amended
- Ward:
- 28 - Toronto Centre-Rosedale
City Council Decision
City Council on June 10, 11, 12 and 13, 2014, adopted the following:
1. City Council consent to the disposition of two rail spurs known municipally as 15 Freeland Street and 15 Cooper Street on the terms identified in Confidential Attachment 3 to the report (May 12, 2014) from the City Manager.
2. City Council direct that a declaration by the City, in its capacity as sole shareholder of Toronto Port Lands Company, be delivered to the Board of Directors of Toronto Port Lands Company directing that, once the Properties have been sold, Toronto Port Lands Company use the net proceeds from the sale of the Project to provide a dividend to the City, in a specific amount to be determined by the Toronto Port Lands Company Board of Directors, in consultation with the Deputy City Manager and Chief Financial Officer.
3. City Council direct that Confidential Attachment 3 to the report (May 12, 2014) from the City Manager remain confidential under the provisions of the City of Toronto Act, 2006, as it relates to the security of the property of the municipality or local board until the closing of any sale transaction.
4. City Council authorize the public release of the confidential information and recommendations in Confidential Attachment 3 to the report (May 12, 2014) from the City Manager, following the closing of any sale transaction.
5. City Council direct that Confidential Attachment 1 to the report (June 9, 2014) from the City Manager remain confidential under the provisions of the City of Toronto Act, 2006, as it relates to the security of the property of the municipality or local board until the closing of any sale transaction.
6. City Council authorize the public release of the confidential information in Confidential Attachment 1 to the report (June 9, 2014) from the City Manager, following the closing of any sale transaction.
Confidential Attachment 3 to the report (May 12, 2014) from the City Manager remains confidential in its entirety at this time in accordance with the provisions of the City of Toronto Act, 2006, as it relates to the security of the property of the municipality or local board. Confidential Attachment 3 to the report (May 12, 2014) from the City Manager will be made public following the closing of any sale transaction.
Confidential Attachment 1 to the report (June 9, 2014) from the City Manager remains confidential in its entirety at this time in accordance with the provisions of the City of Toronto Act, 2006, as it relates to the security of the property of the municipality or local board. Confidential Attachment 1 to the report (June 9, 2014) from the City Manager will be made public following the closing of any sale transaction.
Confidential Attachment - The security of the property of the municipality or local board
Background Information (Committee)
https://www.toronto.ca/legdocs/mmis/2014/ex/bgrd/backgroundfile-69428.pdf
Confidential Attachment 3
Background Information (City Council)
https://www.toronto.ca/legdocs/mmis/2014/cc/bgrd/backgroundfile-70337.pdf
Confidential Attachment 1
Motions (City Council)
That City Council adopt the following recommendations contained in the supplementary report (June 9, 2014) from the City Manager [EX42.7a]:
1. City Council direct Confidential Attachment 1 to remain confidential under the provisions of the City of Toronto Act, 2006, as it relates to the security of the property of the municipality or local board until the closing of any sale transaction; and
2. City Council authorize the public release of the confidential information in Attachment 1, following the closing of any sale transaction.
Vote (Amend Item) Jun-10-2014 10:56 AM
| Result: Carried | Majority Required - EX42.7 - McConnell - motion 1 |
|---|---|
| Total members that voted Yes: 35 | Members that voted Yes are Paul Ainslie, Maria Augimeri, Ana Bailão, Shelley Carroll, Josh Colle, Gary Crawford, Vincent Crisanti, Janet Davis, Glenn De Baeremaeker, Mike Del Grande, Frank Di Giorgio, Sarah Doucette, John Filion, Paula Fletcher, Mary Fragedakis, Mark Grimes, Norman Kelly, Mike Layton, Peter Leon, Gloria Lindsay Luby, 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, Anthony Perruzza, Jaye Robinson, Kristyn Wong-Tam |
| Total members that voted No: 1 | Members that voted No are Giorgio Mammoliti |
| Total members that were Absent: 8 | Members that were absent are Michelle Berardinetti, Raymond Cho, Doug Ford, Rob Ford, Chin Lee, David Shiner, Karen Stintz, Michael Thompson |
Vote (Adopt Item as Amended) Jun-10-2014 10:57 AM
| Result: Carried | Majority Required - EX42.7 - Adopt the item as amended |
|---|---|
| Total members that voted Yes: 36 | Members that voted Yes are Paul Ainslie, Maria Augimeri, Ana Bailão, Shelley Carroll, Josh Colle, Gary Crawford, Vincent Crisanti, Janet Davis, Glenn De Baeremaeker, Mike Del Grande, Frank Di Giorgio, Sarah Doucette, John Filion, Paula Fletcher, Mary Fragedakis, Mark Grimes, Norman Kelly, Mike Layton, Chin Lee, Peter Leon, Gloria Lindsay Luby, 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, Anthony Perruzza, Jaye Robinson, Kristyn Wong-Tam |
| Total members that voted No: 1 | Members that voted No are Giorgio Mammoliti |
| Total members that were Absent: 7 | Members that were absent are Michelle Berardinetti, Raymond Cho, Doug Ford, Rob Ford, David Shiner, Karen Stintz, Michael Thompson |
EX42.7 - Authority for Disposition of Rail Spurs by Toronto Port Lands Company in East Bayfront
- Decision Type:
- ACTION
- Status:
- Amended
- Ward:
- 28 - Toronto Centre-Rosedale
Confidential Attachment - The security of the property of the municipality or local board
Committee Recommendations
The Executive Committee recommends that:
1. City Council consent to the disposition of two rail spurs known municipally as 15 Freeland Street and 15 Cooper Street on the terms identified in Confidential Attachment 3 to the report from (May 12, 2014) from the City Manager.
2. City Council direct that a declaration by the City, in its capacity as sole shareholder of Toronto Port Lands Company, be delivered to the Board of Directors of Toronto Port Lands Company directing that, once the Properties have been sold, Toronto Port Lands Company use the net proceeds from the sale of the Project to provide a dividend to the City, in a specific amount to be determined by the Toronto Port Lands Company Board of Directors in consultation with the Deputy City Manager and Chief Financial Officer.
3. City Council direct that Confidential Attachment 3 to the report from (May 12, 2014) from the City Manager remain confidential under the provisions of the City of Toronto Act, 2006, as it relates to the security of the property of the municipality or local board until the closing of any sale transaction.
4. Council authorize the public release of the confidential information and recommendations in Confidential Attachment 3 to the report from (May 12, 2014) from the City Manager, following the closing of any sale transaction.
Decision Advice and Other Information
The Executive Committee adopted the recommendation contained in the Confidential Attachment to Motion 1 by Councillor Shiner and requested the City Manager to report directly to City Council on this matter.
Origin
Summary
The purpose of this report is to seek City Council authority for the City of Toronto Economic Development Corporation formerly operated as TEDCO and now operating as Toronto Port Lands Company ("TPLC") to enter into an option agreement (the "Option Agreement") with the Liquor Control Board of Ontario ("LCBO") through its agent Infrastructure Ontario ("IO"). The Option Agreement would provide for the potential disposition of unused rail spurs as part of a consolidated property bounded by Queen's Quay East to the south, Freeland Street to the west, Lake Shore Boulevard East to the north, and a Loblaws retail store to the east. The two rail spurs are known municipally as 15 Freeland Street and 15 Cooper Street and bisect lands currently owned by the Liquor Control Board of Ontario and shown on Attachment 1.
Infrastructure Ontario, on behalf of the Liquor Control Board of Ontario, has approached Toronto Port Lands Company to combine the Liquor Control Board of Ontario and Toronto Port Lands Company properties as part of a joint request for development proposals. The Liquor Control Board of Ontario/Infrastrucuture Ontario proposal contemplates redevelopment of the combined sites consistent with revitalization activities in the East Bayfront. If the Option Agreement is successful, the sale of the rail spur lands will result in revenue to Toronto Port Lands Company and the City of Toronto.
There is standing direction from City Council to Toronto Port Lands Company to transfer their lands in the East Bayfront to the City for waterfront revitalization. In order to proceed with the proposed Option Agreement, City Council must provide consent for Toronto Port Lands Company to enter into the Option Agreement and exempt these properties from being transferred to the City.
The rail spur lands consist of 0.24 hectares (0.6 acres) and have no active use other than current uses by the Liquor Control Board of Ontario. Toronto Port Lands Company staff have determined that the highest and best use of the rail spur lands, consistent with the objectives of waterfront revitalization, is to combine the lands into a joint sale with the Liquor Control Board of Ontario. The lands are currently under review by the Lower Yonge Precinct Plan which when completed, will outline development and planning objectives for the site and overall area. Redevelopment of the lands would require the submission of planning application(s) to the City Planning Division and presentation to the Waterfront Design Review Panel.
In the event that a purchaser is not found for the development block, the lands will remain in the ownership of Toronto Port Lands Company.
Background Information
https://www.toronto.ca/legdocs/mmis/2014/ex/bgrd/backgroundfile-69428.pdf
Confidential Attachment 3
Motions
That the Executive Committee adopt the recommendation contained in the Confidential Attachment to the Motion by Councillor Shiner and request the City Manager to report directly to City Council this matter.