Item - 2015.EX6.6

The Executive Committee recommends that:

1.  City Council authorize the Chief Corporate Officer to negotiate the acquisition of approximately 2.0 acres of the westerly portion of the property municipally known as 2740 Lawrence Avenue East (hereafter "the Property") with the Toronto District School Board and Toronto Lands Corporation at the purchase price of $4.2 million, and authorize the City to enter into an agreement of purchase and sale substantially on the terms outlined in Attachment 1 to the report (May 11, 2015) from the Acting Deputy City Manager, Cluster A and the Deputy City Manager and Chief Financial Officer, and on such other terms and conditions and such related documents as may be acceptable to the Chief Corporate Officer and in a form satisfactory to the City Solicitor.

2.  City Council adjust the 2015 Capital Budget of Real Estate Services by adding a project "2740 Lawrence Avenue East - Land Acquisition" for the amount of $4.420 million, representing the purchase price and associated costs as identified in Attachment 1 to the report (May 11, 2015) from the Acting Deputy City Manager, Cluster A and the Deputy City Manager and Chief Financial Officer, for the acquisition of the Property, to be funded from the Land Acquisition Reserve Fund (LARF) (XR-1012).

3.  City Council request the Chief Planner and Executive Director, City Planning to initiate zoning by-law amendments respecting the Arsandco Investments Limited - Midland and Lawrence Avenues (southwest quadrant) and Ronco Developments - Midland and Lawrence Avenues (northwest quadrant) to amend the Section 37 agreement provisions to authorize additional capital improvements with respect to the funds previously secured but no longer needed for the original purpose, in order to reallocate funds in the amount of  $1,288,686.71 to reimburse a portion of the acquisition cost of the Property.

4.  City Council request the Chief Planner and Executive Director, City Planning, in consultation with affected Divisions, to negotiate the quantum and community facilities under Section 37 of the Planning Act to replenish the Land Acquisition Reserve Fund (LARF) from anticipated, uncommitted Section 37 funds arising from development at 2655 Lawrence Avenue East and the remainder of the Toronto District School Board's Surplus Parcel at 2740 Lawrence Avenue East, and that the sum equals the cost of the land for the parkland portion of the property, including all fees and disbursements. This amount will be negotiated with the developers in consultation with the local community and Councillor, and then be subject to a Statutory Public meeting under the Planning Act.  Community benefits will include local parkland in the vicinity of Midland and Lawrence Avenues.

5.  City Council direct that a community meeting be held in the area and that notice for the statutory public meeting under the Planning Act be given.

6.  City Council request the City Solicitor to prepare agreements amending the respective Section 37 agreements to secure the amended Section 37 community benefits arising from Recommendations 3, 4 and 5 above, and that the amending agreement be executed prior to the introduction of the Bill in Council.

7.  City Council authorize either of the Chief Corporate Officer or the Director, Real Estate Services to execute documents related to the acquisition of the Property on behalf of the City.

8.  City Council authorize the Chief Corporate Officer to administer and manage the transaction relating to the acquisition of the Property, including the provision of any consents, approvals, waivers and notices, provided that she may, at any time, refer consideration of any such matters (including their content) to City Council for its consideration and direction.

9.  City Council authorize the City Solicitor to complete the contemplated real property acquisition transaction 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.

This report seeks authority to access the Land Acquisition Reserve Fund under the School Lands Acquisition Framework in order to acquire a minimum of 2.0 acres from the surplus David and Mary Thomson Collegiate Institute site at 2740 Lawrence Avenue East in Ward 37 in the Bendale neighbourhood of Scarborough. The David and Mary Thomson CI site forms the southern portion of the Toronto District School Board's Lawrence-Midland redevelopment project. The acquisition is for the purposes of a new child care centre and parkland.