Item - 2016.BU20.2

Tracking Status

This item was considered by Budget Committee on April 26, 2016 and was adopted without amendment.
See also EX15.15

BU20.2 - Adjustment to the 2016 - 2025 Parks, Forestry and Recreation Capital Budget and Plan to Fund the Acquisition of 47 Cedarcrest Boulevard

Decision Type:: ACTION

Status:: Adopted

Ward:: 31 - Beaches-East York

Confidential Attachment - A proposed or pending acquisition or sale of land for municipal or local board purposes

Committee Decision

The Budget Committee recommends that:

1. City Council adjust the 2016-2025 Parks, Forestry and Recreation Capital Budget and Plan by adding a new capital sub-project known as "Acquisition of 47 Cedarcrest Boulevard" with a cash flow identified in Confidential Attachment 1 to the report (April 11, 2016) from the General Manager, Parks, Forestry and Recreation to be funded from the Parkland Acquisition – East York Local Land Reserve Fund (XR2033) until depleted, the Parkland Acquisition – East York Reserve Fund (XR2055) until depleted; with the balance from Parkland Acquisition South District Local Land Reserve Fund (XR2208).

2. City Council direct that Confidential Attachment 1 to the report (April 11, 2016) from the General Manager, Parks, Forestry and Recreation remain confidential under the provisions of the City of Toronto Act, 2006, as it relates to the acquisition by the City of property.

3. City Council authorize the public release of the confidential information and recommendations contained in Confidential Attachment 1 to the report (April 11, 2016) from the General Manager, Parks, Forestry and Recreation following the closing of any purchase transaction.

Origin

(April 11, 2016) Report from the General Manager, Parks, Forestry and Recreation

Summary

The purpose of this report is to obtain authority from City Council to adjust the 2016 – 2025 Capital Budget and Plan for Parks, Forestry and Recreation by creating a new capital sub-project, in the Land Acquisition project, to fund the acquisition of 47 Cedarcrest Boulevard for parkland purposes.

Background Information

(April 11, 2016) Report and Attachment 2 from the General Manager, Parks, Forestry and Recreation on Adjustment to the 2016 - 2025 Parks, Forestry and Recreation Capital Budget and Plan to Fund the Acquisition of 47 Cedarcrest Boulevard
https://www.toronto.ca/legdocs/mmis/2016/bu/bgrd/backgroundfile-91992.pdf
Confidential Attachment 1

Motions

1 - Motion to Adopt Item moved by Councillor Gary Crawford (Carried)