Item - 2018.GM24.6

The Government Management Committee recommends that:

1.  City Council authorize the grant of easement interests to Toronto Hydro-Electric System Limited in relation to the Downsview Park Station lands located at 25 Vitti Street; and the Finch West Station and Bus Terminal lands located at 3965 Keele Street, as further identified in Appendices 1 and 2 to the report (December 20, 2017) from the Director, Real Estate Services, for nominal consideration and otherwise generally on the terms and conditions outlined in Appendices 1 and 2 to the report (December 20, 2017) from the Director, Real Estate Services, together with such other or amended terms and conditions as may be satisfactory to the Deputy City Manager, Internal Corporate Services.

2.  City Council authorize the Deputy City Manager, Internal Corporate Services to approve the grant of easements in favour of Toronto Hydro Corporation or its subsidiaries as long as the City remains a sole-shareholder of Toronto Hydro Corporation, at less than fair market value, and otherwise on terms satisfactory to the Deputy City Manager, Internal Corporate Services, at other City-owned properties, where such easement interests are required solely for the purpose of servicing City-owned lands, and are not for the purpose of providing electrical service to other properties.

3.  City Council authorize severally each of the Deputy City Manager, Internal Corporate Services and the Director, Real Estate Services to execute any documents or agreements relating to the transactions identified in Recommendations 1 and 2.

4.  City Council authorize the City Solicitor to complete the transactions identified in Recommendations 1 and 2, including making payment of any necessary expenses, and amending the closing date and other dates to such earlier or later date(s) and on such terms and conditions as the City Solicitor may consider reasonable.

The purpose of this report is to obtain City Council authority to grant easements in favour of Toronto Hydro Corporation or Toronto Hydro-Electric System Limited for nominal consideration where such easement is required solely for the purpose of servicing City-owned lands, including easements at the Downsview Park and Finch West Stations Lands.