Item - 2018.MM44.116
Tracking Status
- City Council adopted this item on July 23, 2018 without amendments.
MM44.116 - Authorization to Release Section 37 (Planning Act) Funds from various developments to purchase additional space at the Indigenous Centre for Innovation and Entrepreneurship located at 200 Dundas Street East - by Councillor Kristyn Wong-Tam, seconded by Councillor Mary-Margaret McMahon
- Decision Type:
- ACTION
- Status:
- Adopted
- Ward:
- 27 - Toronto Centre-Rosedale
City Council Decision
City Council on July 23, 24, 25, 26, 27 and 30, 2018, adopted the following:
1. City Council amend the 2018 Council Approved Capital Budget for Facilities, Real Estate, Environment and Energy by adding a new capital project "200 Dundas Street East" with a total project cost of $2.2 million, representing the purchase price and associated costs to secure 203.9 square metres of space located at 200 Dundas Street East, fully funded by Section 37 community benefits from the following developments:
a. 59-71 Mutual Street, secured to acquire approximately 203.9 square metres (2,195 square feet) of at-grade space known as Retail “C” space, which is contiguous to approximately 1,300 square metres (13,993 square feet) of community space previously secured by the City, for conveyance to a non-profit agency as community space, such agreement to be in a form and with content satisfactory to the City Solicitor in consultation with the Chief Planner and Executive Director, City Planning as per conditions approved by City Council at its July 4, 5 and 6, 2017, meeting, in the amount of $1,200,000.00;
b.70 and 72 Carlton Street, secured for new community space in Ward 27, in the amount of $349,036.46 (Source Account: 220096);
c. 387-403 Bloor Street East and 28 Selby Street, secured for the capital improvement of existing or the creation of new community and/or cultural space in Ward 27, in the amount of $337,260.00 (Source Account: 220096); and
d. 587 to 599 Yonge Street, 2 and 4 Dundonald Street, and 7 and 9 Gloucester Street, secured for Toronto Community Housing Corporation for capital improvements and/or community, cultural or recreational space improvements in the local area, in the amount of $313,703.54 (Source Account: 220096).
Background Information (City Council)
Motions (City Council)
That Councillor Kristyn Wong-Tam be permitted to add to the agenda of today's meeting an urgent Motion without Notice concerning:
Authorization to Release Section 37 (Planning Act) Funds from various developments to purchase additional space at the Indigenous Centre for Innovation and Entrepreneurship located at 200 Dundas Street East
Reason for Urgency:
This Motion is urgent as a Section 37 condition of approval for the development of the Mutual Street property, the developer of that property is required to secure additional community space at 200 Dundas, where existing community space has already been secured as a condition of that development. Mutual are providing funding in the amount of $1.2 million to do so. Any shortfall in the cost of acquiring the additional space at 200 Dundas is to be provided by the City. The shortfall has been identified at $1 million. It is required at this time in order for this transaction to close this year. Delay to next year may jeopardize the acquisition of this additional space.