Item - 2021.GL22.10

The General Government and Licensing Committee recommends that:  

1. City Council authorize the City to enter into an agreement of purchase and sale with Metrolinx for the acquisition by the City of a portion of the property known municipally as 2050 Finch Avenue West, shown in the sketch attached as Attachment A to the report (April 12, 2021) from the Executive Director, Corporate Real Estate Management, substantially on the terms set out in Attachment B to the report (April 12, 2021) from the Executive Director, Corporate Real Estate Management, and including such other terms as may be satisfactory to the Executive Director, Corporate Real Estate Management, in a form satisfactory to the City Solicitor.

2. City Council direct the Executive Director, Corporate Real Estate Management, in consultation with the Executive Director, Social Development Finance and Administration, CreateTO and the appropriate City divisions, to work with the Jane-Finch Community Hub and Centre for the Arts Organizing Committee on the development of the implementation strategy for the proposed Jane-Finch Community Hub and Centre for the Arts and report back to City Council through the appropriate committee in the first quarter of 2022 on a collaborative work program that would include, but not be limited to:

a. establishing a framework for collaboration (such as a terms of reference);

b. collaboratively working to identify funding opportunities to support the pre-development phase;

c. developing a joint Community Engagement and Consultation strategy; and

d. developing a joint plan for the subsequent phase of the development.

The General Government and Licensing Committee requested the Executive Director, Corporate Real Estate Management to report directly to the May 5 and 6, 2021 meeting of City Council on:

a. the approximate size of the parcel of land to be transferred;

b. the assembly of land, given that it is currently 3 separate lots; and

c. the approximate timeline for the transfer to occur.

This report seeks Council authority to enter into an agreement of purchase and sale with Metrolinx, substantially on the terms and conditions outlined in Attachment B to this report, for acquisition of a portion of the property municipally known as 2050 Finch Avenue West, such portion more particularly shown outlined in the sketch attached to this report as Attachment A (the "Subject Property") for use as a community hub. The major terms and conditions were finalized by Corporate Real Estate Management, in partnership with CreateTO, and through working with other City divisions, including City Planning, Social Development, Finance and Administration, Economic Development and Culture, Transit Expansion Office and Legal Services, and in consultation with the local Councillor. The agreement of purchase and sale will set out the terms and conditions to effect the transfer of the Subject Property, in fee simple, to the City of Toronto (the "City") for nominal consideration.

Following to the transfer of the Subject Property to the City, Corporate Real Estate Management and CreateTO will support the aforementioned City divisions while they continue to work closely with the local community to further develop the concept for a future community hub and centre for the arts at 2050 Finch Avenue West, building on a 2019 feasibility study undertaken by the Jane-Finch community in consultation with the City of Toronto, and create an implementation strategy. Such efforts are aligned with the development of a complete community framework for the area under the Jane-Finch Initiative that is currently underway, as well as recommendations of EX17.1, "Towards Recovery and Building a Renewed Toronto" report.

Upon completion of the acquisition, the City will grant an easement in favour of Metrolinx over the entirety of the Subject Property to allow Metrolinx to finish the construction of an adjacent Maintenance and Storage Facility for light rail vehicles, as a part of the Finch-West Light Rail Transit project. The easement will expire upon completion of the Maintenance and Storage Facility, which is anticipated in 2023.