Item - 2021.MM31.53
Tracking Status
- City Council adopted this item on April 7, 2021 without amendments.
- See also MM35.20
MM31.53 - 88 Queen Street East - Development Charges Deferral - by Councillor Kristyn Wong-Tam, seconded by Councillor Joe Cressy
- Decision Type:
- ACTION
- Status:
- Adopted
- Ward:
- 13 - Toronto Centre
City Council Decision
City Council on April 7 and 8, 2021, adopted the following:
1. City Council authorize the Chief Building Official and Executive Director, Toronto Building, in consultation with the Chief Financial Officer and Treasurer, to amend the development charges deferral agreement for the development proposal located at 88 Queen Street East and proceeding under Building Permit 19-262244, to defer the development charges with interest at the City's cost of capital plus 0.5 percent for three months after the issuance of the above grade building permit but no later than October 1, 2021 and shall be required to provide financial security if required by the Chief Financial Officer and Treasurer.
2. City Council request the Chief Financial Officer and Treasurer, in consultation with Chief Building Official and Executive Director, Toronto Building and the City Solicitor, to report to Executive Committee on the feasibility and implications of amending existing development charges payment agreements pursuant to the City's below grade conditional permit delegated authority that currently requires development charges to be collected at the time of issuance of building permit.
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:
88 Queen Street East - Development Charges Deferral
Reason for Urgency:
This Motion is urgent as without this deferral, the developer for 88 Queen Street East will experience significant unintended delays to their project, resulting in delays to new rental housing and future open space while staff respond to its request.