Item - 2021.MM35.2
Tracking Status
- City Council adopted this item on July 14, 2021 without amendments.
MM35.2 - Authorization to convert a cash-in-lieu Section 37 payment to an in-kind contribution for the construction of a PATH tunnel beneath Simcoe Street by Cadillac Fairview (Frontside Developments LP) - by Councillor Joe Cressy, seconded by Councillor Mike Layton
- Decision Type:
- ACTION
- Status:
- Adopted
- Ward:
- 10 - Spadina - Fort York
City Council Decision
City Council on July 14, 15 and 16, 2021, adopted the following:
1. City Council increase the 2021 Council Approved Operating Budget for Non-Program (NP2161), by $1,776,997.84 gross, $0 net, fully funded by Section 37 funds obtained from the development at 156-174 Front Street West and 43-51 Simcoe Street (Source Account: XR3026-3701064) for PATH construction.
2. City Council direct that the $1,776,997.84 be forwarded to Cadillac Fairview directly, once an Encroachment Agreement has been executed and conditional on receipt of a letter of credit being in place to complete the PATH tunnel to the satisfaction of the General Manager, Transportation Services.
Background Information (City Council)
Motions (City Council)
Speaker Nunziata advised Council that the provisions of Chapter 27, Council Procedures, require that Motion MM35.2 be referred to the Executive Committee. A two-thirds vote of the Council Members present is required to waive referral.