Item - 2021.MM37.30
Tracking Status
- City Council adopted this item on November 9, 2021 without amendments.
MM37.30 - Authorization to convert a Section 37 cash payment to an in-kind contribution for the construction and finishing of community space by 5200 Yonge Limited Partnership (Sorbara Development Group) - by Councillor John Filion, seconded by Councillor Mike Colle
- Decision Type:
- ACTION
- Status:
- Adopted
- Ward:
- 18 - Willowdale
City Council Decision
City Council on November 9, 10 and 12, 2021, adopted the following:
1. City Council increase the Approved 2021 Capital Budget for Corporate Real Estate Management by $434,036.99 gross, $0 net, (WBS Element CCA252-03 – State of Good Repair Leased Facilities/Properties) fully funded by Section 37 funds received from the development at 5182-5192, 5200 and 5218 Yonge Street (Source Account: XR3026-3700740) in order to fund and complete the on-site social facility space.
2. City Council direct that the $434,036.99 be forwarded to the Sorbara Development Group directly, subject to the Deputy City Manager, Corporate Services, signing off on the additional costs.
Background Information (City Council)
https://www.toronto.ca/legdocs/mmis/2021/mm/bgrd/backgroundfile-173007.pdf
(November 9, 2021) Fiscal Impact Statement submitted by the Chief Financial Officer and Treasurer
https://www.toronto.ca/legdocs/mmis/2021/mm/bgrd/backgroundfile-173131.pdf
Motions (City Council)
Speaker Nunziata advised Council that the provisions of Chapter 27, Council Procedures, need to be waived to permit introduction of Motion MM37.30. A two-thirds vote of Council Members present is required to waive notice.
Speaker Nunziata advised Council that the provisions of Chapter 27, Council Procedures, require that Motion MM37.30 be referred to the Executive Committee. A two-thirds vote of the Council Members present is required to waive referral.