Item - 2022.MM45.7
Tracking Status
- City Council adopted this item on June 15, 2022 without amendments.
MM45.7 - Authorization to Release Section 37 Funds from the Development at 859, 861 and 875 Eglinton Avenue West and 2020 Bathurst Street for the laneway improvements to Reggae Lane in the York-Eglinton Business Improvement Area - by Councillor Josh Matlow, seconded by Councillor Mike Colle
- Decision Type:
- ACTION
- Status:
- Adopted
- Ward:
- 12 - Toronto - St. Paul's
City Council Decision
City Council on June 15 and 16, 2022, adopted the following:
1. City Council increase the 2022-2031 Approved Capital Budget and Plan for Economic Development and Culture by $350,000 gross and $0 debt in project costs with cash flow funding of $50,000 in 2022 and cash flow commitments of $250,000 in 2023 and $50,000 in 2024 , fully funded by Section 37 funds obtained from the development at 859, 861 and 875 Eglinton Avenue West and 2020 Bathurst Street (Source Account: XR3026-3701174), for the laneway improvements to Reggae Lane, in the York Eglington Business Improvement Area (WBS element: CED104-28 – Planning Act Revenue York Eglinton).
Background Information (City Council)
https://www.toronto.ca/legdocs/mmis/2022/mm/bgrd/backgroundfile-226848.pdf
(June 15, 2022) Fiscal Impact Statement from the Chief Financial Officer and Treasurer
https://www.toronto.ca/legdocs/mmis/2022/mm/bgrd/backgroundfile-227557.pdf
Motions (City Council)
Speaker Nunziata advised Council that the provisions of Chapter 27, Council Procedures, require that Motion MM45.7 be referred to the Executive Committee. A two-thirds vote of the Council Members present is required to waive referral.