(Report dated June 1, 1998, addressed to Community and Neighbourhood Services Committee, fromEconomic Development, Culture and Tourism.)

SUBJECT:LAND ACQUISITION - PURCHASE OF LAND AT 3100 WESTON ROAD FROM THE ORDER OF ST. BASIL THE GREAT HOLDING CORPORATION

Recommendations:

It is recommended that:

(1)financing in the amount of $325,000.00 be approved. This amount will be financed from the Parkland Acquisition Reserve;

(2)funding, to a maximum of $325,000.00, be made available to the Toronto and Region Conservation Authority (TRCA) for the purchase of land at 3100 Weston Road, subject to TRCA approval of the purchase; and

(3)the appropriate City of Toronto officials be authorized and directed to take the necessary action.

Council Reference/Background/History:

The Parkland Acquisition Reserve was established in 1980 to provide financing for the acquisition of parkland. One of the primary focuses of this program since its inception, has been the acquisition of valleyland and waterfront properties.

Comments and/or Discussion and/or Justification:

Over the last year and a half, staff of the TRCA and this Department have attended a number of meetings and site visits with officials from The Order of St. Basil The Great Holding Company (The Order) regarding the acquisition of part of The Order=s lands west of Weston Road, south of Sheppard Avenue. The Order owns approximately 74 acres of flood plain and valleylands which includes a large pond and playing fields and approximately 57 acres of undeveloped valleylands.

The subject property is an important component of the Humber valley greenspace system. The acquisition is important for flood control, environmental and public open space purposes. The acquisition will also enable the completion of an important link in the Humber Trail, bringing the achievement of a continuous trail from the waterfront to Steeles Avenue much closer to reality.

The TRCA has obtained appraisals for the property and inclusive of legal fees, land transfer fees and disbursements, estimate the total cost to be $650,000.00. This amount would provide for the acquisition of the 57 acres of valleyland and a permanent easement over .45 acres of land adjacent to Weston Road to access the valleylands. The City of Toronto=s share will be 50% of these costs to a maximum of $325,000.00. Funds are available in the Parkland Acquisition Reserve account.

It is anticipated that acquisition of the property will be approved by the TRCA on June 26, 1998.

Conclusions:

The purchase of lands at St. Basil=s will greatly benefit the Toronto parks system by bringing a significant greenspace resource into public ownership.

The Commissioner of Finance agrees that the acquisition outlined in this report is consistent with the statement of purpose of the Parkland Acquisition Reserve and she concurs with the recommendations.

Contact Name and Telephone Number:

Frank Kershaw - 392-8199

(Copy of Map attached to this report is on file in the office of the City Clerk.)