July 2, 1998

 To:Corporate Services Committee

 From:Commissioner of Corporate Services

 Subject:734 Woburn Avenue - Proposed Purchase of Land from Angela and Patrick McMahon, for Parks Purposes

(Ward 9 - North York Centre South)

 Purpose:

 To seek Council's authority to purchase the residential property located at 734 Woburn Avenue for parks purposes, based on an Offer to Sell made by the owners to the City.

 Financial Implications:

 The total cost of this acquisition to be funded from the $2,600,000.00 parkland acquisition program (Phase Two) in North York Region as approved by Toronto City Council on April 29, 1998 as part of the 1998 Capital Budget (Item #698). Demolition and basic site restoration costs will also be funded from this allocation. Subject to consultation with the local community, any additional park development requirements would be part of a future Capital Budget submission.

 Recommendations:

 It is recommended that:

(1)the Offer to Sell for the subject property in the amount of $350,000.00 plus an additional $9,000.00 to compensate the owner for legal fees and disbursements to complete this transaction and relocation costs be approved; and

 (2)the appropriate City Officials be authorized to do everything necessary to give effect thereto.

 Background:

 Funding for Phase Two of the parkland acquisition program for North York Region in the amount of $2,600,000 was authorized by Toronto City Council at their meeting of April 29, 1998 through their approval of the 1998 Capital Budget (Item #698). Phase Two is a continuation of a parkland acquisition program initiated by the City of North York in early 1997, the results of which are detailed in a report to North York Community Council dated February 5, 1998. That report also outlines the rationale and direction for the implementation of Phase Two, of which the subject property is part.

Comments:

 The subject property is an improved residential property having a frontage of 40 feet by 120 feet in depth. In brief, it is legally described as Lots 298 and 299, Registered Plan M109 and is located on the north side of Woburn Avenue. It should be noted that the City already owns 732 and 736 Woburn Avenue, all of which abut the southern boundary of Woburn Park (see Appendices A & B). Woburn Park is located in the Bedford Park Residential Community which is deficient in parkland by 8.62 ha.

 In accordance with the implementation of Phase Two of the parkland acquisition program, negotiations commenced with the owners of the subject property and an Offer To Sell dated June 5, 1998 has been secured. In brief, the terms provide for a purchase price of $350,000.00 plus an additional $9,000.00 to compensate the owner for legal fees and disbursements to complete this transaction and relocation costs. The Agreement also stipulates that the owners shall have the right to leaseback the property for a maximum of 24 months from the date of completion of the transaction at a rental of $500.00 per month. During such tenancy, the vendors are responsible for utilities, heating costs, tenants insurance and any necessary repairs to the premises.

 An appraisal of the property was prepared by Stewart Young, Hillesheim & Atlin Limited as of June 1, 1998 in the amount of $350,000.00. The Offer to Sell reflects this appraised value and staff of Parks and Recreation, North York Region, have advised that they concur with this acquisition including the leaseback of the property for a maximum period of 24 months.

 Conclusion:

 The acquisition of the subject property completes Parks and Recreation's acquisition goals in the south westerly corner of Woburn Park and will permit future expansion and development of the park.

 Contact Name:

 Rudi Pestl, Tel: 395-6846, Fax: 395-6703, E-mail: rpestl@north-york.on.ca (cs98124.wpd)

 Margaret Rodrigues

Commissioner, Corporate Services