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Parkland Dedication Requirement
800 Sheppard Avenue East
Permit No. B-97-04797
File No. 97-036-02 FA57 (North York Spadina - Ward 8)
The Corporate Services Committee recommends the adoption of the following report (January 19, 1998) from the Commissioner of Corporate Services:
Purpose:
To accept payment in lieu of parkland for a property appraised at more than $1 million, according to the procedures of the former municipality of North York, for land located on Sheppard Avenue West, east of the Allen Arterial Road.
Recommendations:
It is recommended that:
(1) the City accept the sum of $894.00 from the developer to satisfy the two percent cash-in-lieu requirement, and the sum of $57,766.00 to satisfy the five percent cash in lieu requirement;
(2) these funds be credited to Account No. 007-420-0010-9110 (two percent cash contribution in-lieu of land) and to Account No. 007-420-0008-9110 (five percent cash contribution in-lieu of land);
(3) the Commissioner of Parks and Recreation of the former municipality of North York advise the applicant and the Building Commissioner accordingly; and
(4) the appropriate City Officials be authorized to do all things necessary to give effect thereto.
Comments:
In accordance with the administrative procedures of the former municipality of North York to be used for Section 42 of the Planning Act, Council must approve the five percent and two percent cash-in-lieu contribution where the appraised value is in excess of one million dollars.
The development proposed on the site is a six storey mixed use development comprising 2,850 ft2 (264.75 m2) of commercial space and 73,683 ft2 (6,845.17 m2) of residential gross floor area, and containing 58 residential units. The total gross floor area is 76,532 ft2 (7,109.82 m2). Parking is provided for 93 vehicles of which 6 are surface spaces and 87 are underground.
An appraisal report has been prepared by Rudi Pestl AACI, staff appraiser. The standard cash-in-lieu contribution of two percent of the market value of the vacant land for the commercial component of the proposed project is $894.00 and the standard cash-in-lieu contribution of five percent of the market value of the vacant land for the residential component of the proposed project is $57,766.00. The cash-in-lieu contributions are based upon an estimated value of $1,200,000.00 for the subject property as of November 10, 1997.
The value expressed herein is valid for a period of three months from the date of acceptance of this report, after which time the value is subject to review and possible revision by this Department.
Contact Name:
Rudi Pestl, Telephone: 395-6846, Fax: 395-6703
(A copy of the location map attached to the foregoing report is on file in the office of the City Clerk.)
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