June 3, 1999
To:Administration Committee
From:Commissioner of Corporate Services
Subject:3885 Yonge Street, The Jolly Miller, Toronto
(Ward 9 - North York Centre South)
Purpose:
To advise the Committee on the status of the Jolly Miller lease.
Funding of Sources, Financial Implications and Impact Statement:
No financial implications at this stage.
Recommendations:
It is recommended that:
1. staff continue negotiations with Prime Asset Management to finalize the Jolly Miller lease;
2. staff submit a report to Council through the Administration Committee recommending the terms of the lease; and
3. the appropriate City Officials be authorized and directed to take the necessary action to give effect thereto.
Council Reference/Background/History:
Clause embodied in Report No. 13 of the North York Community Council, as adopted by the Council of the City of
Toronto at its meeting held on November 25, 26 and 27, 1998, recommended that staff be authorized to negotiate within 6
months, a lease with Prime Asset Management Corporation for tenancy of the property at 3885 Yonge Street, known as
"The Jolly Miller". Once negotiated, the lease is to be forwarded to Council for approval through the Corporate Services
Committee (now known as Administration Committee).
Furthermore, by Clause embodied in Report No. 4 of the Corporate Services Committee, as adopted by the Council of the
City of Toronto at its meeting held on April 13, 14, and 15, 1999, the subject property was declared surplus to the needs of
the City for the lease term of fifty (50) years. It was recommended that staff submit a report to Corporate Services
Committee addressing the terms and conditions of the lease after the notification period has expired.
Comments and/or Discussion and/or Justification:
Further to Council's recommendation directing staff to negotiate within 6 months a lease of the subject property with the
tenant, we wish to advise negotiations are still ongoing at this time.
Currently, there are issues concerning restoration and some terms of the lease which are still being negotiated. Furthermore,
the property was declared surplus to the City's requirements and the notification period expired on June 1, 1999. Therefore,
a longer time frame is required to finalize our negotiations.
A draft lease document has been prepared by the Legal Division which has been forwarded to the tenant.
Conclusion:
The leasing of the Jolly Miller site has been a joint venture of the Corporate Services and Economic Development, Culture
and Tourism Departments. Both departments are in agreement the lease negotiations require more time for finalization.
Contact Name:
Vicky Papas, 392-1830; Fax: 392-1880; E-Mail address: papas@toronto.ca.
Margaret Rodrigues
Commissioner of Corporate Services
