Date September 22, 1999
To: Administration Committee
From: Commissioner of Corporate Services
Subject: Lease Renewal of City-owned Land at the Northeast Corner of Dufferin Street and Finch Avenue West to Toronto
Transit Commission for a Bus Loop
(Ward 8 - North York - Spadina)
Purpose:
To renew the lease of the subject property with Toronto Transit Commission.
Financial Implications:
N/A.
Recommendations:
It is recommended that:
the lease with Toronto Transit Commission be renewed for a further term of ten years subject to the same terms and
conditions and in a form acceptable to the City Solicitor; and
the appropriate City Official be directed and authorized to take the necessary action to give effect thereto.
Background:
By adoption of Clause No. 14 of the Parks, Recreation & Property Committee Report No. 11, the former Municipality of
Metropolitan Toronto, at its meeting on July 5 and 6, 1989, approved the acquisition of the subject property from the
former Metropolitan Toronto and Region Conservation Authority for a nominal consideration of $2.00, and the lease to the
Toronto Transit Commission for a term of ten (10) years, at a rent of $10.00 per annum, net. The land contains an area of
approximately 1,097 square metres (11,808 square feet) and is being used for a bus loop facility.
In accordance with the executed lease dated March 25, 1991, and effective from July 6, 1989, the lease expired on July 5,
1999. Agreement has been reached with the Toronto Transit Commission that the lease be renewed for a further term of ten
(10) years on the same terms and conditions, including the rent.
Comments:
Reference is made to Clause No. 9 of Report No. 2 of the Management Sub-Committee, as approved by the former
Metropolitan Council on April 4, 1978, which established policy requirements and exemptions with respect to rentals and
sales of Metro-owned properties where Metropolitan Boards and Commissions are concerned.
Conclusion:
I am of the opinion that this circumstance meets the exemption criteria and accordingly, recommend this lease arrangement
at a nominal sum of Ten Dollars ($10.00) per annum, net.
Contact Name:
Tony Pittiglio, Manager, Leasing & Site Management, Facilities and Real Estate Division; Telephone No.: (416) 392-8155;
Fax No.: (416) 392-1880; Report No.: AC 99129
Brenda Glover
Acting Commissioner of Corporate Services
FVC/wvm
