To:Corporate Services Committee
From:Commissioner of Corporate Services
Subject:Sale of Land--Land North of Lane, Near North-West Corner of Royalavon Crescent and Dundas Street West
(Ward 3 - Kingsway Humber)
Purpose:
To authorize the sale of the property described in this report.
Financial Implications:
Revenue in the amount of $143,000.00, plus interest, will be generated from the sale of these lands and the City will be
relieved of ongoing maintenance costs. Furthermore, the property will be assembled with the adjoining private property to
promote development and expand the City's tax base.
Recommendations:
It is recommended that:
(1)the surplus property described as Part of Block A, Registered Plan 1602, located north of the lane near the north-west
corner of the intersection of Royalavon Crescent and Dundas Street West, being vacant land comprising an area of 1,203
m2 (12,950 sq. ft.) be sold to Threemor Enterprises Ltd., In Trust, at a price of $143,000.00, subject to the terms and
conditions set out in the body of this report;
(2)the City Solicitor be authorized to complete this transaction and pay any expenses incurred by the City incidental to
the closing of the transaction or otherwise; and
(3)the appropriate City officials be authorized and directed to take the necessary action to give effect thereto.
Background:
City Council, at its meeting held on October 1 and 2, 1998, adopted, without amendment, Clause No. 26 contained in
Report No. 13 of the Corporate Services Committee, thereby declaring the subject property surplus to City requirements
and directing staff to offer it for sale to the abutting owner.
A poll was taken to determine if there exists any municipal interest in retaining this property and no interest was expressed
in this parcel of land save and except for the sewer easement requirements. The notice of surplus was published in the
local newspaper.
Comments:
The subject property is vacant land located on the north side of the of the public lane, near the north- west corner of the
intersection of Royalavon Crescent and Dundas Street West, in the former City of Etobicoke. Following a review of its
property inventory by former City of Etobicoke staff, the subject strip of land was considered surplus to City needs and
available for assembly with the adjoining residential properties provided that an easement was reserved to protect the large
diameter storm sewer located beneath the surface.
The land is irregular in shape ranging from 15.24 m (50') to 21 m (69') in depth by a length of 71 m (232') along the public
lane, and can only be accessed by the laneway. Due to the subterranean storm sewer and the property's physical
characteristics, the City-owned land does not have independent development potential and would be suitable for assembly
with the adjoining residential properties. At this time a developer has secured options on several adjacent single family
dwellings and their over-sized lots with a view to rezoning the land and developing it with townhouse units. In order to
fully utilize the City land to its highest and best use, the purchaser would be responsible for relocating the sewer.
An independent appraisal was received from Cornwall Property Consultants which suggested a market value of
$165,000.00. An offer of $143,000.00 was received from Threemor Enterprises Ltd., In Trust, and is considered to be
reasonable given that the property has no independent development potential and is encumbered by a large municipal
sewer line.
The Offer to Purchase the City land is summarized below:
Property:Part of Block A, Registered Plan 1602, formerly in the City of Etobicoke, now City of Toronto
Area:1,203 m2 (12,950 sq. ft.)
Zoning:R2 - Residential Second Density
Purchaser:Threemor Enterprises Ltd., In Trust
Purchase Price:$143,000.00 plus interest at prime on the balance of the purchase price from the date of acceptance to
closing
Deposit:$14,300.00
Intended Use:Residential Townhouse Site Assembly
Closing Date:30 days after site plan approval
Terms:Cash on closing, subject to the usual adjustments
Other Conditions:-Reservation of municipal services easement.
-Property sold on an "as is" basis.
-Purchaser responsible for own environmental due diligence.
-Purchaser to secure acceptance to offers to purchase adjacent Tyre Avenue properties on or before June 30, 1999.
-Purchaser to obtain site plan approval for townhouse construction on or before 18 months after the date of acceptance by
City.
-Nothing in the Agreement shall restrict or fetter the discretion of Council pursuant to any statute, by-law, or regulation.
Conclusion:
The property is surplus and it is recommended that it be sold for assembly with the abutting residential property. The
proposed terms and conditions are considered reasonable.
Contact Name:
Francois (Frank) G. Bedard, Telephone: (416) 394-8096; Fax No.: (416) 394-8895;
E-mail: fbedard@pathcom.com. (cs99004.wpd)
Margaret Rodrigues
Commissioner of Corporate Services
