March 22, 1999

To:Corporate Services Committee

From:Commissioner of Corporate Services

Subject:Sale of Surplus Scarborough Transportation Corridor Property

at 212A Clonmore Drive

(Ward 13 - Scarborough Bluffs)

Purpose:

To authorize the disposal of the property municipally known as 212A Clonmore Drive.

Funding Sources, Financial Implications and Impact Statement:

Revenue of $147,000.00, less closing costs and the usual adjustments is anticipated.

Recommendations:

It is recommended that:

(1)the Commissioner of Corporate Services or the Executive Director of Facilities and Real Estate be authorized to accept this offer in the amount of $147,000.00 as detailed herein;

(2)Council, pursuant to Clause No. 14, of Report No. 22 of the former Metropolitan Management Committee adopted on September 28, 1994, waive the minimum required deposit of 10 per cent. of the purchase price;

(3)authority be granted to direct a portion of the sale proceeds on closing to fund the outstanding balance of Costing Unit No. CA700CA2478;

(4)the City Solicitor be authorized and directed to take the appropriate action, in complete the transaction on behalf of the City and he be further authorized to amend the closing date to such earlier or later date as he considers reasonable; and

(5)the appropriate City Officials be authorized and directed to take the necessary action to give effect thereto.

Council Reference/Background/History:

The City of Toronto is the owner of 212A Clonmore Drive. By its adoption of Clause No. 1 of Report No. 11 of The Corporate Administration Committee on May 22, 1996, the former Metropolitan Council declared the property surplus pursuant to By-Law No. 56-95 and authorized its disposal. The procedures with respect to By-Law No. 56-95 have been complied with, a utility canvass has been completed and no requirements have been identified.

Comments and/or Discussion and/or Justification:

Pursuant to the May 22, 1996 authority, negotiations were conducted with the tenant, Susan Strudwick and the following offer was received:

Property Address:212A Clonmore Drive

Legal Description:Part of Lot 2, Plan 1756, City of Toronto

Approximate Lot Size:8.23 metres (27 feet) fronting onto Clonmore Drive

49.76 metres (163.25 feet) depth (irregular)

Location:North side of Clonmore Drive, west of Warden Avenue, north of Kingston Road

Improvements:Detached, 3 bedroom, 2 storey dwelling

Occupancy Status:Tenanted

Recommended Sale Price:$147,000.00

Deposit:$3,600.00 (bank draft)

Purchaser:Susan Strudwick

Closing Date:July 2, 1999

Terms:Cash on closing, subject to the usual adjustments.

Conclusion:

Completion of this transaction detailed above is considered fair and reasonable and reflective of market value.

Contact Name:

Michelle DeVey, Valuator-Negotiator, Real Estate Services, (416)392-8160, Fax No.: (416)392-4828, E-Mail Address: michelle_devey@metrodesk.metrotor.on.ca (cc99051.wpd)

Margaret Rodrigues

Commissioner of Corporate Services

Mde/vp