May 3, 1999
To:Corporate Services Committee
From:Commissioner of Corporate Services
Subject:Sale of Surplus Scarborough Transportation Corridor Property
at 106 Aylesworth Avenue
(Ward 13 - Scarborough Bluffs)
Purpose:
To authorize the disposal of the property municipally known as 106 Aylesworth Avenue.
Funding Sources, Financial Implications and Impact Statement:
Revenue of $115,000.00, 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 $115,000.00 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. OCA700CA2471;
(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 106 Aylesworth Avenue. 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 tenants, Paul and Connie Carreau, and the
following offer was received:
| Property Address: |
106 Aylesworth Avenue |
| Legal Description: |
Lots 3 and 4, Plan 2194, designated as Parts 1 and 2 on
Plan 64R-11446 subject to a right-of-way, City of
Toronto |
| Approximate Lot Size: |
9.75 metres (32 feet) fronting onto Aylesworth Avenue
40.23 metres (132 feet) depth (irregular) |
| Location: |
Northwest side of Aylesworth Avenue, east of Kennedy
Road north of Kingston Road |
| Improvements: |
Detached, 2 bedroom, stucco bungalow |
| Occupancy Status: |
Tenanted |
| Recommended Sale Price: |
$115,000.00 |
| Deposit: |
$1,000.00 |
| Purchaser: |
Paul and Connie Carreau |
| 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:
Melanie Hale-Carter, Valuator-Negotiator, Real Estate Services, (416) 397-0585, Fax No.: (416)392-4828, E-Mail Address:
melanie_halecarter@metrodesk.metrotor.on.ca (cs99076.wpd)
Margaret Rodrigues
Commissioner of Corporate Services
MHC/vp
