May 5, 1999
To:Corporate Services Committee
From:President, Toronto Parking Authority
Subject:Renewal of Parking Lot Lease at Municipal Carpark 39
(Castlefield Avenue west of Yonge Street)
Purpose:
To renew a land lease between the City of Toronto, The Toronto Parking Authority and Ronald Buildings Limited at an
annual rent of $1.00 plus realty taxes in order to maintain the existing parking facility.
Funding Sources, Financial Implications and Impact Statement:
The City will lease the subject lands from Ronald Buildings Limited (the "Landlord") for use by the Parking Authority for a
further term of 21 years on the same terms and conditions as the expiring lease, including:
1. Annual rent of $1.00 plus taxes;
2. The Parking Authority will provide 45 free parking privileges at Carpark 39 daily on a 24 hour basis to the Landlord for
distribution as it sees fit to its officers, staff and tenants. The said parking privileges are not to be otherwise assigned or
sublet by the Landlord, its officers, staff and tenants and will contain in-and-out privileges;
3. The Parking Authority will use the leased lands for the purpose of operating a municipal parking lot;
4. The lease may not be assigned or sublet without the Landlord's consent;
5. The lease may be terminated upon giving the Landlord 30 days written notice. The Landlord has no rights of early
termination, except for default; and;
6. The lease may be renewed for successive terms of 21 years each.
Recommendations:
It is recommended that City Council:
1) Approve the lease renewal agreement, per the terms outlined above, with Ronald Buildings Limited for a further term of
21 years, in a form acceptable to the City Solicitor;
2)Authorize appropriate City Officials to undertake the actions necessary to give effect thereto;
Council Reference/Background History:
City Council, at its meeting held on October 9, 1956 passed By-law No. 19796 to acquire certain lands located on the north
side of Castlefield Avenue, west of Yonge Street, for municipal parking purposes.
Ronald Buildings Limited owns an L-shaped parcel of land located along the most northerly and westerly portions of the
existing lots municipally known as 567 Duplex Avenue and 12 Castlefield Avenue. An agreement was reached whereby the
City would lease this property to be operated by the Parking Authority, for municipal parking purposes, for a term of 21
years with the right to renew the lease in perpetuity in segments of 21 year terms. The second renewal term which
commenced in May 1978 was approved by the former City of Toronto Council at its meeting of March 28, 1978. The
second renewal term expired April 30th, 1999. The Toronto Parking Authority requires City Council approval for the next
renewal term.
Comments and/or Discussion and/or Justification:
Municipal Carpark 39, located near the intersection of Castlefield and west of Yonge Street, covers both the City owned
lands and the leased lands, and accommodates 163 spaces. The leased lands owned by Ronald Buildings Limited are an
integral part of the operation of that lot. The Parking Authority requires these lands to access the facility and, moreover, the
northerly portion of the leased lands accommodates over 30 vehicles. It is essential, in order to meet the parking needs of
the area, to continue this lease arrangement.
Conclusions:
The continued lease of these lands is critical to meet the long-term parking needs of the area. This transaction is beneficial
for the City and the Parking Authority as the Toronto Parking Authority is only required to pay operating costs related to
the premises and provide the owner with 45 parking spaces. For this reason, it is recommended that City Council approve
the lease renewal with Ronald Buildings Limited on the same terms and conditions as in the previous lease, subject to some
minor amendments that may result from changing the form of the lease.
Contact Names:
Maurice J. Anderson
President
Telephone:(416)393-7276
Facsimile:(416)393-7352
Lorne Persiko
Director, Real Estate & Development
Telephone:(416)393-7294
Facsimile:(416)393-7352
_________________________________
Maurice Anderson, President
C:\tpa\cp39corpserv.wpd
JC/jc
