June 3, 1999

To:Economic Development and Parks Committee

From:Joe Halstead, Commissioner Economic Development, Culture & Tourism

Subject:Woodbine Park School Site - Toronto District School Board Option Agreement, Ward 26 - East Toronto

Purpose:

To amend the existing Option Agreement dated June 6, 1996, between the City and the Toronto District School Board (TDSB) to allow the TDSB's option to purchase the City owned school site at Woodbine Park for the purpose of building a school and the City's option to improve these lands as a public park in the interim, to remain open indefinitely.

Financial Implications:

There are no financial implications.

Recommendations:

It is recommended that:

1. that City Council authorize the appropriate City officials to enter into an amending agreement to the Option Agreement dated June 6, 1996, between the City and the Toronto District School Board, to remove the time restriction with respect to the TDSB's right to exercise the option to purchase the Woodbine Park school site from the City.

Background:

In May of 1996, the TDSB waived its normal requirement for an education levy, in conjunction with the proposed Woodbine Park residential development, in return for a 4.3 acre parcel of land to build a school. Section 5.7 of the Section 37 agreement between the City and the owner of the lands, EMM Financial Corp., acknowledges that the school site is being conveyed to the City and the City is granting the TDSB an option to purchase the site for a nominal amount, for up to five years after the City has delivered notice of acquisition. The Section 37 agreement allows the City to hold the land and improve it for park use until such time as the TDSB has obtained a building permit for construction of a school. If the TDSB chooses not to build on the land, it will continue to be owned by the City and used as a park.

The Option Agreement between the City and the TDSB sets out the TDSB's option to purchase the school site provided the TDSB delivers notice of the exercise of the option to the City within 5 years of having been notified by the City that the site has been acquired. The City Solicitor has advised that notice of the acquisition has been sent to the TDSB through its solicitor.

Comments:

The Ward Councillors have suggested that there be no time restriction on the TDSB's option to purchase the school site from the City. The TDSB staff has advised that they are in agreement that there be no time restriction on the TDSB to obtain the site and they are prepared to have the Option Agreement amended accordingly.

Staff supports the proposal put forward by the Ward Councillors and the TDSB that the TDSB's option to build a school on the lands in the future, and the City's option to improve these lands as public park in the interim have an indefinite timeframe..

Conclusion:

It is recommended that the existing option agreement between the City and the TDSB be amended to remove any time restriction on the TDSB's option to purchase the City owned school site at Woodbine Park.

Contact Name:

Susan Richardson

Parks and Recreation Division

392-1941

Joe Halstead

Commissioner Economic Development, Culture & Tourism