April 13, 1999
To:Scarborough Community Council
From:H.W.O. Doyle
Subject:Servicing Agreement dated October 31, 1990
between Lesspeak Investments Limited and City of Toronto (formerly City of Scarborough)
1281 Meadowvale Road, Scarborough
Purpose:
Lesspeak Investments Limited entered into a Servicing Agreement with the former City of
Scarborough dated October 31, 1990 to service their lands on the east side of Meadowvale
Road, north of Sheppard Avenue, known as 1281 Meadowvale Road. We are in receipt of a
request from the Owner's agent to terminate the agreement and to release the performance
guarantee as the owner is not pursuing the development of the site at this time.
Funding Sources, Financial Implications and Impact Statement:
not applicable
Recommendations:
1.That the Servicing Agreement dated October 31, 1990 between Lesspeak Investments
Limited and City of Toronto (formerly City of Scarborough) be terminated.
2.That the performance guarantee held by the City be released.
Comments and/or Discussion:
Lesspeak Investments Limited entered into a Servicing Agreement with the former City of
Scarborough dated October 31, 1990 to service their lands on the east side of Meadowvale
Road, north of Sheppard Avenue, known as 1281 Meadowvale Road.
Staff of Works & Emergency Services and City Planning Departments have reviewed the
Owner's request and have no objections to the termination of the agreement and release of the
securities.
Contact Name:
Anna Kinastowski, Director
Planning & Administrative Tribunal Law
Tel: (416) 392-0080
Fax: (416) 392-0530
H.W.O. Doyle
City Solicitor
Legal Services