STAFF REPORT
November 16, 1999
To: Scarborough Community Council
From: Acting Commissioner of Corporate Services
Subject: Sale of Surplus Scarborough Transporation Corridor Property
at 151 Eastwood Avenue
Ward 13 - Scarborough Bluffs
Purpose:
To authorize the disposal of the property municipally known as 151 Eastwood Avenue.
Financial Implications and Impact Statement:
Revenue in the amount of $171,000.00, less closing costs and the usual adjustments is anticipated.
Recommendations:
It is recommended that:
(1) the Acting Commissioner of Corporate Services or the Executive Director of Facilities and Real Estate be authorized to
accept the highest offer in the amount of $171,00.00 as detailed herein;
(2) Council, pursuant to Clause No. 14, Report No. 36 of the former Metropolitan Management Committee adopted on
September 24, 1994, waive the minimum required deposit of 10 percent 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. CA700CA2491.
(4) the City Solicitor be authorized and directed to take the appropriate action to complete the transaction on behalf of the
City of Toronto and be further authorized to amend the closing date to such earlier or later date as considered reasonable;
and
(5) the appropriate City Officials be authorized and directed to take the necessary action to give effect thereto.
Background:
The City of Toronto is the owner of 151 Eastwood 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 processes with respect to By-law No. 56-95 have been
complied with, a utility canvass has been completed and no requirements have been identified.
By its adoption of Clause No. 3 of Report No. 16 of the Corporate Services Committee of November 25, 26 and 27, 1998,
Toronto Council authorized that tenants not wishing to purchase their rented properties be offered a financial incentive to
vacate. The tenant, David Daffern, chose the financial incentive and vacated the premises on June 15, 1999 and thereafter
was credited with $3,465.53.
Comments:
Pursuant to the May 22, 1996 and November 25, 26 and 27, 1998 authorities, the property was listed with Coldwell Banker
Golden Key Realty Ltd. on October 26, 1999 at an asking price of $169,900.00. As a result, the following offers were
received:
Purchaser Purchase Price Deposit Terms
Ken Hermelijn $171,000.00 $10,000.00 No conditions
and Margot Hermelijn (certified)
Robert Nijsse $147,000.00 $7,500.00 No conditions
(certified)
The highest offer is recommended for acceptance:
Property Address: 151 Eastwood Avenue
Legal Description: Whole of lot 69, on the east side of Eastwood Avenue, Plan 1812, City of Toronto (formerly City of
Scarborough) as previously described in Instrument No. Scarb 427265.
Approximate Lot Size: 25 feet fronting on Eastwood, 129 feet depth.
Location: East side of Eastwood, north of Danforth road.
Improvements: Detached, two storey vinyl side dwelling.
Occupancy Status: Vacant
Recommended Sale Price: $171,000.00
Deposit: $10,000.00 (certified cheque)
Purchaser: Ken and Margot Hermelijn
Closing Date: January 31, 2000
Terms: Cash on closing, subject to the usual adjustments.
Listing Broker: Coldwell Banker Golden Key Realty Ltd.
Selling Broker: HomeLife/Vision Realty Inc.
Commission: Four (4) percent, plus GST, payable on closing of the transaction.
Conclusions:
Completion of the transition detailed above is considered fair, reasonable, and reflective of the market value.
Contact:
Vinette A. Brown, Property Manager, Telephone No.: 392-7138, Fax No. 392-1880, E-mail address: vbrown@toronto.ca
(scc99179)
Brenda Glover
Acting Commissioner of Corporate Services
