Sale of Surplus Scarborough Transportation

Corridor Property at 42 Darrell Avenue

(Ward 26 - East Toronto)

The Corporate Services Committee recommends the adoption of the following report (April29, 1999) from the Commissioner of Corporate Services:

Purpose:

To authorize the disposal of the property municipally known as 42 Darrell Avenue.

Funding Sources, Financial Implications and Impact Statement:

Revenue of $127,000.00 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 $127,000.00 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. CA700CA2485;

(4)the City Solicitor be authorized and directed to take the appropriate action, to 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 42 Darrell 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. 96-95 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, Betty Bedford and Patrick Ernest Wilcox and the following offer was received:

Property Address:42 Darrell Avenue.

Legal Description:Part of Lots 46 and 47 on the north side of Darrell Avenue, Registered Plan 453E, City of Toronto.

Approximate Lot Size:4.62 metres (15.17 feet) fronting onto Darrell Avenue,

24.61 metres (80.75 feet) depth.

Location:North side of Darrell Avenue, west of Golfview Avenue.

Improvements:Semi-detached 2 bedroom, 2 storey dwelling.

Right-of-way:Subject to a mutual right-of-way.

Occupancy Status:Tenanted.

Recommended Sale Price:$127,000.00.

Deposit:$1,000.00 (money order).

Purchasers:Betty Bedford and Patrick Ernest Wilcox.

Closing Date:July 16, 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:

Ms. Sheryl Badin, Real Estate Services, (416)392-8142, Fax No.: (416)392-4828, E-Mail Address: sheryl_badin@metrodesk.metrotor.on.ca.

(A copy of the map attached to the foregoing report was forwarded to all Members of Council with the May20, 1999, agenda of the Corporate Services Committee and a copy thereof is also on file in the office of the City Clerk.)