STAFF REPORT

January 31, 2000

To: Toronto Community Council

From: Acting Commissioner of Corporate Services

Subject: Sale of a Vacant Parcel of City-owned Property

40R Wells Street

(Ward 23 - Midtown)

Purpose:

To authorize the sale of 40R Wells Street to the adjoining property owners.

Financial Implications and Impact Statement:

Revenue of $81,156.94, subject to the usual adjustments on closing, will be realized from the sale.

Recommendations:

It is recommended that:

(1) the Offers to Purchase submitted by the adjoining property owners of 163, 165, 167, 169, 171 and 175 Howland Street and 466R Brunswick Avenue to purchase the City-owned property known municipally as 40R Wells Street, in the total amount of $81,156.94, be accepted on the terms outlined in the body of this report;

(2) the City Solicitor be authorized to complete the transactions on behalf of the City, including payment of any necessary expenses and amending the closing date to such earlier or later date as he considers reasonable; and

(3) the appropriate City officials be authorized and directed to take the necessary action to give effect thereto.

Background:

As a result of Municipal Tax Sale held in March of 1935, title to a parcel of vacant land known municipally as 40R Wells Street vested with the former City of Toronto. The parcel, located between Howland and Brunswick Avenues, north of Wells Street, is accessible from Wells Street by way of a pedestrian right-of-way in the City's favour. Over the years, the parcel has been the subject of numerous neighbour complaints concerning its habitation by vagrants and the dumping of garbage. Attempts to lease 40R Wells Street to adjoining property owners for garden plot purposes failed, however, these owners were desirous in acquiring a portion of the City's land to extend their respective backyards.

On July 8, 9 and 10, 1998, City Council adopted Clause 19 of Corporate Services Committee Report No. 9, thereby declaring 40R Wells Street surplus to the City's requirements. Negotiations with the adjoining property owners were entered into and this report sets out the details of the proposed sales.

Comments:

The adjoining property owners on Howland Avenue, Wells Street and Brunswick Avenue were contacted to determine if they were interested in acquiring portions of the City-owned parcel. The owners of 163, 165, 167, 169, 171 and 175 Howland Avenue and 466R Brunswick Avenue responded and submitted an Offer to Purchase their respective portion. The attached sketch sets out as PARTS 1, 3, 5, 7, 9, 11, 12, 13 and 14, the proposed apportionment of 40R Wells Street.

Details of the offers received are as follows:

Total Purchase Price: $81,156.94 based on $10.00 per square foot

Deposits: $1,000.00 from each Purchaser.

Purchasers' Solicitor: David Friend

3459 Sheppard Avenue, Suite 202

Toronto, Ontario M1T 3K5

Acceptance Date: as soon as reasonably possible following Council acceptance.

Due Diligence Period: 60 days following Council acceptance.

Closing Date: 80 days following Council acceptance.

It should be noted that a "sliver" of land, identified as PARTS 2, 4, 6, 8, 10, 15 and 16 on the attached sketch, separates 163, 165, 167, 169 and 171 Howland Avenue from the City's parcel. Accordingly, these owners will register on title documentation, in a form satisfactory to the City Solicitor, to establish ownership of the "sliver" of land lying between their respective properties and that PART of 40R Wells Street they are acquiring, on or before the Closing Date. All transactions are to be completed simultaneously.

Conclusion:

The Offers to Purchase received from the owners of 163, 165, 167, 169, 171 and 175 Howland Street and 466R Brunswick Avenue are considered fair and reasonable and should be accepted.

Contact:

Carla Inglis; 392-7212; Fax No.: 392-1880; cinglis@toronto.ca (tcc0-016.oc)

Brenda Glover

Acting Commissioner of Corporate Services