110 Lombard Street - Possible Purchase
The Corporate Services Committee recommends the adoption of the Recommendations of the Corporate Services
Committee contained in the confidential communication (June 23, 1998) from the City Clerk, respecting the possible
purchase of 110 Lombard Street, which was forwarded to Members of Council under confidential cover.
The Corporate Services Committee reports, for the information of Council, having also had before it a communication
(June 17, 1998) from Ms. Lorna Rosenstein, President Gilda's Club Toronto, and President Lotus Development Canada,
advising that the City is aware of their serious and long-standing desire to acquire the Old Firehall at 110 Lombard Street
as the location for Gilda's Club in Toronto; that on the advice of City officials they engaged a reputable, independent
appraiser to perform a full appraisal of the Old Firehall; that the approximate fair market value of the property is
$600,000.00 and they are in the process of submitting a "clean" cash offer for this amount; that Gilda's Club is a benefit to
the Toronto community and 110 Lombard Street is the ideal location; and that they are prepared to pay fair market value
for the site.
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Mr. Gordon McClellan appeared before the Corporate Services Committee,on behalf of Gilda's Club, in connection with
the foregoing matter.
