Sale of Surplus Property at
103 Everden Road
(Ward 28 - York Eglinton)
The Corporate Services Committee recommends the adoption of the following report (June29, 1998) from the
Commissioner of Corporate Services:
Purpose:
To authorize the disposal of the property municipally known as 103 Everden Road.
Funding Sources, Financial Implications and Impact Statement:
Revenue of $300,300.00, less closing costs and the usual adjustments, subject to the revenue sharing agreement with
the Province pursuant to the former Metropolitan Corporate Administration Committee Report No. 25, Clause No. 1,
approved on December 4, 1996.
Recommendations:
It is recommended, subject to Provincial concurrence that:
(1)the Commissioner of Corporate Services be authorized to accept the highest offer in the amount of $300,300.00 as
detailed herein;
(2)Council, pursuant to Clause No. 14, of Report No. 27 of the former Metropolitan Management Committee adopted
on September 28, 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. CP300J56131;
(4)the City Solicitor be authorized and directed to take the appropriate action, in conjunction with Province of Ontario
Officials and/or agents, to complete the transaction on behalf of the Corporation 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 Province of Ontario is the owner of 103 Everden Road, subject to a ninety-nine year lease in favour of the City of
Toronto. By its adoption of Clause No. 1 of Report No. 3 of The Corporate Administration Committee on February 12
and 13, 1997, Metropolitan Council declared the property surplus pursuant to By-law No. 56-95 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 an easement requirement in favour of the City of Toronto for subway/sewer purposes has been
identified and will be reserved.
Comments and/or Discussion and/or Justification:
Pursuant to the February 12 and 13, 1997 authority, the property was listed with Paul Slavens Real Estate Inc. on May
29, 1998 at an asking price of $284,900.00. As a result, the following offers were received:
PurchaserDepositPurchase Price/Terms
Rudy Ziegler and Ruth Melady$16,000.00 (certified cheque)$300,300.00
(non conditional)
Katherine E. Troster$16,000.00 (bank draft)$295,100.00
(non conditional)
The highest offer is recommended for acceptance:
Property Address:103 Everden Road
Legal Description:Plan 2339, Lot 122
Approximate Lot Size:7.62 metres (25 feet) fronting onto Everden Road, 40.23 metres (132feet) depth
Location:East side of Everden Road, south of Eglinton Avenue West
Improvements:Detached, two-storey, brick dwelling
Occupancy Status:Vacant
Recommended Sale Price:$300,300.00
Deposit:$16,000.00 (certified cheque)
Purchaser:Rudy Ziegler and Ruth Melady
Closing Date:September 10, 1998
Terms:Cash on closing, subject to the usual adjustments.
Listing Broker:Paul Slavens Real Estate Inc.
Selling Broker:Coldwell Banker Pinnacle Real Estate
Commission:Four (4) percent, plus G.S.T., payable on closing of the transaction.
Conclusion:
Completion of this transaction detailed above is considered fair and reasonable and reflective of market value.
Contact Name:
Mr. R. Mayr, AACI, Director, Real Estate Services, (416)396-4930, Fax No.: (416)396-4241, E-Mail Address:
mayr@city.scarborough.on.ca (cs98111.wpd)
(A copy of the map attached to the foregoing report was forwarded to all Members of Council with the July 20, 1998,
agenda of the Corporate Services Committee, and a copy thereof is also on file in the office of the City Clerk.)
