Sale of Surplus Spadina Project Property
28 Gloucester Grove - (Ward 28 - York-Eglinton)
The Corporate Services Committee recommends:
(1)the adoption of the following report (February 1, 1999) from the Commissioner of
Corporate Services, subject to the purchase price of $193,000.00 being reduced by four
(4) per cent, being the equivalent of what would have been charged for the real estate
commission fee; and
(2)that with respect to any properties to be purchased by those appearing on Schedule
"A", embodied in Clause No.4 of Report No. 9 of The Corporate Services Committee,
entitled "Surplus Property Within the 'Spadina Corridor' and 'Scarborough
Transportation Corridor', which was approved by City Council on July 8, 9 and 10,
1998, as amended, a similar criteria of deducting the equivalent of a 4 per cent real
estate commission also apply:
Purpose:
To authorize the disposal of the property municipally known as 28 Gloucester Grove.
Funding Sources, Financial Implications and Impact Statement:
Revenue of $193,000.00, less closing costs and the usual adjustments, subject to the revenue
sharing agreement with the Province pursuant to Clause No. 1 of Report No. 25 of the former
Metropolitan Corporate Administration Committee, approved on December 4, 1996.
Recommendations:
It is recommended, subject to Provincial concurrence, that:
(1)the Commissioner of Corporate Services be authorized to accept this offer in the amount
of $193,000.00 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 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. CP300J56175;
(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
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 Province of Ontario is the owner of 28 Gloucester Grove, 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 no requirements have been identified.
By adoption of Clause No. 4 of Report No. 9 of The Corporate Services Committee on July 8,
9, and10, 1998, Toronto Council authorized that properties listed in Schedule "A" including
the subject property, be sold to Schedule "A" purchasers at market value determined as of the
date of expression of their interest and should be further subject to any option to purchase at
that purchase price (unadjusted).
Comments and/or Discussion and/or Justification:
Pursuant to the July 8, 9 and 10, 1998 authority, negotiations were conducted with the tenants,
JackKirchhoff and Sherry Firing, and the following offer was received:
Property Address:28 Gloucester Grove.
Legal Description:Part of Lots 27, 28, 29 and 30, Plan 2339, City of Toronto, together
with and subject to rights of way.
Approximate Lot Size:8.84 metres (29.0 feet) fronting onto Gloucester Grove,
30.48 metres (100 feet) depth.
Easement:None.
Location:North side of Gloucester Grove, south of Eglinton Avenue West, west of
Strathearn Road.
Improvements:Detached, 2 bedroom stucco and stone bungalow.
Occupancy Status:Tenanted.
Date Interest Expressed:May 12, 1997.
Recommended Sale Price:$193,000.00.
Deposit:$9,650.00.
Purchaser:Jack Kirchhoff and Sherry Firing.
Closing Date:March 31, 1999.
Terms:Cash on closing, subject to the usual adjustments.
It is noted this is a sale to the existing tenant and is based on a market value appraisal as of the
date the tenant expressed written interest. By the adoption of Clause No. 5 of Report No. 9 of
The Corporate Services Committee, Council at the meeting held on July 29, 30 and 31, 1998
directed that comparable sales data be provided in future reports of property sales. Appendix
"A" identifies three comparable properties located in the vicinity that sold at the time of the
effective date of appraisal.
Conclusion:
Completion of this transaction detailed above is considered fair and reasonable and reflective
of market value as of May 12, 1997.
Contact Name:
Michelle DeVey, Valuator-Negotiator, Real Estate Services, (416)392-8160, Fax No.:
(416)392-4828, E-Mail Address: michelle_devey@metrodesk.metrotor.on.ca.
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Appendix "A"
28 Gloucester Grove - Comparable Sales
The following three addresses represent recent comparable sales of properties that are quite
similar to the residence which forms the subject matter of this report. These three properties
consist of detached, two bedroom bungalows.
Approximate
AddressLot SizeSale PriceDate of Sale
491 Winnett Avenue25' x 132.98'$197,000.00April 21, 1997
53 Westover Hill Road30.15'x100'$228,000.00April 8, 1997
39 Gloucester Grove26.35' x 100'$217,500.00October 17, 1997
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The following persons appeared before the Corporate Services Committee respecting the Sale
of Surplus Spadina Project Properties:
-Mr. Gilbert Zamonsky, and gave an overhead presentation in regard thereto;
-Ms. Judy Eversen;
-Ms. Eleanor Lavender, and submitted a brief in regard thereto;
-Ms. Maria Vertolli;
-Mr. Gabriel Heti, and submitted appraisal figures respecting 132 Everden Road; and
-Councillor Howard Moscoe - North York Spadina.
(A copy of the map attached to the foregoing report was forwarded to all Members of Council
with the February 15, 1999, agenda of the Corporate Services Committee and a copy thereof is
also on file in the office of the City Clerk.)
