Sale of Surplus Vacant Lands at Dundas Street

West and Viking Road (Ward 4 - Markland Centennial)

The Corporate Services Committee recommends the adoption of the following report (April7,1999) from the Commissioner of Corporate Services:

Purpose:

To authorize the disposal of the vacant parcel on the south side of Dundas Street West and north side of Viking Road, west of Kipling Avenue.

Financial Implications:

Revenue of $400,000.00, less closing costs and the usual adjustments.

Recommendations:

It is recommended that:

(1)Council waive the City of Toronto's obligations pursuant to Section 42 of the Expropriations Act, to offer the owners from whom the land was expropriated the first chance to repurchase the lands on the terms of the best offer received by the City;

(2)the appropriate City officials be authorized to accept this offer in the amount of $400,000.00 as detailed herein;

(3)authority be granted to direct a portion of the sale proceeds on closing to fund the outstanding balance of Costing Unit No. CP300J56263;

(4)the City Solicitor be authorized and directed to take the appropriate action 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:

By its adoption of Clause No. 13 of Report No. 13 of The Corporate Services Committee on October1 and 2, 1998, City Council declared the property surplus pursuant to By-law No.551-1998 and authorized its disposal subject to easement protection for utilities, by offering the property for sale at market value to the adjacent owner. The procedures with respect to By-law No.551-98 have been complied with, a utility canvass has been completed and no requirements have been identified.

As these lands were purchased together with other lands, by expropriation, in order to proceed with the disposal of this property, it is necessary for Council, as an Approving Authority defined in the Act, to waive the City's statutory obligation as set out in S.42 of that legislation.

Comments and/or Discussion and/or Justification:

Pursuant to the October 1 and 2, 1998 authority, the lands were offered to the adjacent owner and the following offer was received:

Subject Property:Part of Lots 13, 14, 15, 16, 18 and Block A, Registered Plan 3408, City of Toronto (formerly City of Etobicoke), shown as Part 2 on Plan 64R-11556.

Location:South side of Dundas Street West and north side of Viking Road, West of Kipling Avenue.

Dimensions:Irregular.

Lot Area:1,673 square metres (18,008 square feet).

Property Type:Vacant Land.

Zoning:IC1 (Industrial).

Recommended Sale Price:$400,000.00 (conditional for 180 days following acceptance by the City with provision for (3) three 30-day extensions to be granted at the discretion of the Commissioner of Corporate Services, if required, on purchaser obtaining site plan approval for its proposed residential/commercial development and thereafter for 90 days on Due Diligence including an environmental assessment).

Deposit:$40,000.00.

Purchaser:Calcorp Inc.

Closing Date:90 days following the expiry of the Due Diligence period.

Terms:Certified cheque 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 April19, 1999, agenda of the Corporate Services Committee, and a copy thereof is also on file in the office of the City Clerk.)