Item - 2011.CC14.8

Tracking Status

  • City Council adopted this item on November 29, 2011 with amendments.

CC14.8 - Amendments to Terms of Sale by Toronto Port Lands Company/TEDCO of Corus Quay

Decision Type:
ACTION
Status:
Amended
Ward:
28 - Toronto Centre-Rosedale

City Council Decision

City Council on November 29, 30 and December 1, 2011, adopted the following:

 

1.         City Council adopt the proposed amendments, which are set out in Confidential Attachment to the report (November 22, 2011) from the Deputy City Manager and Chief Financial Officer, to the terms originally established by Council for its consent to Toronto Port Lands Company’s proposal to offer the Project (being the lands and premises municipally known as 25 Dockside Drive) for sale.

 

2.         City Council consent to the extension of the maturity date for the construction loan provided for this project by the City from December 31, 2011 to June 30, 2012.

 

3.         City Council request the City Manager to submit a report to the Public Works and Infrastructure Committee on further funding options for transportation on the East Bay Front waterfront area.

 

4.         City Council direct that Confidential Attachments 1 and 2 to the report (November 22, 2011) from the Deputy City Manager and Chief Financial Officer remain confidential under the provisions of the City of Toronto Act 2006, as they relate to the security of property of municipality or local board, until the closing of the sale transaction.

 

Confidential Attachments 1 and 2 to the report (November 22, 2011) from the Deputy City Manager and Chief Financial Officer remain confidential in their entirety, at this time, in accordance with the provisions of the City of Toronto Act, 2006, as the information relates to the security of property of municipality or local board. The Confidential Attachments will be made public following the closing of the sale transaction.

City Council Decision Advice and Other Information

City Council recessed its public session and met as Committee of the Whole in closed session on November 29, 2011, and considered confidential information on this Item as it relates to the security of the property belonging to the City or one of its agencies, boards and commissions. 

Confidential Attachment - The security of the property belonging to the City or one of its agencies, boards and commissions.

Background Information (City Council)

(November 22, 2011) Report from the Deputy City Manager and Chief Financial Officer on amendments to terms of sale by Toronto Port Lands Company/TEDCO of Corus Quay (CC14.8)
https://www.toronto.ca/legdocs/mmis/2011/cc/bgrd/backgroundfile-42520.pdf
Confidential Attachments 1 and 2 - made public on November 26, 2012
https://www.toronto.ca/legdocs/mmis/2011/cc/bgrd/backgroundfile-42521.pdf

Motions (City Council)

Report of Committee of the Whole

November 29, 2011 - 7:41 p.m. - Speaker Nunziata advised that City Council had completed its closed session consideration of Item CC14.8 on amendments to terms of sale by Toronto Port Lands Company/TEDCO of Corus Quay.  Council would now have the public debate on this item.


1 - Motion to Amend Item (Additional) moved by Councillor Pam McConnell (Carried)

That City Council request the City Manager to submit a report to the Public Works and Infrastructure Committee on further funding options for transportation on the East Bay Front waterfront area.

Vote (Amend Item (Additional)) Nov-29-2011 7:43 PM

Result: Carried Majority Required - CC14.8 - McConnell - motion 1
Total members that voted Yes: 30 Members that voted Yes are Ana Bail„o, Michelle Berardinetti, Shelley Carroll, Raymond Cho, Josh Colle, Vincent Crisanti, Janet Davis, Glenn De Baeremaeker, Mike Del Grande, Frank Di Giorgio, Sarah Doucette, Paula Fletcher, Mary Fragedakis, Mark Grimes, Norman Kelly, Mike Layton, Gloria Lindsay Luby, Pam McConnell, Mary-Margaret McMahon, Joe Mihevc, Peter Milczyn, Denzil Minnan-Wong, Frances Nunziata (Chair), Cesar Palacio, James Pasternak, Gord Perks, Anthony Perruzza, David Shiner, Karen Stintz, Adam Vaughan
Total members that voted No: 5 Members that voted No are Paul Ainslie, Doug Ford, Doug Holyday, Josh Matlow, John Parker
Total members that were Absent: 10 Members that were absent are Maria Augimeri, Gary Crawford, John Filion, Rob Ford, Chin Lee, Giorgio Mammoliti, Ron Moeser, Jaye Robinson, Michael Thompson, Kristyn Wong-Tam

Motion to Adopt Item as Amended (Carried)

Vote (Adopt Item as Amended) Nov-29-2011 7:45 PM

Result: Carried Majority Required - CC14.8 - Adopt the item as amended
Total members that voted Yes: 36 Members that voted Yes are Paul Ainslie, Ana Bail„o, Michelle Berardinetti, Shelley Carroll, Raymond Cho, Josh Colle, Vincent Crisanti, Janet Davis, Glenn De Baeremaeker, Mike Del Grande, Frank Di Giorgio, Sarah Doucette, Paula Fletcher, Doug Ford, Mary Fragedakis, Mark Grimes, Doug Holyday, Norman Kelly, Mike Layton, Chin Lee, Gloria Lindsay Luby, Josh Matlow, Pam McConnell, Mary-Margaret McMahon, Joe Mihevc, Peter Milczyn, Denzil Minnan-Wong, Frances Nunziata (Chair), Cesar Palacio, John Parker, James Pasternak, Gord Perks, Anthony Perruzza, David Shiner, Karen Stintz, Adam Vaughan
Total members that voted No: 0 Members that voted No are
Total members that were Absent: 9 Members that were absent are Maria Augimeri, Gary Crawford, John Filion, Rob Ford, Giorgio Mammoliti, Ron Moeser, Jaye Robinson, Michael Thompson, Kristyn Wong-Tam
Source: Toronto City Clerk at www.toronto.ca/council