Item - 2012.GM10.18
Tracking Status
- This item was considered by Government Management Committee on January 30, 2012 and was adopted without amendment.
GM10.18 - Request for Report - Feasibility of Selling or Leasing of Metro Hall (55 John Street)
- Decision Type:
- ACTION
- Status:
- Adopted
- Ward:
- 20 - Trinity-Spadina
Committee Decision
The Government Management Committee:
1. Requested the Director of Real Estate Services to report to the Government Management Committee, as soon as possible, on the feasibility and re-evaluation of the potential sale or leasing of Metro Hall (55 John Street).
Origin
Summary
Councillor Paul Ainslie forwarding a letter commenting on the Feasibility of Selling or Leasing of Metro Hall (55 John Street).
Standing 27-storey's tall and located at 55 John Street in the heart of the City of Toronto Metro Hall is an impressive building. The building houses several City of Toronto administrative offices, The Access and Equity Centre, a child care centre and other resources.
Located in the heart of the entertainment district where real estate values are escalating give the City an opportunity to re-evaluate the potential sale of the property for revenue purposes. The sale and collection of property taxes on the site could bring a healthy injection of funds to the City of Toronto.
When re-evaluating the building staff will be required to take into account the city administrative offices, the Access and Equity Centre as well as the city owned and operated child care centre.
Background Information
https://www.toronto.ca/legdocs/mmis/2012/gm/bgrd/backgroundfile-44590.pdf
Motions
That the item be deferred until completion of the Accommodation Plan and the exploration of possible cost savings associated with consolidation of City staff.