Item - 2018.EX34.14

Tracking Status

  • City Council adopted this item on May 22, 2018 with amendments.
  • This item was considered by the Executive Committee on May 14, 2018 and adopted without amendment. It will be considered by City Council on May 22, 2018.

EX34.14 - Replenishment of Funding for School Lands Property Acquisition

Decision Type:
ACTION
Status:
Amended
Wards:
All

City Council Decision

City Council on May 22, 23 and 24, 2018, adopted the following:

 

1.  City Council approve a new School Land Properties Acquisition Capital Project with a total project cost of $15 million to be created within the 2018-2027 Council Approved Capital Budget and Plan for Facilities, Real Estate, Environment and Energy with cash flow approvals of $5 million in each of 2018, 2019 and 2020, to be fully funded from the Land Acquisition Reserve Fund (XR1012).

That:

 

2.  City Council request the Executive Director, Social Development Finance and Administration to continue discussions with the Toronto Lands Corporation and the Toronto Catholic District School Board to identify potential sites that are at risk of closure or are already surplus as potential sites for acquisition using the Community Asset Evaluation Framework, in consultation with any affected Councillors.

 

3.  City Council request the Chief Financial Officer to report through the 2019 Budget process on any changes to the annual allocations to reflect any anticipated surplus properties.

Background Information (Committee)

(April 30, 2018) Report from the Interim Chief Financial Officer on Replenishment of Funding for School Lands Property Acquisition
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-114812.pdf

Motions (City Council)

1 - Motion to Amend Item (Additional) moved by Councillor Janet Davis (Carried)

That:

 

1.  City Council request the Executive Director, Social Development Finance and Administration to continue discussions with the Toronto Lands Corporation and the Toronto Catholic District School Board to identify potential sites that are at risk of closure or are already surplus as potential sites for acquisition using the Community Asset Evaluation Framework, in consultation with any affected Councillors.

 

2.  City Council request the Chief Financial Officer to report through the 2019 Budget process on any changes to the annual allocations to reflect any anticipated surplus properties.


Motion to Adopt Item as Amended (Carried)

Vote (Adopt Item as Amended) May-23-2018 12:22 PM

Result: Carried Majority Required - EX34.14 - Adopt the item as amsnded
Total members that voted Yes: 35 Members that voted Yes are Paul Ainslie, Maria Augimeri, Ana Bail„o, John Campbell, Christin Carmichael Greb, Josh Colle, Gary Crawford, Joe Cressy, Vincent Crisanti, Janet Davis, Glenn De Baeremaeker, Justin J. Di Ciano, Frank Di Giorgio, Sarah Doucette, John Filion, Paula Fletcher, Michael Ford, Mary Fragedakis, Mark Grimes, Jim Hart, Stephen Holyday, Mike Layton, Giorgio Mammoliti, Josh Matlow, Mary-Margaret McMahon, Frances Nunziata (Chair), Cesar Palacio, James Pasternak, Gord Perks, Jaye Robinson, Neethan Shan, David Shiner, Michael Thompson, Lucy Troisi, Kristyn Wong-Tam
Total members that voted No: 0 Members that voted No are
Total members that were Absent: 9 Members that were absent are Jon Burnside, Michelle Holland, Jim Karygiannis, Norman Kelly, Joe Mihevc, Denzil Minnan-Wong, Anthony Perruzza, John Tory, Jonathan Tsao

EX34.14 - Replenishment of Funding for School Lands Property Acquisition

Decision Type:
ACTION
Status:
Adopted
Wards:
All

Committee Recommendations

The Executive Committere recommends that:

 

1.  City Council approve a new School Land Properties Acquisition Capital Project with a total project cost of $15 million to be created within the 2018-2027 Council Approved Capital Budget and Plan for Facilities, Real Estate, Environment and Energy with cash flow approvals of $5 million in each of 2018, 2019 and 2020, to be fully funded from the Land Acquisition Reserve Fund (XR1012).

Origin

(April 30, 2018) Report from the Interim Chief Financial Officer

Summary

The purpose of this report is to seek City Council approval to establish a capital project with funding from the Land Acquisition Reserve Fund to serve as a primary funding source for the acquisition of future surplus school properties.  The creation of a project now, with incremental expenditures of $5 million per year from 2018 to 2020, will ensure that a portion of the Land Acquisition Reserve Fund is set aside and built up to a level that would prepare the City for the end of the provincial moratorium on declaration of surplus schools. The pending implementation of the new real estate decision model and plan will ensure that future decisions on how to expend the funds are made in accordance with City priorities.

Background Information

(April 30, 2018) Report from the Interim Chief Financial Officer on Replenishment of Funding for School Lands Property Acquisition
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-114812.pdf

Motions

1 - Motion to Adopt Item moved by Councillor Paul Ainslie (Carried)
Source: Toronto City Clerk at www.toronto.ca/council