Item - 2018.GM24.7

The Government Management Committee recommends that:

1.  City Council authorize the purchase of the property known as 126 Elmcrest Road, Etobicoke from Her Majesty The Queen in Right of Ontario as represented by the Minister of Infrastructure at a purchase price of $1,100,000, plus applicable taxes, registration fees, environmental assessments, appraisals and costs payable to the vendor substantially on the terms outlined in Appendix A to the report (December 20, 2017) from the Director, Real Estate Services, and on such other terms and conditions as may be acceptable to the Director of Real Estate Services and in a form satisfactory to the City Solicitor.

2.  City Council authorize the Director, Real Estate Services to execute the Agreement of Purchase and associated agreements and documents on behalf of the City.

3.  City Council authorize the City Solicitor to complete the transaction contemplated in the Agreement of Purchase and Sale and associated agreements and documents on behalf of the City, including paying any necessary expenses, amending the closing, due diligence and other dates, and amending and waiving terms and conditions, on such terms as she considers reasonable.

4.  City Council direct the Director, Real Estate Services to develop a strategy pertaining to the acquisition of properties from public agencies wherein an environmental indemnity is required and report to the Government Management Committee no later than April 2018.

5.  City Council direct that the information in Confidential Attachment 1 to the report (December 20, 2017) from the Director, Real Estate Services be made public after the transaction in Recommendation 1 is complete, at the discretion of the City Solicitor.

The purpose of this report is to obtain authority to acquire the 1.25 acre parcel of land municipally known as 126 Elmcrest Road, Etobicoke (the "Property"), located adjacent to Centennial Park, from Her Majesty The Queen in Right of Ontario as represented by the Minister of Infrastructure as represented by Infrastructure Ontario ("IO") for parkland purposes. The subject lands are shown on Appendix B attached hereto.

This report also addresses the environmental indemnity that Infrastructure Ontario (in this and future transactions) and other public agencies now require from purchasers when disposing of properties, which indemnity requires the purchaser to indemnify the subject provincial agency from any costs, claims, liabilities or damages they may arise as a result of the condition of the Property prior to or following the date of closing.