Item - 2018.GM25.8

The Government Management Committee recommends that:

1.  City Council direct the Director, Real Estate Services to submit an Offer to Purchase (the “Agreement”)  for nominal consideration, to Her Majesty the Queen in Right of Canada as represented by the Minister of Public Works (the "Federal Government"), or the registered owner of the lands, as the case may be, for the purchase of fee simple interests, of some or all of the properties known as Portland Slip, Spadina Slip and Spadina Quay Marina, shown in Appendix B (the "Properties") to the report (February 6, 2018) from the Director Real Estate Services, substantially on the terms and conditions outlined in Appendix A to the report (February 6, 2018) from the Director Real Estate Services and on such other or amended terms and conditions as may be acceptable to the Deputy City Manager, Internal Corporate Services and in a form satisfactory to the City Solicitor.

2.  City Council direct that the Transfer of the Properties occur on a date or dates (if all of the Properties are not transferred at one time) determined by the Director, Real Estate Services in consultation with the City Solicitor, to ensure that the City is satisfied with title to the lands at the time of the transfers.

3.  City Council direct the City Solicitor to complete the transaction(s) 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 waive the application of the City's "Policy on Donations to the City for Community Benefits", given that the transaction is not a typical donation of land transaction and the would-be donor is the Federal Government.

This report seeks Council approval for the acquisition of three water lots along Queens Quay West for nominal consideration.