Item - 2018.MM36.24

Tracking Status

City Council adopted this item on January 31, 2018 without amendments.

MM36.24 - Allocating Land Acquisition Reserve Funds for Future Surplus School Property Acquisitions - by Councillor Janet Davis, seconded by Councillor Paula Fletcher

Decision Type:: ACTION

Status:: Adopted

Wards:: All

City Council Decision

City Council on January 31 and February 1, 2018, adopted the following:

1. City Council direct the Interim Chief Financial Officer to report back to the Executive Committee in the second quarter of 2018 with options for earmarking up to $15 million in the Land Acquisition Reserve Fund for future surplus school property acquisitions.

Background Information (City Council)

Member Motion MM36.24
https://www.toronto.ca/legdocs/mmis/2018/mm/bgrd/backgroundfile-112378.pdf

Motions (City Council)

Motion to Introduce Motion without Notice moved by Councillor Janet Davis (Carried)

That Councillor Janet Davis be permitted to add to the agenda of today's meeting an urgent Motion without Notice concerning:

Allocating Land Acquisition Reserve Funds for Future Surplus School Property Acquisitions

Reason for Urgency:

This Motion is urgent as in order to act expeditiously on surplus declarations, as per our City Acquisition Framework, the City needs to have funding sources authorized.

Motion to Adopt Item (Carried)