Item - 2019.GL6.17

The General Government and Licensing Committee recommends that:

1.  City Council authorize the City of Toronto (the City) to enter into a Land Exchange Agreement with the Toronto District School Board (the TDSB) for the property known as 200 Poplar Road, legally described in Appendix 1 (the TDSB Land), in exchange for approximately 54,000 square feet of stratified fee simple interest in part of 770 Don Mills Road, being Parts 2 and 5 on Plan RS-882, also shown as Part 2 on Sketch Number PS-2005-026 in Appendix 2 (the City Land) to the report (June 10, 2019) from the Acting Director, Real Estate Services, substantially on the terms and conditions to be agreed between the parties, as may be approved by the Director, Real Estate Services, and in a form satisfactory to the City Solicitor.

2.  City Council approve that the transaction meets the requirement for an exchange of land as outlined in Chapter 4.3 (Parks and Open Space Areas), Policy 8 of the City of Toronto's Official Plan.

3.  City Council authorize the Director, Real Estate Services, to accept the terms of the Land Exchange Agreement on behalf of the City of Toronto.

4.  City Council authorize the City Solicitor to complete the transaction on behalf of the City of Toronto, including paying any necessary expenses, amending the closing and other dates to such earlier or later date(s), and on such terms and conditions as they may, from time to time, consider reasonable.

5.  City Council authorize and direct the appropriate City Officials to take the necessary action to give effect thereto.

This report seeks Council authority to enter into a land exchange with the Toronto District School Board (the TDSB) for the exchange of fee simple interest of the property located at 200 Poplar Road, known as Sir Robert L. Borden Business and Technical Institute, in exchange for stratified ownership at the future City of Toronto (the City) mixed-use development site located at 770 Don Mills Road as part of Mayor John Tory's Housing Now Initiative.

This proposed transaction will alleviate the TDSB's current student capacity issue in this area by allowing it to construct and take stratified title to a new elementary school in the City's redevelopment site at 770 Don Mills Road, along with creating new open space as the outdoor play area for the students attending the new school. In exchange, the City will obtain the fee simple interest in the TDSB-owned 11.93-acre site, formerly Sir Robert L. Borden Business and Technical Institute, known municipally as 200 Poplar Road, Scarborough, Ontario, M1E 1Z7, which will be used to create a community hub servicing the needs of the local community along with allowing the City to explore city-building opportunities with other City-owned properties nearby.

The terms for completing the transaction are considered to be fair, reasonable, and reflective of market value.