Item - 2019.GL9.12

The General Government and Licensing Committee recommends that:

1.  City Council authorize the acceptance of the future parkland located at 55 Lake Shore Boulevard East encumbered by a permanent Easement ("Easement") in favour of Enwave Energy Corporation ("Enwave") to accommodate below-grade district energy infrastructure, in accordance with Chapter 3.2.3 (Parks and Open Spaces), Policy 8.a) of the City of Toronto's Official Plan.

2.  City Council authorize the Executive Director, Corporate Real Estate Management, to enter into an Easement Agreement with respect to the Easement (the "Agreement") referenced in Recommendation 1, substantially on the terms outlined in Appendix A to the report (October 22, 2019) from the General Manager, Parks, Forestry and Recreation, and the Executive Director, Corporate Real Estate Management, and on such other additional or amended terms and conditions and such related documents as may be acceptable to the Executive Director, Corporate Real Estate Management, and in a form satisfactory to the City Solicitor.

3.  City Council authorize the Executive Director, Corporate Real Estate Management, and/or the Director, Real Estate Services, to execute the Easement Agreement referenced in Recommendation 2 on behalf of the City of Toronto.

4.  City Council authorize the future Easement purchase price in the amount of $1,609,881.40 from Enwave Energy Corporation as a result of the Easement Agreement referenced in Recommendation 2 to be deposited to a Parks, Forestry and Recreation deferred revenue account for future capital submissions to develop the park site.

This report seeks authority to accept future parkland located at 55 Lake Shore Boulevard East subject to an Easement in favour of Enwave Energy Corporation and to enter into an Easement Agreement with respect to the same.