Item - 2019.MM9.50

City Council on July 16, 17 and 18, 2019, adopted the following:

1.  City Council declare the Eastdale Parkette, shown as Part 1 on Sketch PS-2019-014 as surplus, with intended manner of disposal by land exchange with 2 Secord Inc. and 90 Eastdale Inc.
 

2.  City Council direct the Deputy City Manager, Corporate Services to enter into a Land Exchange Agreement with 2 Secord Inc. and 90 Eastdale Inc. for the disposal of the Eastdale Parkette, shown as Part 1 on Sketch PS-2019-014 in Appendix B to Motion MM9.50, in exchange for the replacement park lands identified as Part 2 on Sketch PS-2019-014, substantially on the terms and conditions outlined in Appendix A to Motion MM9.50, and such other terms as may be approved by the Director, Real Estate Services in consultation with the General Manager, Parks, Forestry and Recreation, and in a form satisfactory to the City Solicitor.
 

3.  City Council direct the Deputy City Manager, Corporate Services to enter into a Lease Agreement to lease back the replacement park lands, identified as Part 2 on Sketch PS-2019-014, to 2 Secord Inc. and 90 Eastdale Inc. for nominal consideration for 46 months, substantially on the terms and conditions outlined in Appendix A to Motion MM9.50, and on such other terms as may be approved by the Director, Real Estate Services in consultation with the General Manager, Parks, Forestry and Recreation, and in a form satisfactory to the City Solicitor.
 

4.  City Council authorize the City Solicitor to request the Local Planning Appeal Tribunal to amend the Official Plan Amendment before the Tribunal to accommodate the 46 month delay between the disposal of the existing park and the construction of the park on the Replacement Park lands, by way of a site specific exemption from the Official Plan Policy 4.3.8.