Item - 2022.MM43.14

City Council on May 11 and 12, 2022, adopted the following:

1. City Council approve the acceptance of on-site parkland dedication as previously authorized in Item 2016.CC17.1 adopted by City Council on March 31 and April 1, 2016 for the lands municipally known as 840-860 Dupont Street, subject to the owner transferring the parkland to the City free and clear, above and below grade, of all easements, encumbrances, and encroachments, in an acceptable environmental condition; the owner may propose the exception of encumbrances of tiebacks and such other encumbrances, if any, where such encumbrances are deemed acceptable by the General Manager, Parks, Forestry and Recreation, in consultation with the City Solicitor; and such encumbrances will be subject to the payment of compensation to the City, in an amount as determined by the General Manager, Parks, Forestry and Recreation and the Executive Director, Corporate Real Estate Management.

2. City Council approve a development charge credit against the Parks and Recreation component of the Development Charges for the design and construction by the owner of the Above Base Park Improvements to the new park to be dedicated on the southwest corner of the site at 840-860 Dupont Street, all to the satisfaction of the General Manager, Parks, Forestry and Recreation; the development charge credit shall be in an amount that is the lesser of the cost to the owner of designing and constructing the Above Base Park Improvements, as approved by the General Manager, Parks, Forestry and Recreation, and the Parks and Recreation component of the Development Charges payable for the development in accordance with the City's Development Charges By-law, may be amended from time to time.