Item - 2022.MM43.38
Tracking Status
- City Council adopted this item on May 11 and 12, 2022 without amendments.
MM43.38 - Authorization to Release Section 42 Above 5 Percent Cash-in-lieu Funds to the Downtown Yonge Business Improvement Area for the Rehabilitation of the Trinity Square Park Clock Tower - by Councillor Mike Layton, seconded by Councillor Paula Fletcher
- Decision Type:
- ACTION
- Status:
- Adopted
- Ward:
- 13 - Toronto Centre
City Council Decision
City Council on May 11 and 12, 2022, adopted the following:
1. City Council amend the Council Approved Parks, Forestry and Recreation's 2022-2031 Capital Budget and Plan to create a new capital sub-project known as Trinity Square Park Clock Tower in the Park Development project, with a project cost and cash flow of $321,855 in 2022, fully funded by various Section 42 Above 5 percent Cash-in-lieu included in the chart below, for the purpose of transferring funds to the Downtown Yonge Business Improvement Area to complete the restoration of the Clock Tower in Trinity Square Park:
|
Development Location |
Internal Order Account (XR2213 |
Amount ($) |
|
252 Victoria Street |
4200290 |
$524.24 |
|
155 Dundas Street East |
4200399 |
$368.65 |
|
197 Yonge Street |
4200612 |
$3,370.99 |
|
68 Shuter Street |
4200657 |
$649.53 |
|
25 Richmond Street East |
4201065 |
$3,117.85 |
|
77 Mutual Street |
4201094 |
$2,638.03 |
|
215 Church Street |
4201208 |
$6,337.38 |
|
59 Mutual Street |
4201590 |
$304,848.33 |
|
Total |
$321,855.00 |
|
2. City Council authorize the transfer of up to $321,855 to the Downtown Yonge Business Improvement Area, from the Council Approved Parks, Forestry and Recreation 2022-2031 Capital Budget and Plan under the Trinity Square Park Clock Tower sub-project, in the Park Development project, to complete the restoration of the Clock Tower in Trinity Square Park, on terms and conditions satisfactory to the General Manager, Parks, Forestry and Recreation.
3. City Council authorize the General Manager, Parks, Forestry and Recreation to amend the Construction and Licence Agreement between the City and the Downtown Yonge Business Improvement Area authorized by City Council at its meeting of October 2 and 3, 2019, to allow for the transfer of up to $321,855 from the City to the Downtown Yonge Business Improvement Area, to be used for the purpose of restoring the Clock Tower in Trinity Square Park, on terms and conditions acceptable to the General Manager and in a form satisfactory to the City Solicitor.
Background Information (City Council)
Motions (City Council)
That Councillor Layton be permitted to add to the agenda of today's meeting an urgent Motion without Notice concerning:
Authorization to Release Section 42 Above 5 Percent Cash-in-lieu Funds to the Downtown Yonge Business Improvement Area for the Rehabilitation of the Trinity Square Park Clock Tower
This Motion is urgent as the Business Improvement Area has lined up contractors who are prepared to undertake the work immediately during this construction season following the pandemic-related delays.