Item - 2022.MM45.44

City Council on June 15 and 16, 2022, adopted the following:

1. City Council amend its previous decision on Item TE16.9, adopted by City Council on July 28 and 29, 2020  by:

a. amending the lead paragraph of Part 4 by adding the word "stratified", before the words "parkland dedication", replacing the words "a minimum of" with the word "approximately", and deleting the words "and below", so that Part 4 will now read as follows:

4. City Council accept, should the Local Planning Appeal Tribunal approve the proposed Zoning By-law Amendments, an on-site stratified parkland dedication that is approximately 230 square metres in area pursuant to Section 42 of the Planning Act and Chapter 415, Article III, of the Toronto Municipal Code (the “Statutory Parkland”), in the general location identified on Attachment 5 to the report (June 18, 2020) from the Director, Community Planning, Toronto and East York District, to be dedicated to the City, at no cost to the City, free and clear, above and below grade, of all easements, encumbrances and encroachments and in acceptable environmental condition, all to the satisfaction of the General Manager, Parks, Forestry and Recreation, in addition to the following below; and

 b. adding the following new Part 4 c:

c. The owner shall compensate the City for the value differential between a fee simple parkland dedication and a strata conveyance, as determined by the General Manager, Parks, Forestry and Recreation and the Executive Director, Corporate Real Estate Management.  The value of the compensation will be determined on the day before the issuance of the first building permit and payment will be required prior to the issuance of said permit.