Item - 2023.MM11.18

Tracking Status

  • City Council adopted this item on October 11, 2023 without amendments.

MM11.18 - Authorization to Release Section 37 and Section 42 Above 5 percent Cash-in-lieu Funds for Lighting Improvements to the Village of Yorkville Park - by Councillor Dianne Saxe, seconded by Councillor Paul Ainslie

Decision Type:
ACTION
Status:
Adopted
Ward:
11 - University - Rosedale

City Council Decision

City Council on October 11 and 12, 2023, adopted the following:

 

1. City Council amend Parks, Forestry and Recreation's 2023 Capital Budget and 2024-2032 Capital Plan to create a new capital sub-project known as the Village of Yorkville Park Lighting Improvements in the Park Development project, with a project cost $560,000 gross and $0 debt, and cash flow commitments of $460,000 in 2024 and $100,000 in 2025, fully funded by $555,501 in Section 37 and $4,499 in Section 42 Above 5 percent Cash-in-lieu funds obtained from the developments in the chart below for lighting improvements to the Village of Yorkville Park.

 

Development Location

Funding Source

Account

2024

2025

Total

836-850 Yonge Street and 1-9A Yorkville Avenue

Section 42 Above 5 percent Cash-in-lieu

XR2213-4200726

$4,499.00

 

$4,499.00

94 Cumberland Street

Section 37

XR3026-3700534

$219,106.41

 

$219,106.41

94 Cumberland Street

Section 37

XR3026-3700708

$196,093.59

 

$196,093.59

1-11 Bloor Street West, 768-784 Yonge Street, and 760-762 Yonge Street

Section 37

XR3026-3701061

$40,301.00

$100,000.00

$140,301.00

 

Total

$460,000.00

$100,000.00

$560,000.00

Background Information (City Council)

Motions (City Council)

Motion to Waive Referral (Carried)

Speaker Nunziata advised Council that the provisions of Chapter 27, Council Procedures, require that Motion MM11.18 be referred to the Executive Committee. A two-thirds vote of the Council Members present is required to waive referral.


Motion to Adopt Item (Carried)
Source: Toronto City Clerk at www.toronto.ca/council