Item - 2023.MM5.24
Tracking Status
- City Council adopted this item on March 29, 2023 without amendments.
MM5.24 - Authorization to Release Section 37 Funds from the Development at 200 Queens Quay West to the Bentway Conservancy for the Waterfront Reconnect Project to be constructed under the Gardiner Expressway at Lower Simcoe Street - by Councillor Ausma Malik, seconded by Councillor Paula Fletcher
- Decision Type:
- ACTION
- Status:
- Adopted
- Ward:
- 10 - Spadina - Fort York
City Council Decision
City Council on March 29, 30 and 31, 2023, adopted the following:
1. City Council increase the 2023 City Council Approved Operating Budget for Non-Program by $92,179.93 gross, $0 net, (Cost Centre: NP2161) on a one-time basis, fully funded by Section 37 community benefits obtained from the development of the lands municipally known in the year 2021 as 200, 208 and 218 Queens Quay West, and 8 York Street and 228 and 230 Queens Quay West (Source Account: 220096), for the purpose provided for in the enabling by-law of forwarding funds to the Bentway Conservancy for improvements under the Gardiner Expressway at Lower Simcoe Street as part of the Bentway Waterfront Reconnect project.
2. City Council approve forwarding the Section 37 funding in the amount of $92,179.93 to the Bentway Conservancy, subject to the organization signing an Undertaking governing the use of the funds and the financial reporting requirements.
Background Information (City Council)
https://www.toronto.ca/legdocs/mmis/2023/mm/bgrd/backgroundfile-235287.pdf
Fiscal Impact Statement from the Chief Financial Officer and Treasurer
https://www.toronto.ca/legdocs/mmis/2023/mm/bgrd/backgroundfile-235530.pdf
Motions (City Council)
Speaker Nunziata advised Council that the provisions of Chapter 27, Council Procedures, require that Motion MM5.24 be referred to the Executive Committee. A two-thirds vote of the Council Members present is required to waive referral.