Item - 2023.PA3.11
Tracking Status
- This item was considered by Toronto Parking Authority on April 21, 2023 and was adopted without amendment.
PA3.11 - Refund of Double-Repayment of Property Taxes - 50 Cumberland Street/37 Yorkville Avenue (Municipal Car Park 15)
- Decision Type:
- ACTION
- Status:
- Adopted
- Ward:
- 11 - University - Rosedale
Board Decision
The Board of Directors of Toronto Parking Authority:
1. Provided authority to the President, Toronto Parking Authority to pay $876,037.96 to PricewaterhouseCoopers Inc., LIT Receiver of 33 Yorkville Residences Inc. and 33 Yorkville Residences Limited Partnership.
2. Provided authority to the President, Toronto Parking Authority to instruct Toronto Parking Authority counsel to undertake any steps required in the receivership proceedings that related to this payment.
Origin
Summary
This report is to obtain authority for Toronto Parking Authority staff to repay $876,037.96 to PricewaterhouseCoopers Inc., LIT Receiver of 33 Yorkville Residences Inc. and 33 Yorkville Residences Limited Partnership, on the basis that it represents a double-repayment for property taxes that were already refunded to the TPA on November 12, 2020 in the amount of $1,465,800.18.
Background Information
https://www.toronto.ca/legdocs/mmis/2023/pa/bgrd/backgroundfile-235668.pdf
Motions
Vote (Adopt Item) Apr-21-2023
| Result: Carried | Majority Required - Adopt the Item |
|---|---|
| Total members that voted Yes: 4 | Members that voted Yes are Maureen Farrow, Zeshan Khan, Jeffrey Steiner, Namby Vithiananthan |
| Total members that voted No: 0 | Members that voted No are |
| Total members that were Absent: 3 | Members that were absent are Brad Bradford, Hartley Lefton (Interest Declared) (Chair), Chris Moise |
Declared Interests
Hartley Lefton - Members of his firm are involved in this receivership.
Written Declaration: https://secure.toronto.ca/council/declared-interest-file.do?id=11458