Item - 2024.MM23.24

City Council on November 13 and 14, 2024, adopted the following:

1. City Council exempt the parcel of lands shown as Parts 3, 4 and 5 on Reference Plan 66R-32887 required to be conveyed to the City for the construction of a new East-West Road from the application of the Policy for Accepting Potentially Contaminated Lands to be Conveyed to the City under the Planning Act, such that:

a. the City will accept the conveyance of the lands in advance of the environmental remediation of those land; and

b. with respect to section 5.1.2. of the Policy to allow the acceptance of a letter of credit to secure the remediation of the lands.
 

2. City Council direct that the exemption in Recommendation 1 is subject to satisfaction of the following conditions prior to the conveyance of those lands to the satisfaction of the Executive Director, Development Review:

a. the City and the owner of 215 Lake Shore Boulevard East shall enter into an agreement to secure the obligation of the owner of 215 Lake Shore Boulevard East to remediate the lands in accordance with a peer-reviewed work plan, applicable City standards, and all other requirements of the Policy;

b. the owner of 215 Lake Shore Boulevard East shall provide a financial security to secure the environmental remediation of the lands, in accordance with a peer-reviewed cost-estimate.
 

3. City Council authorize staff to incorporate the above process and requirements into the subdivision agreement for 215 Lake Shore Boulevard East.