1 York Gate Boulevard and 5150-5160 Yonge Street - Designation of Portions of the Properties Used by the Toronto Public Library as Municipal Capital Facilities

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The decision

2019-10-02 · Toronto City Council · adopted

As filed

City Council on October 2 and 3, 2019, adopted the following: 1. City Council pass a By-law pursuant to Section 252 of the City of Toronto Act, 2006, providing authority to: a. enter into Municipal Capital Facility Agreements with 7506473 Canada Inc., which leases approximately 3,341 square feet at 1 York Gate Boulevard to the Toronto Public Library, and Great-West Life Realty Advisors, which leases approximately 1,556 square feet at 5150-5160 Yonge Street to the Toronto Public Library, with respect to all space (the Leased Premises) related to facilities for public libraries; and b.

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exempt the Leased Premises from taxation for municipal and school purposes, with the tax exemption being effective from the latest of: 1. the commencement date of the lease; 2. the date the Municipal Capital Facility Agreement is entered into; and 3. the date the Tax Exemption By-law is enacted. 2. City Council direct the City Clerk to give written notice of the By-law to the Minister of Finance, the Municipal Property Assessment Corporation, the Toronto District School Board, the Toronto Catholic District School Board, le Conseil scolaire Viamonde, and le Conseil scolaire catholique MonAvenir.

On the agenda

As the city filed it

This report seeks Council's authority for the adoption of the necessary By-law to designate portions of two properties leased and occupied by the Toronto Public Library as Municipal Capital Facilities and to provide exemptions for municipal taxes and education taxes. The Municipal Capital Facility Agreements authorized by the By-law will provide exemptions for approximately 3,341 square feet of space at 1 York Gate Boulevard and approximately 1,556 square feet of space at 5150-5160 Yonge Street.

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The privately-owned space at 1 York Gate Boulevard was selected as temporary space for the library during a two-year renovation period of the York Woods Library. The space being occupied at 5150-5160 Yonge Street is in addition to the already existing North York Central Library.

Staff recommended

The Controller recommends that: 1. City Council pass a By-law pursuant to Section 252 of the City of Toronto Act, 2006, providing authority to: a. enter into Municipal Capital Facility Agreements with 7506473 Canada Inc., which leases approximately 3,341 square feet at 1 York Gate Boulevard to the Toronto Public Library, and Great-West Life Realty Advisors, which leases approximately 1,556 square feet at 5150-5160 Yonge Street to the Toronto Public Library, with respect to all space (the Leased Premises) related to facilities for public libraries; and b.

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exempt the Leased Premises from taxation for municipal and school purposes, with the tax exemption being effective from the latest of: (1) the commencement date of the lease, (2) the date the Municipal Capital Facility Agreement is entered into, and (3) the date the Tax Exemption By-law is enacted. 2. City Council direct the City Clerk to give written notice of the By-law to the Minister of Finance, the Municipal Property Assessment Corporation, the Toronto District School Board, the Toronto Catholic District School Board, le Conseil scolaire Viamonde, and le Conseil scolaire catholique MonAvenir.

Considered

2019-09-04 · General Government and Licensing Committee · adopted
Decision as filed
The General Government and Licensing Committee recommends that: 1. City Council pass a By-law pursuant to Section 252 of the City of Toronto Act, 2006, providing authority to: a. enter into Municipal Capital Facility Agreements with 7506473 Canada Inc., which leases approximately 3,341 square feet at 1 York Gate Boulevard to the Toronto Public Library, and Great-West Life Realty Advisors, which leases approximately 1,556 square feet at 5150-5160 Yonge Street to the Toronto Public Library, with respect to all space (the Leased Premises) related to facilities for public libraries; and b.
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exempt the Leased Premises from taxation for municipal and school purposes, with the tax exemption being effective from the latest of: (1) the commencement date of the lease, (2) the date the Municipal Capital Facility Agreement is entered into, and (3) the date the Tax Exemption By-law is enacted. 2. City Council direct the City Clerk to give written notice of the By-law to the Minister of Finance, the Municipal Property Assessment Corporation, the Toronto District School Board, the Toronto Catholic District School Board, le Conseil scolaire Viamonde, and le Conseil scolaire catholique MonAvenir.
2019-10-02 · Toronto City Council · adopted

On the record

The item as the City filed it

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