351 Lake Shore Boulevard East, 545 Lake Shore Boulevard West, and 5800 Yonge Street - Designation of Portions of the Properties Used as Temporary Shelters as Municipal Capital Facilities

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The decision

2019-11-26 · Toronto City Council · adopted

As filed

City Council on November 26 and 27, 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 Gulfdream Limited Partnership, which leases approximately 53,000 square feet of space at 351 Lake Shore Boulevard East, and Times 5800 Inc., which leases approximately 84,366 square feet of space at 5800 Yonge Street, with respect to facilities for social and health services and ancillary parking, and with 545 Lake Shore West Property Inc., which leases approximately 90,040 square feet of space at 545 Lake Shore Boulevard West, with respect to a facility for social and health services (the "Leased Premises"); 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 City Council's authority for the adoption of the necessary By-law to designate portions of two properties leased and occupied as temporary shelters and ancillary parking facilities and one property leased and occupied as a temporary shelter without ancillary parking 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 53,000 square feet of space at 351 Lake Shore Boulevard East, 90,040 square feet of space at 545 Lake Shore Boulevard West, and 8.1 acres of land, including 84,366 square feet of building space, at 5800 Yonge Street.

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Although the request includes ancillary parking for 351 Lake Shore Boulevard East and 5800 Yonge Street, the parking lot located at 545 Lake Shore Boulevard West is being run by the Toronto Parking Authority and is not subject to the Municipal Capital Facility exemption.

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 Gulfdream Limited Partnership, which leases approximately 53,000 square feet of space at 351 Lake Shore Boulevard East, and Times 5800 Inc., which leases approximately 84,366 square feet of space at 5800 Yonge Street, with respect to facilities for social and health services and ancillary parking and with 545 Lake Shore West Property Inc., which leases approximately 90,040 square feet of space at 545 Lake Shore Boulevard West, with respect to a facility for social and health services (the "Leased Premises"); and b.

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Considered

2019-11-18 · 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 Gulfdream Limited Partnership, which leases approximately 53,000 square feet of space at 351 Lake Shore Boulevard East, and Times 5800 Inc., which leases approximately 84,366 square feet of space at 5800 Yonge Street, with respect to facilities for social and health services and ancillary parking, and with 545 Lake Shore West Property Inc., which leases approximately 90,040 square feet of space at 545 Lake Shore Boulevard West, with respect to a facility for social and health services (the "Leased Premises"); 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.
2019-11-26 · Toronto City Council · adopted

On the record

The item as the City filed it

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