2233 Sheppard Avenue West - Designation of a Portion of the Property Used by the Toronto Transit Commission as a Municipal Capital Facility

The Public Gallery wrote no story on this item. What follows is the city’s own record of what happened to it, as filed: nothing on this page is summarised or scored by us.

The decision

2020-07-28 · Toronto City Council · adopted

As filed

City Council on July 28 and 29, 2020, 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 a Municipal Capital Facility Agreement with I.G. Investment Management Limited, which leases approximately 544,382 square feet of space at 2233 Sheppard Avenue West (the "Leased Premises") to the Toronto Transit Commission (TTC), related to the provision of telecommunications, transit and transportation systems; and b.

Show the rest of As filed, 601 more characters as filed

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 a portion of the property owned by I.G. Investment Management Limited and leased by the Toronto Transit Commission (TTC) as a Municipal Capital Facility, and to provide an exemption for the municipal taxes and education taxes. The Municipal Capital Facility agreement authorized by the by-law will provide an exemption for approximately 544,382 square feet of space.

Show the rest of As the city filed it, 690 more characters as filed

The newly constructed privately owned space at 2233 Sheppard Avenue West was selected to consolidate and modernize the TTC's existing warehouse needs as well as to provide additional space to accommodate future growth. The property will be used to centrally receive, test and store inventory such as parts, oil and lubricants needed for the maintenance of buses, streetcars, service vehicles and rolling stock owned by the TTC. Ancillary offices and employee space in support of the ordering, storage, and distribution of inventory to TTC maintenance facilities form part of the leased facility as do loading docks and parking for delivery vehicles, employees, visitors and outdoor storage.

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 a Municipal Capital Facility Agreement with I.G. Investment Management Limited, which leases approximately 544,382 square feet of space at 2233 Sheppard Avenue West (the "Leased Premises") to the Toronto Transit Commission (TTC), related to the provision of telecommunications, transit and transportation systems.

Show the rest of Staff recommended, 607 more characters as filed

b. 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

2020-07-07 · 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 a Municipal Capital Facility Agreement with I.G. Investment Management Limited, which leases approximately 544,382 square feet of space at 2233 Sheppard Avenue West (the "Leased Premises") to the Toronto Transit Commission (TTC), related to the provision of telecommunications, transit and transportation systems; and b.
Show the rest of Decision as filed, 601 more characters as filed
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.
2020-07-28 · Toronto City Council · adopted

On the record

The item as the City filed it

More from this meeting

The whole meeting