Property Acquisition for New TTC Bus Garage and Additional Operational Uses

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The decision

2021-12-15 · Toronto City Council · adopted

As filed

City Council on December 15, 16 and 17, 2021, adopted the following: 1. City Council authorize the Deputy City Manager, Corporate Services, to negotiate and execute a Letter of Intent, agreement of purchase and sale and any additional or ancillary agreements required for the acquisition of the Property identified in Confidential Attachment 1 to the report (December 8, 2021) from the City Manager and the Executive Director,

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Corporate Real Estate Management, substantially on the terms and conditions outlined in Confidential Attachment 1 to the report (December 8, 2021) from the City Manager and the Executive Director, Corporate Real Estate Management, and on such other additional or amended terms and conditions as may be acceptable to the Deputy City Manager, Corporate Services, and in a form satisfactory to the City Solicitor. 2. City Council adopt the confidential instructions to staff in Confidential Attachment 1 to the report (December 8, 2021) from the City Manager and the Executive Director, Corporate Real Estate Management, and the Toronto Transit Commission Board Transmittal - Confidential Attachment 1 and City Council direct that they remain confidential at this time as they pertain to a proposed or pending acquisition of land. 3. City Council authorize the public release of Confidential Attachment 1 to the report (December 8, 2021) from the City Manager and the Executive Director, Corporate Real Estate Management, and the Toronto Transit Commission Board Transmittal - Confidential Attachment 1 following the closing of any purchase transaction and any other related ancillary agreements. 4. City Council forward the Item and Confidential Attachment 1 to the report (December 8, 2021) from the City Manager and the Executive Director, Corporate Real Estate Management, and the Toronto Transit Commission Board Transmittal - Confidential Attachment 1 to the CreateTO Board for their information. Confidential Attachment 1 to the report (December 8, 2021) from the City Manager and the Executive Director, Corporate Real Estate Management, and the Toronto Transit Commission Board Transmittal - Confidential Attachment 1 remain confidential at this time in accordance with the provisions of the City of Toronto Act, 2006, as they pertain to a proposed or pending acquisition of land. Confidential Attachment 1 to the report (December 8, 2021) from the City Manager and the Executive Director, Corporate Real Estate Management, and the Toronto Transit Commission Board Transmittal - Confidential Attachment 1 will be made public following the closing of any purchase transaction and any other related ancillary agreements.

On the agenda

As the city filed it

The purpose of this report is to obtain City Council approval for the City to move forward on the strategic acquisition of a suitable industrial property (the "Property") for the future site of a new Toronto Transit Commission ("T.T.C.") garage and maintenance facility (the "10th Garage"). The Property is ideally situated and can offer interim T.T.C. uses until such time that a garage on the Property is constructed. Given the parcel size, additional long-term T.T.C.

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uses could be incorporated during the Property's redevelopment process. The description of the Property, its suitability and terms and conditions of the acquisition are described in Confidential Attachment 1 to this report. The Property is considered to be a strategic acquisition that aligns with the T.T.C. Capital Investment Plan 2021-2035, it's Real Estate Investment Plan, CreateTO's Industrial Portfolio Strategy, and the Council-adopted Strategic Acquisition Policy under City-Wide Real Estate model. On December 8, 2021, the Toronto Transit Commission Board approved recommendations concerning this strategic acquisition and is available for City Council review as an attachment to this City report.

Staff recommended

The City Manager and the Executive Director, Corporate Real Estate Management recommend: 1. City Council authorize the Deputy City Manager, Corporate Services, to negotiate and execute a Letter of Intent, agreement of purchase and sale and any additional or ancillary agreements required for the acquisition of the Property identified in Confidential Attachment 1 of this report, substantially on the terms and conditions outlined in Confidential Attachment 1 of this report, and on such other additional or amended terms and conditions as may be acceptable to the Deputy City Manager, Corporate Services, and in a form satisfactory to the City Solicitor.

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2. City Council adopt the confidential instructions to staff in Confidential Attachment 1 of this report, and Toronto Transit Commission Board Transmittal - Confidential Attachment 1 and that the information remain confidential at this time as it pertains to a proposed or pending acquisition of land. 3. City Council authorize the public release of Confidential Attachment 1 of this report and Toronto Transit Commission Board Transmittal - Confidential Attachment 1 following the closing of any purchase transaction and any other related ancillary agreements. 4. City Council forward this report, City of Toronto Confidential Attachment 1, City of Toronto Attachment 2 - Toronto Transit Commission Board Transmittal, and Toronto Transit Commission Board Transmittal - Confidential Attachment 1, be forwarded to the CreateTO Board for their information.

On the record

The item as the City filed it

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