2445 Lake Shore Boulevard West - Municipal Capital Facility Designation for Storefront Humber Incorporated, for a Portion of the Property

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The decision

2021-05-05 · Toronto City Council · adopted

As filed

City Council on May 5 and 6, 2021, 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 Storefront Humber Incorporated for the property known as 2445 Lake Shore Boulevard West, for the entire building comprising approximately 9,595 square feet of space (the "Leased Premises") for the purposes of providing a Municipal Capital Facility related to the provision of social and health services; and b.

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exempt the Leased Premises from taxation for municipal and school purposes, with the tax exemption to be 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 at 2445 Lake Shore Boulevard West that is owned by the City of Toronto and leased to Storefront Humber Incorporated as a Municipal Capital Facility, and to provide an exemption for municipal and education taxes. The Municipal Capital Facility agreement authorized by the by-law will provide an exemption

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for the entire building currently being leased by Storefront Humber Incorporated under the Community Space Tenancy Policy.

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 Storefront Humber Incorporated for the property known as 2445 Lake Shore Boulevard West, for the entire building comprising approximately 9,595 square feet of space (the "Leased Premises") for the purposes of providing a Municipal Capital Facility related to the provision of social and health services; and b.

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exempt the Leased Premises from taxation for municipal and school purposes, with the tax exemption to be 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

2021-04-26 · 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 Storefront Humber Incorporated for the property known as 2445 Lake Shore Boulevard West, for the entire building comprising approximately 9,595 square feet of space (the "Leased Premises") for the purposes of providing a Municipal Capital Facility related to the provision of social and health services; and b.
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exempt the Leased Premises from taxation for municipal and school purposes, with the tax exemption to be 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.
2021-05-05 · Toronto City Council · adopted

On the record

The item as the City filed it

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