Authorization to Release Section 37 Funds from the 601-613 Yonge Street Development in Order to Fabricate and Install Branded Street Name Signs for the Church Wellesley Village - by Councillor Kristyn Wong-Tam, seconded by Councillor Josh Matlow

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The decision

2021-11-09 · Toronto City Council · adopted

As filed

City Council on November 9, 10 and 12, 2021, adopted the following: 1. City Council increase the Approved 2021-2030 Capital Budget and Plan for Transportation Services by $11,751.89 gross, $0 debt, with cash flow commitments of $11,751.89 in 2022, fully funded by Section 37 community benefits obtained from the development at 601-613 Yonge Street (Source Account: 220096), to be utilized to fabricate and install branded street name signs for the Church Wellesley Village (Signs and Markings Asset Management, CTP421-05).

On the agenda

As the city filed it

In response to requests from the Church Wellesley community, in consultation with Transportation Services, a decorative street sign has been designed to mark the boundaries of one of Toronto's most iconic and historic neighbourhoods. The installation of these signs will enhance the attractiveness of the community for local residents and help commemorate the City's past for future generations. Approximately 41 decorative signs will be purchased and installed.

Show the rest of As the city filed it, 651 more characters as filed

The Motion seeks authorization to include an increase in the 2021-2030 Capital Budget of Transportation Services, to include additional Section 37 Planning Act Reserve Funds of $11,751.89, which shall be utilized to purchase and install rainbow branded street name signs for the Church Wellesley Village. Funds have been secured through Section 37 benefits from the development at 601-613 Yonge Street for the purpose of undertaking local area streetscape and park improvements in Ward 13. The funds have been received by the City from this development and the monies identified above have not been spent, or remain uncommitted to satisfy this motion.

Staff recommended

Councillor Kristyn Wong-Tam, seconded by Councillor Josh Matlow, recommends that: 1. City Council increase the Approved 2021-2030 Capital Budget and Plan for Transportation Services by $11,751.89 gross, $0 debt, with cash flow commitments of $11,751.89 in 2022, fully funded by Section 37 community benefits obtained from the development at 601-613 Yonge Street (Source Account: 220096), to be utilized to fabricate and install branded street name signs for the Church Wellesley Village (Signs and Markings Asset Management, CTP421-05).

On the record

The item as the City filed it

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