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CreateTO · 2021-07-07 · 2021.RA23.2

The filed record

Redevelopment of 260 Adelaide Street West

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The decision

2021-07-07 · CreateTO · adopted

As filed

The Board of Directors of CreateTO: 1. Approved the negotiated joint development agreement with the adjacent landowner to 260 Adelaide Street West to jointly rezone and sell the sites based on the terms and conditions set out in Confidential Attachment 1 to the report (June 24, 2021) from the Executive Vice President, Development, CreateTO. 2. Directed that Confidential Attachment 1 to the report (June 24, 2021) from the Executive Vice President, Development, CreateTO remain confidential in its entirety as it contains information regarding the proposed disposition of land.

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3. Recommends that City Council approve the negotiated joint development agreement with the adjacent landowner to 260 Adelaide Street West to jointly rezone and sell the sites based on the terms and conditions set out in Confidential Attachment 1 to the report (June 24, 2021) from the Executive Vice President, Development, CreateTO, and that City Council direct that Confidential Attachment 1 to the report (June 24, 2021) from the Executive Vice President, Development, CreateTO remain confidential in its entirety as it contains information regarding the proposed disposition of land.

On the agenda

As the city filed it

The purpose of this report is to provide additional information requested by the Board of Directors of CreateTO (the "Board") regarding the business plan related to the redevelopment of the City-owned property at 260 Adelaide Street West ("260 Adelaide") and receive approval from the Board on the negotiated joint development agreement with the adjacent landowner based on the terms and conditions set out in Confidential Attachment 1.

Staff recommended

The Executive Vice President, Development recommends that the Board of Directors of CreateTO: 1. Approve the negotiated joint development agreement with the adjacent landowner to 260 Adelaide Street West to jointly rezone and sell the sites based on the terms and conditions set out in Confidential Attachment 1. 2. Direct that Confidential Attachment 1 to this report remain confidential in its entirety as it contains information regarding the proposed disposition of land.

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3. Recommend that City Council approve the negotiated joint development agreement with the adjacent landowner to 260 Adelaide Street West to jointly rezone and sell the sites based on the terms and conditions set out in Confidential Attachment 1, and that City Council direct that Confidential Attachment 1 to this report remain confidential in its entirety as it contains information regarding the proposed disposition of land.

    On the record

    The item as the City filed it

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