109-125 George Street and 231 Richmond Street East - Official Plan and Zoning By-law Amendment Application - Final Report

3. City Council authorize the City Solicitor to make such stylistic and technical changes to the draft Official Plan and Zoning By-law Amendments as may be required. 4. Before introducing the necessary Bills contemplated in Parts 1 and 2 above to City Council for enactment, City Council require the owner(s) of the lands at 109-125 George Street and 231 Richmond Street East to: a. submit to the Chief Engineer and Executive Director, Engineering and Construction Services, for review and acceptance, a revised Functional Servicing and Stormwater Management Report to determine whether the municipal water, sanitary and stormsewer systems can support the proposed development and whether upgrades or improvements of the existing municipal infrastructure are required; b. enter into a financially secured agreement for the construction of any improvements to the municipal infrastructure, should it be determined that upgrades and road improvements are required to support the development, according to the transportation report accepted by the General Manager, Transportation Services and the Functional Servicing Report accepted by the Chief Engineer and Executive Director, Engineering and Construction Services; c. enter into and register on title to the lands, at the owner(s)' sole cost and expense, an Agreement pursuant to Section 37 of the Planning Act and any other necessary agreements, satisfactory to the Chief Planner and Executive Director, City Planning and the City Solicitor, to secure the following community benefits, in a form satisfactory to the City Solicitor: i. the conveyance of, for nominal consideration, a minimum of one (1) one-bedroom, four (4) two-bedroom, and two (2) three-bedroom dwelling units (the "Affordable Rental Units") in the new 39-storey mixed use building for operation of affordable rental housing to WoodGreen Community Housing Inc. or another non-profit housing provider (the "Provider"), to the satisfaction of the Executive Director, Housing Secretariat, in consultation with the local Councillor, on terms and conditions satisfactory to the Executive Director, Housing Secretariat, and such units shall have the following minimum specifications: A. each three-bedroom rental unit shall have a minimum unit size of 75 square metres; B. each two-bedroom rental unit shall have a minimum unit size of 56 square metres; C. each one-bedroom rental unit shall have a minimum unit size of 39 square metres; D. the location and layouts of the new affordable rental dwelling units within the approved development on the lands shall be to the satisfaction of the Chief Planner and Executive Director, City Planning and the Executive Director, Housing Secretariat; and E. the seven dwelling units shall be constructed to a fully-finished condition, to a similar standard as the market units in the remainder of the development; ii. the not-for-profit affordable housing provider shall provide and maintain the affordable rental dwelling units as secured rental housing for a minimum period of 49 years beginning from the date that each such unit is first occupied; iii. the initial rent (inclusive of utilities) charged to the first tenants of any affordable rental dwelling unit shall not exceed 80 percent of the average rent for the same bedroom type in the City of Toronto, as reported by the Canada Mortgage and Housing Corporation in its most recent annual Rental Market Report; iv. at least six months in advance of any new affordable rental dwelling unit being made available for rent, the Provider shall develop and implement a Tenant Access Plan in consultation with, and to the satisfaction of, the Chief Planner and Executive Director, City Planning and the Executive Director, Housing Secretariat; v. the new affordable rental dwelling units shall be made ready and available for occupancy no later than the date by which 70 percent of the new dwelling units erected on the lands are available and ready for occupancy; vi. the owner shall ensure that the condominium declaration, By-laws and proposed rules provide all tenants of the affordable rental dwelling units with access to, and use of, all indoor and outdoor amenities in the development at no extra charge; access to, and use of, these amenities shall be provided on the same terms and conditions as any other resident of the building without the need to pre-book or pay a fee, unless specifically required as a customary practice for private bookings; vii. the owner shall ensure that the condominium declaration, By-laws and proposed rules provide all tenants of the affordable rental dwelling units with laundry facilities on the same basis as other units within the development at no extra charge; viii. the owner shall ensure that the condominium declaration, By-laws and proposed rules provide all tenants of the affordable rental dwelling units with access to permanent and visitor bicycle parking/bicycle lockers on the same terms and conditions as any other resident of the building and in accordance with the Zoning By-law; ix. the common expense fees for the affordable rental dwelling units shall be reduced by 50 percent from the other market condominium units in the building for the affordability period of 49 years or the owner shall make an equivalent monetary contribution to the City of Toronto; x. the current owner shall pay all applicable land transfer taxes associated with the conveyance of the affordable rental dwelling units to the Provider; xi. there shall be no closing adjustments made with respect to the seven (7) affordable rental dwelling units transferred to the Provider, other than adjustments for monthly occupancy fees or common expense fees and realty taxes for the year in which the final closing date occurs to be adjusted and payable on either the interim occupancy or final closing date of the sale of the units; xii. the owner shall be solely responsible and liable for remitting the Harmonized Sales Tax eligible on each of the units' conveyances, on the basis that such conveyances to the Provider and/or the City of Toronto may not be eligible for any new housing rebates whatsoever; and xiii. the owner shall enter into Agreements of Purchase and Sale on its standard terms, as modified by City Council's decision with respect to all the affordable housing units, referenced in Part 4.c.i. above, with the City of Toronto and/or the Provider prior to the issuance of the first above grade building permit for the development and there shall be provisions allowing the Agreements of Purchase and Sale of all these units to be assignable by the City of Toronto to a Provider at the City of Toronto's sole discretion; d. secure the following matters in the Section 37 Agreement in support of the development: i. the owner(s) will: A. construct and maintain an area of not less than 265 square metres, at grade, for use by the general public as privately-owned publicly accessible open space in the southwest corner of the site in a location generally identified in the Zoning By-law Amendment, with the specific configuration and design of the privately-owned publicly accessible open space and associated terms to be secured in the Section 37 Agreement, to the satisfaction of the Chief Planner and Executive Director, City Planning, in consultation with the Ward Councillor; and B. prepare all documents and convey, to the satisfaction of the Chief Planner and Executive Director, City Planning and the City Solicitor, free and clear of encumbrances and for nominal consideration, a public access easement, including support rights, in perpetuity in favour of the City of Toronto over the privately-owned publicly accessible open space, on terms set out in the Section 37 Agreement satisfactory to the Chief Planner and Executive Director, City Planning; ii. the owner(s) will construct and maintain the development of the site in accordance with Tier 1 of the Toronto Green Standard and the owner will be encouraged to achieve Tier 2 or higher of the Toronto Green Standard, through the site plan approval process; iii. prior to the issuance of first above grade building permit, the owner(s) of 109-117 George Street, 119-125 George Street and 231 Richmond Street East will enter into and register a Limiting Distance Agreement with the City of Toronto, to the satisfaction of the City Solicitor, which will establish a Limiting Distance Area on the property at 109-117 George Street where no new building or structure may be constructed within 30.4 metres of the south property line abutting 105 George Street above a geodetic height of 103.87 metres; and iv. the owner(s) will enter into a financially secured agreement for the construction of any improvements to the municipal infrastructure, should it be determined that upgrades and road improvements are required to support the development, according to the transportation report accepted by the General Manager, Transportation Services and the Functional Servicing Report accepted by the Chief Engineer and Executive Director, Engineering and Construction Services; e. withdraw its appeal of Official Plan Amendment 352, being the Downtown Tall Buildings Setback Area Specific Policy and the associated Zoning By-laws 1106-2016 and 1107-2016, as they relate to the subject lands; and f. withdraw its appeal of Official Plan Amendment 525, being the King-Parliament Secondary Plan and the associated Zoning By-law 393-2021, as they relate to the subject lands. 5. City Council authorize the appropriate City Officials to take such actions as are required to implement City Council's decision, including the execution and implementation of the Section 37 Agreement. 6. City Council authorize seven (7) affordable rental housing units to be developed at 109-125 George Street and 231 Richmond Street East to be eligible for waivers of planning application, building permit and development charge exemptions. 7. City Council authorize an exemption from taxation for municipal and school purposes for 49 years for the seven (7) affordable rental units to be constructed on the lands known as 109-125 George Street and 231 Richmond Street East. 8. City Council authorize the Executive Director, Housing Secretariat to negotiate and enter into, on behalf of the City of Toronto, a municipal housing project facility agreement (the "Contribution Agreement") with WoodGreen Community Housing Inc. ("WoodGreen") or another non-profit housing provider selected by the City of Toronto, for the affordable housing to be constructed on the lands known as 109-125 George Street and 231 Richmond Street East, to secure the financial assistance being provided and to set out the terms of the operation of the new affordable rental housing, on terms and conditions satisfactory to the Executive Director, Housing Secretariat and in a form approved by the City Solicitor. 9. City Council authorize the Executive Director, Housing Secretariat to negotiate and enter into, on behalf of the City of Toronto, a municipal housing project facility agreement (the "Contribution Agreement") with Richmond-George Limited or a related corporation for the affordable housing to be constructed on the lands known as 109-125 George Street and 231 Richmond Street East, to secure the financial assistance being provided and to set out the terms of the development of the new affordable rental housing, on terms and conditions satisfactory to the Executive Director, Housing Secretariat and in a form approved by the City Solicitor. 10. City Council authorize the Controller to cancel or refund any taxes paid after the effective date of the Contribution Agreements. 11. City Council authorize the City of Toronto to be a party to the Agreements of Purchase and Sale for the affordable housing units as a contingent transferee, in order to implement City Council's decision. 12. City Council authorize the Executive Director, Housing Secretariat to execute the Agreements of Purchase and Sale for the affordable housing units, on terms and conditions satisfactory to the Executive Director, Housing Secretariat and in a form approved by the City Solicitor. 13. City Council authorize severally each of the Executive Director, Housing Secretariat and the General Manager, Shelter, Support and Housing Administration to execute, on behalf of the City of Toronto, any security or financing documents required by WoodGreen Community Housing Inc. or another non-profit housing provider selected by the City of Toronto or Richmond-George Limited or a related corporation to obtain conventional financing and subsequent refinancing, including any postponement, tripartite, confirmation of status, discharge or consent documents of any City of Toronto security documents where and when required during the term of the municipal housing project facility agreement, as required by normal business practices, and provided that such documents do not give rise to financial obligations on the part of the City of Toronto that have not been previously approved by City Council. 14. City Council authorize the Executive Director, Housing Secretariat to administer and manage the transaction relating to the affordable housing units in consultation with the Executive Director, Corporate Real Estate Management, including the provision of any consents, approvals, waivers and notices, provided that they may, at any time, refer consideration of any such matters (including their content) to City Council for consideration and direction. 15. City Council authorize the appropriate City Officials to take such actions as are required to implement City Council's decision, including the execution and implementation of the Section 37 Agreement.