30 Adelaide Street East - New Designation of a Portion of the Property Used by Toronto Court Services as a Municipal Capital Facility

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The decision

2022-05-11 · Toronto City Council · adopted

As filed

City Council on May 11 and 12, 2022, 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 30 Adelaide Street East Limited Partnership ("Dream"), which leases approximately 25,901 square feet of space on the 7th floor at 30 Adelaide Street East (the "Leased Premises") to the City of Toronto, used for the general administration of the City; and b.

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exempt the Leased Premises from taxation for municipal and school purposes, with the tax exemption being 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 owned by 30 Adelaide Street East Limited Partnership currently occupied by Toronto Court Services, 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 for approximately 25,901 square feet of interior space, which is the entire 7th floor of 30 Adelaide Street East leased to Toronto Court Services.

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By way of the terms of the existing Municipal Capital Facility by-law and agreement with State Street Trust Company Canada, the current designation is terminated as the sub-landlord has vacated the premises. As there is a new lease between the City and the landlord, 30 Adelaide Street East Limited, a new Municipal Capital Facility by-law and agreement will need to be authorized.

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 30 Adelaide Street East Limited Partnership ("Dream"), which leases approximately 25,901 square feet of space on the 7th floor at 30 Adelaide Street East (the "Leased Premises") to the City of Toronto, used for the general administration of the City; b.

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

2022-04-29 · 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 30 Adelaide Street East Limited Partnership ("Dream"), which leases approximately 25,901 square feet of space on the 7th floor at 30 Adelaide Street East (the "Leased Premises") to the City of Toronto, used for the general administration of the City; and b.
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exempt the Leased Premises from taxation for municipal and school purposes, with the tax exemption being 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.
2022-05-11 · Toronto City Council · adopted

On the record

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