Lease of Unopened Portion of Murray Ross Parkway to Toronto and Region Conservation Authority

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The decision

2022-07-19 · Toronto City Council · adopted

As filed

City Council on July 19, 20, 21 and 22, 2022, adopted the following: 1. City Council authorize the Executive Director, Corporate Real Estate Management, on behalf of the City as landlord, to enter into a lease with the Toronto and Region Conservation Authority for a term of seven (7) years, with an option to renew for a further fourteen (14) years for nominal consideration, substantially based on the terms and conditions set out in Appendix B to the report (June 17, 2022) from the Executive Director, Corporate Real Estate Management, and on such amended terms and conditions that are acceptable to the Executive Director, Corporate Real Estate Management or designate, and in a form satisfactory to the City Solicitor.

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2. City Council authorize the City Solicitor to complete the Lease transaction on behalf of the City including the provision of the commencement date of the Lease. 3. City Council authorize each of the Executive Director, Corporate Real Estate Management, and the Director, Transaction Services, Corporate Real Estate Management severally to execute the Lease, and any related documents on behalf of the City.

On the agenda

As the city filed it

The purpose of this report is to obtain City Council authority for the City to enter into a seven-year nominal lease agreement (the "Lease") with the Toronto and Region Conservation Authority for the use of a portion of an unopened road allowance lying south of the intersection of Murray Ross Parkway and Shoreham Drive (the "Leased Premises") for the purposes of vehicle and pedestrian ingress and egress, parking, signage, and landscaping.

Staff recommended

The Executive Director, Corporate Real Estate Management recommends that: 1. City Council authorize the Executive Director, Corporate Real Estate Management, on behalf of the City as landlord, to enter into a lease with the Toronto and Region Conservation Authority for a term of seven (7) years, with an option to renew for a further fourteen (14) years for nominal consideration, substantially based on the terms and conditions set out in Appendix B and on such amended terms and conditions that are acceptable to the Executive Director, Corporate Real Estate Management or designate, and in a form satisfactory to the City Solicitor 2.

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City Council authorize the City Solicitor to complete the Lease transaction on behalf of the City including the provision of the commencement date of the Lease. 3. City Council authorize each of the Executive Director, Corporate Real Estate Management, and the Director, Transaction Services, Corporate Real Estate Management severally to execute the Lease, and any related documents on behalf of the City.

Considered

2022-07-04 · General Government and Licensing Committee · adopted
Decision as filed
The General Government and Licensing Committee recommends that: 1. City Council authorize the Executive Director, Corporate Real Estate Management, on behalf of the City as landlord, to enter into a lease with the Toronto and Region Conservation Authority for a term of seven (7) years, with an option to renew for a further fourteen (14) years for nominal consideration, substantially based on the terms and conditions set out in Appendix B to the report (June 17, 2022) from the Executive Director, Corporate Real Estate Management, and on such amended terms and conditions that are acceptable to the Executive Director, Corporate Real Estate Management or designate, and in a form satisfactory to the City Solicitor.
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2. City Council authorize the City Solicitor to complete the Lease transaction on behalf of the City including the provision of the commencement date of the Lease. 3. City Council authorize each of the Executive Director, Corporate Real Estate Management, and the Director, Transaction Services, Corporate Real Estate Management severally to execute the Lease, and any related documents on behalf of the City.
2022-07-19 · Toronto City Council · adopted

On the record

The item as the City filed it

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