Development Charges Credit - 334 - 350 Bloor Street West

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The decision

2023-11-08 · Toronto City Council · adopted

As filed

City Council on November 8 and 9, 2023, adopted the following: 1. City Council approve a development charge credit against the Transit component of the development charges payable for the proposed development located at 334-350 Bloor Street West for the cost of the design and construction by the owner of the expansion of the concourse level of the Spadina Station discussed in the report (October 17, 2023) from the Chief Planner and Executive Director, City Planning and the Controller; the development charge credit shall be in an amount that is the lesser of the eligible cost to the owner of designing and constructing the improvements to Spadina Station, to the satisfaction of the Toronto Transit Commission, and the Transit component of development charges payable for the development.

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2. City Council authorize appropriate City officials to take such actions as are necessary to implement City Council's decision, including amending the Section 37 Agreement to give effect to the credit in Part 1 above, and adding any additional provisions in the agreement necessary to protect the interests of the City and ensure the completion of the capital works in a timely and effective manner that is integrated with the overall plans for the station.

On the agenda

As the city filed it

This report recommends that City Council approve a development charge credit for the Spadina Subway improvements to be completed by an adjacent developer. The improvements are part of the TTC's Line 2 Capacity Enhancement Program (L2CEP) and would be completed by the applicant concurrently with the construction of the proposed 35-storey mixed-use building project at 334-350 Bloor Street West and 2-6 Spadina Road. The improvements to Spadina Station will enhance pedestrian movement and circulation and includes the construction of a concourse expansion and future stair or escalator between levels.

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In exchange for the construction of these works, the City would provide the applicant with a credit against the transit component of the development charges payable for the proposed development. While approval for development charges credits are normally considered at the time of the final City Planning report, staff are of the opinion that it is beneficial to the City for the applicant to complete the station modification concurrently with the construction of their development proposal. This will result in construction efficiencies for the City, while also contributing to the planned Station expansion. This report has been prepared in consultation with the City Solicitor, and the Toronto Transit Commission.

Staff recommended

The Chief Planner and Executive Director, City Planning and the Controller recommend that: 1. City Council approve a development charge credit against the Transit component of the development charges payable for the proposed development located at 334-350 Bloor Street West for the cost of the design and construction by the owner of the expansion of the concourse level of the Spadina Station discussed in this report; the development charge credit shall be in an amount that is the lesser of the eligible cost to the owner of designing and constructing the improvements to Spadina Station, to the satisfaction of the Toronto Transit Commission, and the Transit component of development charges payable for the development.

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2. City Council authorize appropriate City officials to take such actions as are necessary to implement City Council's decision, including amending the Section 37 Agreement to give effect to the credit in recommendation 1, and adding any additional provisions in the agreement necessary to protect the interests of the City and ensure the completion of the capital works in a timely and effective manner that is integrated with the overall plans for the station.

Considered

2023-10-31 · Executive Committee · adopted
Decision as filed
The Executive Committee recommends that: 1. City Council approve a development charge credit against the Transit component of the development charges payable for the proposed development located at 334-350 Bloor Street West for the cost of the design and construction by the owner of the expansion of the concourse level of the Spadina Station discussed in the report (October 17, 2023) from the Chief Planner and Executive Director, City Planning and the Controller; the development charge credit shall be in an amount that is the lesser of the eligible cost to the owner of designing and constructing the improvements to Spadina Station, to the satisfaction of the Toronto Transit Commission, and the Transit component of development charges payable for the development.
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2. City Council authorize appropriate City officials to take such actions as are necessary to implement City Council's decision, including amending the Section 37 Agreement to give effect to the credit in Recommendation 1 above, and adding any additional provisions in the agreement necessary to protect the interests of the City and ensure the completion of the capital works in a timely and effective manner that is integrated with the overall plans for the station.
2023-11-08 · Toronto City Council · adopted

On the record

The item as the City filed it

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