Redirecting the Proceeds of the Sale of a Residual Portion of City-owned land at 276 Lauder Avenue - by Councillor Alejandra Bravo, seconded by Councillor Ausma Malik

The garage has been in place for the last 38 years and was not identified as having been erected on City-owned lands until the owner listed 276 Lauder Avenue for sale on the open market and learned that the Municipal Lands were not a part of the Property. In accordance with the City's Real Estate Disposal By-law 814-2007, the Municipal Lands were declared surplus on October 5, 2022 by DAF 2022-221 with the intended manner of disposal, to invite an offer to purchase from the owner of the Property. Terms of the agreement have been finalized. The major terms and conditions of the transaction are considered to be fair, reasonable, and reflective of market value. The sale of the Municipal Lands to the owner of 276 Lauder Avenue was subsequently authorized on April 26, 2023 by DAF 2023-119. While the Director, Transaction Services has approved the sale of the Municipal Lands through delegated authority, I am requesting City Council direct the proceeds of the sale to the South District Parkland Acquisition reserve fund. This area of Toronto is experiencing unprecedented growth and parkland acquisition must be a priority that is supported as the provision of parks is critical to the liveability of these communities. The Motion is urgent as the transaction in question has already been approved.