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HomeMy WebLinkAboutBy-law 5322/98THE CORPORATION OF THE TOWN OF PICKERING BY-LAW NO. 5 3 2 2/9 8 Being a by-law to authorize the execution of an Agreement between the Town of Pickering and Discovery Place Limited regarding the payment of development charges and cash in-lieu of parkland dedication for the Millennium at Discovery Place on part of Lot 11, Plan 40R- 10070, Pickering. WHEREAS Section 9(8) of the Development Charges Act, R.S.O. 1990 c. D.9 authorizes the Town to enter into agreements for the payment of development charges on dates later than the issuing of a building permit; WHEREAS the proposed 253 unit high-rise residential development will be constructed through the issuance of staged building permits, the first permit being a conditional building permit for the underground works and the second permit will be issued for the above-ground superstructure; WHEREAS the Town's existing practice requires all development charges and cash-in-lieu of parkland dedication to be paid prior to the issuance of the first building permit issued for the development; WHEREAS the Town desires to enter into an agreement with Discovery Place Limited regarding the timing of the payment of the Town's development charges and the cash-in-lieu of parkland dedication on the proposed Millennium at Discovery Place condominium development to be located on part of Lot 11, Plan 40R-10070. NOW THEREFORE THE COUNCIL OF THE CORPORATION OF THE TOWN OF PICKERING HEREBY ENACTS AS FOLLOWS: The Mayor and Clerk are hereby authorized to execute an Agreement with Discovery Place Limited, prepared in a form acceptable to the Town's Solicitor, which provides for the deferred payment of the Town's development charges and cash-in-lieu of parkland for the 253 unit (Millennium at Discovery Place) development for a period not exceeding six months from the date of issuance of the first building permit for the underground works. BY-LAW read a first, second and third time and finally passed this 1 st day of June, 1998. TOW?,~ OF' IE ' ~)~P'I'. D8612 Wayne Arthurs, Mayor Bruce Taylor, Clerk