HomeMy WebLinkAboutLEG 02-20clia �f
DICKERING
Report to Council
Report Number: LEG 02-20
Date: January 27, 2020
From: Paul Bigioni
Director, Corporate Services & City Solicitor
Subject: 2020 Pre -Budget Approval
City of Pickering Land Purchase from Metrolinx
- Part Lot 21, Concession 1, Pickering, being part of PIN 26330-0186 (LT)
- File: L-4610-012-18
Recommendation:
1. That Council provide 2020 pre -budget approval in the amount of $831,761.00 (net of HST
rebate) for the purchase of Part Lot 21, Concession 1, Pickering, being part of PIN 26330-
0186 (LT) from Metrolinx;
2. That Council authorize the Director, Finance & Treasurer to finance the purchase costs of
$831,761.00 as follows:
a) The sum of $207,940.00 to be funded by the Pickering Downtown Landowners
Group;
b) The sum of $623,821.00 to be funded by a transfer from the Development Charges
— Transportation Reserve Fund; and
3. That the appropriate City officials be authorized to take the necessary actions as indicated in
this report.
Executive Summary: In December, 2019, Council approved the purchase of Part Lot 21,
Concession 1, Pickering, being part of PIN 26330-0186 (LT) (the "Lands") from Metrolinx
(Resolution 209/19).
The Agreement of Purchase and Sale (the "Agreement") dated July 10, 2019 between The
Corporation of the City of Pickering, as purchaser, and Metrolinx, as vendor, provides for a closing
date of January 31, 2020. 2020 pre -budget approval is required in order to finance the purchase
costs of the Lands in the amount of $831,761.00.
LEG 02-20
January 27, 2020
Subject: Land Purchase from Metrolinx — 2020 Pre -Budget Approval Page 2
Financial Implications:
1. Proposed Amount
Land Purchase Price
HST (13%)
Total Gross Purchase Cost
$795,000.00
103,350.00
$898,350.00
2. Estimated Purchase Costs
Land Purchase Price
Land Transfer Tax
Miscellaneous Costs
Total Cost
HST (13%)
Total Gross Purchase Costs
HST Rebate (11.24%)
Total Net Purchase Costs
$795,000.00
12,375.00
10,000.00
$817,375.00
106,259.00
$923,634.00
(91,873.00)
$831,761.00
3. Approved Source of Funds
2020 Pre -Budget Approval
Account Code
5999.2098.6999
Source of Funds
Pickering Downtown Landowners Group (25%)
DCs — Transportation Reserve Fund (75%)
Pre -Budget
Approval
$207,940.00
623,821.00
Total Funds $831,761.00
On December 16, 2019, Council approved Report LEG 05-19 authorizing the City to purchase the
Lands from Metrolinx and to front fund the purchase costs for the Lands on the closing date. 75
percent of the purchase costs will be funded from the Development Charges — Transportation
Reserve Fund. The remaining 25 percent of the purchase costs will be refunded by the Pickering
Downtown Landowners Group in accordance with the terms of the Infrastructure Agreement for
the H6 Block.
CORP0227-07/01 revised
LEG 02-20 January 27, 2020
Subject: Land Purchase from Metrolinx — 2020 Pre -Budget Approval
Page 3
Discussion: In December, 2019, Council passed Resolution 209/19 approving the
purchase of the Lands from Metrolinx.
The total cost to complete the purchase transaction is in the amount of $831,761.00 (het of HST
rebate). The Agreement provides for a closing date of January 31, 2020. 2020 pre -budget
approval is required in order to finance the purchase costs of the Lands.
On December 16, 2019, Council approved Report LEG 05-19 authorizing the City to purchase the
Lands from Metrolinx and to front fund the purchase costs for the Lands on the closing date. 75
percent of the purchase costs will be funded from the Development Charges — Transportation
Reserve Fund. The remaining 25 percent of the purchase costs will be refunded by the Pickering
Downtown Landowners Group in accordance with the terms of the Infrastructure Agreement for
the H6 Block.
Attachments:
1. Resolution 209/19
gel
-8■1111,119 viir- ashos, B.A. (Hons.), M.A., J.D. Paul Bi
Approv ' . /Endorsed By:
Assistant Solicitor
CT:ks
Direct°
orate Services & City Solicitor
Approved/Endorsed By:
Stan Karwowski
Director, Finance & Treasurer
Recommended for the consideration
of Pickering City Council
Tony Prevedel, P.Eng.
Chief Administrative Officer
WZe2CJ
CORP0227-07/01 revised
Attachment #1 to Report LEG 02-20
December 23, 2019
To:
From:
Subject:
Legislative Services Division
Clerk's Office
Directive Memorandum
Paul Bigioni
Director, Corporate Services & City Solicitor
Susan Cassel
City Clerk
Direction as per Minutes of the Meeting of City Council held on
December 16, 2019
Director, Corporate Services & City Solicitor
Confidential Report LEG 05-19
City of Pickering Land Purchase from Metrolinx
- Part Lot 21, Concession 1, Pickering, Part 1 40R-18785; Pickering,
being all of PIN 26330-0186 (LT)
Council Decision Resolution #209/19
1. That Council approve the acquisition of Part Lot 21, Concession 1, Pickering,
being Part 1, 40R-18785, Pickering, being all of PIN 26330-0186(LT);
2. That the attached Agreement of Purchase and Sale dated July 10, 2019 between
The Corporation of the City of Pickering, as purchaser, and Metrolinx, as vendor,
be approved;
3. That the City Solicitor be authorized to waive any conditions contained within the
said Agreement of Purchase and Sale, and to execute any documents,
instruments, transfers and agreements as may be necessary to complete the
said Agreement of Purchase and Sale; and,
4. That the appropriate City of Pickering officials be authorized to take the
necessary actions as indicated in this Report.
Please take any action deemed necessary.
Susan Cassel
Copy: Chief Administrative Officer
Director, Finance & Treasurer