Title
SURPLUS OF THE 5 POINTS LANEWAY - 38 BAYFIELD STREET (WARD 2)
1. That the property at 38 Bayfield Street, described as part of PIN 587990043 be further described by reference plan to be deposited, also known as the East portion of the 5 Points Laneway as further depicted in Appendix “A” of Staff Report BDD006-15, be declared surplus to the City’s needs and provided it is sold as part of a land assembly.
2. That staff in the Business Development Department be authorized to negotiate a conditional Agreement of Purchase and Sale (APS) with Advance Tech Developments (the Purchaser) for the property and report back to General Committee for approval.
3. That the purchase price for the property be at market value.
4. That the APS be conditional on:
a) The Purchaser obtaining the required Zoning By-law Amendments and Site Plan Approval for its development proposal; and
b) Any Planning Act application(s) for the lands be at the Buyer’s expense and considered separately and on their own merits with no approval of such Applications being implied. (BDD006-15) (File: L00)