Recommendation: That, on the
recommendation of the Director, Corporate Investments and Partnerships, the
following actions be taken with respect to a redevelopment opportunity for
the property at 111 Horton Street:
a) the
attached proposed by-law (‘Appendix A’) BE INTRODUCED at the Municipal
Council meeting of June 25, 2013 to:
i)
approve
the Non-Disclosure Agreement between The Corporation of the City of London
and Kilmer Brownfield Management Limited and London Hydro Incorporated;
ii)
authorize
the Mayor and the City to execute the Agreement in b) above;
b) the
redevelopment at 111 Horton Street BE SUPPORTED IN PRINCIPLE subject to the
Civic Administration preparing guidelines for the redevelopment;
c) the
Civic Administration BE REQUESTED undertake a “Reach Study” to evaluate
potential flood impacts and management and to identify barriers that could
hinder the above-noted project from moving forward expeditiously with options
for the Municipal Council to overcome those barriers to be provided; and,
d) the
Civic Administration BE DIRECTED to establish a source of financing for the
above-noted “Reach Study”;
it being noted that the Investment and
Economic Prosperity Committee heard the attached presentation from
Pamela Kraft, Managing Director, Kilmer Brownfield Equity Fund L.P., with
respect to this matter.
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