2. Property Acquisition – 620 Adelaide Street North – Canadian Pacific Railway Company – Adelaide Street CP Rail Grade Separation Project
That, on the recommendation of the Managing Director, Corporate Services and City Treasurer, Chief Financial Officer, with the concurrence of the Director, Roads and Transportation and Division Manager, Transportation Planning and Design, on the advice of the Manager of Realty Services, with respect to the property located at 620 Adelaide Street North, further described as Part of Block “B”, South Side of Salisbury Street, Plan 386 (3rd), being the Part of PIN 08279-0186 (LT), as shown on the location map attached, for the purpose of future road improvement to accommodate the Adelaide Street CP Rail Grade Separation Project, the following actions be taken:
a) the Offer / Agreement of Purchase and Sale submitted by Canadian Pacific Railway Company (the Vendor) to sell that portion of the subject property designated as Part 1, Plan 33R-20258 (the Property) to the City, for the sum of $62,667.00, BE ACCPTED, subject to the following conditions:
i) the Vendor granting the City a Permanent Subsurface Easement over that portion of the subject property designated as Part 2, Plan 33R-20258 (the Permanent Easement Lands), for the construction of utilities for use as part of the City’s municipal services system;
ii) the Vendor granting a Temporary License Agreement over that portion of the subject property designated as Part 2, Plan 33R-20258 (Detour Lands) to the City, for the purposes of constructing and maintaining the Adelaide Street road diversion for a period commencing June 1, 2020 and ending June 30, 2024;
iii) the City agreeing to pay to Canadian Pacific Railway Company for the lost income to be suffered (injurious affection) for the inability to receive the current rentals from the Tenant (Trad’s Furniture of London Limited) and for the billboard sign during the four (4) year period term from the period commencing June 1, 2020 and ending June 30, 2024,
iv) the City having thirty (30) days from the date of acceptance to examine title to the property;
v) the City having the right to have access to the Property and the Permanent Easement Lands for the purpose of making soil, ground water, environmental or other inspections during ordinary business hours on business days following the date of acceptance to December 13, 2019 (the “Inspection Period”);
vi) the Vendor agreeing that the lands have been declared surplus to the Vendor’s needs by the closing date;
vii) the City agreeing to pay the Vendors’ reasonable legal costs, including fees, disbursements, and applicable taxes, to complete this transaction, subject to assessment; and
b) the financing for this acquisition, including additional considerations, as outlined in the attached Source of Financing Report, BE APPROVED.
3. Property Acquisition – 2535 Hyde Park Road – Sunningdale Road West Roundabout
That, on the recommendation of the Managing Director, Corporate Services and City Treasurer, Chief Financial Officer, with the concurrence of the Director, Roads and Transportation and Division Manager, Transportation Planning and Design, on the advice of the Manager of Realty Services, with respect to the property located at 2535 Hyde Park Road, described as Part of Lot 24, Concession 6, being part of PIN 08138-0057 (LT), further described as Part 4, Plan 33R-20415, as shown on the location map attached, for the purpose of future road improvement to accommodate the Sunningdale Road West/Hyde Park Road Roundabout Project, the following actions be taken:
a) the offer submitted by Jawaid Akhtar and Amir Akhtar, to sell a portion of the subject property to the City, for the sum of $190,000.00, BE ACCEPTED, subject to the following conditions:
i) the City having until 4:30 p.m. on December 6, 2019 to examine title to the property;
ii) the City agreeing to reimburse on completion, any mortgage penalty discharge cost (the “Mortgage Discharge Cost”) incurred by the Vendors to discharge the mortgage from the property at the time of completion in accordance with Section 20 of the Expropriations Act;
iii) the City agreeing to pay the Vendors’ reasonable legal costs, including fees, disbursements, and applicable taxes, to complete this transaction, subject to assessment; and
b) the financing for this acquisition BE APPROVED as set out in the Source of Financing Report attached hereto as Appendix “A”.
4. Property Acquisition – 2545 Hyde Park Road – Sunningdale Road West Roundabout
That, on the recommendation of the Managing Director, Corporate Services and City Treasurer, Chief Financial Officer, with the concurrence of the Director, Roads and Transportation and Division Manager, Transportation Planning and Design, on the advice of the Manager of Realty Services, with respect to a portion of the property municipally known as 2545 Hyde Park Road, described as Part of Lot 24, Concession 6, being the whole of PIN 08138-0056 (LT), further described as Part 5, Plan 33R-20415, as shown on the location map attached, for the purpose of future road improvement to accommodate the Sunningdale Road West / Hyde Park Road Roundabout Project, the following actions be taken:
a) the offer submitted by Jason Stephen Denda and Bridget Marie Mercer, to sell a portion of the subject property to the City, for the sum of $154,900.00, BE ACCEPTED, subject to the following conditions:
i) the City agreeing to pay a further sum of $100.00 for the Grant of Temporary Easement and Consent to Enter agreement;
ii) the City having until 4:30 p.m. on December 6, 2019 to examine title to the property;
iii) the City agreeing to reimburse the Vendors, on completion, any mortgage penalty discharge cost (the “Mortgage Discharge Cost”) incurred by the Vendors to discharge the mortgage from the property at the time of completion in accordance with Section 20 of the Expropriations Act;
iv) the City agreeing to pay the Vendors’ reasonable legal costs, including fees, disbursements, and applicable taxes, to complete this transaction, subject to assessment; and
b) the financing for this acquisition BE APPROVED as set out in the Source of Financing Report attached hereto as Appendix “A”.
5. Property Acquisition – Part of 1588 Clarke Street – Veterans Memorial Parkway North Extension Project
That, on the recommendation of the Managing Director, Corporate Services and City Treasurer, Chief Financial Officer, with the concurrence of the Division Manager, Transportation Planning and Design and the Director, Roads and Transportation, on the advice of the Manager of Realty Services, with respect to the property located at 1588 Clark Road, further described as Part of Lot 4, Concession 3, designated as Part 2, Reference Plan 33R-20347, being part of PIN 08147-0159, and Part of Lot 4, Concession 3, designated as Parts 3, 4, 5, 6 and 7, Plan 33R-20347, being Part of PIN 08147-0160, both in the Geographic Township of London, now in the City of London, as shown on the location map attached, the following actions be taken:
a) the offer submitted by Hydro One Networks Inc. under the name Her Majesty the Queen in Right of Ontario, as represented by The Ministry of Government and Consumer Services, to sell the subject property to the City, BE ACCEPTED, for the sum of $185,200.00; and
b) the financing for this acquisition BE APPROVED as set out in the Source of Financing Report attached hereto as Appendix “A”.
7. Property Acquisition – 345 Sylvan Street – Core Area Stabilization Space
That, on the recommendation of the Managing Director, Corporate Services and City Treasurer, Chief Financial Officer, with the concurrence of the Managing Director, Housing, Social Services and Dearness Home, on the advice of the Manager of Realty Services, with respect to the property located at 345 Sylvan Street, further described as Blocks A and B, Plan 816, Part Lots 4, 5 and 13, Plan 816, Part of Lots 7, 8 and 10, Plan 328, as in Instrument # 710563, subject to Instrument No. 710563, subject to Instrument No. 88083, in the City of London, County of Middlesex, further described as PIN 08363-0084 (LT), containing an area of approximately 1.44 acres, as shown on the location map attached, for the purpose of stabilization space, the following actions be taken:
a) the offer submitted by WAYS Mental Health Support (the “Vendor”), to sell the subject property to the City, for the sum of $1,050,000.00, BE ACCEPTED subject to the following conditions:
i) the City, or an agent of the City, shall be entitled to enter and inspect the property including all dwellings and buildings prior to the closing of this agreement;
ii) all buildings on the property and all other things being purchased shall be and remain until completion at the risk of the Vendor. Pending completion, the Vendor shall hold all insurance policies, if any, and the proceeds thereof in trust for the parties as their interests may appear and in the event of substantial damage, the City may either terminate this agreement and have all monies paid returned without interest or deduction, or else take the proceeds of any insurance and complete the purchase. No insurance shall be transferred on completion;
iii) the Vendor agrees to leave the property neat and tidy, free and clear of all refuse, hazardous and other waste material, garbage or other loose or objectionable materials. Should this condition not be met at the time of closing, the City reserves the right to delay the closing;
iv) the City (the Purchaser) acknowledges that the property is listed by StreetCity Realty Inc. and StreetCity Realty Inc. is not providing any client or customer service to the City for this transaction in any way and any associated brokerage fees will be the responsibility of the Vendor;
v) the City acknowledges having been advised that a third party holds a pre-existing first right of refusal to purchase the property pursuant to a Right of First Refusal Agreement; and,
b) the financing for this acquisition BE APPROVED as set out in the source of Financing Report attached hereto as Appendix “A”.