That, on the recommendation of the Managing
Director, Corporate Services and City Treasurer, Chief Financial Officer, on
the advice of the Manager of Realty Services, the following actions be taken with
respect to the City owned industrial land located on the west side of Scanlan
Street, in the River Road Industrial Park, containing an area of 2.32 acres,
being comprised of Lot 7, Plan 33M-415, as outlined on the sketch attached as
Schedule “A” to the staff report dated July 19, 2016:
a) the
offer submitted by Bruder Realty Ltd. (the “Purchaser”) to purchase the
subject property from the City, at a purchase price of $162,400.00
(reflecting a sale price of $70,000.00 per acre) BE ACCEPTED; and
b) the
proposed by-law attached to the staff report dated July 19, 2016 as Appendix
“B” BE INTRODUCED at the Municipal Council meeting to be held on July 26,
2016, to approve the Agreement of Purchase and Sale and to authorize the
Mayor and the City Clerk to execute the Agreement.
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