That, on the recommendation of the Director, Development Services, the following actions be taken with respect to entering into a Subdivision Agreement between The Corporation of the City of London and Drewlo Holdings Inc., for the subdivision of land over Lot 1, Lot 7 and Lot 8 Registered Plan No. 284(C) and Part of Lot 17 and Lot 18 Broken Front Concession B (Geographic Township of Westminster) and Part of Block 73 Plan 33M-269 in the City of London, County of Middlesex; situated on the east of Pond Mills Road, south of the Thames River, and west of Shelborne Place, municipally known as 130, 136, 146 and 164 Pond Mills Road:
a) the Special Provisions, to be contained in a Subdivision Agreement between The Corporation of the City of London and Drewlo Holdings Inc., for the Pond Mills Subdivision (39T-12501) appended to the staff report dated May 25, 2020 as Appendix “A”, BE APPROVED;
b) the Applicant BE ADVISED that Development Finance has summarized the claims and revenues appended to the staff report dated May 25, 2020 as Appendix “B”;
c) the financing for this project BE APPROVED as set out in the Source of Financing Report appended to the staff report dated May 25, 2020 as Appendix “C”; and,
d) the Mayor and the City Clerk BE AUTHORIZED to execute this Agreement, any amending agreements and all documents required to fulfill its conditions.