1. Partial Property Acquisition – 3363 White Oak Road – Bradley Avenue Extension Project Phase 2 – Wharncliffe Road South to Jalna Boulevard
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 the Division Manager, Transportation Planning and Design, on the advice of the Manager of Realty Services, with respect to the property located at 3363 White Oak Road, further described as Part Lot 31, Concession 2, designated as Part 1, Plan 33R-792, in the City of London, County of Middlesex, designated as Parts 7 and 8, Plan 33R-20205, being part of PIN 08209-0104, as shown on the location map attached, for the purpose of future road improvement to accommodate the Bradley Avenue Extension Project Phase 2, the following actions be taken:
a) the offer submitted by Cars Canada PHA 3 GPSPE L.L.C. (the “Vendor”), to sell the subject property to the City, for the sum of $118,000.00 BE ACCEPTED, subject to the following conditions:
i) the City agreeing to pay the Vendor’s reasonable legal, including fees, disbursements and applicable taxes, as incurred to complete this transaction;
ii) the City, at its expense, agreeing to prepare and deposit on title, on or before closing, a reference plan describing the subject property; and,
iii) the City agreeing to pay a further sum of $13,500.00 for a Grant of Temporary Easement and Consent to Enter Agreement wherein additional compensation and additional terms have been agreed to between the Parties, being the “Related Transaction”; and,
b) the financing for this acquisition BE APPROVED as set out in the Source of Financing Report attached hereto as Appendix “A”.
2. Property Acquisition – 2201 Kains Road – River Bend Pumping Station Lands
That, on the recommendation of the Managing Director, Corporate Services and City Treasurer, Chief Financial Officer, with the concurrence of the Director, Development Services and the Division Manager, Parks Planning and Operation, on the advice of the Manager of Realty Services, with respect to the property located at 2201 Kains Road, further described as Block 14, Plan 33M-429 save and except Plan 33M-481, being all of PIN 08501-0181 (LT) containing an area of approximately 0.54 acres, as shown on the location map attached, for the purpose of the Riverbend Pumping Station, the following actions be taken:
a) the offer submitted by Sifton Properties Limited (the “Vendor”), to sell the subject property to the City, for the sum of $250,000.00 BE ACCEPTED, subject to the following conditions:
i) the Purchaser shall have until 4:00 p.m. on January 29, 2021 (requisition date) to examine the title to the property and at its own expense and to satisfy itself that there are no outstanding work orders or deficiency notices affecting the property, that its present use may be lawfully continued and that the principal building may be insured against risk of fire;
ii) the Purchaser shall have until 4:00 p.m. on November 30, 2020 to satisfy itself in its sole and absolute discretion as to the soil, geotechnical, archaeological, and environmental condition of the property;
iii) the Vendor acknowledges and agrees that any and all property taxes that are in arrears for the property will be paid for by the Vendor at time of Closing for this transaction; and,
iv) the Purchaser acknowledges that pursuant to the terms hereof it will have an opportunity to complete such inspections of the condition of the property as it deems appropriate to be satisfied with regard to same. No representation, warranty or condition is expressed or can be implied as to title, zoning or building by-law compliance, encumbrance, description, fitness for purpose, the existence or non-existence of contaminants, hazardous materials, environmental compliance, condition, or in respect of any other matter or thing whatsoever concerning the property, save and except as expressly provided for in the Agreement; and,
b) the financing for this acquisition BE APPROVED as set out in the source of Financing Report attached hereto as Appendix “A”.
3. Offer to Purchase Industrial Land – 1666042 Ontario Inc. – Part of Block 5, Plan 33M-609 – Innovation Industrial Park Phase IV
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, with respect to the City-owned industrial land located in Innovation Park Phase IV, on the north east corner of Boyd Court, being composed of part of Block 5, Plan 33M-609, outlined on the sketch attached hereto as Appendix “B”, the offer submitted from Huffman Innovation under the corporate name 1666042 Ontario Inc. (the “Purchaser”), to purchase the subject property from the City, at a purchase price of $240,000.00 (reflecting a sale price of $80,000.00 per acre), attached hereto as Appendix “C”, BE ACCEPTED, subject to the following conditions:
a) the Purchaser be allowed, within ninety (90) days from acceptance of the offer, to examine title at the Purchaser’s own expense;
b) the Purchaser be allowed, within ninety (90) days from acceptance of the offer, to carry out soil tests as it might reasonably require; and,
c) the transaction to be completed within (120) days from acceptance of the offer.