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 of London’s Industrial Land Development Strategy, the following actions be taken with respect to the annual monitoring and pricing of City-owned industrial lands:
a) the proposed by-law appended to the staff report dated July 17, 2018 as Appendix “A” BE INTRODUCED at the Municipal Council meeting to be held on July 24, 2018 to amend By-law No. A.-6151-17, as amended, being “A by-law to establish policies for the sale and other disposition of land, hiring of employees, procurement of goods and services, public notice, accountability and transparency, and delegation of powers and duties, as required under section 270(1) of the Municipal Act, 2001” by deleting Attachment “B” to Schedule “A” – Sale and other Disposition of land Policy of the By-law and by replacing it with a new Attachment “B” to Schedule “A” to amend the current pricing for City-owned serviced industrial land in Innovation Park, Skyway Industrial Park, River Road Industrial Park, Cuddy Boulevard Parcels and Trafalgar Industrial Park as follows:
Innovation Park, Skyway Industrial Park, River Road Industrial Park, and Cuddy Blvd Parcels:
- Lots up to 3.99 acres from $75,000 per acre to $80,000.00 per acre
- 4.00 acres and up from $65,000 per acre to $70,000.00 per acre
Pricing for serviced industrial land in Trafalgar Industrial Park:
- All lot sizes – from $55,000 per acre to $65,000.00 per acre;
b) the staff report dated July 17, 2018 entitled “Industrial Land Development Strategy Annual Monitoring and Pricing Report – City-Owned Industrial Land”, BE RECEIVED.