HomeMy WebLinkAboutCAO-11-013 - Listing Agmt Authorization - 35 Trillium Dr1
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Staff Report
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www.kitche~terca
REPORT TO: Committee of the Whole
DATE OF MEETING: June 13, 2011
SUBMITTED BY: Rob Morgan, Capital Investment Advisor,2734
PREPARED BY: Rob Morgan, Capital Investment Advisor,2734
WARD(S) INVOLVED: Ward 5
DATE OF REPORT: May 16, 2011
REPORT NO.: CAO-11-013
SUBJECT: Listing Agreement Authorization - 35 Trillium Drive
RECOMMENDATION:
That the Mayor and Clerk be authorized to execute the Listing Agreement with the City's
Real Estate Service Provider, Coldwell Banker Peter Benninger Realty, for the purposes
of selling 35 Trillium Drive; said Agreement to be to the satisfaction of the City Solicitor.
BACKGROUND/REPORT:
The two acre property is located on the north -west corner of the intersection of Huron Road
and Trillium Drive within the City's Huron Business Park. The property is zoned Restricted
Business Park Zone (B-2) with a Special Regulation related to the requirement of a Fill Permit
from the GRCA prior to any construction.
The lands were declared surplus March 30, 2009 as a result of the process review associated
with the Kitchener Operations' Centre. It was anticipated that the revenue from the sale of this
property would be utilized to offset the cost of the project.
The City attempted unsuccessfully to sell the property utilizing the tender process in April of this
year. The tender closed without any bids being received.
ALIGNMENT WITH CITY OF KITCHENER STRATEGIC PLAN:
The sale of surplus land relates to the foundation of Efficient and Effective Government as
defined in the City's Strategic Plan. The proceeds from the sale of the subject property will go
towards funding of the Kitchener Operations Facility. Thereby, supporting the goal contained in
the Financial Management section relating to the investment and management of assets
strategically.
FINANCIAL IMPLICATIONS:
N/A
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Staff Report
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www.kitchenerra
ACKNOWLEDGED BY: Rod Regier, Executive Director Economic Development
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