HomeMy WebLinkAboutCAO-11-021 - Declaration of Surplus Land and Sale - Mill St, IrS~r~~'Re~p~rt
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REPORT TO: Finance and Corporate Services Committee
DATE OF MEETING: September 26, 2011
SUBMITTED BY: Rod Regier, Executive Director, Economic Development
PREPARED BY: Rob Morgan, Capital Investment Advisor, X2734
WARD(S) INVOLVED: 9
DATE OF REPORT: September 6, 2011
REPORT NO.: CAO- 11-021
SUBJECT: Request to Declare Surplus to City's Needs and conveyance
of the lands -Mill Street/ Iron Horse Trail
RECOMMENDATION:
That the Corporation of the City of Kitchener's lands located along the southerly
boundary of 19- 37 Mill Street, adjacent to the Iron Horse Trail, to be further described on
a Reference Plan, be declared surplus to the City's needs and sold to the abutting
property owner for fair market value; and further
That the Mayor and Clerk be authorized to execute the necessary documentation to effect
this transaction with the property owner, said documentation to be to the satisfaction of
the City Solicitor.
BACKGROUND:
The owner of 19-37 Mill Street, Polocorp Inc., has expressed an interest in purchasing the
subject City owned lands to add to their property for future development purposes. The
triangular City owned parcel is approximately 850 square metres with the exact size to be
determined upon completion of the Reference Plan.
REPORT:
The property owner wishes to purchase the triangular piece of City owned land, currently zoned
Commercial Residential 1 (CR-1), with the intent to create a larger development envelope for
their proposed five to six story 62 unit multiple dwelling.
The addition of the land would allow the developer to create additional parking as well as
increasing the landscaped area. It would also allow for a cleaner, more contiguous boundary
between the residential properties and the trail. The current boundary jogs in behind 19-29 Mill
Street creating a catchment area for garbage.
The potential land sale has been discussed by the City's Property Management Team and it
was agreed that the lands had no significant community value and therefore could be sold,
should Council wish to declare it surplus.
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In the event that Council approves the recommendation, the City will obtain a valuation of the
land and Reference plan, both at the purchaser's expense.
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ALIGNMENT WITH CITY OF KITCHENER STRATEGIC PLAN:
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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 this parcel will be placed in
the City's Asset Management Account. Thereby supporting the goal contained in the Financial
Management section relating to the investment and management of assets strategically.
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FINANCIAL IMPLICATIONS:
It is recommended that the proceeds from this transaction be placed in the City's Park Trust
Fund.
COMMUNITY ENGAGEMENT:
N/A
ACKNOWLEDGED BY: Rod Regier, Executive Director, Economic Development
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