HomeMy WebLinkAboutCAO-12-024 - Acquisiton of Land for Road Reconstruction - MillREPORT TO:Finance and Corporate Services Committee
DATE OF MEETING:
May 28, 2012
SUBMITTED BY: Rod Regier, Executive Director of Economic Development
PREPARED BY:
Rob Morgan, Capital Investment Advisor, 519-741-2734
WARD(S) INVOLVED: Ward 9
DATE OF REPORT: May 2, 2012
REPORT NO.:
CAO-12-024
SUBJECT:
Acquisition of Land For Road Reconstruction – Mill Street
RECOMMENDATION:
That the Mayor and Clerk be authorized to execute the Agreements of Purchase and Sale
and any other related documentation required to purchase three separate parcels of land
located on Mill Street, more specifically described as Parts 2, 3 and 4 on Reference Plan
58R 17393; said documents to be satisfactory to the City Solicitor.
BACKGROUND/ REPORT:
The reconstruction of Mill Street from Queen Street East to Stirling Avenue South includes
intersection improvements at Stirling Avenue South. The acquisition of portions of the property
at 213, 217, and 221-223 Mill Street will allow for the construction of a dedicated south bound
left turn lane on Mill Street and for the realignment of the intersection. These intersection
improvements will promote enhanced traffic flow, providing a reduction in idling vehicles, and
decrease the potential for vehicular conflicts by providing increased sight lines.
The land required had been valued by the City’s Real Estate Service Provider as follows:
PropertyLand to be acquired ZoningValue
sq. ft.
213 Mill St 297 sq. ft. R-5$3104.00
217 Mill St 406 sq. ft. R-5$4870.00
221-223 Mill St 1376.7 sq. ft. C-1$19,976.00
The City is also responsible for the costs associated with the Reference Plan, Real Estate Fee
and Legal Fees in the amount of $5700.00
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FINANCIAL IMPLICATIONS:
All costs associated with this project have been accounted for within the Capital Budget
for this project.
Total costs for the acquisition of the three parcels: $33,650.00.
ACKNOWLEDGED BY:
Rod Regier, Executive Director Economic Development
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