HomeMy WebLinkAboutCAO-16-033 - Surplus and Sale of 345 King St WStaff Report
I r rc.� ► t .R finance and (orporate Services Department wmkitchener ca
REPORT TO: Committee of the Whole
DATE OF MEETING: November 21, 2016
SUBMITTED BY: Brian Bennett, Manager Business Development,
519-741-2200 Ext 7230
PREPARED BY: Brian Bennett, Manager Business Development,
519 -741-2200 Ext 7230
WARD(S) INVOLVED:9
DATE OF REPORT: October 27, 2016
REPORT NO.: CAO — 16 -033
SUBJECT: Declaration of Surplus and the Sale of 345
King St W
RECOMMENDATION:
The .36 acre parcel of land owned by the City of Kitchener located at
345 King St W depicted on the map (Schedule A) attached to CAO -
16 -033 Report, and to be further described on a reference Plan to be
prepared in the future, be declared surplus to the City and offered
for sale through a Request For Proposals.
REPORT:
The City has received numerous formal and informal individual expressions
of interest from parties interested in purchasing, and/or developing the
property located at 345 King St W, which is currently operating as a
municipal parking lot. Accordingly, in order to ensure a transparent and
competitive process, the City will be issuing a Request For Proposals (RFP) to
purchase this site. Proposals will be evaluated based on Council approved
plans.
*** This information is available in accessible formats upon request. ***
Please call 519-741-2345 or TTY 1-866-969-9994 for assistance.
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The 2009 Long -Term Parking Strategy identified the opportunity for private
sector redevelopment of the City's downtown properties, which would
include surface parking lots. These new developments will create
opportunities for people to work and live downtown, while supporting
existing and new retail and restaurant spaces.
The Downtown Action Plan 2012-2016 which has been approved by Council
indicates "An Asset -Based Approach, which includes as part of this new
approach, the City will begin to explore opportunities to use its land assets
as the primary means for creating new major assets and catalysts".
Parking is and
will continue to be an essential need in the downtown.
Currently, 345
King St W provides surface parking for 33 monthly pass
holders and has 10 hourly spots available for short-term parking.
Recognizing the importance of parking in the area, if the use of this property
as a municipal
parking lot ceases, the City will create approximately 49
hourly parking
spaces within the vicinity, an increase from the current 10
hourly parking
spaces. To accomplish this approximately 15 hourly parking
spaces will be
created along Bell's Lane and 34 hourly spaces created in
Hall's Lane by
conversion of monthly parking spaces to hourly availability.
There are also
15 on street parking spaces in the 300 block of King St. As
part of the RFP
process, any new development at 345 King St W will require
public access from King St to Hall's Lane, as well as incorporate structured
parking, which
must be accessible to the public outside of business hours.
Monthly parking will be accommodated in other lots in the area.
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.
FINANCIAL IMPLICATIONS:
The sale proceeds will be deposited into the Economic Development Reserve
in accordance with Council Policy to invest in parking assets in the future.
COMMUNITY ENGAGEMENT:
INFORM: This report is posted publically with the agenda prior to Committee
meeting. The Request For Proposals will be posted publically, and
interested parties will have the ability to submit a proposal for consideration.
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ACKNOWLEDGED BY: Jeff Willmer, CAO
Enclosures:
Schedule A: Map of 345 King St W.
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