HomeMy WebLinkAboutDSD-20-156 - Land Sale - Ottawa Street Right of WayREPORT TO: Community & InfrastructureServices Committee
DATE OF MEETING: October 19, 2020
SUBMITTED BY: Brian Bennett, Manager, Business Development, 519-741-2200 X 7230
PREPARED BY: Rob Morgan, Capital Investment Advisor/Brownfield Co-ordinator,
519-741-2200 x7734
WARD (S) INVOLVED: Ward 5
DATE OF REPORT:September 9, 2020
REPORT NO.: DSD-20-156
SUBJECT: Land Sale – Ottawa Street Right of Way
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RECOMMENDATION:
That the Mayor and Clerk be authorized to execute aconditionalAgreementof Purchase
and Salewith Kitchener Trussler Holdings Inc.for their acquisition of the City’s remnant
piece of the Ottawa Street South road allowance having an area of approximately 2.21
acres, at a purchase price of $884,000.00, subject to the City’s conditions, and that the
subject road allowance beclosed anddeclared surplus to the City’s needs; said
agreement to be to the satisfaction of the City Solicitor; and further,
That the Mayor and Clerk be authorized to execute all documentation required to
complete the transaction, said documentation to be to the satisfaction of the City
Solicitor.
BACKGROUND:
The City was approached by a development company Kitchener Trussler Holdings(KTH) that owns the
land on both sides of theCity’s remnant piece of the Ottawa St road allowanceRight of Way (ROW).
KTHwould like to consolidate the parcels to form a contiguous land parcel to allow for the development
of acomprehensiveresidential subdivision with a mixed-use component.
The developer’s lands to the south, shown on the attached plan, also contain a house that Heritage
Kitchener has requested be retained and designated under the Heritage Act. The developer is working
with our Heritage Planner to facilitate same.
The subject site as well as the potential purchaser’s lands are designated Mixed Use in the City’s
Official Plan and are currently zoned Agricultural A-1.KTH will be required to apply for a zone change
to completethe Plan of Subdivision registration.
The request to purchase the City lands was circulated to the City’s Property Management Team as well
as the Regionand no objections to the sale of the landwere raised.
*** This information is available in accessible formats upon request. ***
Please call 519-741-2345 or TTY 1-866-969-9994for assistance.
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Conditions:
The sale of the property is subject to the following conditions:
1.Ifthe Purchaser does not complete the plan of subdivision within 5 yearsof the closing of
this transaction, the City reserves the right to repurchase the subject lands at 90% of the
purchase price.
2.That the subject land is not to be resold prior to the registration of the plan of subdivision.
Land Value
The purchase price of $884,000.00 is fair market value for the subject parcel of land based on
an appraisal secured by the City.
ALIGNMENT WITH CITY OF KITCHENER STRATEGIC PLAN:
The recommendation of this report supports the achievement of the city’s strategic vision through
the delivery of core service.
FINANCIAL IMPLICATIONS:
The proceeds from the transaction will be deposited into the Land Reserve Account.
COMMUNITY ENGAGEMENT:
INFORM – This report has been posted to the City’s website with the agenda in advance of the
council / committee meeting.
ACKNOWLEDGED BY: Justin Readman, General Manager, Development Services
Department
Enclosures: Property location
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Property Location:
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