HomeMy WebLinkAboutCRPS-05-091 - Offers to Purchase - Proposed Land Exchange - City, JHS Prop. & GRCA (Pioneer Ridge)
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Report To:
Date of Meeting:
Submitted By:
Prepared By:
Ward(s) Involved:
Date of Report:
Report No.:
Subject:
Mayor Zehr and Members of Council
May 9, 2005
Fiona M. McCrea, Assistant City Solicitor
Jeff Willmer, Directo of Planning
Fiona M. McCrea, Assistant City Solicitor
Ward 3
May 9, 2005
CRPS-05-091
PROPOSED LAND EXCHANGE BETWEEN CITY OF
KITCHENER, JHS PROPERTIES AND GRCA (PIONEER
RIDGE)
RECOMMENDATION:
That the Mayor and Clerk be authorized to execute an offer to purchase from the Grand
River Conservation Authority and an offer to Purchase from JHS Properties Inc., and all
other required documentation to complete the transactions, on terms and conditions
satisfactory to the City Solicitor, to effect a land exchange that will result in the
conveyance of the portion of the Pioneer Ridge lands on which the Schoerg Barn
foundation is located to the City of Kitchener. The purchase monies are to be
allocated from the Asset Management Reserve Fund.
REPORT:
Further to Council's instructions staff have negotiated with the Grand River
Conservation Authority and JHS Properties Inc. a proposed land exchange that will
result in that portion of the Pioneer Ridge on which the Schoerg Barn foundation is
located coming into public ownership so that the cultural heritage landscape may be
preserved. All of the lands involved in the proposed land exchange have been
appraised at fair market value and the consideration being paid for the lands is within
the range of the appraised values.
Once the offers to purchase are executed by all parties the transactions contemplated
therein can proceed to completion following approval.
FINANCIAL IMPLICATIONS:
The consideration for the lands to be acquired is to be satisfied through the payment of
cash in the amount of $250,000.00 and transfer of title to the lands to be acquired
pursuant to the offers and other lands owned by the City, plus $10,000.00 in transfer
costs.
Fiona M. McCrea
Assistant City Solicitor
Jeff Willmer
Director of Planning