HomeMy WebLinkAboutCRPS-07-017 - Surplus Declaration of Retail Lands - 290 & 310 King St EREPORT
Report To:
Date of Meeting:
Submitted By:
Prepared By:
Ward(s) Involved:
Date of Report:
Report No.:
Mayor Zehr and Members of Council
February 5, 2007
Lesley MacDonald, City Solicitor
Fiona M. McCrea
Assistant City Solicitor, Ext. 2266
Ward 1
January 30, 2007
CRPS-07-017
Subject: SURPLUS DESIGNATION OF RETAIL LANDS AT 290 & 310
KING ST. E. BEING PART LOT 12 "MARKED N. ZIEGLER"
PART LOT 18, NORTH OF KING & WEST OF CEDAR
STREETS, B. EBY'S SURVEY, REGISTERED PLAN 364
BEING PARTS 1,15,16, 27, 30, 36 & 39, 58 R-15060,
KITCHENER
RECOMMENDATION:
That the following lands and rights of easement be declared surplus to the City's needs for
purposes of sale to Barrel Works Market Shops Inc.:
Part Lot 12 "Marked N. Ziegler" and Part Lot 18, North of King and West of Cedar Streets, B.
Eby's Survey, Registered Plan 364 being Parts 1, 15, 16, 27, 30, 36 and 39, Reference Plan
58R-15060, subject to easements in favour of the City to the benefit of its abutting lands as
more particularly described in Schedule `A' attached to Report CRPS-07-017; and
To transfer appurtenant easements over abutting lands owned by the City being Part of Lots 18,
North of King Street and West of Cedar Street, B. Eby's Survey, Registered Plan 364
designated as Parts 1, 2, 3, 4, 7, 15, 16, 17, 25, 27, 28, 29, 30, 35, 36, 38, 39 and 40 on
Reference Plan 58R-15060 as more particularly described in Schedule `A' attached to Report
CRPS-07-017."
REPORT:
The lands to be declared surplus (the "Lands") are that portion of the Market Block lands
fronting on Cedar and King Streets being developed by Barrel Works Market Shops Inc.
(hereinafter "Barrel Works") as two retail/office buildings.
On or about March 20, 2002, the City of Kitchener entered into a Retail Component Purchase
Agreement with Barrel Works Kitchener Ltd. (which was assigned to Barrel Works Market
Shops Inc.). Barrel Works is purchasing a stratum of the lands immediately above the City's
Market Parking Garage with various easements created. The Lands will be subject to various
easements in favour of the City in respect of various supports, services, utilities and access for
the benefit of Your Kitchener Market. That portion of the Market Block owned by the City for
Your Kitchener Market and the Parking Garage will be subject to various easements to the
benefit of the Lands for various supports, services, utilities and access as more particularly
detailed in Schedule `A' to this Report.
All of the conditions to the completion of the sale transaction have now been met and Barrel
Works is now in a position to complete the purchase of the lands in accordance with the Retail
Component Purchase Agreement and Amendments thereto. Barrel Works wishes to complete
this transaction on or before February 9, 2007.
As the Lands are located within the Downtown Community Improvement Area, the City is
permitted to lease or sell lands in accordance with the goals and objectives of the Downtown
Community Improvement Plan. As a result no appraisal was conducted.
In order to complete the transaction it is necessary for the City to declare the Lands and
easements to be surplus to the City's needs as they have been integrated into the Market Block
development in accordance with the Development Agreement between the City and Barrel
Works.
FINANCIAL IMPLICATIONS:
Barrel Works will be paying the purchase price in accordance with the Retail Component
Purchase Agreement.
COMMUNICATIONS:
Notice of the intention to declare the Lands surplus has been given by way of listing on the
Council Agenda.
CONCLUSION:
The Lands must be declared surplus to the City's needs before they can be transferred to Barrel
Works in accordance with the Retail Component Purchase Agreement dated March 20, 2002
and Amendments thereto.
Fiona M. McCrea
Assistant City Solicitor
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