HomeMy WebLinkAboutCRPS-07-033 - Request for Liquor Licence - Holy Spirit Festival Association of K-Wi
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REPORT
Report To: Finance & Corporate Services Committee
Date of Meeting: June 18, 2007
Submitted By: Rod Regier, Executive Director of Economic Development
Prepared By: Terry Boutilier, Senior Business Development Officer and
Brownfield Coordinator - 741-2303
Ward(s~ Involved: Ward 4 -South
Date of Report: June 12, 2007
Report No.: CAO-07-033
Subject: SALE OF PART LOT 12 RCP 1471 being Parts 16 and 29 on
Plan 58R-7426 IN THE HURON BUSINESS PARK -155
WASHBURN DRIVE
RECOMMENDATION:
That Council accept the Offer to Purchase from Eastforest Homes Ltd. for Part 16 and
Part 29 of Plan 58R-7426, being a parcel of land in the Huron Park Business Park -Phase
III, having an area of approximately 1.84 acres at a price of $195,000 per acre, for a total
purchase price of $358,559.00; and
That the Mayor and Clerk be hereby authorized to execute any other necessary
documentation required by the City Solicitor to complete the sale transaction.
BACKGROUND:
Site 147 is the last parcel of City-owned land in the Huron Business Park. It is approximately
1.84 acres is size and zoned B2 (Business Park). In May of 2006 the City re-purchased this
parcel at a rate of $80,000 per acre from the previous purchaser who did not proceed with
original construction plans. As outlined previously in Staff Report CAO-06-016, re-acquisition
and the re-sale by the City of Kitchener (@ $195,000 per acre) results in increased cash flow of
$211,600. to the City of Kitchener.
REPORT:
The City has received an offer to purchase from Eastforest Homes Ltd. for Part 16, and Part 29
of Reference Plan 58R-7426 in the Huron Business Park -Phase III. Eastforest Homes is
located on the adjacent lands at 139 Washburn Drive. Eastforest Homes Ltd. plans to expand
the uses of its current Head Office to accommodate the growth of their home-building industry.
Covenants require a minimum building size of 24,000 square feet, to commence within one year
of closing of the Offer. They propose to construct a 30,000 square foot building to include
offices, a new home customer-service centre and storage of materials and equipment.
The property is subject to site plan control through a Section 41 Development Agreement.
Elevation drawings will be reviewed and approved in accordance with the site plan approval
process.
The proposed closing date is August 22, 2006.
A buy back option is included if the purchaser does not commence construction within one year
from the date of closing, or if the building is not completed and occupied within two years. The
City will refund without interest, 90% of the purchase price. There is a provision to allow the
opportunity for a one year extension at the start and completion dates of construction, subject to
an additional 10% deposit.
The City Solicitor has reviewed the Offer to Purchase.
FINANCIAL IMPLICATIONS:
1.8387 acres ~ $195,000/acre = $358,559
COMMUNICATIONS:
No public consultation has been undertaken.
CONCLUSION:
This proposed development will provide Eastforest Homes Ltd. with room for head office
expansion in the City of Kitchener to better serve customers.
Terry Boutilier,
Kathy Weiss
Senior Business Development Officer Director, Business Development
Rod Regier,
Executive Director, Economic Development
Attachments:
Appendix "A" -Huron Business Park Location Map
Cc: Carla Ladd, CAO
Lesley MacDonald, Director of Legal Services
Fiona McCrea, City Solicitor