HomeMy WebLinkAboutCRPS-08-161 - 56 Trillium Park Place - Release of Restrictive Covenants - Title Control (Section 5)REPORT
Report To: Committee of the Whole
Date of Meeting: October 27, 2008
Submitted By: Lesley MacDonald, Director of
Legal Services & City Solicitor
Prepared By: Lesley MacDonald, Director of
Legal Services & City Solicitor
Ward(s) Involved: WARD 3: FAIRWAY -GATEWAY -JOHN GAZZOLA
Date of Report: October 23, 2008
Report No.: CRPS - 08-161
Subject: 56 Trillium Park Place -Release of Restrictive Covenants -
Title Control (Section 5)
RECOMMENDATION:
"That, on October 1, 2008, the property described as Lots 15 - 17, Registered
Plan 1478, and municipally known as 56 Trillium Park Place, Kitchener, with the
exception of grading, substantially complied with the restrictions set out in
Schedule "A" to Instrument No.s #344769 #489327, #577150, #679781 and
#344769.
That the Mayor and Clerk be authorized to execute any documentation approved
by the City Solicitor to release all rights of the City relating to Title Control, set out
in Section 5 in the Schedule of restrictive covenants to the Deeds, registered as
Instrument No.s #344769, #489327, #577150, #679781 respecting the property
described as Lots 15 -17, RCP 1478, and municipally known as 56 Trillium Park
Place, Kitchener; and further
That the City Solicitor be authorized to electronically sign for completeness and
release any document required to be registered on title electronically.
BACKGROUND:
I am in receipt of a request from a solicitor for confirmation that the subject property complies
with the restrictions set out in Schedule "A" to Instrument No.s #344769, #489327, #577150,
#679781, being Deeds from the City of Kitchener.
-2-
REPORT:
The appropriate staff have reviewed the request and advise that they are unable to comment
with respect to the Title Control restrictions historically as our records do not contain the
information required to determine compliance; however, with the exception of grading, the
property currently complies with all remaining restrictive covenants. The Title Control
restrictions contain certain rights in favour of the City to approve certain transactions for a period
of 15 years which have expired and provides the City with the right to repurchase the property at
80% of the purchase price if construction of the building has not commenced and occupation
within two years of purchasing the property; construction has been completed.
Grading has not been approved for this property, however, the property currently complies with
the other restrictions set out in the restrictive covenants registered on title.
FINANCIAL IMPLICATIONS:
N/A
COMMUNICATIONS:
N/A
CONCLUSION:
In view of the fact that a building was constructed and the property is in substantial accord with
the restrictive covenants, I recommend that the City confirm compliance with the restrictive
covenants and release its rights relating to Title Control as set out in the Schedule "A" of
Instrument No.s #344769, #489327, #577150, #679781.
If Council enacts the above recommendation, it would be appreciated if the Clerk would forward
a certified copy of Council's resolution as well as the confirmatory by-law to me.
LESLEY MACDONALD, Director of
Legal Services & City Solicitor
/tr