HomeMy WebLinkAboutCAO-09-032 - Centre Block Development ProposalREPORT T0: Development and Technical Services Committee
DATE OF MEETING: May 25, 2009
SUBMITTED BY: Rod Regier, Executive Director, Economic Development
PREPARED BY: Rod Regier, Executive Director, Economic Development
WARD(S) INVOLVED: All
DATE OF REPORT: May 21, 2009
REPORT NO.: CAO-09-032
SUBJECT: CENTRE BLOCKAGREEMENT OF PURCHASE AND SALE
RECOMMENDATION:
That the recommendation to execute an Agreement of Purchase and Sale with Andrin
Investments Limited for the sale of the Centre Block lands (Chief Administrator's Office report
CAO-09-025), referred to the May 25, 2009 special Development and Technical Services
Committee meeting be referred to the June 15, 2009 Council meeting, and further;
That the City Solicitor be authorized to extend the Letter of Intent with Andrin Investments
Limited to J u ne 19, 2009.
BACKGROUND:
At the regular meeting of April 27, 2009, Council adopted the recommendation of the Finance
and Corporate Services Committee to refer consideration of the Agreement of Purchase and
Sale with respect to the Centre Block lands, to the May 25, 2009 special meeting of the
Development and Technical Services Committee.
REPORT:
Negotiations in accordance with the direction given by Council in-camera are still ongoing and
therefore it is appropriate that this matter be further deferred to a subsequent Council meeting.
A deferral of this matter to allow the negotiations with Andrin Investments Limited to continue
and the Agreement of Purchase and Sale to be completed is in the best interest of the City.
ACKNOWLEDGED Rod Regier
BY: