HomeMy WebLinkAboutCAO-09-045 - Declaration of Surplus, Vacant Land & Sale to the Abutting Land Owner - 51 Pine StREPORT
REPORT TO:
Finance and Corporate Services Committee
DATE OF MEETING:
October 26, 2009
SUBMITTED BY:
Hans Gross, Director, Project Administration and Economic
Investment
PREPARED BY:
Rob Morgan, Capital Investment Advisor
WARD(S) INVOLVED:
Ward 1
DATE OF REPORT: October 13, 2009
REPORT NO.: CAO-09-045
SUBJECT:
DECLARATION OF SURPLUS, VACANT LAND AND SALE
TO THE ABUTTING LAND OWNER AT 51 PINE STREET
RECOMMENDATION:
“That the lands located on Pine Street, in the City of Kitchener, owned by the Corporation
of the City of Kitchener, described as Part 3 of Registered Plan 58R-5120, be declared
surplus to the City’s needs and sold to the Estate of Peggy Yurkiw, the owner of the
abutting property at 51 Pine Street; and further,
That the City of Kitchener enter into an Agreement of Purchase and Sale with the Estate
of Peggy Yurkiw, the owner of 51 Pine Street, for the conveyance of Part 3, Plan 58R-5120
for a price of $ 30,774.00 plus reimbursement of the City’s incidental costs pertaining to
this transaction, said agreement to be satisfactory to the City Solicitor; and further,
That the Mayor and Clerk be authorized to execute all documentation, satisfactory to the
City Solicitor, to convey Part 3, Plan 58R-5120 to the Estate of Peggy Yurkiw, the owner
of 51 Pine Street.”
REPORT:
The City owns Parts 2 and 3 of Plan 58R-5120 on Pine Street in Kitchener. Staff have been
approached by representatives of the owner of 51 Pine Street, the abutting property, who
wished to purchase both parts as an addition to their property. Their driveway is currently
located on Part 2.
The request was reviewed by the City’s Property Management team and it was determined that
we could sell Part 3 but not Part 2 as a pedestrian connection was still required to the sports
fields located at the rear of the subject property. In the event that Council agrees that the land
can be declared surplus, the purchaser must agree to remove the driveway from Part 2 and
relocate it onto Part 3.
Part 3 is 4.572 m wide and 40.234 m deep, 183.95 sq. m in area. The property is currently
vacant and essentially unimproved.
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The City’s Real Estate Service provider, Coldwell Banker Commercial Realty, was retained to
generate a value for the property and through this analysis a value of $6,730.97 per linear metre
of frontage was derived.
FINANCIAL IMPLICATIONS:
Total Value of the land to be sold:
$30,774.00
4.572 m x $6,730.97 =
ACKNOWLEDGED BY:
Rod Regier, Executive Director, Economic Development
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