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Gee, the city coffers are raising a good amount of money from this development
Section 37 Contribution Upon confirmation from City Staff that the Settlement Plans would be recommended for approval to City Council, our client would agree to include a voluntary Section 37 cash contribution of $2,995,000.00, indexed from the date of execution of the Section 37 Agreement, payable prior to the issuance of the first above-grade building permit for the proposed development, as part of this without prejudice settlement offer. The sum of this contribution is to be allocated towards capital projects within the Yonge-Eglinton area, at the discretion of the Chief Planner and Executive Director, City Planning, in consultation with the Ward Councillor.
Section 42 Contribution Upon confirmation from City Staff that the Settlement Plans would be recommended for approval to City Council, pursuant to a meeting on March 28, 2019, with City of Toronto Real Estate Services arid Parks staff, our client would agree to an off-site parkland dedication at 51 Montgomery Avenue paired with an cash-in-lieu contribution of $4,447,340, indexed from the date of execution of the Section 37 Agreement, payable upon issuance of first above grade building permit, in satisfaction of application's Section 42 requirements.
Section 37 Contribution Upon confirmation from City Staff that the Settlement Plans would be recommended for approval to City Council, our client would agree to include a voluntary Section 37 cash contribution of $2,995,000.00, indexed from the date of execution of the Section 37 Agreement, payable prior to the issuance of the first above-grade building permit for the proposed development, as part of this without prejudice settlement offer. The sum of this contribution is to be allocated towards capital projects within the Yonge-Eglinton area, at the discretion of the Chief Planner and Executive Director, City Planning, in consultation with the Ward Councillor.
Section 42 Contribution Upon confirmation from City Staff that the Settlement Plans would be recommended for approval to City Council, pursuant to a meeting on March 28, 2019, with City of Toronto Real Estate Services arid Parks staff, our client would agree to an off-site parkland dedication at 51 Montgomery Avenue paired with an cash-in-lieu contribution of $4,447,340, indexed from the date of execution of the Section 37 Agreement, payable upon issuance of first above grade building permit, in satisfaction of application's Section 42 requirements.
