Report dated June 23, 2016 from the Commissioner of Planning and Building re: Section 37 Community Benefits Report (Ward 7) 24-64 Elm Drive West and 3528- 3536 Hurontario Street, south side of Elm Drive West, between Kariya Drive and Hurontario Street, Owner: Solmar Inc. and D.W. Elm Holdings Ltd. File OZ013/022 W7.
That the Report dated June 23, 2016 from the Commissioner of Planning and Building re: Outlining the recommended Section 37 Community Benefits under OZ 13/022 W7, Solmar Inc. and D.W. Elm Holdings Ltd., 24-64 Elm Drive West and 3528-3536 Hurontario Street be adopted, and that a Section 37 agreement be executed in accordance with the following:
1. That the sum of $3,020,000.00 be approved as the amount for the Section 37 Community Benefit contribution.
2. That provision be made in the agreement to allow the payments to be made in three phases as follows: • $1,020,000.00 to be paid prior to the adoption of the Zoning By-law; • $1,000,000.00 to be paid prior to the first building permit issuance for Phase 2; • $1,000,000.00 to be paid prior to the first building permit issuance for Phase 3, and; • All outstanding monies to be paid in Phases 2 and 3 are to be indexed for inflation in accordance with the Statistics Canada Building Construction Price Index.
3. That the City may direct Solmar to provide a portion of the community benefit contribution in the form of actual construction of the community benefits as opposed to a cash contribution through a further amendment to the Section 37 agreement.
4. That City Council enact a by-law under Section 37 of the Planning Act to authorize the Commissioner of Planning and Building and the City Clerk to execute the Section 37 agreement with Solmar Inc. and D.W. Elm Holdings Ltd., and that the agreement be registered on title to the lands in a manner satisfactory to the City Solicitor, to secure the community benefits contribution.
Owner: Solmar Inc.