- Apr 23, 2007
- Reaction score
- by the Humber
The Section 37 Bylaw is from January 2017, so negotiated in 2016, too early for Rail Deck Park.I hope that the City hasn't missed the incredibly obvious opportunity to have The Well fund the part of RailDeck park that's in front of it.
The cash in lieu of parkland comes after the actual parkland the City is getting from this development, which are the properties at 19 Draper and 456 Wellington West. The number that was determined to cover the discrepancy (between the 10% of land required and what was actually provided) was $2M. The City is going to use that for the construction costs of the two parks.The cash in lieu of parkland alone that this project is generating must be a huge number. Does anyone know what the Section 37 contributions are funding?
$13M plus the $2M park in lieu plus the land for the 2 parks. The developers have had 19 Draper for a long time I believe, but can anyone look up what they paid for the 456 Wellington property recently?that isn't actually that much section 37 given the scale of the project.