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That the report entitled “Authority to Provide Development Charge Credits and/or Reimbursements for the Construction of Trunk Sanitary Sewer and Bruce Creek Crossing in York Downs Subdivisions, to KM (AG SOUTH VILLAGE) LTD. and Metropia Minto (Sixteenth) Holdings Inc. (Ward 6)” be received; and,
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That Council authorize an Area-Specific Development Charge Credit and/or Reimbursement not exceeding $444,999 to KM (AG SOUTH VILLAGE) LTD. for the design, contract administration, and construction costs of a trunk sanitary sewer from Angus Glen Boulevard to the South Village Subdivision (York Downs – West Plan) within an easement (the “Sewer within the Easement”) that will service the York Downs lands and lands external from the Future Urban Area (the “FUA”); and,
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That Council authorize an Area-Specific Development Charge Credit and/or Reimbursement not exceeding $1,952,274 to KM (AG SOUTH VILLAGE) LTD. for the design, contract administration, and construction costs of a trunk sanitary sewer from the South Village Subdivision (north end) to the connection to Street ‘C’ (upstream limit of the YDSS Connection) ( the “Trunk Sanitary Sewer”) that will service the York Downs lands and lands external from the FUA; and,
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That Council authorize an Area-Specific Development Charge Credit and/or Reimbursement not exceeding $5,850,273 to KM (AG SOUTH VILLAGE) LTD. and Metropia Minto (Sixteenth) Holdings Inc. for the construction of the connection of the Trunk Sanitary Sewer to the YDSS (the “Connection to YDSS”) that will service the York Downs and the FUA; and,
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That Council authorize City Wide Hard Development Charge Credits and/or Reimbursements not exceeding $852,726 to KM (AG SOUTH VILLAGE) LTD. for the oversizing cost associated with a trunk sanitary sewer within the South Village Subdivision (north end to Street ‘C’ (upstream limit of the YDSS connection)) (the “Trunk Sanitary Sewer”) that will service the lands external from the FUA; and,
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That Council authorize City Wide Hard Development Charge Credits and/or Reimbursements not exceeding $11,710,430 to KM (AG SOUTH VILLAGE) LTD. and Metropia Minto (Sixteenth) Holdings Inc. for the design, contract administration, construction, and maintenance until assumption costs associated with the construction of a bridge crossing the Bruce Creek (the “Bruce Creek Crossing”) for the east-west collector (Street A) in the York Downs Subdivision; and,
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That notwithstanding the above recommendations, that the amount available for credits and/or reimbursements be based on the lesser of the actual cost to construct and the capital cost included in the most current Development Charges Background Study, as indexed from time to time, at the time works are complete and the credits and/or reimbursements are being provided; and,
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That the letter of credit(s) to secure the trunk sanitary sewer and bridge are to be to the satisfaction of the Director of Engineering and Treasurer; and,
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That the Mayor and Clerk be authorized to execute a Development Charge Credit and/or Reimbursement Agreements, if required, in accordance with the City’s Development Charge Credit and Reimbursement Policy, with the KM (AG SOUTH VILLAGE) LTD. and Metropia Minto (Sixteenth) Holdings Inc., or their successors in title to the satisfaction of the Treasurer and the City Solicitor, or their respective delegates; and,
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That Council authorize the Mayor and Clerk to execute a Construction Agreement with the Owner/Trustee as necessary, to allow for the construction of the subject Trunk Sanitary Sewer and the subject Bruce Creek Crossing; and,
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That all of the above credits and/or reimbursements shall exclude HST and interest and shall be indexed in accordance with the City’s Development Charge Credit & Reimbursement Policy; and further,
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That Staff be authorized and directed to do all things necessary to give effect to this resolution.