Report to: Development Services Committee Date of Meeting:
SUBJECT: Town Transfer of Utility Easements to Enbridge Gas and Power Stream, Lindvest Properties (Cornell) Ltd., Phase 2
PREPARED BY:
RECOMMENDATION:
That the report entitled Town Transfer of Utility Easements to Enbridge Gas and Power Stream, Lindvest Properties (Cornell) Ltd., Phase 2, dated November 21, 2006 be received;
And that a by-law be enacted authorizing the Mayor and Clerk to execute the conveyance of easements to Enbridge Gas and Power Stream in a form satisfactory to the Town Solicitor over parts of Block 263, Plan 65M-3840, designated as Parts 4, 5 and 6, on a reference plan to be registered and Block 258, Plan 65M-3840, designated as Part 13 on the same reference plan to be registered.
And that such easements be subject to the following:
a)
A payment of $2,000.00 plus G.S.T. in total for
b)
A payment of $1,000.00
plus G.S.T. for Legal expenses plus disbursements (account #300 300 8899);
c) A payment of $10,000.00 representing the market land value of the easements and as compensation for the installation of underground utility infrastructure by Power Stream over Town owned Block 258 in support of the development of Lindvest Properties Phase 2 plan of subdivision.
And further that the $10,000.00
compensation payment be transferred to the Life Cycle reserve fund (account #
87 2800 200) to fund a future capital project for park improvements on Block
258.
FINANCIAL CONSIDERATIONS:
The proposed easements are on
lands that were transferred by Lindvest Properties
Ltd. to the Town under their Phase 1 subdivision agreement. It is recommended that the easements over the
Hwy 407 landscape Block 263 be conveyed to Enbridge
Gas and Power Stream for nominal consideration and the easement over parkland
Block 258 be conveyed to Power Stream for a financial payment of $10,000.00. In
addition, the applicant will submit a payment to the Town in the amount of $2,000.00
plus G.S.T. for
BUSINESS UNITS CONSULTED AND AFFECTED:
________________________ ________________________
Alan Brown, C.E.T. Jim Baird, M.C.I.P., R.P.P.
Director of