Report to/Rapport au :

 

Corporate Services and Economic Development Committee

Comité des services organisationnels et du développement économique

 

and Council/et au Conseil

 

14 July 2003/le 14 juillet 2003

 

Submitted by/Soumis par : Kent Kirkpatrick, General Manager/Directeur général,

Corporate Services Department/Services généraux

 

Contact/Personne ressource : D. H. McCaslin, Manager, Real Estate Services/

Gestionnaire, Services immobiliers

580-2424, ext. 22595, Douglas.McCaslin@ottawa.ca

 

 

Ref N°: ACS2003-CRS-RPR-0060

 

 

SUBJECT:

 

OBJET :

SALE OF LAND – 53 YOUNG STREET

 

VENTE DE TERRAIN – 53 RUE YOUNG

 

 

REPORT RECOMMENDATIONS

 

That the Corporate Services and Economic Development Committee recommend
Council:

 

1.             Declare a vacant parcel of land shown on Annex “A” attached, containing approximately 0.218 ha (0.54 acres), described as being part of Block D, Registered Plan 73, City of Ottawa, and shown as Part 1, Plan 5R-8356, as surplus to the City’s needs;

 

2.             Approve the sale of the land detailed in Recommendation 1, subject to any easements that may be required, to International Prosper Corporation, for the amount of $235,000.00, plus GST, pursuant to an Agreement of Purchase and Sale that has been received.              

 

RECOMMANDATIONS DU RAPPORT

 

Que le Comité des services organisationnels et du développement économique recommande au Conseil :

 

1.             de déclarer comme surplus aux besoins de la Ville une parcelle de terrain illustrée dans l’Annexe A ci-jointe et dont la superficie est d’environ 0,218 ha (0,54 acres), décrite comme faisant partie de la pièce D du Plan enregistré 73  de la Ville d’Ottawa et comme l’illustre la Section 1 du Plan 5R-8356;

 

2.             d’approuver la vente du terrain décrit dans la recommandation 1, sous réserve de toute servitude requise, à la International Prosper Corporation pour la somme de 235 000,00 $, taxes en sus, conformément à une entente d’achat et de vente reçue.

 

 

BACKGROUND

 

The subject property is a 0.54 acre parcel of vacant land, situated on the north side of Young Street, south of the Queensway between the north extensions of Loretta Avenue and  Champagne Avenue.  Municipally identified as 53 Young Street, the property is described as Part of Block D, Registered Plan 73, City of Ottawa, shown as Part 1, Plan 5R-8356.

 

The former Region of Ottawa-Carleton purchased the subject property in 1989 for the Champagne Arterial.  The Champagne Arterial has since been deleted from the Regional Official Plan.  As a result of the deletion of the Champagne Arterial from the Official Plan, a circulation was undertaken to determine if the land could be declared surplus to City requirements.    

 

 

DISCUSSION

 

The property has been listed for sale through Royal Lepage Commercial Inc. for several months.  The purchaser (International Prosper Corporation), through the offices of Royal Lepage Commercial Inc., has submitted an offer in the amount of $235,000.00 to purchase this property. The property is zoned IG[294] H(10,7) F(1.0), a General Industrial designation with a site specific exception.  This zoning designation allows for a variety of light industrial and commercial uses.  The sale is not subject to a rezoning.

 

The sale price is within the market value range established by an appraisal report.  The offer is considered fair and reasonable and is recommended for acceptance.

 

 

PUBLIC NOTIFICATION / CONSULTATION

 

In accordance with policies approved by City Council on 14 November 2001, the availability of the property was circulated to all client City Departments, including the Housing Branch, and Comprehensive Asset Management Division to determine if it should be retained by the City to be used in conjunction with any mandated program.  Neither the Housing Branch nor any City Department expressed interest in the property.  Local governments and external agencies were also circulated, but none expressed interest in acquiring the property.  The Ward Councillor was advised of the proposal and has no objections or concerns with staff’s recommendation.  A for sale sign was erected on the property, making it available to the general public.

 

 

FINANCIAL IMPLICATIONS

 

The sale of this property will result in revenue of $235,000.00 to the City. This revenue will be credited to Profit Centre 119909-407217.

 

 

ATTACHMENTS

 

Attached, as Annex "A" is a sketch showing the land to be sold.

 

 

DISPOSITION

 

Corporate Services Department -           Real Estate Services Division to finalize the

                      Agreement of Purchase and Sale.

 

Corporate Services Department -                 Legal Services Branch to finalize the road closing 

                                                                      and conveyance.

 

ANNEX A