Land Exchange Agreement - Bank Street Renewal Project - City of Ottawa and National Capital Commission
File No. ACS2026-SI-HSI-0007 - City-wide
This report will be submitted to Ottawa City Council on April 8, 2026.
Report Recommendation(s)
That the Finance and Corporate Services Committee recommend that City Council approve a land exchange agreement (the “Agreement”) between the City of Ottawa and the National Capital Commission as follows:
Declare a portion of the property legally described as part of PIN 04145 0237, containing an area of approximately 1,370.2 square metres, more particularly described and shown as Parcel 1 on Schedule C-1 and a portion of the property municipally known as 2213 Riverside Drive, being part of PIN 04145-0233, containing an area of approximately 491.1 square metres, more particularly described and shown as Parcel 1 on Schedule C-2 attached (City Lands) as surplus to the City’s requirements.
Waive articles 2.3 and 5.1 of the Disposal of Real Property Policy and approve a direct transfer of the lands described in Recommendation 1 to the National Capital Commission.
Approve the acquisition of a fee simple interest in Lands owned by National Capital Commission shown as 12 parcels on Schedule D (NCC Lands), subject to final survey, having a market value of $2,300,640.20 less the amount of $11,439.96 paid under the Temporary License of Occupation for these parcels resulting in the total amount of compensation payable of $2,289,200.24 plus applicable tax and subject to final survey.
Approve the acquisition of easements shown as four parcels on Schedule D to the City, subject to final survey and easements that may be required, having a market value of $486,192.00 less the amount of $145,857.60 paid under the Temporary License of Occupation for these parcels resulting in the total amount of compensation payable of $340,334.40 plus applicable tax and subject to final survey.
Approve the disposal of the fee simple interest in the City lands described in Recommendation 1 for a total consideration of $3,365,230.40 plus applicable tax, and subject to final survey.
Authorize staff to undertake the process to close the public highway located on the Existing Ramp Lands (in the Agreement) and bring forward a Road Closure By-law as soon as reasonably practicable following the completion of construction and opening of the new road described on the NCC Fee Simple Lands.
Delegate authority to the Director, Housing Solutions, Real Estate and Investments, on behalf of the City, to enter into, conclude, execute, amend, supplement, implement, and take all steps required to close the transactions contemplated by the Agreement and Temporary License of Occupation, the Post-Closing License of Occupation and all other ancillary agreements contemplated therein with the NCC, as described in this report.
That this report be brought to the Council meeting of April 8, 2026, to ensure that Council approve the report prior to the National Capital Commission Board meeting, which will occur before the next Ottawa City Council meeting scheduled for April 22, 2026.
Delegation of Authority – Acquisition and Sale of Land and Property – 1 June 2025 to 31 December 2025
File No. ACS2026-SI-HSI-0006 - City-wide
Report Recommendation(s)
That the Finance and Corporate Services Committee receive this report for information.
In Camera Items
Cybersecurity Update Q1 – In Camera – Report Out Date: Not to be Reported Out
That, in accordance with Procedure By-law 2025-100, the Finance and Corporate Services Committee resolve to move In-Camera pursuant to Subsection 13(1)(a), to close part of a meeting to members of the public as the subject matter considered is “the security of the property of the City”, at which time a verbal update will be provided on cyber security and the external threat landscape, which is confidential and will not be reported out.
Notices of Motions (For Consideration at Subsequent Meeting)
Inquiries
Other Business
Adjournment
Next Meeting
Special Joint Meeting of the Finance and Corporate Services Committee (FCSC) and the Planning and Housing Committee (PHC) of April 10, 2026
Finance and Corporate Services Committee: Tuesday, 2 June 2026