Brownfield Grant Application – 2 Montreal Road and 3 Selkirk Street
ACS2023-PRE-PS-0028 - Rideau-Vanier (12)
Report recommendations
That Finance and Corporate Services Committee recommend Council:
Approve the Brownfield Redevelopment Grant application submitted by Riverain Developments Inc. and 2799338 Ontario Inc. (common name Main and Main), owner of the property at 2 Montreal Road and 3 Selkirk Street, for Rehabilitation Grant under the Brownfield Redevelopment Community Improvement Plan (2015), not to exceed a total of $3,648,235 for which the grant payment period will be phased over a maximum of ten years of development, subject to the establishment of, and in accordance with, the terms and conditions of the Brownfield Redevelopment Grant Agreement; the maximum deferral of Development Charges of $3,101,000 under the Development Charge Deferral Program; and the estimated contribution of $817,141 towards the Municipal Leadership Strategy fund;
Delegate the authority to the General Manager, Planning, Real Estate and Economic Development, to execute a Brownfield Redevelopment Grant Agreement with Riverain Developments Inc. and 2799338 Ontario Inc., establishing the terms and conditions governing the payment of the grant for the redevelopment of 2 Montreal Road and 3 Selkirk Street, to the satisfaction of the General Manager, Planning, Real Estate and Economic Development Department, the City Solicitor and the Chief Financial Officer.
In Camera Items
Notices of Motions (For Consideration at Subsequent Meeting)
Inquiries
Other Business
Adjournment
Next Meeting
Tuesday, 4 April 2023