That Transportation Committee
recommend Council approve:
1) The fee simple
acquisition of a vacant parcel of land required for a Park and Ride facility
consisting of approximately 4.91 hectares (12.1285 acres) owned by Northtech
Land Development Inc., described as Part of Block 4, Registered Plan 4M-1104,
geographic Township of March, City of Ottawa, shown as Parcels 1 and 2 on
attached Document 1, for the consideration of $5,700,000, plus applicable
taxes related to the transaction subject to final survey and adjustments on
closing;
2) A three (3) year option
to purchase back part of the lands as outlined in Recommendation 1, to
Northtech Land Development Inc., as set forth in the Discussion section of
this report;
3) Should Northtech Land
Development Inc. exercise its proposed option to purchase back land as
provided for in Recommendation 2, all monies from the sale should be credit
back into the appropriate Park and Ride account.
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