WHEREAS a portion of the Wellington Street West right of way between Garland Street and Hilda Street fronts on the existing Somerset Square Park; and
WHEREAS the Site Plan Control approval for the properties located at 961-979 Wellington Street West and 26-40 Armstrong Street indicate in a landscape plan that the Wellington Street West right of way between Hilda and Garland is to be regraded and repaved at the developer’s own cost, along with other improvements per an approved landscape plan for the site; and
WHEREAS the owners of the properties are subject to the fees outlined in Encroachment By-law 2003-446, in order to stage construction equipment in the Wellington Street ROW for the duration of construction; and
WHEREAS the subject fees are estimated to result in up to $550,000 of operational revenue; and
WHEREAS the Wellington Street West Community Design Plan design vision, objectives, and policies underscore the protection and uniqueness of Somerset Square Park as a public space in the community; and
WHEREAS the developer is providing $250,000 in funds towards the improvement of Somerset Square through a Section 37 agreement; and
WHEREAS subsequent to the approval of the planning application it has been determined that the interaction of the streetscaping in front of the development and Somerset Square should be reviewed more holistically to determine in consultation with the community and the Business Improvement Association if there is a greater place- making opportunity; and
WHEREAS this additional design work and any potential project implementation costs is an unfunded proposition; and
WHEREAS the estimated $550,000 of operational revenue may be considered for reallocation to fund improvements to the right-of-way subject to Council approval;
THEREFORE BE IT RESOLVED that all temporary construction encroachment fees collected in association with the development, estimated to be approximately $550,000, be directed to a deferred revenue account along with the Section 37 funds, to fund the design and implementation of enhanced public realm improvements in and around Somerset Square; and
THEREFORE BE IT FURTHER RESOLVED that once sufficient revenue from temporary construction encroachment fees and Section 37 funds has been received to commence the project, a new internal account will be set up for the design and implementation of enhanced public realm improvements in and around Somerset Square with funding from the temporary construction encroachment fees to be limited to expenditures on lands within the right-of-way; and
THEREFORE BE IT FURTHER RESOLVED that at the conclusion of these works any residual temporary construction encroachment revenue in the internal order be returned to Planning, Real Estate and Economic Development Department general revenues.