My point is they are not giving much for all the almost free publicity they get for appearing to be such great benefactors.
Dont forget Section 37 of the City Planning Act.
Before introducing the necessary Bills to City Council for enactment, City Council require
the owner of the lands at 9-21 Grenville Street to enter into an
Agreement pursuant to
Section 37 of the Planning Act, to be registered on title, to the satisfaction of the City
Solicitor, to secure the following:
a. Prior to the issuance of the first above-grade permit, pay to the City the sum of
$1,800,000 consisting of $950,000 towards improvements to the College Subway
station and Wellesley Subway station, $500,000 towards the upgrade of St. Luke
Lane and $350,000 towards widening the sidewalks on Grenville Street and Wood
Street.
b. Require that the cash amounts identified in a) above shall be indexed annually in
accordance with the Non-Residential Construction Price Index for the Toronto CMA,
reported quarterly by statistics Canada in Construction Price Statistics Publication
No. 62-007-XPB, or its successor, calculated from the date of execution of the
Section 37 Agreement to the date of submission of the funds by the owner to the
City.
c. A public art contribution in accordance with the Percent for Public Art Program for a
value not less than one percent of the gross construction cost.
The following matters are also recommended to be secured in the Section 37 Agreement as
a legal convenience to support the development:
More,,,,,,,,,,,,,,,,,
http://www.toronto.ca/legdocs/mmis/2011/te/bgrd/backgroundfile-41026.pdf
Also dont forget the city required that
8. The owner shall provide a minimum of ten percent (10%) of the residential
units in the building having at least three bedrooms.