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HomeMy WebLinkAboutKIN 89 063 Defeated . . THE CORPORATION OF THE TOWN OF KINCARDINE BY-LAW NO. 1989-63 A BY-LAW TO AUTHORIZE THE EXECUTION OF A PAYMBNT-IN- LIEU OF PARKING AGREEMENT WITH SANDOON HOLDINGS INC. CONCERNING SUBDIVISION LOT 8 AND 7 OF LOT 8, PLAN 61, NORTH SIDE OF DURHAM STREET, TOWN OF KINCARDINE, COUNTY OF BRUCE WHEREAS the Council for The Corporation of the Town of Kincardine deems it expedient to enter into an agreement with Samdoon Holdings Inc. concerning the property described as subdivision Lot 8 and 7 of Lot 8, Plan 61, north of Durham Street, Town of Kincardine, County of Bruce; NOW THEREFORE the Council for The Corporation of the Town of Kincardine ENACTS as follows: 1. The mayor and clerk are hereby authorized to execute, on behalf of The Corporation of the Town of Kincardine, the attached agreement with Samdoon Holdings Inc. concerning the property described as the subdivision Lot 8 and 7 of Lot 8, Plan 61, north side of Durham Street, Town of Kincardine, County of Bruce and Part of Lot 1, west side of Queen Street in that part of the Town of Kincardine formerly known as Williamsburg now according to Plan 4. 2. This by-law shall come into full force and effect upon its final passage. READ a FIRST and SECOND TIME this 1st 1989. day of June , ~ð9~, Mayor READ a THIRD time and FINALLY PASSED this 1989. DEFEATED ON THIRD AND FINAL READING JUNE 15, 1989 day of , Mayor Clerk /' ú>3 ~-........... t . ~ THIS AGREEMENT made in duplicate this day of 1989 BET WEE N: SAMDOON HOLDINGS INC. OF THE FIRST PART hereinafter called the Owner -AND- THE CORPORATION OF THE TOWN OF KINCARDINE OF THE SECOND PART hereinafter called the Town WHEREAS the Owner is the owner in fee simple of the lands described in Schedule "A" attached hereto; AND WHEREAS as a condition precedent to the Town approving a Site Plan and the issuing of a building permit, an agreement regarding parking facilities is required; NOW THEREFORE THIS AGREEMENT WITNESSETH that in consideration of the premises and other good and valuable consideration and the sum of ONE DOLLAR (1.00) and the material covenants and undertakings herein contained, the parties hereto agree as follows: 1. The Owner shall pay to the Town the sum of $3,500.00 in consideration of the Town granting a reduction of seven parking spaces on the land referred to in Schedule "A" attached hereto. The basis on which the payment of $3,500.00 has been calculated is set out in Schedule "B" attached hereto. 2. The Owner covenants and agrees to pay the Town the amount set out in paragraph 1 on the signing of this Agreement. 3. The word "Owner" and the words "he" or "his" where used in this Agreement and in addition to its accepted meaning, shall mean and include an individual, an associate, a partnership or incorporated company whenever the singular is used herein it shall be construed as including the plural, and whenever the masculine is used herein it shall be construed as including the feminine. 4. IN WITNESS WHEREOF the Town and the Owner have hereunder affixed their corporate seals and attested by the hands of their duly authorize officers. IN THE PRESENCE OF ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) Secretary - Charles. M. Palmer THE CORPORATION OF THE TOWN OF KINCARDINE Mayor Clerk SAMDOON HOLDINGS INC. President - Donald K. Murray ~ . ' ~~~ I . SCHEDULE "A" ALL AND SINGULAR that certain parcel or tract of land and premises situate, lying and being in the Town of Kincardine, County of Bruce and being composed of subdivision Lot 8 and 7 of Lot 8, Plan 61, north side of Durham Street, Town of Kincardine, County of Bruce and Part of Lot 1, west side of Queen Street in that part of the Town of Kincardine formerly known as Williamsburg now according to Plan 4. SCHEDULE "B" PARKING SPACE COST FORMULA Prior to 1977 the Town of Kincardine purchased and developed the municipal parking lot on Lots 3, 4, 5, 6 and 7 on the east side of Queen Street at a cost of $100,000.00 providing for approximately 160 parking spaces. Cost per parking space prior to 1977 - $625.00 With inflation of 100% a parking space, in 1983 is valued at $1,250.00 The policy of council is that a parking space to comply with Section 39 of the Planning Act, S.O. 1983, Chapter 1 is valued at $500.00. Therefore payment is required for three spaces at $500.00 each.