HomeMy WebLinkAboutKIN 87 055 Payment/Lieu Pking
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THE CORPORATION OF THE TOWN OF KINCARDINE
BY-LAW NO. 1987-55
BEING A BY-LAW TO ENTER INTO A PAYMENT IN LIEU OF
PARKING AGREEMENT WITH 634467 ONTARIO INC.
WHEREAS Section 49 of The Planning Act,
authorizes a council to enter into
developer in regard to payment in lieu of
S.O. 1983,
an agreement
parking;
Chapter 1
with the
AND WHEREAS 634467 Ontario Inc. is proposing to build a
condominium development on Lots 4,5 and 6, plan 77 and part of
Saugeen Street and request to pay-in-lieu of parking;
AND WHEREAS The Corporation of the Town of Kincardine deems it
desirable to enter into an agreement with the developer;
NOW THEREFORE, the Council of The Corporation of the Town of
Kincardine ENACTS as follows:
1. That the mayor and clerk are hereby authorized, on behalf of
The Corporation of the Town of Kincardine, to sign the
development agreement with 634467 Ontario Inc. for a $1,500
payment-in-lieu of parking for Lots 4,5 and 6, Plan 77 and
part of the saugeen Street Road Allowance being more
particularly described as Part 5 on Reference Plan 3R-3930.
READ a FIRST and SECOND time this 6th day of August, 1987.
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Deputy-Clerk
READ a THIRD time and FINALLY PASSED this
1987.
20th day.pf August,
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Mayor
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THIS AGREEMENT made in duplicate this 16th day of July, 1987
BET WEE N:
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-AND-
634467 ontario Inc.
OF THE FIRST PART
hereinafter called the Owner
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
the premises
sum of ONE
undertakings
follows:
THIS AGREEMENT WITNESSETH that in consideration of
and other good and valuable consideration and the
DOLLAR (1.00) and the material convenants and
herein contained, the parties hereto agree as
1. The Owner shall pay to the Town the sum of One Thousand and
Five Hundred Dollars ($1,500.00) in consideration of the
Town granting a reduction of three (3) parking spaces on the
land referred to in Schedule "A" attached hereto. The basis
on which the payment of One Thousand and Five Hundred
Dollars (1,500.00) 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 seal attested by the hands of their
duly authorized officers.
IN THE PRESENCE OF
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SCHEDULE "A"
ALL AND SINGULAR that certain parcel or tract of land and
premises situate, lying and being in the Town of Kincardine, in
the County of Bruce, and being composed of Lots 4,5 and 6, plan
77 and the east part of the Saugeen Street Road Allowance between
Harbour Street and Kincardine Harbour being part of Block "E",
Plan 313, and being more particularly described as Part 5 on
Reference Plan 3R-3930.
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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.