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HomeMy WebLinkAbout21 073 Development Charges Deferral Agreement (2767248 Ontario Inc.) By-law THE CORPORATION OF THE MUNICIPALITY OF KINCARDINE BY-LAW No. 2021- 073 BEING A BY-LAW TO AUTHORIZE THE SIGNING OF AN AGREEMENT TO DEFER DEVELOPMENT CHARGES COLLECTIBLE (620 Philip Place L 7N5AFFCK1HGCJ) WHEREAS section 27 of the Development Charges Act, 1197, S.O. 1997, c.27,as amended, provides that a municipality may enter into an agreement with a person who is required to pay a development charge providing for all or any part of the development charges to be paid before or after it would otherwise be payable; AND WHEREAS The Corporation of the Municipality passed A Bylaw to Establish Development Charges for The Corporation of the Municipality of Kincardine being By- law No. 2016-080; AND WHEREAS the owner of the property located at 620 Philip Place, Kincardine wishes to have constructed one (1) multi-residential buildingfor the property defined as: PCL B-2 SEC M1; PT BLK H PL M1; PT BLK F PL M1 PT 2 & 3 3R3793; KINCARDNE PIN 33303-0621 (LT); AND WHEREAS in an effort to keep the unit costs as affordable as possible, the Council of The Corporation of the Municipality of Kincardine has been requested to enter into an agreement to defer the collection of the required development charge payments until occupancy; AND WHEREAS the development charge to be deferred at this time would be $376,863.10; AND WHEREAS the Council of The Corporation of the Municipality of Kincardine deem it expedient to enter into such an agreement; NOW THEREFORE the Council of The Corporation of the Municipality of Kincardine ENACTS as follows: 1. That The Corporation of the Municipality of Kincardine enter into a deferred payment aHRFFMFNTWJTI(,+,(*-=NTBRJO8ND%!=\\;BLLFY7OMFS"GORTIBT property located at 620 Philip Place, Kincardine, more particularly described in the agreement attached hereto as Schedule \[1\\BNEGORMJNHPBRTOGTIFBy-law. 2. That the Mayor and Chief Administrative Officer be authorized and directed to execute, on behalf of the Council of The Corporation of the Municipality of Kincardine, the Deferred Payment Agreement with 2767248 Ontario Inc. attached hereto as ScheduLF\[1\\as well as any other documentation required and relating to the Deferred Payment Agreement. Page 2 of 2 Development Charges Deferral Agreement (2767248 Ontario Inc.) By-law By-law No. 2021- 073 3. This By-LBWMBYCFDJTFEBSTIF\]Development Charges Deferral Agreement (2767248 Ontario Inc.) By-LBW^% th READ a FIRST and SECOND TIME this 19 day of April, 2021. th READ a THIRD TIME and FINALLY PASSED this 19 day of April, 2021. Sboez!Spqqfm Kfoojgfs!Mbxsjf Tjhofe!xjui!DpotjhoP!Dmpve!)3132015033* Tjhofe!xjui!DpotjhoP!Dmpve!)3132015033* Wfsjgz!xjui!DpotjhoP!ps!Bepcf!Sfbefs/ Wfsjgz!xjui!DpotjhoP!ps!Bepcf!Sfbefs/ Deputy Mayor Clerk AGREEMENT made this ti q day of�k 2021. BETWEEN: THE CORPORATION OF THE MUNICIPALITY OF KINCARDINE hereinafter referred to as the"Municipality", OF THE FIRST PART -and- 2767248 ONTARIO INC. hereinafter referred to as the"Corporation" OF THE SECOND PART WHEREAS the Owner wishes to have constructed one(1) multi-residential building to be built on Phillip Place in Kincardine,which is legally described in Schedule"A" attached hereto(the"Lands"); AND WHEREAS in an effort to keep the unit costs as affordable as possible,the Owner has requested that the Municipality of Kincardine(the"Municipality")defer the collection of the required development charge payments until occupancy; AND WHEREAS the development charge to be deferred at the time of signing this agreement would be$376,496.10; AND WHEREAS section 27 of the Development Charges Act, 1997,S.O. 1997, c.27,as amended, provides that a municipality may enter into an agreement with a person who is required to pay a development charge providing for all or any part of the development charge to be paid before or after it would otherwise be payable; NOW THEREFORE in consideration of the sum of TWO($2.00)of lawful money of Canada and other good and valuable consideration,the receipt and sufficiency of which are hereby acknowledged,the parties hereto agree as follows: 1. The Municipality hereby agrees to defer the development charges collectible in respect of the building units until the date of occupancy. 2. The Owner shall pay the development charges to the Municipality at the date of occupancy. Such development charges shall be payable at the rate of payment in effect on the applicable date or at the date of occupancy_ 3_ If the Owner does not pay the Municipality the development charges owing in accordance with the terms of this agreement,all development charges in respect of the building shall be added to the tax roll for the Lands in accordance with subsection 32(1) of the Development Charges Act and collected in the same manner as municipal taxes and interest will be applied accordingly. 4. If the Owner fails to perform its obligations under this agreement,the Municipality may, in addition to any other remedy which it may have, commence legal action to collect all outstanding development charge payments together with interest thereon,as abovementioned, and the cost of so doing shall be collectible against the Owner on a substantial indemnity scale. 5. The agreement may not be assigned to anyone else without the prior written consent of the Municipality,which consent may be withheld in the Municipality's discretion_ 6. No failure or delay on the part of the Municipality to exercise any of its rights under this agreement shall operate to waive or extinguish any such right, nor shall any partial exercise of any right under this agreement preclude any other or further exercise thereof, or the exercise of any other right. 7. This agreement constitutes the entire agreement between the parties and supersedes all proposals, oral or written, and all other communications between the parties relating to the subject matter of this agreement. 8. This agreement shall endure to the benefit of and be binding upon the parties hereto and their respective successors and permitted assigns. IN WITNESS WHEREOF the parties have executed this agreement. THE-CORPORATION OF THE ) MUNICIPALITY OF KINCARDINE ) Deputy -yor—R-nSI Roppel ) -" Administrative Officer— Sharon Chambers OWNER Cortb. ) Hess ) t—Jon O'Malley 2767248 Ontario Inc. 169 Lexington Court Unit H, Waterloo, ON N2J 4R3 I HAVE AUTHORITY TO BIND THE CORPORATION SCHEDULE "A"to Agreement Legal Description of the Lands DESCRIPTION PCL B-2 SEC Ml; PT BLK H PL Ml; PT BLK F PL M1 PT 2&3 3R3793; KINCARDINE PIN 33303-0621 (LT) ADDRESS 620 Philip Place Kincardine LRO# 3 Notice Receipted as BR170241 on 2021 06 16 at 16:15 The applicant(s)hereby applies to the Land Registrar. yyyy mm dd Page 1 of 4 Properties PIN 33303-0621 LT Description PCL B-2 SEC Ml;PT BLK H PL Ml;PT BLK F PL M1 PT 2&3 3R3793;KINCARDINE Address 620 PHILIP PLACE KINCARDINE Consideration Consideration $2.00 Applicant(s) The notice is based on or affects a valid and existing estate,right,interest or equity in land Name THE CORPORATION OF THE MUNICIPALITY OF KINCARDINE Address for Service 1475 Concession 5 R.R.#5 Kincardine,ON N2Z 2X6 This document is not authorized under Power of Attorney by this party. This document is being authorized by a municipal corporation Randy Roppel,Deputy Mayor and Sharon Chambers,CAO. Statements This notice is pursuant to Section 71 of the Land Titles Act. This notice is for an indeterminate period Schedule: See Schedules Signed By Tammy Wynn Grove-McClement 11 Durham Street East,Box 880 acting for Signed 2021 0616 Walkerton Applicant(s) NOG 2V0 Tel 519-881-3230 Fax 519-881-3595 I have the authority to sign and register the document on behalf of the Applicant(s). Submitted By Grove-McClement&Fischer LLP 11 Durham Street East,Box 880 2021 0616 Walkerton NOG 2V0 Tel 519-881-3230 Fax 519-881-3595 Fees/Taxes/Payment Statutory Registration Fee $65.30 Total Paid $65.30 File Number Applicant Client File Number: 20703 AGREEMENT made this 119 day of %! l 2021. BETWEEN: THE CORPORATION OF THE MUNICIPALITY OF KINCARDINE hereinafter referred to as the"Municipality", OF THE FIRST PART -and- 2767248 ONTARIO INC. hereinafter referred to as the"Corporation" OF THE SECOND PART WHEREAS the Owner wishes to have constructed one(1) multi-residential building to be built on Phillip Place in Kincardine,which is legally described in Schedule"A" attached hereto (the`lands"); AND WHEREAS in an effort to keep the unit costs as affordable as possible,the Owner has requested that the Municipality of Kincardine (the"Municipality")defer the collection of the required development charge payments until occupancy; AND WHEREAS the development charge to be deferred at the time of signing this agreement would be$376,496.10: AND WHEREAS section 27 of the Development Charges Act, 1997,S.O.1997,c.27,as amended, provides that a municipality may enter into an agreement with a person who is required to pay a development charge providing for all or any part of the development charge to be paid before or after it would otherwise be payable; NOW THEREFORE in consideration of the sum of TWO($2.00)of lawful money of Canada and other good and valuable consideralion,the receipt and sufficiency of which are hereby acknowledged,the parties hereto agree as follows: 1. The Municipality hereby agrees to defer the development charges collectible in respect of the building units until the date of occupancy. 2. The Owner shall pay the development charges to the Municipality at the date of occupancy.Such development charges shalt be payable at the rate of payment in effect on the applicable date or at the date of occupancy. 3. If the Owner does not pay the Municipality the development charges owing in accordance with the terms of this agreement, all development charges in respect of the building shall be added to the tax roll for the lands in accordance with subsection 32(1)of the Development Charges Act and collected in the same manner as municipal taxes and interest will be applied accordingly. 4. If the Owner fails to perform its obligations under this agreement,the Municipality may,in addition to any other remedy which it may have,commence legal action to collect all outstanding development charge paymenlc together with interest thereon,as abovementioned,and the cost of so doing shall be collectible against the Owner on a substantial indemnity scale. 5. The agreement may not be assigned to anyone else without the prior written consent of the Municipality,which consent may be withheld in the Municipality's discretion. 6. No failure or delay on the part of the Municipality to exercise any of its rights under this agreement shall operate to waive or extinguish any such right,nor shalt any partial exercise of any right under this agreement preclude any other or further exercise thereof,or the exercise of any other right. 7. This agreement constitutes the entire agreement between the parties and supersedes all proposals,oral or written,and all other communications between the parties relating to the subject matter of this agreement. 8. This agreement shall endure to the benefit of and be binding upon the parties hereto and their respective successors and permitted.assigns. W WITNESS WHEREOF the parties have executed this agreement. } THE.CORPORATION OF THE MONICIPALI'i'Y Or KINCA(t©INE } } } Deputy M yor—R n Roppel ) } } Administrative Officer— ) Sharon Chambers } OWNER } CCAAj1LV> ) ) ne ) �—Jon lley 2767248 Ontario Inc. 169 Lexington Court Unit H, Waterloo,ON N2J 4R3 I HAVE AUTHORITY TO BIND THE CORPORATION SCHEDULE "A"to Agreement Legal Description of the Lands DESCRIPTION PCL B-2 SEC Mt; PT BLK H PL MI; PT BLK F PL M1 PT 2&3 3R3793;KINCARDINE PIN 33303-0621 (LT) ADDRESS 620 Philip Place Kincardine