TAMRMS#: B06
9.3
title
Time Extension Request - 22 St. Thomas Street Land Sale Agreement
Presented by: Lory Scott, Affordable Housing Liaison, Planning and Development
label
RECOMMENDED MOTION
recommendation
That a deadline extension for the following item be approved: Time Extension Request - 22 St. Thomas Street Land Transfer Agreement be extended to September 19, 2022.
body
REASON FOR TIME EXTENSION
Administration is requesting a time extension to finalize negotiations between Homeland Housing and the City of St. Albert on the Mixed Market Housing and Commercial Development Agreement for the land at 22 St. Thomas Street.
On May 4, 2022 Homeland Housing’s legal counsel, Gordon Putnam, was appointed a judge of the Provincial Court of Alberta effective June 1, 2022. This appointment has required Homeland Housing to change lawyers, which has resulted in additional time being needed to complete negotiations on the agreement. The parties are requesting a time extension to bring the agreement back for Council approval no later than the last regular Council meeting in September, 2022.
At the December 6, 2021 Council meeting the following motions were passed:
AR-21-438
That an exception to the requirement to dispose of City owned land at market value, as set out in Land Transactions Policy C-ED-03, be approved for disposition of City owned land at 22 St. Thomas Street;
That the Chief Administrative Officer is directed to execute on behalf of the City, an agreement with Homeland Housing for sale of the land at 22 St. Thomas Street for nominal consideration, for the purpose of building and operating a mixed-income, mixed residential and commercial development on the site with a minimum term of 30 years for the non-market housing units within the development and otherwise upon terms and conditions satisfactory to the Chief Administrative Officer subject to Council approval, and that Administration bring the agreement back to Council no later than June 30, 2022;
That the market value of the said land be deemed the City's equivalent monetary contribution towards the non-market housing component of the intended development.
body
Report Date: June 7, 2022
Author: Lory Scott
Department: Planning and Development
Director: Adryan Slaght
Deputy Chief Administrative Officer (Interim): Diane Enger
Chief Administrative Officer (Interim): Kerry Hilts