Town Council effectively awarded the tenants a reprieve until June 2010. Town Council has made a recommendation to allow the 1 commercial/residential 5 story building fronting Dundas St. E. and allowing the rest of the property to be developed within the medium density guidelines(possibly limited to townhouses).
2074359 Ontario Ltd has proposed 420 units within 5 buildings and the Town has agreed in principal to 1 of the 5 buildings with 105 units in it. I disagree with the size as stated at the meeting of the rest of the property being 3 hectares and a medium density limit of 30-65 units per hectare. The total property size is 4.16 hectares as stated on page 3 of 25 in PL-24-10 which is 447778.673 ft² and building type 1 as shown on Attachment #6 of PL-24-10 has a total of 104,564 sq ft over 5 floors or an approximate footprint of 20913 sq ft so if we subtract this sq ft from the full property size, we are left with 426865 sq ft which is approximately 3.96 hectares. So 3.96 hectares would support a maximum of 257 dwelling units under medium density guidelines. 257 + 105 units for a total of 362 units which is only 58 units shy of the requested 420 units under 2074359 Ontario Ltd's original application.
70 units times $20,000 tax credits makes for a whopping 1.4 million dollar tax credit. Come on people who in their right mind is going to turn over 1.4 million dollars to an organization that does the least that they can legally get away with?
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Hey 2074359 How does it feel to get the "Political Runaround"??? JACKA$$ES!!!
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