| Page 11 The Real Estate Division has reviewed analogous cases and has consulted with the Legal Services Division as to the basis upon which the City could negotiate acquisition of additional land beyond the normal dedication requirements under an application for a subdivision and rezoning. On the facts of the matter, the City would be in a similar position to defending compensation under expropriation were the City to make approval of DASZ 19/00 conditional upon the developer selling the approximately 39.5 acres to the City at a price to be negotiated. In such a case the tribunal could decide to agree with the developer�s position, plus award costs. Therefore, in order to control the cost, it would be prudent to establish the amount of land to be acquired and the price therefore in advance. This is, in fact, the wish of the developer and the reason for initiating discussions on this point in August 1999. Summary Statement: After much discussion and consideration, the Administration had reached an initial conclusion that the City�s position should be to acquire only the 24.5 acre Category One (1) lands based on a rate of $65,000 per acre, which equates to a price of approximately $1.6M (subject to survey), plus finance and closing costs. In addition to this, the right-of-way for the proposed Southglen Bridge crossing (through the Category Two land should it ultimately be determined that this is the optimum location for the bridge) would be dedicated by the developer and the City may be required to purchase the residual Category Two land. The City�s total investment in preserving 65 acres of this 81.4 acre tree stand (or 79.9%, which includes 7.5 acres to be dedicated) would then be: A) Tree stand below waterway requirement line = 33 acres for $495,000.00 B) Category One (1) lands = 24.5 acres for 1,600,000.00 C) Category One (1) lands to be dedicated = 7.5 acres for nil . Totals: 65 acres $2,095,000.00 However, upon reflection, an alternate recommendation was conceived as indicated in this report, i.e. to commit $1M towards the acquisition of the tree stand and in addition, to match dollar for dollar all other alternative funding sources to a maximum of $0.6M (City contribution) for funding the said proposed acquisition, all based on a price of $65,000.00 per acre. Among other things, this approach encourages other interested parties to join with the City to try to acquire as much of the tree stand as possible. B. Access to Royalwood Phase II The potential acquisition of either part or all of the Bois des Esprits tree stand is only one of two major issues regarding this proposed development (DASZ 19/00). The second issue is the requirement for vehicular access from St. Anne's Road over the Seine River to the proposed Royalwood Phase II residential subdivision. The developer and City administration both believed the most appropriate location for this bridge is in the area near the south limit of the tree stand, i.e. opposite the Southglen Boulevard intersection with St. Anne's Road. The developer |