2967 To authorize the entering into of an Agreement with R and R Holdings.THE CORPORATION OF THE TOWN OF TILLSONBURG
BY-LAW NUMBER 2967
A BY-LAW to authorize the entering into of an Agreement with Rand R Holdings.
WHEREAS the Town of Tillsonburg and R. and R. Holdings are desirous of entering
into an agreement to develop parking in the Town of Tillsonburg in conjunction with the
development of certain lands being purchased by R. and R. Holdings.
AND WHEREAS the Council of the Corporation of the Town of Tillsonburg is
authorized to purchase or lease lands and develop it pursuant to Section 207, Paragraph
56 of the Municipal Act, Chapter M.45 RSO.
BE IT THEREFORE ENACTED by the Council of the Corporation of the Town of
Tillsonburg as follows:
1. THAT the Council of the Town of Tillsonburg does hereby authorize the entering
into of an Agreement with R. and R. Holdings as attached as Schedule "A" to this By -
Law for the conveyance, lease and development of certain lands for Municipal
Parking Lot purposes as detailed in the Agreement.
2. Schedule "A" attached hereto shall be deemed to be part of this By -Law as if written
herein.
3. The Mayor and Clerk are hereby authorized to execute on behalf of the Corporation
of the Town of Tillsonburg such documents to give effect to the Agreement attached
as Schedule "A".
4. THAT this By -Law shall come into full force and effect upon the date of enactment.
READ A FIRST AND SECOND T W, THIS 56 DAY OF FEBRUARY 2001
PASSED A THIRD TIME, SIGNED SEALED AND NUMBERED
THIS 12TH DAY OF FEBRUARY 2001.
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APPENDIX "A"
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DEVELOPMENT AGREEMENT
THIS AGREEMENT made the /3 day of til �-A- 2001
BETWEEN:
THE CORPORATION OF THE TOWN OF TILLSONBURG,
(hereinafter called the "Town")
OF THE FIRST PART
-and-
R. AND R. HOLDINGS
(hereinafter called "R. and R.")
OF THE SECOND PART
WITNESSES THAT:
WHEREAS:
(a) The Town and R. and R. are desirous of entering into an agreement to develop
parking in the Town of Tillsonburg in conjunction with development of
certain lands being purchased by R. and R..
(b) The Town is authorized to purchase or lease lands for municipal parking and
develop it pursuant to Section 207, Paragraph 56 of the Municipal Act,
Chapter M.45 RSO.
NOW THEREFORE in consideration of the premises and the mutual covenants and
agreements herein contained, the parties covenant and agree as follows:
1. R. & R. to acquire by Offer of Purchase the Esso Property (Lot 1087, Plan 500)
and prior to closing, assign the Offer to the Town as well as provide evidence of
"clean" Environmental Report to the satisfaction of the Town.
2. At the time of closing of the conveyance in Paragraph 1. above, R. & R. will pay
the Town the amount of the Purchase Price of the Esso Property. In exchange, the
Town will pay R. & R. $50,000.00 and convey title of the Salvation Army
property (Lot 1089, Plan 500) to R & R.
3. Parties will be responsible for their respective legal costs and Land Transfer
Taxes associated with the transfers herein.
4. R. & R. will split evenly with the Town any survey costs necessary to facilitate
property transfers between the Town and R. and R. noted in Paragraph 5 herein.
2
5. Concurrent but separate from the above, the R. & R. shall acquire the Crawford
property (Lots 1086 and 1088, Plan 500) for the purpose of redeveloping the
building thereon and adding an addition of approximately 10,000 square feet.
Closing to take place on or about the end of March 2001 and development to
commence during the same year. To facilitate this development, the Town and
R. & R. Holdings may transfer certain lands between the Crawford lands and the
Esso lands to accommodate this development as mutually agreeable.
6. Town shall remove the building on Esso property leaving site satisfactory for
developing.
7. R. & R. shall develop both parking areas (Esso and Salvation Army lands) to
extent of paving and landscaping and split the cost evenly with the Town
following a mutually agreeable tendering process.
8. Town shall develop and maintain both parking areas with signage, lighting, line
painting and proper entrances and exits.
9. R. & R. shall lease the Salvation Army property to the Town for Municipal
Parking at a nominal rent ($10.00 year) for an extended period of time (20 years
with renewals on the same terms) on a net/net/net basis on condition that the
Town shall continue to utilize the Esso property for Municipal Parking purposes.
10. The development subject to this agreement shall be implemented substantially as
shown on the sketch attached hereto as Appendix "A".
IN WITNESS WHEREOF the parties hereto have hereunto affixed their respective
corporate seals dully attested to by the hands of their respective proper officers duly
authorized in that behalf.
THE CORPORATI0,N OF THE TOWN OF TILLSONBURG
By:
r"P
R. A
And: