3230 To authorize the mayor and the clerk to execute a community improvement plan agreement between the town of tillsonburg and bamford-oehm development incBY-LAW NUMBER 3230
OF
THE CORPORATION OF THE TOWN OF TILLSONB UR G
BEING A BY-LAW TO AUTHORIZE THE MAYOR AND CLERK TO
EXECUTE A COMMUNITY IMPROVEMENT PLAN AGREEMENT
BETWEEN THE TOWN OF TILLSONBURG AND BAMFORD-OEHM
DEVELOPMENT INC.
WHEREAS Section 28 (7) of the Planning Act of Ontario authorizes
municipalities to rebate building permit fees, development charges
and assessment increases to owners of lands and buildings with a
Community Improvement Project Area to pay for the whole or any
part of the- cost of rehabilitating such lands and buildings in
conformity with a Community Improvement Plan;
AND WHEREAS the Town has approved a building permit rebates ,
development charges rebates and assessment increase rebates as
part of a Community Improvement Plan within an area of downtown
Tillsonburg which includes the said lands.
AND WHEREAc.', the Owner has applied to the Town for a rebate of
building permits, development charges and increases due to
assessment to improve certain parts of the said lands in
accordance with plans submitted to the Town in support of such
application.
THEREFORE 1:he Council of the Town of Tillsonburg enacts as follows:
1. THAT -the Mayor and Clerk be hereby authorized to execute the attached agreement
marked as Schedule "A" on behalf of the Corporation of the Town of Tillsonburg.
READ A FIRST AND SECOND TIME THIS 25th DAY OF September, 2006.
READ A THIRD AND FINAL TIME AND PASSED THIS 10th DAY OF October, 2006.
l
S
MAYOR -Stephen Molnar
2
r�
CLERK -Michael Graves
Community Improvement Plan Agreement - 1 —
Schedule "A" to B;y-law No. 3230
THIS AGREEMENT made this 25th day of September, 2006.
BETV'VEEN: Bamford-Oehm Developments Inc.
hereinafter called the "Owner"
OF THE FIRST PART
and
THE CORPORATION OF THE TOWN OF TILLSONBURG
hereinafter called the "Town"
OF THE SECOND PART
WHEREAS the Owner is the owner in fee simple of the lands municipally known as Bridge
Street, being Part of Lot 441, Plan 500 designates as Parts 19 to 68 inclusive 41 R-7382 T/W and
S/T as set out in schedule "A" of declaration C08667, in the Town of Tillsonburg, In the County
of Oxl-ord (hereinafter called "the said lands"), more particularly described in Box (6) of the
Document General to be attached hereto prior to registration of this Agreement.
AND WHEREAS Section 28(7) of the Planning Act of Ontario authorizes municipalities to
make loans and rebate building permits, development charges and assessment increases to
owners of lands and buildings with a Community Improvement Project Area to pay for the
whole or any part of the cost of rehabilitating such lands and buildings in conformity with a
Community Improvement Plan.
AND WHEREAS the Town has approved a Community Improvement Plan within an area of
downtown 'hillsonburg which includes the said lands.
AND WHEREAS the Owner has applied to the Town to forgive building permits and
development charges and provide assessment rebate grant backs to improve the said lands in
accordance with plans submitted to the Town in support of such application, which plans are
hereinafter called "the said plans".
AND WHEREAS the Town has agreed to rebate the Town's portion of building permits,
development charges and assessment rebate grant -back to the Owner to carry out such
improvements on certain terms and conditions.
WITNESSETI-I that, in consideration for the advance of the said loan and as a condition of such
loan., the parties hereto covenant and agree one with the other as follows:
1. The Town shall advance to the Owner and after completion of construction, the sum of
$175,079 (hereinafter called "the principal amount") as a rebate of building permit and
development charges for the said lands.
2. The Town shall advance to the Owner and after completion the following amounts on an
annual basis:
Year 1 $591349
Year 2 $59,349
Year 3 $591349
Year 4 $591349
Year 5 $591349
3. The Owner hereby agrees to complete and maintain the said lands in accordance with
the said plans, which obligation shall continue until the end of the agreement
Community Improvement Plan Agreement -2—
Schedule
2—
Schedule "A" to By-law No. 3230
4. This Agreement shall be registered on title to the said lands as provided for by Sections
28(8) and 32(3) of the Planning Act as a first encumbrance prior to any mortgage or
lien.
5. The execution of this Agreement by the Clerk for the Town shall constitute the
certificate provided for in Section 32(3) of the Planning Act with respect to the advance
and ten -ns and conditions of such loan.
6. The Document General and Agreement shall be prepared and registered by the Owner
and the Owner shall be responsible for the costs thereof, payable at the date of the
commencement of the term.
7. This Agreement shall enure to and be binding on the successors, assigns and legal
representatives of the Owner and of the Town.
IN WITNESS WHEREOF the respective parties have executed this
Agreement as of the date first above written.
Dated at Tillsonburg this day of October, 2006.
Bamford-Oehm Developments Inc.
Per:
THE CORPORATION OF THE TOWN OF TILLSONBURG
Per:
ayor -Stephen Molnar
Clerk Michae raves