4336 Schedule A - Community Improvement Plan Funding AgreementCommunity Improvement Plan Funding Agreement
pursuant to Sections 28(7) and (11) of the Planning Act
THIS AGREEMENT made this
BETWEEN:
day of August, 2019,
Otter Valley Foods Inc
(the "Owner")
and
The Corporation of the Town ofTillsonburg
(the 'Town")
WHEREAS section 28(7) of the Planning Act, R.S.O. 1190, c. P.13 as amended (the "Act")
authorizes a municipality to make grants or loans in conformity with a community
improvement plan;
AND WHEREAS section 28(11) of the Act provides for the registration of agreements
entered into under section 28(7) of the Act;
AND WHEREAS the Town has passed the community improvement plan by By-law 4084,
dated February 13, 2017 (the "CIP");
AND WHEREAS the CIP provides that the Town may provide funding through loans or
grants to eligible applicants;
AND WHEREAS the Owner is the registered owner of property known municipally as 95
Spruce Street, Tillsonburg, Ontario, N4G SC4 more particularly described in Schedule "A"
(the "Subject Property");
AND WHEREAS the Town approved funding to the Owner by resolution of the Council of
the The Corporation of the Town ofTillsonburg at its July 8, 2019 meeting in the amount of
One Hundred Thousand Dollars ($100,000.00) subject to this Agreement;
NOW THEREFORE in consideration of the mutual covenants and premises in this
Agreement, the sum of Two Dollars ($2.00) and other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:
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Term
1. This Agreement shall remain in full force and effect for the earlier of a period of five
(5) years from the date of this Agreement or until such time as all of the obligations
contained herein have been fulfilled.
Description of the Improvements
2. The Owner shall improve the Subject Property in accordance with the design
concept detailed in the Town Staff Report DCS 19-17 dated July 8, 2019 (as attached
in Schedule B") which includes the improvements to the waste water management
system (the "Improvements").
3. Prior the commencement of construction of the Improvements, the Owner shall
submit to the Town its detailed design and description of the Improvements
including the estimated cost of construction, sources of funding to complete the
works and schedule of construction. The Town shall provide a written response
within ten (10) business days confirming whether the proposed Improvements
meet the requirements of this Agreement.
Description of Funding
4. The Town hereby grants One Hundred Thousand Dollars ($100,000.00) to the
Owner toward the cost of the Improvements subject to the following (the
"Funding"):
a. the Funding shall be payable after the Improvements have been completed
and upon submission of the necessary invoices, proof of payment and other
bookkeeping records as reasonably required by the Town;
b. the Funding shall first be applied to any and all taxes, fees and charges
currently outstanding or that may become due and payable within the term
of this Agreement; and
c. the Funding shall be repayable, without interest or deduction at a rate of
$20,000.00 per year for any unexpired term of this Agreement in the event
the Owner ceases operations. In the event the Owner does not repay the
Funding pursuant to this paragraph, the Town may recover the outstanding
amount, in addition to any other remedy, by adding the outstanding amount
to the tax roll of the Subject Property and collect it in the same manner as
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Notice
property taxes pursuant to s. 446 of the Municipal Act, 2001, S.O. 2001, c.25
as amended.
5. Any notice to be given pursuant to this Agreement shall be sufficiently given if
served personally upon the party or an officer of the party for whom it is intended,
or if mailed, notice will be deemed to have been given on the fifth (5th) day
following the day notice was mailed, in the case of:
The Owner:
Inovata Foods Corp.
ATTENTION: Steve Parsons, President
#200, 39 St. Thomas Street
St. Albert, Alberta T8N 6Zl
Fax: ______ _
The Town:
The Corporation of the Towp of Tillsonburg
ATTENTION: Cephas Panschow, Development Commissioner
204-200 Broadway
Tillsonburg, Ontario N4G SA7
Fax: 519-842-9431
Other Terms
6. The parties agree that the covenants, provisions and conditions herein contained
shall extend to and be binding upon the heirs, executors, administrators, successors
and assigns of the Owner and the Town respectively.
7. The Owner covenants and agrees to assign and transfer this Agreement to any
successor owner and will obtain from such successor or assignee a covenant in
favour of the Town that the successor or assignee will be bound by all of the terms
and conditions of this Agreement from and after the date of its assignment.
8. This Agreement shall be registered against title to the Subject Property.
9. This Agreement shall constitute the entire agreement between the parties and the
parties acknowledge that there are no other representations, warranties, collateral
agreements or conditions affecting this Agreement.
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10. This Agreement shall be construed in accordance with the laws of the Province of
Ontario.
11. Schedules "A" and "B" form part of this Agreement.
12. The parties acknowledge and agree that the communication of this Agreement
may be transmitted by way of facsimile or electronic mail, and that they agree to
accept such signatures and documents to be legal and binding upon them.
13. This Agreement may be signed in any number of counterparts, each of which is
considered to be an original, and all of which are considered to be the same
documents.
14.If any provision of this Agreement, or the application thereof to any
circumstances, shall be held to be invalid or unenforceable, then the remaining
provisions of this Agreement, or the application thereof to other circumstances,
shall not be affected, and shall be valid and enforceable.
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IN WITNESS WHEREOF the parties have executed this Agreement:
Inovata Foods Corp.
Per: f) ~ t U/l,~ I --'
Steve Parsons
President
I have authority to bind the
Corporation.
'stephen Molnar
Mayor ~ .
~o ccl,1 h!fJ
0-onna Wilson ~unc:,. u½1/..J:'.
Gl€+-k U Ao u J 1/ { I./ r ,k-
We have authority to bind The
Corporation of the Town of Tillson burg.
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Schedule "A"
Legal Description of the Subject Property
ALL AND SINGULAR that certain parcel or tract ofland and premises situated, lying and
being in the Town of Tillson burg in the County of Oxford, being compromised of:
PT LT 1644 PL 500 PT 1, 2 & 3, 41R2550, PT 2, 3, 4 & 5, 41R3248 EXCEPT PT 1 & 2,
41R4302; S/T 249903 PARTIALLY RELEASED BY 437893; S/T 437892; TILLSONBURG
PIN: 00036-0053
LRO#41
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Schedule "B"
Report DCS 19-17 Community Improvement Plan Application -95 Spruce St (July 8,
2019)
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