WITH RESPECT to Report 161-2026 – Growth – Development Services – Realty Services, we recommend that the City-owned surplus property, municipally known as 144 Fanshaw Street and legally described as Parcel Block-1 Section M325; Block L Plan M325 McIntyre; Thunder Bay, be sold to Terralux General Contractors and Development Limited or any permitted assignee for the sum of $969,000.00 for the purpose of a multi-residential development, subject to the terms and conditions recommended in this Report including successfully obtaining a Zoning By-law amendment and entering into a Site Plan Control Agreement and a Repurchase Agreement with the City prior to closing;
AND THAT the City-owned surplus property, municipally known as 300 Tokio Street and legally described as Part Lot 4, Concession A, Being Part Of Parts 1, 2, & 3 55R-10186, Part of Picton Avenue Plan M37 Being Parts 7 & 8 55R-9082 closed by LT135107, Lots 81-107 Plan M37, Lots 113 – 125 Plan M37, Part Lot 108 Plan M37 except Part 13 55R-9082, Part Lot 109 Plan M37 except Part 12 55R-9082, Part Lots 110 & 111 Plan M37 except Part 11 55R-9082, Part Lot 112 Plan M37 except Part 10 55R-9082, Part of Junot Avenue Plan M37, being Parts 5, 6 & 13 55R-2984 closed by LT135107, Part of Picton Avenue Plan M37, being Part 2 55R-2984 Part Lot 112 Plan M37 except Part 10 55R-9082, Part of Junot Avenue Plan M37, being Parts 5, 6 & 13 55R-2984 closed by LT135107, Part of Picton Avenue Plan M37, being Part 2 55R-2984 closed by LT135107, Part of Tokio Street Plan M37, being Part of Part 14 55R-2984 closed by LT135107, Part of Tokio Street Plan M37, being Part of Part 15 55R-2984 closed by F53897, Part of lanes Plan M37, being Parts 3 & 4 55R-2984 closed by LT135107, Part of Junot Avenue Plan M37, being Part 12 55R-2984 closed by F53897; City of Thunder Bay, be sold to Terralux General Contractors and Development Limited or any permitted assignee for the sum of $2,137,500.00 for the purpose of a multi-residential development, subject to the terms and conditions recommended in this Report including entering into a Site Plan Control Agreement and a Repurchase Agreement with the City prior to closing;
AND THAT the City-owned surplus property, municipally known as 791 Arundel Street and legally described as Part Lot C, Plan PA59, S of Arundel St, E of 55R3639 except Plan 818; Thunder Bay, be sold to Terralux General Contractors and Development Limited or any permitted assignee for the sum of $2,159,000.00 for the purpose of a multi-residential development, subject to the terms and conditions recommended in this Report including successfully obtaining a Zoning By-law amendment and entering into a Site Plan Control Agreement and a Repurchase Agreement with the City prior to closing;
AND THAT the Director - Development Services be authorized to execute any and all documentation required in order to finalize the transactions;
AND THAT any and all necessary by-laws be presented to City Council for ratification.