That the Corporate and Finance Services Committee recommend to City Council:
Whereas, on May 29, 2023, Council approved the recommendations in Report ED-23-105 dated May 3, 2023, regarding the request from George Lysyk and Sons Limited to enter into a Capital Cost Sharing Agreement for the reconstruction of Dieppe Court; and,
Whereas, Council approved funding to a limit in the amount of $240,000 from the Infrastructure Reserve for reimbursement to the Owner, subject to the execution of a Capital Cost Sharing Agreement; and,
Whereas, site investigations produced a soils report that indicates a highly frost susceptible soil and recommends a more expensive pavement design and base material for the construction of Dieppe Court estimated to be an additional $59,071.42, repayment based on actuals; and,
Whereas, in accordance with terms of a 1966 Purchase and Sale Agreement and a 1996 Ontario Municipal Board decision regarding Development Charges, the City is obligated to include “sewer, water, curbs and gutters, granular base, pavement sewer and water house connections and street lighting” resulting in the need for an additional $93,132.57 in funding; and,
Whereas, the Capital Cost Sharing Agreement funding for Dieppe Court will require an additional $152,203.99 to cover the above-noted costs; and,
Whereas, the City’s Purchasing-By-law-80-2020 and the Capital Cost Sharing Agreement cannot be executed prior to approval of funding; and,
Whereas, Finance Services has confirmed that the additional cost of $152,203.99 can be funded from the Infrastructure Reserve;
Therefore, be it resolved that pursuant to CF-23-61, additional funding of $152,203.99 (including H.S.T.) be approved from the Infrastructure Reserve for the Capital Cost Sharing Agreement funding for Dieppe Court.