At July 19, 2022 City Council Meeting, Council adopted 2022.MM.47.90 authorizing the release of Section 37 funds from a development towards Public Realm and Streetscape Improvements related to “Manor Road Square” as prescribed in Official Plan Amendment 405 as a City- Initiated Public Realm Move. The total funds authorized for release to Rockport Yonge and Manor Inc., was $711,800, inclusive of HST. Due to cost escalations, settlement of design for Manor Square and time delay in entering into a construction agreement, Transportation Services staff have confirmed that the revised project cost for the works is $1,030,400 (inclusive of HST). This results in $318,600 additional costs that are above the Owner’s obligation. This motion requests authority from Council to amend the 2024-2033 Approved Capital Budget and Plan for Transportation Services to release additional funds to Rockport Yonge and Manor Inc., to implement construction and related costs associated with streetscape improvements on Manor Road West, fully funded by Section 37 (Planning Act Reserve Fund) community benefits that have been received and are eligible for these purposes. This motion requires urgency to ensure that the public realm and streetscape improvements are aligned with the project’s expected completion date.
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