AlbertC

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Sept 27, 2020

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DSC

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TEYCC are voting this week on the staging area for 481 University. See: http://app.toronto.ca/tmmis/viewAgendaItemHistory.do?item=2020.TE20.30

Financial Impact
There is no financial impact to the City. Davpart Incorporated is responsible for all costs, including payment of fees to the City for the occupancy of the right-of-way. Based on the area enclosed and projected duration of the proposed closures on University Avenue, Edward Street and Centre Avenue, these fees will be approximately $6,590,000.00.

Where does this $6 million go? To Transportation for regular work? For streetscape improvements? To general City funds?? This project will bring in more $$ than most but ......​
 

Northern Light

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TEYCC are voting this week on the staging area for 481 University. See: http://app.toronto.ca/tmmis/viewAgendaItemHistory.do?item=2020.TE20.30

Financial Impact
There is no financial impact to the City. Davpart Incorporated is responsible for all costs, including payment of fees to the City for the occupancy of the right-of-way. Based on the area enclosed and projected duration of the proposed closures on University Avenue, Edward Street and Centre Avenue, these fees will be approximately $6,590,000.00.

Where does this $6 million go? To Transportation for regular work? For streetscape improvements? To general City funds?? This project will bring in more $$ than most but ......​

You ask, I answer:

From this report:


The issuance of higher permit fees will add revenue to the Transportation Services operating budget in 2015 and beyond

and

When on-street metered parking spaces managed by the Toronto Parking Authority are displaced, the lost revenues associated with the street occupation are recuperated from the permit holder in addition to the permit fees. ***



*** The result of the above report was to absorb Green P's costs into the permit fee as opposed to recovering that cost separately.

So what now happens is Green P gets its take first; and the balance is given to the Transportation Services.
 

cd concept

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Does anyone how they're going to tackle this demolition? Are they going dismantle the facade or brace it with I beams all over ? There's a lot nice exterior ornaments and stone slab to dismantle if they don't brace the building and that's time consuming !
 

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