City CouncilMeeting 18
Ottawa Hospital’s Request for Release of a Reversionary Covenant at 1967 Riverside Drive
Council was asked to
- Recommendation 3 be amended as follows: Direct staff to hold the estimated $12.9 million uplift in value of the covenant in a separate account until such time as the commercial contractual negotiations are finalized and Council considers: a) how best to spend these funds in light of its new Term of Council priorities, such as affordable housing, and b) a final direction regarding the Municipal local share contribution requested for the new Ottawa Hospital Civic Campus.
Carried
15 for, 7 against
- Affects
- Ward 18
- Agenda item
- 15.2
- Motion number
- 2023 - 18-14
- City file number
- ACS2023-PRE-CRO-0013
How each member voted
The recitals
- removing the reversionary covenant from the title of this land precludes this land from returning to the city for future disposal
- this land was previously disposed of for $1 under the condition it would be used for a non-profit use
- council is approving its new term of council priorities today
- the first priority listed in that document is affordable housing
- council should be explicit that the proceeds generated from the removal of the reversionary covenant from title to 1967 Riverside Drive are not specifically earmarked to return to the Ottawa Hospital, and that they could be put towards other objectives if council so decides
Check it yourself
This entry was transcribed from the City Clerk's official minutes. If anything here looks wrong, the minutes are the authority.
Read the official minutes