19TH REPORT OF THE BOARD OF CONTROL

Special Meeting held on June 14, 2010 commencing at 3:45 p.m

PRESENT: Mayor A. M. DeCicco-Best (Chair), Deputy Mayor T. C. Gosnell, Controllers G. Barber, W. J. Polhill and G. Hume; and L. M. Rowe (Secretary).

ALSO PRESENT: Councillors Lonc and Orser (both part'time); J. A. Fielding, R. L. Fair, M. Hayward, R. W. Panzer J. P. Barber, T. A. Johnson, A. Macpherson and R. Paynter.

I YOUR BOARD RECOMMENDS:

North London 1. (1) That, on the recommendation of the City Treasurer and Chief Financial Officer, with the concurrence of the General Manager of Community

Agreement for Services, on the advice of outside legal counsel, the attached proposed by-law Leasehold (Appendix "A") BE INTRODUCED at the Municipal Council Meeting on June 14, Mortgage 2010 to authorize and approve a Consent Agreement between the City-YMCA

Joint Venture and the Bank of Montreal and to authorize the Mayor and the City Clerk to execute the agreement in respect of a leasehold mortgage being granted by the YMCA of Western Ontario in favour of the Bank of Montreal that is in accordance with the terms of the YMCA lease.

Terms of 2. (2) That, on the recommendation of the City Clerk, the following actions be taken with respect to the establishment of a Council Compensation Reference -

Council Compensation Review Task Force: Review Task Force

(a) the attached revised proposed revised Terms of Reference for a Council Compensation Review Task Force BE APPROVED; and

(b) the Civic Administration BE DIRECTED to immediately take the necessary administrative actions to implement the Council Compensation Review Task Force. (G06-00)

Veterans Memorial 3. (3) That, on the recommendation of the General Manager, Planning and Development, the following actions be taken with respect to the Veterans Parkway

infrastructure Project -Tender Memorial Parkway infrastructure project (Project Nos. PDI 142-1272, PDI 142,

1D1168-1239 & PD1132), namely:

(a)

Community Centre -Consent

the bid submitted by Ro-Buck Contracting Ltd., 2326 Fanshawe Park Road East, London, at a contract price of $938,558.25 including 5% contingency, HST extra, BE ACCEPTED; it being noted that the bid submitted by Ro-Buck Contracting was an irregular bid as only one (1) bid was received, therefore the irregular bid process was followed for this project and Ro-Buck meets the terms, conditions and specifications;

the funding for this project BE APPROVED as set out in the Sources of Financing Report attached hereto as Appendix "A';

future additional annual operating costs of $8,000 BE APPROVED as a first priority commitment from available assessment growth in 201 1 subject to final budget approval;

(d) the Civic Administration BE AUTHORIZED to undertake all the administrative acts that are necessary in connection with this contract; and

the approval given herein BE CONDITIONAL upon the Corporation entering into a formal contract or issuing a purchase order relating to this matter (Tender 10-87);

it being recognized that this work would not have been undertaken without the stimulus funding for this project having been provided through contributions of both the Canadian Federal Government and the Ontario Provincial Government. (SO7-00) (See attached.)

(b)

(c)

(e)

B C - 2

I1 YOURBOARDREPORTS:

IncameraMatter 4. (4) That the Board of Control (BC) noted that the matter pertaining to personal matters about identifiable individuals, including municipal employees, advice and recommendations of officers and employees of the Corporation concerning labour relations and employee negotiations, litigation or potential litigation effecting the municipality relating to the London Professional Fire Fighters’ Association and advice which is the subject of solicitor client privilege, including communications necessary for that purpose will be dealt with at the next regular meeting of the BC.

The meeting adjourned at 359 p.m.

I APPENDIX “A”

Bill No. 2010

By-law No. A,-

A by-law to authorize and approve a Consent Agreement between the City- YMCA Joint Venture and the Bank of Montreal and to authorize the Mayor and the City Clerk to execute the Agreement.

WHEREAS subsection 543) of the Municipal Act, 2007 provides that a

NOW THEREFORE the Municipal Council of The Corporation of the City

The Consent Agreement attached as Schedule “A“ is hereby approved.

The Mayor and the City Clerk are authorized to execute the agreement

This by-law shall come into force and effect on the day it is passed.

PASSED in Open Council on June 14,2010.

municipal power shall be exercised by by-law;

of London enacts as follows:

1.

2. approved in section 1, above.

3.

Anne Marie DeCicco-Best Mayor

Catharine Saunders City Clerk

First Reading - June 14, 2010 Second Reading - June 14, 2010 Third Reading -June 14, 2010

SCHEDULE “A“

CONSENT AGREEMENT

BETWEEN:

CITY-YMCA JOINT VENTURE a joint venture of The Corporation of the City of London and YMCA of Western Ontario

-and - BANK OF MONTREAL

RE: Lease of the premises (the “Premises’), as that term is defined in a lease dated the 8“ day of September, 2009 (the “Lease”)

By: CITY-YMCA JOINT VENTURE, a joint venture of the Corporation of the City of London and YMCA of Western Ontario (the “Landlord”)

To: YMCA OF WESTERN ONTARIO (the “Tenant”)

The undersigned Landlord is the owner of the Premises which have been leased to the Tenant pursuant to the Lease. The Tenant has applied to Bank of Montreal (the “Lender”) for certain credit facilities and, as a condition of establishing such credit facilities, the Lender requires that the Tenant grant to the Lender certain security, including a mortgage, by way of sublease, of the Tenant’s leasehold interest in the Premises (the “Leasehold Mortgage”).

In order to assist the Tenant in obtaining the proposed credit facilities from the Lender and for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

Meanings of Certain Terms

1. As used herein, the term “Lease” includes all renewal options, rights to lease additional premises, purchase options, rights of first refusal and all other rights and benefits contained in any agreement between the Tenant and the Landlord; and the term “Lender” includes the Lender and its duly authorized agents from time to time, such as a receiver or receiver and manager. As used herein, the terms “Lands” and “Facility” have the respective meanings ascribed thereto in the Lease.

Consent to Leasehold Mortgage

2. Tenant in favour of the Lender.

No Surrender or Amendment without Consent

3 . The Landlord agrees not to accept a surrender of the Lease, in whole or in part, without the prior written consent of the Lender; nor will it agree to any modification or amendment of the Lease without the prior written consent of the Lender, such consent not to be unreasonably withheld or delayed.

Lender Assumption of Obligations Under the Lease

4. To the extent that at any time the Lender shall acquire the ownership of the Lease on foreclosure of its Leasehold Mortgage or by assignment of the Lease in lieu of foreclosure of its Leasehold Mortgage, it hereby agrees to assume and to be liable for the performance of the terms, covenants and conditions contained in the Lease.

The Landlord hereby consents to the granting of the Leasehold Mortgage by the

CLIENT-162891.1 Error! Unknown document property name.

covenants of the Landlord

5. the Tenant under the Lease:

The Landlord agrees for the benefit of the Lender that in the event of default by

that in the event the Landlord gives written notice of the occurrence of an event of default pursuant to the Lease to the Tenant, the Landlord shall give to the Lender a copy of each notice of default by the Tenant at the same time;

the Landlord will accept, and the Lender is entitled, within thirty (30) days from the date of notice of default, to perform any covenant, condition or agreement on the Tenant's part to be performed under the Lease with the same force and effect as though performed by the Tenant in order to avoid forfeiture by the Tenant under the Lease;

the Landlord will not give or serve any notice of termination of the Lease upon the Tenant without first giving the Lender thirty (30) days from the date of notice of default within which to institute foreclosure proceedings or, if such proceedings are not legally available, to institute other proceedings as may be legally available to the Lender, provided the Lender shall have cured any then existing default (other than accelerated rent), or if such default is not curable by payment of money, be actively engaged in the curing thereof, and provided that the Lender shall continue to keep the Lease free from default;

the Landlord agrees that in the event of termination of the Lease before the end of its tern, the Landlord may enter into a new lease of the Premises with the Lender, or such other person as the Lender may specify, for the remainder of the term, effective immediately upon termination, at the rent and upon all of the terms, provisions, covenants and agreements contained in the Lease, subject to any rights of the parties then in possession of any part of the Premises, provided:

(i)

(a)

(b)

(c)

(d)

the Lender shall make a written request to the Landlord for the new lease within thirty (30) days from the date of notice of default;

the Lender shall pay to the Landlord at the time of execution and delivery of the new lease, any and all sums which would at the time of the execution and delivery of the new lease be due under the Lease but for the termination (other than accelerated rent), together with reasonable expenses of the Landlord in connection with the proposed new lease;

the Lender as tenant under the new lease shall have the same right, title and interest in and to the Premises as the Tenant had under the terminated Lease; and

the Landlord shall not warrant the condition of the Premises to the Lender under the new lease, but shall lease the Premises as the Landlord then has, subject only to those matters which the Lease was subject and to those matters suffered, created or permitted to be suffered by the Tenant under the terminated Lease.

(ii)

(iii)

(iv)

Lender's Right to Use Premises

6 . The Lender may from time to time enter the Premises for the purpose of inspecting, possessing, removing, selling (by way of public or private auction), advertising for sale or otherwise dealing with the Secured Property or carrying on the business of the Tenant, and such right shall be irrevocable and shall continue from the date the Lender enters the Premises for as long as the Lender deems necessary but not to exceed a period of ninety (90) days after the receipt by the Lender of written notice by the Landlord directing removal of any property that is the subject of the security of the Lender. During such use of the Premises, the Lender shall pay to the Landlord the rent provided for in the Lease applicable to the period of such use, prorated on a per diem basis, to the extent the Landlord has not received such rent from any other person on the basis that such payment of rent shall not subject the Lender to any other obligations under the Lease.

CLIENT-162891.1 Error! Unknown dOFumeot propcdy name.

2

I Covenants of the Lender

7. The Lender agrees that it shall give to the Landlord a copy of each notice of default by the Tenant under the Leasehold Mortgage or any other agreements between the Tenant and the Lender at the same time as and whenever any such notice of default shall be given by the Lender to the Tenant.

8. The Lender agrees for the benefit of the Landlord that prior to the institution of any proceedings by the Lender to foreclose or negotiations to accept an assignment in lieu of foreclosure with respect to the Leasehold Mortgage:

the Lender shall offer to the Landlord in writing the right to purchase the Leasehold Mortgage and the indebtedness that it secures at a purchase price equal to or less than the full amount then owing to the Lender under the Leasehold Mortgage, including interest accrued and unpaid and the reasonable fees of the solicitors for the Lender;

the Landlord shall have thirty (30) days after receipt of such offer from the Lender to elect to purchase the Leasehold Mortgage; and

the Landlord shall complete any such purchase of the Leasehold Mortgage within thirty (30) days of from the date of acceptance by the Landlord, pursuant to Section (b) above.

(a)

(b)

(c)

Enforcement of Leasehold Mortgage by Lender

9. If the Lender enters into possession of the Premises, pursuant to its rights under the Leasehold Mortgage, and is unable to make an assignment of the Lease to an assignee, the Lender has the right, upon not less than thirty (30) days written notice to the Landlord, to surrender possession of the Premises to the Landlord and to provide a discharge of the Leasehold Mortgage and any other security it has registered against the Premises within thirty (30) days of the receipt of the notice herein by the Landlord. The Lender shall be responsible for and indemnify the Landlord against any damage to the Facility (as that term is defined in the Lease) caused by the Lender or its agents during their possession of the Premises.

10. Subject to Section 8(a) above, if the Lender takes any steps to enforce its Leasehold Mortgage, and whether or not the Tenant is in default of its obligations under the Lease, the Landlord agrees as follows:

(a) the Landlord will not unreasonably withhold its consent to the assignment, subletting or other disposition of the Lease by the Lender pursuant to the Leasehold Mortgage, notwithstanding any provision contained in the Lease with respect to assignment or subletting; and

if the Lender enters into possessionbf the Premises pursuant to the Leasehold Mortgage and subsequently assigns the Lease, sublets the Premises or otherwise disposes of its interest in the Lease or relinquishes possession of the Premises in a manner that is compliant with the terms hereof, the liability of the Lender under the Lease shall terminate on the effective date of any such assignment, sublet, disposition or relinquishment.

(b)

Waiver of Certain Rights

11. The Landlord consents to the Lender’s entering upon the Premises to remove any property of the Tenant over which it has security, provided the Lender repairs any physical damage to the Premises caused by such removal.

Subordination of Security

12. The Landlord hereby subordinates all security it now or hereafter may hold in respect of the Tenant or its property, assets and undertaking in favour of all security held by the Lender.

CLIENT1 6289 1,1 Error! Unknown document property name.

3

Expropriation of Premises

13. The Landlord agrees that that any monies received by it as the result of all or part of the Lands or the Facility being taken by the exercise of a power of expropriation by any competent authority of powers of expropriation, condemnation or eminent domain shall be received and disposed of by the Landlord in accordance with the provisions of Section 17 of the Lease, except that:

(a) the Leasehold Mortgage shall be a lien on the compensation or purchase price paid in respect of such taking or sale to the extent the same or any portion thereof are payable to the Tenant; and

(b) unless otherwise provided in the Lease, the Lender shall be entitled to the payment of the principal and interest and all other charges secured by the Leasehold Mortgage before the Tenant shall be entitled to receive any portion thereof.

Status of Lease

14. The Landlord confirms that the Lease is in good standing and in full force and effect, all rents due thereunder to the date hereof have been duly paid, and neither the Landlord nor the Tenant is in default in the observance or performance of its respective covenants in the Lease to the date hereof.

Mortgage of Landlord's Interest

15. The Landlord represents and warrants to the Lender that the Landlord's interest in the Premises has not been mortgaged, encumbered or otherwise dealt with in whole or in part. The Landlord agrees that it will not mortgage, encumber or otherwise deal with its interest in the Premises in whole or in part unless it first obtains a written acknowledgement from the proposed mortgagee or other applicable party.

Other Rights Preserved

16. remedies which may be otherwise available to the Lender at law.

Notice

17. Without prejudice to any other method of giving notice, any demand, notice or communication to be made or given hereunder shall be in writing and may be made or given by personal delivery or by transmittal by facsimile machine addressed to the respective parties as follows:

This Agreement is in addition to and not in substitution for any and all rights and

To the Lender:

Bank of Montreal 270 Dundas Street, 2nd Floor London, ON N6A 1H3

Attention: Robert Vandermeersch Facsimile: 519.667.6400

To the Landlord:

City-YMCA Joint Venture The Corporation of the City of London Suite 1014, City Hall 300 Dufferin Avenue P. 0. Box 5035 London, ON N6A 4L9

Attention: City Clerk Facsimile: 519.661.4892

CLIENT-162891.1 Error! Unknown document property name.

4

YMCA of Western Ontario 382 Waterloo Street London, ON N6B 2N8

Attention: Chief Executive Officer Facsimile: 519.433.8527

Any notice, demand or other communication permitted or required to be given hereunder must be given in writing and may be effectively given by delivering the same at the address(es) hereinafter set forth or by sending the same by telecopy to the parties at such addresses. Any notice, demand or other communication so given prior to 5:OO p.m. (Toronto time) on a Business Day by personal delivery or by telecopy shall be deemed to have been given, received and made on such Business Day and if so given after 5:OO p.m. (Toronto time) on a Business Day or a day which is not a Business Day, such notice, demand or other communication shall be deemed to have been given, made and received on the next following Business Day. Any party may change its address for service by notice given in the foregoing manner. As used herein “Business Day” means any day (other than a Saturday or Sunday) on which banks are generally open for business in Toronto, Ontario.

Further Assurances

18. The parties agree to promptly execute and deliver or cause to be executed and delivered to each other upon request from time to time all such other and further documents, agreements and further assurances as may be necessary or desirable to more fully record or evidence the obligations intended to be entered into herein.

Receiver, Receiver and Manager or Agent

19. Any rights of the Lender referred to in this Agreement may, at the Lender’s discretion, be exercised by any receiver or receiver and manager of any or all the property of the Tenant over which the Lender holds security appointed by the Lender or the Court or by any agent of the Lender.

Registration

20. registered against title to the Lands.

Execution by Fax and Counterparts

21. This Agreement may be executed in several counterparts, each of which, when so executed, shall be deemed to be an original and which counterparts together shall constitute one and the same Agreement. This Agreement may be executed by facsimile, and any signature contained hereon by facsimile shall be deemed to be equivalent to an original signature for all purposes.

Successors and Assigns

22. This Agreement shall be binding upon and shall enure to the benefit of the parties hereto and their respective successors and assigns; “successor” includes any corporation arising as a result of the amalgamation of a corporation with any other corporation. The Landlord agrees that it will not directly or indirectly transfer its interest in the Lease, the Premises or the Lands in whole or in part unless prior to such transfer the transferee agrees in writing to be bound by the provisions of this Agreement.

This Agreement, a notice thereof or a caveat with respect thereto may be

CLIENT-162891.1 Error! Unknown document property name.

5

IN WITNESS WHEREOF this Agreement has been executed, sealed and delivered by the parties hereto under the hands of their respective duly authorized officers in that behalf, this __ day of ,2010.

CITY-YMCA JOINT VENTURE, A JOINT VENTURE OF THE CORPORATION OF THE CITY OF LONDON AND YMCA OF WESTERN ONTARIO

THE CORPORATION OF THE CITY OF LONDON

CLIENT-162891.1 Error! Unknown document property name.

By: Name: Title:

By: Name: Title:

YMCA OF WESTERN ONTARIO

By: Name: Murray Faulkner Title: Chairperson

Name: Sham Elliott Title: Chief Executive Officer &

By:

Secretary BANK OF MONTREAL

By: Name: Title:

By: Name: Title:

6

REVISED

TERMS OF REFERENCE

COUNCIL COMPENSATION REVIEW TASK FORCE

COMPOSITION:

Votina Members:

Six members consisting of:

1 Representative of the London Chamber of Commerce 1 Representative of the Urban League of London I Representative of the London and District Labour Council 1 Member of the Human Resources Professionals London & District 2 Citizens-at-Large

Resource Staff:

Jill Tansley , Municipal Policy Specialist

TERM OF OFFICE:

The Council Compensation Review Task its Final Repoti to the Board of Control.

bmission of

QUALIFICATIONS:

Citizens-at-Large must be a pe have the appropriate expertise.

ondon, of voting age, and

posting on the City of London website, invited to apply for appointment to the

an League of London and the London and d to nominate one representative from each of their

recommendation of the Board of Control, shall approve the

hair are elected by the Task Force from among its Voting

MEETINGS:

The first meeting shall be called by the City Clerk, Subsequent meetings shall be at the call of the Chair, in consultation with the Task Force Secretary.

DUTIES:

The Council Compensation Review Task Force reports to the Municipal Council, through the Board of Control.

The Task Force shall be responsible for reviewing and providing recommendations with respect to Council Member compensation, including:

(a) collecting and analyzing research materials from other legislative judsdictions and positions of comparable responsibility within the public and private sectors;

seeking public input and input from Council Members; reviewing and making recommendations with respect to:

(i) (ii) (iii) (iv)

reviewing and making recommendations with respect to a process for the regular review of Council compensation prior to November 30, 2010.

Mayor and Council Member annual stipend; honoraria and agency, board and commission compensation benefits available to Members of Council; continuation of 1/3 tax free allowance;

GUIDING PRINCIPLES:

1. No Council Member should seek to serve in public office solely for financial gain. The key motivation should be to serve and improve the well-being of the citizens of London.

2. The system of remuneration must be transparent, open and easily

3. Remuneration needs to be sensitive to conditions and to

4. With the exception of the Mayor, Lond are considered

5.

understandable.

compensation levels in comparable municip

"part time".

Fair compensation should be off individuals.

VACANCIES:

of members to the Council

Name: Linda Rowe Phone: 519-661-2500 Ext. 5396 Fax: 5 1 9-66 1 -4892 E-mail: Irowe@london.ca

Agenda Item # Page #

TO: CHAIR AND MEMBERS BOARD OF CONTROL

MEETING ON MONDAY, JUNE 14,2010

~

SUBJECT TENDER 10-87 VETERANS MEMORIAL PARKWAY INFRASTRUCTUREPROJECT

II RECOMMENDATION II

That on the recommendation of the General Manager, Planning and Development that the following actions BE TAKEN with respect to the Veterans Memorial Parkway, T I 0-87:

1.

2.

3.

4.

5.

6.

The tender submitted by Ro-Buck Contracting Ltd., 2326 Fanshawe Park Rd., E., London, Ontario N5X 4A2 at a contract price of $938,558.25. including 5% contingency, HST extra, BE ACCEPTED; it being noted that the bid submitted by Roi Buck Contracting was an irregular bid as only one (1) bid was received, therefore the irregular bid process was followed for this project and Ro-Buck meets the terms, conditions and specifications.

That the funding for this purchase BE APPROVED as set out in the Source of Financing Report attached hereto as Appendix “A.

Future additional annual operating costs of $8,000.00 BE APPROVED as a first priority commitment from available assessment growth in 201 1 subject to final budget approval.

That Civic Administration BE AUTHORIZED to undertake all the administrative acts that are necessary in connection with this contract.

Approval hereby given BE CONDITIONAL upon the Corporation entering into a formal contract or having a purchase order relating to the subject matter of this approval.

It BE RECOGNIZED that this work would not have been undertaken without the stimulus funding for this project having been provided through contributions of both the Canadian Federal Government and the Ontario Provincial. Government.

1 PREVIOUS REPORT

Further to the direction from Board of Control on June 9, 2010, staff reviewed the stone options for the features with the City’s consultant. Limestone would be an acceptable material to use and the engraved text in the limestone has a life span of at least seventy-five (75) years before the engraved wording would need some restoration. The Granite option offers approximately double that life span for the engraving. Either way, repainting of the letters will be required approximately every ten to fifteen years. Granite will also generally last longer due to its quartz and feldspar interlocking crystalline structural. Since granite has identified benefits and provides the consistency of materials along the roadway, it is preferable to use granite. The tender included prices for each feature in granite, so no further negotiations with the contractor were required.

Staff also explored options for community planting as part of this project. The trees proposed for planting are large caliper for immediate impact and not suitable for volunteer planting. The shrubs could be planted by volunteers and would generate approximately $35,000 in savings, but they could not be planted this fall due to the timing of the contract and delineation of the area as a “construction site” until all works are deemed substantially complete, which will occur very late in the fall. Proceeding with the desired tree and shrub planting in this contract completes Phase 111 in 2010 and allows volunteers to focus on their already planned multi-year planting program.

Agenda Item # Page # 3

BACKGROUND

- SUBMITTED BY: RECOMMENbED BY:

97. i? b5,.&9 ' L A.A/0/4p ?P, R.W PANZER GENERAL MANAGER PLANNING AND DEVELOPMENT

MIKE TURNER DEPUTY CITY TREASURER .

Chair and Members Board of Control

3 APPENDIX'A' REVISED XI0097

May 28,2010 (Award Contract)

RE: VMerans Memorlal Parkway, Phase II and Phase 111 Capital Project PDll42-1272 -Veteram Memorlal Parkway Capital ProJect PD1142- Enhanced Veterans Memortal Parkway Capltal Project lD1168.1239. Innovation Industrlal Park - Phase 3 Capltal Project PDII3Z -Emerald A.h Tree Replacement RO-Buck Constyctlon Ltd. -.$938,668 (oxcludlng HST)

FINANCE AND CORPORATE SER VICES DEPARTMENT REPORT ON THE SOURCES OF FiNANClNQi Finance and Corporate Services mMms that the cost of thls prolect can not be accommodated wlthin tne Rnancina available for It in the CaPltal Works Budget and that, subject to the adoption of the recommendationiof the General Manager of Planning 8 Developm;nt, the detailed source of flnanctng for this projed Is:

Approved AdditlOIWl Revlsed Committed This Balance for ESTIMATED EXPENDITURES Budget Fundlng Budget to Date Submlsslon Future Work PD1142-1272-Veterans Memorlal Parkway

C o n st r u ct i o n 640,613 640,613 633,573 7,040

700.000 0 700.000 59.387 633.573 7.040

0

Engineering $58,750 $58.750 $58,750 $0

City Related Expenses 637 $37 637 0

PD1142-Enhanced Veterans Memorial Par- Construction

.~

0 161,472 161,472 0 161.472

ID116~1239-lnn0vatIun Park-Ph. 3 Engineering 879,001 879.001 . 879,001 0 Constructlon 8269.000 8,269.000 8.205,l I 9 52.600 11,281 Clty Related Expenses 51,999 51,999 51.809 190

9,200,000 0 9,200.000 9,135,929 52,600 11,471 PD1132-Emerald As h Tree ReDiacemea Construction 890,000 890,Mx) 455,207 107.432 327,361 CRY Related Expenses 10,000 ?O,OOO 5,707 4,293

NET ESTIMATED EXPENDITURES

SOURCE OF FINANCING:

Capltal Levy $234,000 234,000 $19,796 $21 1,191 $3,013 Federal Stimulus Funding 2) 233,000 233,000 19,795 2tl.191 2,014 Provincial Stimulus Funding 2) 233,000 233,000 19,796 211,191 2,013

700.000 0 700.000 59.387 633.573 7.040 PD1142-Enhanced Veterans Memorlal Parkway

1) PD1142-1272-Voterans Memorial Parkway

Capital Levy 3) 0 161,472 161,472 0 161,472 0

IDi16812391nnova~lon Park-Ph. Debenture By-Law NO. W.-2070-226

Federal Stimulus Funding 2) 3,068,333 3,066,333 3,045.310 17,533 3.490 Provincial Stimulus Funding 2) 3,066,333 3,066,333 3,045,309 17,533 3,491

9,200.000 0 9,200,000 9,135,929 52.600 11,471

(Serviced through lndustrlal Land R.F.) 3,067,334 3,067,334 3,045,310 17,534 4,490

PD1132-Emerald Ash Tree ReDlacemenJ

Drawdown from Woodlot Acquisition R.F.

TOTAL FtNANCtNG

Capital Levy 500.000 500,000 460.914 39.086 0 400 000

Flnanclal Note 1) Contract Price

Add: HST@ 13% Total Contract Price Less: HST Rebate Net CohtraCt Price

PDtl42-I272 PD1142 ID118&1239 PD3132 Total $622,615 $158.679 $51,690 $105,574 $938,558

80.940 20,628 6,720 13.725 122.013 703.555 179.307 58.410 129.299 1.060.571 69,982 17,836 5,810 1 1,867 105,494

$633,573 $161,472 $52,600 $107,432 $955,077

2) This pmject has Deen approved as part of the Infrastructure Stimulus Funding Program announced in June 2009. The project was planned in fJture yean with 100% C i of Lonuon funding. The budget was brought foward to 2009 and the fbture budgets reduced amrdingly. Since the projeci is now fJnded earlier on a 113 Federal. In ProvinclaI. In Municlpal funding formula. the City of London portion will be funded prlmarily through capital levy and debt.

Once all ISF projects in the Parks Department are tendered. Administration will give consideration lo utilize excess funding where appiicaDle to maximize tne current assistance from all Governments and will report back to Council for approvals.

3) Antidpatec savings hom capnal nnanclng cos& in the 2010 Corporate Operating Budget can accommodate the aod.lional fund ng request

4) Tnere will be an additional annual operating cost of 58.000 in 2Ot I with the approval of this project

u Director of Financial Palarchio Planning a Policy