Interesting info of how a park comes into being at a condominium development.
from the cities report, sections pasted together after redaction of general text –
50 St. Joseph Street. Through the development, the City will be obtaining a substantial amount of parkland equivalent to approximately 30% of the development site area. The parkland will be obtained through
three methods. 1)The developer is required to provide a statutory parkland dedication.
Another portion of parkland is being secured as a Section 37 contribution, through a….Acquisition sub-project, 50 St. Joseph Street, in the amount of $600,000.00, funded from
the Parkland Acquisition – Toronto Local Reserve Fund, (XR2053) to complete the
acquisition of parkland for the site. Section 37 agreement. In addition the City will make a direct payment to the owner of the land in order to complete the proposed parkland acquisition
Funding the Parkland Acquisition at 50 St. Joseph Street Feb 08/Full report [opens in new window]