HomeMy WebLinkAbout2009-166THE MUNICIPALITY OF CLARINGTON
BY-LAW NO. 2009-166
being a by-law to authorize the execution of the Postponement Agreement
between the Royal Bank of Canada, Players Business Park Ltd., West
Diamond Properties Inc., 1613881 Ontario Inc. and the Corporation of the
Municipality of Clarington.
WHEREAS Council on March 24th, 2008 recommended to the Region of Durham
approval of Official Plan Amendment No. 60 to the Clarington Official Plan;
AND WHEREAS Amendment No. 60 was appealed to the Ontario Municipality Board on
August 10, 2008;
AND WHEREAS Council on October 26, 2009, requested the Ontario Municipal Board
approve modifications to Amendment No. 60;
AND WHEREAS at their meeting on held on November 23, 2009 Council of the
Municipality of Clarington approved Draft Approved Plan of Subdivision S-C 2004-004
and Zoning By-law Amendment ZBA 2004-049 as they apply to certain lands owned by
Players Business Park Ltd and West Diamond Properties Inc.;
AND WHEREAS at their meeting held on November 23, 2009 Council of the Municipality
of Clarington authorized by by-law the execution of a Memorandum of Understanding
between Players Business Park Limited, West Diamond Properties Inc. and 1613881
Ontario Inc.;
AND WHEREAS the lands owned by Players Business Park Ltd., West Diamond
Properties Inc. and 1613881 Ontario Inc. are subject to a mortgage in favour of the
Royal Bank of Canada.
NOW THEREFORE THE CORPORATION OF THE MUNICIPALITY OF CLARINGTON
HEREBY ENACTS AS FOLLOWS
1. THAT the Mayor and Clerk are hereby authorized to execute, on behalf of the
Corporation of the Municipality of Clarington and seal with the Corporation seal,
the Postponement Agreement between the Royal Bank of Canada, Players
Business Park Ltd., West Diamond Properties Inc., 1613881 Ontario Inc. and the
Corporation of the Municipality of Clarington.
2. THAT the Postponement Agreement attached hereto as Schedule "A" forms part
of this by-law.
By-law read a first and second time this 23rd day of November 2009
By-law read a third time and finally passed this 23rd day of November 2009
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ATTACHMENT
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