HomeMy WebLinkAboutTR-31-91 REPORT #3
TOWN OF NEWCASTLE
REPORT File # 7
Res. #
By-Law #
MEETING: REPORT TO COUNCIL
DATE: April 29, 1991
REPORT #: _TR 9 1 FILE #:
SUBJECT:
SETTLEMENT OF ONTARIO HYDRO ASSESSMENT APPEAL
RECOMMENDATIONS:
It is respectfully recommended to Council the following:
1. That report TR-39-90 be received,
2 . That the Mayor and Clerk be authorized to sign the Minutes
of Settlement regarding an Assessment Appeal by Ontario
Hydro; and
3 . That the signed documents be forwarded to the Regional
Assessment Office for submission to the O.M.B.
BACKGROUND & COMMENTS
1. The Regional Assessment Office has presented the Corporation
with the Minutes of Settlement arising out of the settlement
by negotiation of an appeal made by Ontario Hydro on a parcel
of land represented by Roll Numbers :
Realty Assessment 18-17 010 130 046-75 0000
Business Roll # 18-17 010 130 046-75 0001
Although the land is assessed as vacant property there is
a business component attached to all Ontario Hydro lands .
. . .2
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TR-31-91 Page 2
2 . The land is approximately two acres located on Solina Road, on
which the Grant in Lieu of Taxes was calculated based on the
land valued at market value. The calculation should have been
based on the assessed value of the property.
3 . In order for the correction to be made to the assessment roll,
minutes of settlement must be signed by the Corporation and
submitted to the O.M.B. for approval .
4 . Once approved the correction will have the impact of lowering
the Grant in Lieu receivable for 1991 taxes only. However the
impact of this adjustment will be negligible in relation to
the value of Grant in Lieu receivable for the Darlington site.
5 . Since the matter has been settled by negotiation and the
minutes have been signed by the Ministry of Revenue, it is
recommended that the Mayor and Clerk now be authorized to
sign on behalf of the Municipality.
Respectfully submitted, Recommended for presentation
to the Committee,
Ma I'd A. Marano, H.BSc. , Lawrenc . Kotseff,
Treasurer. Chief nistrative Officer.
MAM/PP