Title
SALE OF CITY INDUSTRIAL LANDS FOR A MEDICAL MARIHUANA FACILITY, SKYTECK PHARMACEUTICAL (WARD 8)
1. That the City Clerk be authorized to execute the Agreement of Purchase and Sale between the City of Barrie and 1923903 Ontario Ltd. for the 4.8 acre parcel of City owned industrial land described as Part of Lots 72, 73, 74 and 75 Plan 51M-379, City of Barrie, County of Simcoe, to be further described by reference plan to be deposited, and being part of PINs: 587280320, 587280321, 587280322 and 587280323, the property, for the purchase price of $125,000 per acre, subject to the following terms and conditions:
a) The Purchaser acknowledges that acceptance of this offer, including all amendments, is conditional upon the approval of City Council;
b) The Purchaser agrees that it is purchasing the Property in its present condition "as is" and further acknowledges and agrees that it will conduct such tests as it deems necessary to determine to its satisfaction, that the soil conditions for the property are satisfactory to support the development and construction of the building and other structures contemplated for its proposed use of the property;
c) The Purchaser also acknowledges that in the event it attempts to sell the Lands without having constructed an industrial building, the City shall have the option to repurchase the property at 90% of the original sale price; and
d) The agreement is conditional, at the Purchaser's discretion, upon the City implementing the new zoning provisions as contained in the Planning Staff Report "Industrial Rationalization Review" (PLN023-14), permitting Medical Marihuana Production Facilities within the EM4 zoning category and the Purchaser achieving a Health Canada and City of Barrie licence permitting the operation of a Medical Marihuana Production Facility.
2. That a Deeming By-law be passed to merge all the lots of the Property (Lots 72, 73, 74 and 75 Plan 51M-379) as one lot for the purposes of development....
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