Cathedral Square Ground Rent Review – 596 Richards Street

THAT Council approve an increase in rent to be paid by BC Hydro for the undersurface substation premises situated on PEF City-owned property at 596 Richards from the current market rent of [ … ] to the new market rent of [ … ] per month [ … ] effective February 1, 2008 to January 31, 2018 according to the rent review provisions of the lease.

The Administrative Report dated September 18, 2008 , refers.

Property Acquisition – 130-144 East Hastings Street

A. [ … ]

B. THAT, subject to approval of A above, Council authorise the City Manager to retain and execute the necessary agreements to secure consulting expertise to undertake a full assessment of the capital, operating and governance options for the Pantages Theatre as outlined in the Administrative Report Property Acquisition – 130-144 East Hastings Street, dated September 17, 2008, at a cost not to exceed $150,000; source of funds to be Contingency Reserve; and

FURTHER THAT staff report back in Spring 2009.

The relevant report remains sensitive and cannot be released.

Verbal Briefing – Financial Matters

Judy Rogers, City Manager, and Ken Bayne, General Manager, Business Planning & Services, provided a verbal update on financial matters.

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Where these brackets [ … ] appear, information remains sensitive and cannot be released.