Lease Renewal and Amendment between the City of Vancouver and Blenz Coffee Ltd. at 345 Robson Street (Library Square)

A. THAT Council approve to renew the lease with Blenz Coffee. Ltd. for approximately 2,104 square feet of premises situated at Units #205 & #206 – 345 Robson Street, legally described as Air Space Parcel 1, Block 56, District Lot 541, Group 1, New Westminster District, Air Space Plan LMP22595, on the following terms and conditions:

Term: Five (5) years commencing on December 1, 2009 (First Renewal Term)

Rent: [ … ]

Use: retail food & beverage premises

Other: Such other terms and conditions of the lease to be drawn to the satisfaction of the Director of Legal Services and the Director of Real Estate Services, it being noted that no legal obligation shall arise until the document is executed.

Rents to be credited to the Property Endowment Fund.

B. THAT Council approve an amendment to the original lease between the City of Vancouver and Blenz Coffee. Ltd. for the premises on the following terms and conditions:

Option: That the lease be amended to include an Option for a Second Renewal Term of five (5) years, commencing December 1, 2014.

Rent: The Rent for the renewal term shall be at market rent, but not less than the expiring rent.

Other: All other terms and conditions to be in accordance with the Original Lease.

The relevant report remains sensitive and cannot be released.

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