Appointment of Chief Election Officer

THAT Council exercise its authority under section 14(1) of the Vancouver Charter to appoint Janice MacKenzie as the Chief Election Officer for the 2011 Municipal Election.

The attached Administrative Report dated July 6, 2011, refers.

Freedom of the City

THAT Vancouver City Council grant the Freedom of the City Award to Milton K. Wong.

The attached Memorandum dated July 5, 2011, refers.

Lease of City-owned property situated at 150 Water Street and 151 West Cordova Street, to the Vancouver Film School Ltd.

THAT Council authorize the Director of Real Estate Services to negotiate and execute a lease (the “Lease”) to Vancouver Film School Ltd. (the “Tenant”) for the City-owned property situated at 150 Water Street and 151 West Cordova Street (Appendix A to the Administrative Report dated June 29, 2011, entitled “Lease of City-owned property situated at 150 Water Street and 151 West Cordova Street, to the Vancouver Film School Ltd.”), legally known as PID 025-244-761, Lot J, Block 5, Old Granville Townsite, Plan LMP52319 and PID 025-452-045, Lot K, Block 5, Old Granville Townsite, Plan BCP203, (the “Premises”) on the following terms and conditions:

Term: Twenty (20) years commencing the 1st day of the 1st month that is twelve (12) months following Council approval; it being noted the aforementioned 12 month period is the Tenant Fixturing Period.

Area: Rentable area is 106,000 square feet.

Basic Rent: Rent, net of property taxes and operating costs, as follows:

Years 1-5: [ … ] per annum ([ … ] per month), plus HST
Years 6-10: [ … ] per annum ([ … ] per month), plus HST
Years 11-15: [ … ] per annum ([ … ] per month), plus HST
Years 16-20: [ … ] per annum ([ … ] per month), plus HST

The Basic Rent set-out above does not include Property Taxes and Operating Costs, which are payable by the Tenant in addition to Basic Rent, and are initially estimated at $7.50 per square foot per year of rentable area. The Property Taxes and Operating Costs will increase annually at the rate of increase of the all products CPI for Vancouver, and further, will be reset every five years during the Lease term to the actual amount.

Free Rent: The Tenant will have the month of July in years 11 to 15 of the Lease term free of Basic Rent and free from Property Taxes and Operating Costs.

Improvement The Tenant will receive an improvement allowance of $20 per square
Allowance: foot, which the Tenant shall utilize to offset the Tenant’s cost of improving the Premises as well as towards the Gross Rent payable in the first twelve months of the term.

Use: The premises are to be used for general business office, classrooms, education, filming and any related or associated functions (eg. student lounge or cafeteria).

Option to Two – five (5) year options to renew on the same terms and conditions
Renew: save and except rent, which is to be based on the rent paid in the last year of the immediately preceding term, plus the lesser of 10%, or the increase in the all products CPI for Vancouver in the preceding five year period. The second renewal term will be for a period of five (5) years less one (1) day.

Real Estate The Tenant is responsible for the payment of all real estate
Commission: fees/commissions.

Security: Tenant to pay $250,000 to the City as a security deposit upon execution of the Lease. The City will also secure a General Security Agreement (“GSA”) over the Tenant’s leasehold improvements.

Landlord’s The City will pay for the removal of the existing elevator and will infill
Work: the elevator pit and repair the concrete floor so as to increase the leaseable area of the Premises. The cost to the City is estimated not to exceed $490,000.

Other Terms The Lease and GSA are to be provided on the City’s Standard Lease
& Conditions: Agreement, drawn to the satisfaction of the Directors of Legal and Real Estate Services, it being noted that no legal right or obligation is created and none shall arise until the Lease Agreement is fully executed by both parties.

All rents to be credited to the PEF.

The attached Administrative Report dated June 29, 2011, refers. (RTS 9277)

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