Lease of City-owned property at 2151 Burrard Street to 415075 B.C. Ltd. dba The Sports Exchange

THAT Council authorize the Director of Real Estate Services to negotiate and execute a lease (the “Lease”) with 415075 B. C. Ltd. dba The Sports Exchange (the “Tenant”) for the City-owned premises situated at 2151 Burrard Street, legally described as PID: 015-222-659, Lot 7, 8, 9, south 40 feet of Lot 10, Lot A (Explanatory Plan 5233) Lot 14 except ROW, block 267, District Lot 526, Plan 590 (see Appendix “A” to the Administrative Report dated March 18, 2013, entitled “Lease of City-owned property at 2151 Burrard Street to 415075 B. C. Ltd. dba The Sports Exchange”), on the following terms and conditions:

Term: Five (5) years commencing June 1, 2013.

Area: Rentable area of approximately 7,000 square feet (the “Premises”).

Gross Rent: Rent, inclusive of operating costs and property taxes as if levied:

s. 17(1) (d) (e) & (f) and s. 21(1)

Use: Retail premises, with ancillary offices.

Option to Renew:

One – five (5) year option to renew on the same terms and conditions save and except rent, which is to be negotiated at market rates. If fair market rates cannot be settled by mutual agreement, then the parties may elect to arbitrate the issue to determine the market rental value of the Premises.

Other Terms & Conditions:

The Lease will be based on the City’s current standard form of lease for commercial tenants. Terms and conditions of the Lease are to be drawn to the satisfaction of the Directors of Legal Services and Real Estate Services, it being noted that no legal right or obligation shall arise or be created until execution of the Lease.

All rents to be credited to the Property Endowment Fund (PEF).

The Administrative Report dated March 18, 2013, refers.

 

Lease of City-owned property at 1581 West 4th Avenue to P.S. Motors Ltd.

THAT Council authorize the Director of Real Estate Services to negotiate and execute a lease (the “Lease”) with P.S. Motors Ltd. (the “Tenant”) for City-owned premises situated at 1581 West 4th Avenue, legally described as PID: 009-029-851, Lot A & B, Block 240, District Lot 525, Plan 11837 (see Appendix “A” to the Administrative Report dated March 19, 2013, entitled “Lease of City-owned property at 1581 West 4th Avenue to P.S. Motors Ltd.”), on the following terms and conditions:

Term: Five (5) years commencing January 1, 2013.

Area: Rentable area of approximately 4,795 square feet (the “Premises”).

Gross Rent: Rent, inclusive of operating costs and property taxes as if levied:

s. 17(1) (d) (e) & (f) and s. 21(1).

Option to Renew:

One - five (5) year option to renew on the same terms and conditions except rent, which is to be negotiated at market rates.

Use: The Premises are to be used for auto sales, repairs and service.

Termination: The Landlord shall have the right to terminate the Lease upon twelve (12) months written notice at any time during the Term.

Other Terms and Conditions:

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

All rents to be credited to the Property Endowment Fund (PEF).

The Administrative Report dated March 19, 2013, refers.

 

E-Comm Board Appointment for 2013-2014 Term

THAT Council appoint Dr. Penny Ballem as the City’s representative to the E-Comm Board of Directors for the 2013-2014 term.

The Administrative Report dated April 18, 2013 , refers.

 

Appointments to the Property Tax Policy Review Commission

THAT Council appoint the following individuals to serve on the Property Tax Policy Review Commission (“PTPRC”) as set out in the Terms of Reference (Appendix A to the Administrative Report dated April 22, 2013, entitled “Appointments to the Property Tax Policy Review Commission”), effective immediately:

• Dr. Stanley W. Hamilton (Commission Chair)
• Dr. Enid Slack
• Mr. Peter Adams.

The Administrative Report dated April 22, 2013 , refers.

 

Lease of City-owned property situated at 2131 Burrard Street to Lever Arms Service Ltd.

THAT Council authorize the Director of Real Estate Services to negotiate and execute a lease (the “Lease”) with Lever Arms Service Ltd. (the “Tenant”) for the City-owned premises situated at 2131 Burrard Street, legally described as PID: 015-222-659, Lot 7, 8, 9, south 40 feet of Lot 10, Lot A (Explanatory Plan 5233) Lot 14 except ROW, block 267, District Lot 526, Plan 590 (see Appendix “A”), on the following terms and conditions:

Term: Five (5) years commencing July 1, 2013.

Area: Rentable area of approximately 5,015 square feet (the “Premises”). Gross Rent: Rent, inclusive of operating costs and property taxes as if levied:

Year 1: s.17(1) per annum (s.17(1)), plus GST.

Year 2: s.17(1) per annum (s.17(1)), plus GST.

Year 3: s.17(1) per annum (s.17(1)), plus GST.

Year 4: s.17(1) per annum (s.17(1)), plus GST.

Use: Retail premises, with ancillary offices.

Option to Renew: One – five (5) year option to renew on the same terms and conditions save and except rent, which is to be negotiated at market rates. If fair market rates cannot be settled by mutual agreement, then the parties may elect to arbitrate the issue to determine the market rental value of the Premises.

Other Terms And Conditions: The Lease will be based on the City’s current standard form of lease for commercial tenants. Terms and conditions of the Lease are to be drawn to the satisfaction of the Directors of Legal Services and Real Estate Services, it being noted that no legal right or obligation shall arise or be created until execution of the Lease.

All rents to be credited to the Property Endowment Fund (PEF).

The Report dated March 28, 2013, refers.

* * * * *