In-camera Council meeting released decisions and reports
July 7, 2015

Lease of City-owned Property located at 2633 Kaslo Street to Trinity Fashions Ltd.

THAT Council authorize the Director of Real Estate Services to negotiate and execute a lease (the “Lease”) with Trinity Fashions Ltd. (the “Tenant”) for Cityowned premises situated at 2633 Kaslo Street, as shown on Appendix A of the Administrative Report dated June 10, 2015, entitled “Lease of City-owned Property located at 2633 Kaslo Street to Trinity Fashions Ltd.”, legally described as PID: 009-551-581; Lot 2 South ½ of Section 35, THSL Plan 9744 (the “Subject Property”), on the following terms and conditions:

Term: Two (2) years commencing as of April 1, 2015.

Area: Rentable Area of approximately 21,080 square feet as shown on Appendix A of the Administrative Report (the “Premises”).

Rent: A total rent, inclusive of operating costs and utilities, of s.17(1) per annum (s.17(1) per sq. ft.) for Year 1 and s.17(1) per annum
(s.17(1) per sq. ft.) for Year 2.

Free Rent: Total rent shall be waived for the s.17(1) as a rental incentive to the Tenant.

Use: The Premises are to be used for garment manufacturing and related uses.

Option to Renew: One (1) option to renew for a further term of two (2) years on the same terms and conditions except total rent, which is to be negotiated at the then current market rates.

Termination Clause: The Landlord shall have the right to terminate the Lease upon providing the Tenant with a twelve (12) month written Notice of Termination at any time during the term.

Other Terms & Conditions: The Lease is to be provided 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 and Real Estate Services, it being noted that no legal right or obligation will be created and none shall arise until the Lease is fully executed by both parties.

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

The Report dated June 10, 2015, refers.

Sale of City-owned land located at 1733 East 18th Avenue

A. THAT Council authorize the Director of Real Estate Services to enter into a sole source contract of purchase and sale (the “Sale Agreement”) with
Cressey Projects Corporation (“Cressey”) for the sale to Cressey of the City-owned lands at 1733 East 18th Avenue, as shown on Appendix A of the Administrative Report dated June 8, 2015, entitled “Sale of Cityowned land located at 1733 East 18th Avenue”, legally described as PID: 009-908-200, Lot 2, Block A, District Lot 753, Plan 1795 (the “Subject Property”). Such contract is based on the following terms and conditions:

i. the City to sell the Subject Property to Cressey for a price of s.17(1) net of closing costs and taxes (the “Purchase Price”); and
ii. the sale is subject to the Subject Property being consolidated with adjoining properties and the consolidated property being
rezoned;

FURTHER THAT, no legal rights or obligations will arise or be created between Cressey and the City unless and until all legal documentation is
fully executed on terms and conditions that are to the satisfaction of the Directors of Real Estate and Legal Services.

B. THAT a Council decision to enter into a Sale Agreement with Cressey will not in any way limit Council or the City and its officials, including the
Approving Officer, in exercising their discretion with respect to any related rezoning or permits.

The Report dated June 8, 2015, refers.

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