Appointment of Deputy Director of Finance

THAT Council appoint Ben Russell, Director of Financial Planning and Analysis, as a Deputy Director of Finance and remove Ken Bayne, former General Manager of Real Estate and Facilities, and Neal Stratton, former Director of Financial Planning and Analysis, as Deputy Directors of Finance.

Lease to St. James Community Square Society at 3214 West 10th Avenue

THAT Council authorize the Director of Real Estate Services to negotiate and execute a lease (the “Lease”) with St. James Community Square Society (the “Tenant”) upon the completion of the acquisition of the property at 3214 West 10th Avenue, as shown on Appendix “A” to the Administrative Report dated November 17, 2015, entitled “Lease to St. James Community Square Society at 3214 West 10th Avenue”, legally described as PID 013-885-545; Lot A Block 65 District Lot 540 Plan 2341 (the “Subject Property”), on the following terms and conditions:

Term: Twenty (20) years commencing upon the Closing Date of the Offer to Purchase.

Total Rent: A total rent, inclusive of payment in lieu of property taxes, of s.17(1) per annum plus applicable GST for the first, second and third year of the Term, and for it to be increased (at the commencement of each year of the remaining Term) by the equivalent to the Vancouver CPI Inflation Adjustment.

Taxes: No taxes are collected as the property is exempt.

Use: Operation of a community hub in support of providing space to local non-profit and community organizations.

Option to Renew: Two (2) options to renew for a further term of five (5) years each. At the end of the Term, the first renewal shall be subject to the City receiving a satisfactory building life cycle assessment report, and at the end of the first renewal, the second renewal shall be subject to the sole discretion of the City.

Maintenance and Repairs: The Tenant will be responsible for the operating and maintenance costs and the City will be responsible for the capital maintenance of the building, all in accordance with the Service Level Agreement in the Lease.

Washroom Improvement: The City will, in consultation with the Tenant, undertake washroom improvement works within three (3) years of the commencement date of the Lease. The Landlord’s contribution is not to exceed s.17(1) plus applicable taxes. Tenant is responsible for any additional costs. Source of the City funding will be future PEF Capital Budgets, to be approved by Council.

Other Terms and Conditions: The Lease is to be based on the City’s current standard form of Lease for this type of tenancy. Terms and conditions of the Lease are to be negotiated 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 rental proceeds to be credited to the Property Endowment Fund (PEF).

The Administrative Report dated November 17, 2015 , refers.

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