In-camera Council meeting released decisions and reports
September 18, 2018

Updated May 20, 2022

Lease of office premises –500 West Broadway OR 525 W 8th Avenue

A. THAT Council authorize the Director of Real Estate Services to negotiate, and execute a legally binding lease agreement for a ten (10) year term (the “Lease”) on material terms to be approved by the General Manager of Real Estate and Facilities Management, including the maximum annual operating budget costs (including Net Rent, Operating Costs and Taxes) set out in Appendix A of the Administrative Report dated August 31, 2018, entitled “Lease of office premises – 500 West Broadway OR 525 W 8th Avenue, Vancouver, B.C. by City of Vancouver” (the “Maximum Rent Envelope”), for approximately 41,000 sq. ft. of office accommodation within the City Hall Precinct at either:

1) 500 West Broadway

the 3rd, 4th, 5th, 6th, and 7th floors of the Building that is to be constructed and located at 500 West Broadway, Vancouver, B. C., legally described as PID: 030-482-402, Lot 1, Block 360, District Lot 526, Group 1, New Westminster District Plan EPP78329 (the “500 Premises”), on substantially the terms and conditions as outlined in Appendix A of the above-noted report.
(the “500 Lease”)

OR;

2) 525 West 8th Avenue – CityLink

the 2rd, 3rd, 4th, 5th, and 6th floors of the CityLink Building that is to be constructed and located at 525 West 8th Avenue, Vancouver, B. C., legally described as PID: 030-553-806, Lot 1, Block 320, District Lot 526, Group 1, New Westminster District, Plan EPP82839 (the “CityLink Premises”), on terms and conditions as outlined in Appendix B of the above-noted report.
(the “CityLink Lease”)


Funding for the Lease will be brought forward as part of the 2020 operating budget process.

B. THAT, subject to approval of A above, Council approve a capital project and corresponding multi-year capital project budget of up to s.17(1)
(the “Maximum TI Envelope”) for the Tenant Improvements, furniture, IT, and moving costs at either 500 Premises or CityLink Premises; source of
funding to be the Capital Facilities Reserve, to be added to the 2015-2018 Capital Plan. Expenditures for this project in 2018 will be managed within
the current approved 2018 Annual Capital Expenditure Budget; expenditures for subsequent years will be brought forward as part of the annual Capital Budget process.

The Report dated August 31, 2018, refers.

Lease Renewal of City-Owned Premises at 205 – 618 Quebec Street

 

 

Request for Further Funding and Approval to Amend Agreements for 312 Main Street Technology and Social Innovation Centre

 

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