HomeMy WebLinkAboutCAO-06-041 - Your Kitchener Store - Renewal of Lease1
Ki~~.R
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Off)ce
REPORT
Report To: Berry Vrbanovic, Chair and Members of Finance and
Corporate Services Committee
Date of Meeting: June 12, 2006
Submitted By: Carla Ladd, CAO
Prepared By: Carla Ladd, CAO
Ward(s) Involved:
Date of Report: June 6, 2006
Report No.: CAO-06-041
Subject: "YOUR KITCHENERSTORE" - RENEWAL OF LEASE
RECOMMENDATION:
That the Mayor and Clerk be authorized to sign an agreement satisfactory to the City Solicitor to
enter into a lease for the building located at 191-195 King St. W. from its owner, for a term of
one year with a one year option to renew, such lease providing for rent of $40,000 per annum,
to provide for the continuing operations of K-W Tourism/Your Kitchener Store.
REPORT:
The City has been operating K-W Tourism and Your Kitchener Store from premises located at
191 King Street West (old PUC building) since 2004. The location has been successful and
while alternate locations were considered in 2005, we are recommending that the current
operations remain at 191 King Street West. The lease provides for a one year term with an
option to renew for a further year. Given that serious discussions are ongoing about the
creation of a new tourism service delivery model at the regional level, we believe that a short
term lease is appropriate until final decisions are made in regards to the future of tourism.
The terms of the lease remain consistent with the previous lease agreement and the building
owner has also agreed to the same lease rate as 2005.
FINANCIAL IMPLICATIONS:
$40,000 in operating costs currently included in 2006 budget.
Carla Ladd, CAO