HomeMy WebLinkAboutCRPS-06-001 - Execution of Documents - Request to Lease Vacant Land on Patrick StreetReport To: Councillor B. Vrbanovic and Members of Finance & Corporate
Services Committee
Date of Meeting: January 9, 2006
Submitted By: L. Proulx, Director of Facilities Management
Prepared By: C. Riordan, Administrative Assistant
Ward(s) Involved:
Date of Report: December 15, 2005
Report No.: CRPS-06-001
Subject: Execution of Documents -Requesting to Lease Vacant Land
on Patrick Street
RECOMMENDATION:
That the Mayor and Clerk be authorized to execute a leasing agreement related to
report CRPS-06-001, satisfactory to the City Solicitor for the leasing of Lots 29-31 on
Patrick Street to Sylvain Trucking for the purpose of parking their vehicles.
BACKGROUND:
The subject lands (see maps attached) measuring 100 ft. by 105 ft. was previously
leased to Boehmer's Limited. Their lease terminated in the summer of 2005.
REPORT:
Sylvain Trucking occupy adjacent lands and are looking for additional space to park
trucks and trailers. We estimate the lands would provide parking for approximately
twenty trailers.
The appraisal prepared in November 2005 indicates the market value of $15,500 per
acre. This land is 0.241 acres and should bear $3,750 revenue annually. Sylvain
Trucking indicated they were prepared to pay fair market value for the lease subject to a
5 year term. The lease proposes an annual rate of $5790 which includes rental and
municipal taxes.
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December 22, 2005
Page 2
FINANCIAL IMPLICATIONS:
Revenue will increase by approximately $5790 annually, a portion of which would be
appropriated to property taxes.
COMMUNICATIONS: NIA
CONCLUSION: N/A
L. Proulx, CET, CMM III
Director of Facilities Management