Ottawa Public Library Board
ACTION SUMMARY
Tuesday, June 17, 2014, 12:00
4th
Floor Boardroom, Sir Richard Scott Building, 191 Laurier Avenue West
IN CAMERA |
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OPLB-2014-0060 |
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That the Ottawa Public Library
Board move in camera in accordance with section 16.1
(4)(c) Public Libraries Act, R.S.O. 1990, CHAPTER P.44, to discuss a proposed or pending acquisition or disposition of land by the
board. |
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- CARRIED |
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191
LAURIER AVENUE/120 METCALFE STREET – MAIN LIBRARY – LEASE RENEWALS |
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THAT THE OTTAWA PUBLIC
LIBRARY BOARD recommend that Council: 1.
Approve the increase in revenue rent for the air rights above
the Main Library located at 120 Metcalfe Street to $286,000 plus HST per
annum for the term commencing July 1, 2014 and ending June 30, 2024. The total revenue over the 10-year term
will be $2,860,000 plus HST; 2.
Approve the increase in revenue rent for the parking garage
below the Main Library located at 120 Metcalfe Street to $230,000 plus HST
per annum for the term commencing July 1, 2014 and ending June 30, 2024. The total revenue over the 10-year term will
be $2,300,000 plus HST; and 3.
Approve the renewal of the acquisition lease for the 4th
and 5th floors of the office tower located in the air rights at
191 Laurier Avenue for a 10-year term commencing July 1, 2014 and ending June
30, 2024. The base rent for the
first five years will be $15 per square foot and for the remaining five years
the base rent will be $16 per square foot.
The estimated total base rent and operating rent for the
10-year term is $4,139,487 plus HST. |
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- CARRIED |