HomeMy WebLinkAboutTR-5-92 TOWN OF NEWCASTLE
REPORT File 39o/.Z),
Res.
-- r -�. By-Law
METING: GENERAL PURPOSE AND ADMINISTRATION COMMITTEE
DATE: January 6, 1992
REPORT #: TR-5-92 FILE #:
SUUCT: LEASE AGREEMENT = OSWENDA INVESTMENTS LIMITED
TOURIST AND INFORMATION CENTRE - FLYING DUTCHMAN HOTEL
RECOMMENDATIONS:
It is respectfully recommended that the General Purpose and
Administration Committee recommend to Council the following:
1. THAT Report TR-5-92 be received;
2 . THAT the attached By-Law be passed, authorizing the
Mayor and the Clerk to sign a lease renewal agreement
with Oswenda Investments Limited; and
3 . THAT Oswenda Investments Limited be advised of
Council's actions .
BACKGROUND AND COMMENT:
The Town of Newcastle currently leases space at the Flying Dutchman
Hotel for the Tourist and Information Centre at a monthly rate of
$250 . 00 . The current lease expired December 31, 1991.
Oswenda Investments Limited have proposed to renew the lease agreement
for a further three (3) years in accordance with all the terms and
conditions of the original lease dated May 1, 1990 with an increase of
$25 . 00 per month, per annum, as outlined below:
YEAR ONE: January 1, 1992 to December 31, 1992 - $275 . 00/month
YEAR Two: January 1, 1993 to December 31, 1993 - $300 . 00/month
YEAR TmiEE: January 1; 1994 to December 31, 1994 - $325 .00/month
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TR-5-92
LEASE AGREEMENT - OSWENDA INVESTMENTS LIMITED
TOURIST AND INFORMATION CENTRE - FLYING DUTCHMAN HOTEL
The above monthly rates for 1992, 1993 and 1994 reflect an approximate
increase per annum of 10%, 9% and 8% respectively.
Staff have reviewed the proposal and respectively recommends that the
proposed lease renewal agreement be accepted effective January 1,
1992 . A copy of the proposed renewal is attached marked Schedule "B" .
Respectfully submitted, Recommended for presentation
to the Committee,
TL Z/--f
M e Marano, H.B.Sc . , AMCT. , Lawrence / otseff,
Treasurer. Chief A - strative Officer.
Franklin Wu,
Director of Planning and Development
LAB/hjl
Attachments
NOTE: Original lease agreement on file in the Treasury Department.
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THE CORPORATION OF THE TOWN OF NEWCASTLE
BY-LAW #92-
Being a By-Law to authorize the execution of an offer to Lease
Agreement with Oswenda Investments Limited in respect of a lease
agreement for premises situated at 143 Duke Street, Bowmanville
(Tourist Information Centre)
b
THE CORPORATION OF THE TOWN OF NEWCASTLE HEREBY ENACTS AS FOLLOWS:
That the Mayor and the Clerk are hereby authorized to execute, on
behalf of the Corporation of the Town of Newcastle, and seal with
the Corporate Seal, an offer to Lease Agreement between Oswenda
Investments Limited and said Corporation, which is attached
hereto and marked Schedule "B".
By-Law read a first and second time this day of January 1992.
By-Law read a third time and finally passed this day of
January 1992.
Mayor
Clerk
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