HomeMy WebLinkAboutTR-50-81 Memorandum
TO: Chairman & Members of the Finance & AWinistration Committee
FROM: Klaas Degroot, C.G.A. , Treasurer
DATE: June 24, 1981
SUBJECT: Rental of 152 Church Street (Bell Building)
ITEM: TR-50-81
Recommendation:
"That the lease on the subject property be renewed for a 3 year
term with monthly rental expense of $650.00 per month for 1.981
and $700.00 per month for 1982 and $750.00 per month for 1983.
Report:
The existing three (3) year lease on the subject building expired November
30th, 1980. The negotiation of this lease has been going on for approximately
one year with various factors contriving to make collimation prior, to this point in
time impractical .
The previous lease signed December 1st, 1977 provided for a rental payment of
$527.08 per month. The new rental rate represents a rate of $3. 10 per square
foot annually, which is very favourable to other rates available in the Town of
Bowmanville for office space.
K. Degroot.
P81-BR-1