HomeMy WebLinkAboutPF 04/99/ �
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�' � REPORT TO COUNCIL
FROM: Bverctt Bunlsma DATE: March 23,1999
Dircctor of Pnrks & Facilitics
REPORT NUMBER: PF 04-99
SUBJECT: Lense Agrcemcnt — Pickcring Driving Range
Lease TransfedAssignment
Filc: CO1000
RECOMMENDATION;
Council should pass a resolWion authorizing that the Icase agrcement with Shane Cobum
to be nssigned l0 1317970 Ontario Inc., a company whose principal owner at present is
Shane Cobum.
ORIGIN: Request from Shane Cobum (Oral)
AUTHORITY: Municipai Acl R.S.O. 1990, chaplcr M45, subsection 191 (I )
FINANC[AL IMPLICATIONS:
Same as original lease npproved in February 1999
Gross rent per ycar ($17,500 x 3 years) 552,500
and really tuxcs (amount to bc determined)
EXECUTNE SUMMARY:
Not applicablc
� BACKGROUND:
Council approved Bylaw No, 5455/99 nuthorizing the execution oFa lease betwcen
The Corporation of the Town of Pickering nnd Shane Cobum for thc Pickering
Driving Range.
Section 7(2) of that Icase allows for thc assignment of Ihe lease to, another party
subjcct lo the upproval of ihc Town, A new By-law is not required,
Shane Cobum has requcsted nssignmcnt of thc lease to 1317970 Onlario Inc., which
is a recently inco�pornted company whose principal owncr at prcscnt is Shnne
Cobum.
Cobum further edviscs thut said compnny is anticipatcd to bc sold in thc ncar tilurc,
however this will not requirc further changcs to thc Icnsc agrccmcnt as Ihe Icnsc will
rcmafn wilh thc aemc compnny.
• Repod to Council Date: Mnrch 23,1999
Subject: Lwsc Agrcament — Shnne Cobum Pagc: 2
BACKGROUND:
(continued)
Tha new principals of thc company ure anticipated to be Messrs. Dan, Juck and
lohn Lally who have operated various golf ente�prises in und nround thc Durhwn
Region urea for some time.
The Department of Pazks & Facilities has revicwed this Report with Legal Services
and nll proper documentntion is attached for infortnation.
As all financial obligations remain unchnnged, the Department of Pnrks & Facilities
recommends npprovnl of tha lease assignment to 1317970 Ontnrio Inc.
ATTACHMENTS:
1. Copy of Ariicles of Inwrporation
2, Localion Map
Prepared & Approvcd by:
vcrett Buntsma
Dircetor of Purks & F�cilitics
• Recommendcd for the consideration of
Pickering Town Council
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nnric�ES oF ntconPOnnTiou
STi1lUTS CONSi1iUiIFS
1, 'Iha nnwo ol Iho coipurnllon Is: Oi�n�miniliun satiafo da la socictd:
-- c,� ti :r.n; ii.'i' u��_ �i c-` =1. �— -I
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2. Tho aJJicss al Iho iupisteic;l ollice hlmsm Ju siCga tacinl:
790 KIt05`IQ DI.VU�
(Stieel6 Number, or q.fl. fluniLor L II 61id�i•011ica tlwiJing qivo (toom UoJ
(liuo cl nwndro, oc numd�o do h ll./i. el, s'J s'npd Jbn Qdif,cn A burraur, numt�o du bwanuJ
PICKFIIING� ON';��i._ _. I,_Ll_L1iI_1.�.L�
(Nmnc ol f.lunidpaidy oi P�!i 011irc� (P:stal Codol
(Nont a'a la mw�ie�pnd�tb nu Au bwcau Jc pnsle) jCoJo posla�)
9. Idunibc� (ur uJniinwn nnJ maximmn numbcr) ol rrm��b�u (eu nnm6res minfrnnl ol maainmlJ
direcloro le: . J'aa+uin:shareu�s:
Fii.nimum of onc - uiaxim�.�m uC t�:cnly,
A. 'Iha li�sl Jiroctur(s) Is/am: � IYrm%crjsJ adnuuiehatcur(sg fln:iJr.nt
Canadimi
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fiisl mm�o, Initlnb mid sumnnm flesiJanca ndJicss, pivinp Shcct d No. or fl.11. tlo.. }y; ur Ilo
Prduom, (nifi�dos rl nom do Lvr�illv Idunicipaiit� nnA Postal L'uJc . I�GciJem
luhrssa percwuicCC, V taiqui; h mr rl lo nun:i��. !o conndicn
nun�Aro da la A.lI, lu nom d� la n,unttpnG:' rt fo ooJa OuVIlnn
poslal
su,�ne cnnr.i,rs couuHN I �90 f;r,usno ui.vu. Picr.euix�� nu t.tu icb I vis
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