Item - 2021.MM31.52
- City Council adopted this item on April 7, 2021 without amendments.
MM31.52 - Amendment to Below Market Rent Lease Agreement with Nia Centre For the Arts Incorporated at 524 Oakwood Avenue - by Councillor Josh Matlow, seconded by Councillor Michael Thompson
- Decision Type:
- 12 - Toronto - St. Paul's
City Council Decision
City Council on April 7 and 8, 2021, adopted the following:
1. City Council authorize the Executive Director, Corporate Real Estate Management, to negotiate and execute an amendment to the Below Market Rent Lease in respect of 524 Oakwood Avenue, originally dated April 30, 2014 and as amended on October 2, 2020, between the Nia Centre For the Arts Incorporated, as tenant, and the City of Toronto, as landlord, to permit the tenant to perform state of good repair and Accessibility for Ontarians with Disabilities Act compliance work on behalf of the landlord with an estimated value of $4,000,000, exclusive of taxes, on terms and conditions satisfactory to the Executive Director, Corporate Real Estate Management, including compliance with the City’s fair wage policies and labour trade contractual obligations, and in a form satisfactory to the City Solicitor.
Background Information (City Council)
Motions (City Council)
That Councillor Josh Matlow be permitted to add to the agenda of today's meeting an urgent Motion without Notice concerning:
Amendment to Below Market Rent Lease Agreement with Nia Centre For the Arts Incorporated at 524 Oakwood Avenue
Reason for Urgency:
This Motion is urgent as construction for leasehold improvements is already in progress and would be significantly impacted, resulting in considerable delays and additional costs to both the City and the Tenant.