TAKE NOTICE that pursuant to the provisions of Section 24, 26, and 94 of the Community Charter, the City of Prince George (the “City”) proposes to dispose of an interest in the following land to the Prince George Downtown Business Improvement Association (“DBIA”):
PID: 005-690-331
Parts of Lots 10, 11, and 12, Block 19, District Lot 343, Cariboo District Plan 1268
(the “Lands”), having a civic address of 1406 2nd Avenue, Prince George, BC, as shown outlined in yellow on this notice.
The proposed disposition is for the lease (the “Lease”) of the Lands and the building located on the Lands between the City and DBIA. The Lease will commence on March 1, 2025, and will expire on February 29, 2028, with an option to extend where mutually agreeable for one (1) renewal term of an additional three (3) years. The consideration to be received by the City of Prince George is rent in the amount of $91,944.00 for the initial term and extension term of the lease, inclusive.
TAKE NOTICE that in accordance with Section 24 and 94 of the Community Charter, the City’s intention is to provide a form of assistance to DBIA as the value of rent for this lease is an amount that is less than fair market value.
Questions?
Contact: Development Services: devserv@princegeorge.ca | 250.561.7611 | 2nd Floor, City Hall
View the notice [HERE]