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Council Agenda Item Coverr <br />________________________________________________________________________ <br />MEEETING DATTE: <br />April 12, 22010 <br />AG <br />EENDA ITEMM TITLE <br />e #1 Land Lease Bill <br />:Fire Hous##9070 <br />AG <br />EENDA SECTTION: <br />New Businness <br />CA <br />NN THIS ITEMM BE RESCCHEDULEDD? : <br />Yes <br />BACCKGROUNDD REVIEW: <br />Washington Unniversity is providing the City lannd to constrruct a new Fire Housse <br />#1aat the corner of Vernon and Westgate. Baased uponn the reporrt from Reaal <br />regardingg <br />Estatte Analystss Limited tthe above property,WU will bbe recordin <br />contrribution exppense in the amount oof $183,0000. This will be amortized over 775 <br />The parae <br />yearss. The 75 yyear lease iss being proovided at $11 per year.mmeters of th <br />leasee were prevviously appproved by CCouncil.Thhe environmmental asseessment haas <br />bee completed did not identify an environental conerns. The subdivisin <br />nnyymmccoo <br />was approved on Fe <br />platbruary 8, 22010. Mr. MMartin revieewed the leease and iis <br />comffortable prooceeding wiith the docuument in itss current forrm. <br />REOMMENDTION: <br />CCAA <br />proval <br />App <br /> <br />