Approval of Nanaimo Yacht Club Lease Renewal - 400 Newcastle Avenue
Motion
It was moved and seconded that Council 1. set an annual market rent of $179,659 to be charged to the Nanaimo Yacht Club for the 2022-2026 lease renewal; 2. provide annual assistance of $71,863 to the Nanaimo Yacht Club, in recognition of its contribution to the community, by way of rent abatement; and 3. authorize the Mayor and Corporate Officer to execute the 2022-2026 Lease Renewal Agreement.