Item - 2015.GM5.27

The Government Management Committee recommends that:

1.  City Council authorize the amendment of a portion of the Original Authority by rescinding those previously-approved Sublease terms and conditions listed in Schedule A, Section I, and by authorizing those additional Sublease terms and conditions listed in Schedule A, Section II, attached to the report (June 12, 2015) from the Chief Corporate Officer, the General Manager, Economic Development and Culture and the General Manager, Parks, Forestry and Recreation.

2.  City Council authorize the City to enter into an amending agreement (the "Amending Agreement") to reflect the changes set out in Schedule A of the report (June 12, 2015) from the Chief Corporate Officer, the General Manager, Economic Development and Culture and the General Manager, Parks, Forestry and Recreation and on such further or amended terms and conditions as deemed appropriate by the Chief Corporate Officer, the General Manager, Economic Development and Culture, and the General Manager, Parks, Forestry and Recreation, and in a form acceptable to the City Solicitor.

3.  City Council authorize, in addition to the City's regular signing officers, the Chief Corporate Officer and Director, Real Estate Services to severally execute the Amending Agreement on behalf of the City.

4.  City Council authorize the Chief Corporate Officer or his/her designate in consultation with the General Manager, Parks Forestry and Recreation or his/her designate, to administer and manage the Amending Agreement including the provision of any consents, approvals, notices and notices of termination provided that the Chief Corporate Officer may, at any time, refer consideration of such matters (including their content) to City Council for its determination and direction.

By adopting (as amended) Report GM28.10 on April 1, 2 and 3, 2014 and Motion MM55.51 on August 25, 2014 (collectively the "Original Authority"), City Council approved the proposed plans and principle terms and conditions of a long-term sublease agreement (the "Sublease") with Guild Inn Estate Inc. ("GIE").  The purpose of this report is to amend some of the terms and provisions in the Sublease.