FACILITIESAPPROVED

City of Regina Council Meeting Agenda May 20 2026

City approves REAL campus sale and lease to Brandt

up to $300,000 in interim transaction-related and closing costs in 2026; all net sale proceeds to Land Development Reserve; conditional five-year municipal and library property tax exemptionCity of ReginaBRANDT PROPERTIES LTDMay 20, 2026

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Description

The City of Regina approved a major transaction to sell and lease portions of the Regina Exhibition Association Limited campus at 1700 Elphinstone Street to Brandt Properties Ltd., including associated lands, buildings, and equipment. The deal authorizes negotiation of a Master Purchase Agreement, provides for up to $300,000 in transaction costs, redirects some prior REAL funding, and grants Brandt a conditional five‑year municipal and library property tax exemption on the acquired assets.

Contract Details

Contract Amount

up to $300,000 in interim transaction-related and closing costs in 2026; all net sale proceeds to Land Development Reserve; conditional five-year municipal and library property tax exemption

Vendor

BRANDT PROPERTIES LTD

Agency

City of Regina, Canada

Contract Type

FACILITIES

Document Date

May 20, 2026

Contract Term

Five-year conditional property tax exemption; other agreement terms per Master Purchase Agreement dated April 9, 2026 (term not specified)

Renewal Info

Tax exemption is conditional on Brandt or its subsidiaries owning or leasing the property and operating it as defined in the Master Purchase Agreement; third-party taxable commercial tenancies remain taxable. Future tax exemption beyond five years would depend on future Council decisions informed by annual performance reports.