FACILITIESAPPROVED

City of Regina Council Meeting Minutes May 6 2026

Council Approves REAL Campus Sale-Lease Deal with Brandt

up to $300,000 in 2026 transaction-related and closing costs plus unspecified net sale proceedsCity of ReginaBRANDT PROPERTIES LTDMay 6, 2026

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Description

Regina City Council approved a major transaction to sell and lease portions of the REAL District campus, including lands, buildings, and equipment, to Brandt Properties Ltd. The deal includes a Master Purchase Agreement, a five-year conditional municipal and library property tax exemption, authorization of up to $300,000 for 2026 transaction costs, and direction to place all net sale proceeds into the Land Development Reserve.

Contract Details

Contract Amount

up to $300,000 in 2026 transaction-related and closing costs plus unspecified net sale proceeds

Vendor

BRANDT PROPERTIES LTD

Agency

City of Regina, Canada

Contract Type

FACILITIES

Document Date

May 6, 2026

Contract Term

Five-year municipal and library property tax exemption period following closing, plus ongoing sale and lease arrangements per Master Purchase Agreement

Renewal Date

2031-12-31

Renewal Info

Includes a five-year conditional municipal and library property tax exemption for the purchased and leased assets; future extensions or continued exemptions will depend on annual reporting on community commitment performance measures and future Council decisions.