FACILITIESRECOMMENDED

City of Regina Executive Committee Meeting Minutes April 2026

REAL Campus Sale and Lease Proposed to Brandt

transfer of up to $300,000 from Land Development Reserve for transaction and closing costs; sale and lease proceeds not quantifiedCity of ReginaBRANDT PROPERTIES LTDApril 29, 2026

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Description

The Executive Committee recommended that City Council approve a Master Purchase Agreement for the sale and lease of portions of the REAL campus to Brandt Properties Ltd., including a five-year conditional municipal and library property tax exemption. The proposal authorizes up to $300,000 from the Land Development Reserve for 2026 transaction and closing costs, with net sale proceeds returned to the reserve.

Contract Details

Contract Amount

transfer of up to $300,000 from Land Development Reserve for transaction and closing costs; sale and lease proceeds not quantified

Vendor

BRANDT PROPERTIES LTD

Agency

City of Regina, Canada

Contract Type

FACILITIES

Document Date

April 29, 2026

Contract Term

Includes five-year conditional property tax exemption upon closing; other term details per Master Purchase Agreement not specified in minutes

Renewal Info

Property tax exemption proposed for a five-year term contingent on the closing of the sale transaction, execution of definitive tax exemption agreements, and continued operation by Brandt under the Master Purchase Agreement; additional renewal options not detailed.