FACILITIESAPPROVED

City of Regina Executive Committee Agenda Packet May 13 2026

City Endorses Sale and Lease of REAL Campus to Brandt

Up to $300,000 interim costs plus unspecified net sale proceeds and redirected operating fundsCity of ReginaBRANDT PROPERTIES LTDMay 13, 2026

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Description

Executive Committee recommended that City Council approve a major real estate transaction with Brandt Properties Ltd. for the sale and lease of portions of the REAL campus, including a negotiated Master Purchase Agreement and conditional five-year municipal property tax exemption. The deal includes up to $300,000 from the Land Development Reserve for 2026 transaction costs and redirection of operating funds and net sale proceeds.

Contract Details

Contract Amount

Up to $300,000 interim costs plus unspecified net sale proceeds and redirected operating funds

Vendor

BRANDT PROPERTIES LTD

Agency

City of Regina, Canada

Contract Type

FACILITIES

Document Date

May 13, 2026

Contract Term

Master Purchase Agreement closing in 2026 with five-year property tax exemption support; detailed term per April 9, 2026 Term Sheet and definitive agreements

Renewal Date

2031-12-31

Renewal Info

Master Purchase Agreement will define detailed lease and purchase terms; property tax exemption is proposed for five years subject to tax exemption agreements and provincial or school division approvals.