Detailed Costs
Library Lease Proposal

Revised lease cost and maintenance costs are set forth below and are

based on Proposal "C" of Horner Developments Ltd.'s letter of June 26th, 1975

(attached):

First Floor: 1,837 sq. ft.
Second Floor: 6,600 sq- ft.

"8,437 sq. ft. Total

Revised lease cost:

énnually:

(Per July llth letter
(adjusted to include
(value of parking.

First Floor: 1,837 sq- ft.)
Second Floor: 6,600 sq- ft.) $44,378.65

Therefore, average annual cost of lease per Sq- ft. is:
$5.26

Estimated maintenance cost:

(based on figures supplied by Horner Developments Ltd.)

Monthly Annuai

Heating ; 90.00 1,080.00
Lighting & Air Conditioning 120.00 1,440.00
Janitorial (20 hrs/week) 371.00 4,452.00
Washroom supplies 14.77 177.24
Water 8.34 100.08
Garbage coliection 27.24 326.88

Taxes (@ 90¢ sq.ft.) 632.77 7,593.24
. ; _. § 1,264.12

—

Grozs_cost:

Monthly
Lease $ 3,698.22
Maintenance $ 1,264.12

An ln

$ 4,962.34
ae

Recoveries by City from Maintenance Cost:

Monthly

Taxes (55% recovered;

45% to S.D.#43) $ 348.02
Water _ 8.34
Parking (@ 17¢ sq.ft.) 119.52

and value of $300. per stall
"up front" payment ; 112.50
Recovery = § 588.38
Net Maintenance Cost. = 675.74
poe

Net Cost:

Monthly
Lease * $3,698.22
Maintenance . $675.74
: so $4,373.96

ee ene
$ 15,169.44

Annual
§ 44,378.65
§ 15,169.44

59,548.09

$39,348.07

Annual

$ 4,176.24
100.08
1,434.24

__ 1,350.00

$ 7,060.56
8,108.88 . .
=e

Annual.

$44,378.65
8,108.88

$8,108.88

$52,487.53