City Lease Rates at Max Turyk Community Centre
May 17, 2016
As there is some misinformation in the public regarding lease rates at Max Turyk Community Centre the following information is provided as a matter of public record:
The current Max Turyk Community Centre lease rate is $10.00 per sq.ft. for all renters. This rate has been in effect since 2011 and is a reduction from 2010 rates. In 2015, leases at Max Turyk Community Centre were adjusted to include the provision of storage space in their lease agreements.
In the fall of 2015, as a result of BC Assessment enforcement, all businesses in Max Turyk Community Centre became subject to paying property taxes on their leased space. BC Assessment regulations require that businesses operating in a municipal facility must pay property taxation on their portion of leased property unless they are granted a Permissive Tax Exemption by the municipality. In accordance with the BC Community Charter, Permissive Tax Exemptions cannot be granted to “For Profit” businesses. Non-Profit groups leasing space in Max Turyk Community Centre applied for and continue to receive the tax exemption. The impact to “For Profit” lease holders at Max Turyk Community Centre is approximately $700 to $900 annually.
Council appreciates the hard work, dedication and personal commitment of the many business owners who choose to operate their businesses in Fernie. The City has, and continues to enjoy, a very positive landlord/tenant relationship with all our tenants.
Thank you.
City of Fernie
