Quote:
Originally Posted by Dan0myte
As both the land and property owners, CNIB can lease as much or as little space out of their building as they see fit.
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Quote:
Originally Posted by Treesplease
It may well be more cost effective for CNIB sell the park land back to Wascanna and purchase/rent space in a stucco box somewhere else in the city and preserve funding for those they are intending to help.
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Minor point of reference, since I've seen reference more than once to CNIB owning the building & land... they don't own the land, the Province owns that parcel. Granted, CNIB has a very long-term lease, but the land isn't an asset they can sell.
And I'm willing to bet the Prov has a clause preventing subletting the land... so they also aren't able to derive an income stream from moving out of Wascana & leasing their land to another entity.
As for leasing the space to whoever they want, Wascana has turned a blind eye (pun fully intended) to this because CNIB & RODS are both charities, and aren't detracting significantly from Wascana (they aren't high traffic, noisy, etc).
If, however, CNIB found a tenant interested in leasing a portion of their current building (or in a new building, for that matter), and Wascana truly objected to the leasee, they have a piece of legislation that they can use to effectively dissuade the leasee. All improvements in Wascana valued at $2,000 or more (over 12 months) are subject to approval by the WCA Board. Even minor leasehold improvements would cross that threshold in a heartbeat. Heck - even signage could cross the $2,000 threshold.
CNIB is in a tough position. The building they're in is essentially worthless. They don't own the land, so they can't sell it. Even if they did own the land, the pool of buyers would be limited based on the restrictions/approvals WCA places on all entities in the Centre
(not to mention the fact that WCA must approve all land transfers; registers and interest with Land Titles in all properties within the Centre; and has broad expropriation powers within the Centre - so a buyer would never really "own" the land).There isn't a lot of money out there for charities' capital needs - people don't like seeing money being spent on administration. I don't envy CNIB & can empathize with the position they're in.
Given all of this, it's no wonder the Brandt deal looks so sweet. I agree that having the Brandt proposal out in the open might get other parties circling the water... but I'm not sure how many of the ones that WCA would approve in the first place (aligned with the Centre's mandate) would be interested in effectively having two landlords: the Prov (land owner); and WCA.