OIC Number: 2006 - 88

Date of Order: Feb 10, 2006

Statute: Surplus Crown Property Disposal Act

OIC Text: The Governor in Council on the report and recommendation of the Minister of Transportation and Public Works dated February 7, 2006, and pursuant to

Section 11 of

Chapter 452 of the Revised Statutes of Nova Scotia, 1989, the Surplus Crown Property Disposal Act, is pleased to:0 (

a) lease to the Halifax Port Authority certain lands containing approximately 5.561 acres of land, more or less, situate at Fairview Cove, Halifax, Nova Scotia, more particularly shown outlined in red on the plan attached to and forming part of the report and recommendation at a rental rate of Sixty-three Thousand Dollars ($63,000.00) per annum for the first ten (10) years of a 99-year lease and Ten Dollars ($10.00) per annum thereafter, with an option to renew the lease for a further term of 99 years based on an annual rent equivalent to 10% of the appraised value of the premises at the time of renewal.

In addition, the Tenant shall have the option to purchase the property at the Province's Book Value any time after the first ten (10) years of the lease, subject to the Parties executing a mutually acceptable Purchase and Sale Agreement and on such other terms as are satisfactory to the Minister of Transportation and Public Works; (

b) authorize the Minister of Transportation and Public Works to make and execute a Lease Agreement in such form as the Minister determines.

Department(s): Transportation and Public Works