Title Area  

Friday,
April 30, 2004

Application Deadline for first round of space allocation

Facility:

Sadleir House (751 George St. N.)

Formerly part of the Peter Robinson College of Trent University.
One of the two founding colleges of Trent.
The whole building meets current fire and building codes.
The building is well wired for telephone and CAT5 (ethernet).

We are discussing pursuit of historic building designation

Sold by Trent University:

(including North House, Reade House, The Cottage, and Townhouses)
for $1.93M

Mortgage on Property:

~$1.73M

Lease Back Agreement between University and Owners:

$200K/year for three years for the Townhouses

Purchase Price:

$665,000, including Sadleir House and South Lawn

Closing Date:

Friday, February 27, 2004

Complications:

We are seeking capital funding to pay the down-payment and start-up costs.

Building Repairs: a repair budget is being initiated to estimate the costs associated
with immediate repairs and upgrades to be undertaked upon possession.

Financing secured

First Mortgage: $550,000

Aprox. 6000 FT Students in '03-'04 @ $22/yr = ~$132,000/yr
[with higher enrolment in subsequent years]

03/04/04

(Re)Opening Ceremonies

27/02/04
4:00pm

Deal closes followed by celebratory gathering.

26/02/04

Meeting of the Trustees
First meeting of the P.R. Community and Student Association(PRCSA)

23/02/04

Meeting of the Trustees

19/02/04

P.R. Community and Student Association (PRCSA) was incorporated on 19 Feburary 2004 with the Ontario Corporation Number 1607850>

12/02/04

Space Allocation meeting with student groups - Final application

08/02/04

Meeting of the Trustees
It was noted that a further $60,000 to $100,000 in finaning should be procured to fund the property purchase, as well as upgrades and operations to the year-end.

The Executive of the Trust is authorised to execute the closing of purchase for 751 George Street with title to be set in the name of the corporation to be incorporated.

It was noted that City of Peterborough severance approval may not be completed by the closing date, and that although this does represent some form of risk, it is not a significant risk, and closing shall proceed.

the proposed by-laws were approved for submission for incorporation.

27/01/04

General Information and Planning Meeting
Private Dining Room - Traill Colleg (Scott House).

23/01/04

Meeting of the Trustees
Planning for General Information and Planning Meeting

12/01/04

Meeting of the Trustees

(aproximately this date)Ad Hoc Presidential Advisory Committee on Student Space Issues formed.
8 elected student leaders:
5 from the residential college cabinets
1 each from TCSA, JBCSA and GSA.

08/12/03

City of Peterborough’s Committee of Adjustment
The severance was granted, with the following stipulations:

i) a right of way on the northern edge of the property was granted, in favour of 755 George St. (North House).
ii) 751 George Street North, with the South Lawn was severed, with the southern lot line drawn 30 metres south of Sadleir House.
iii) no right of way was granted in relation to the southern property line.
iv) the reduced parking space size requirements were approved v) the increase in commercial office space use was granted.
vi) no variance was granted in relation to the landscaped open space requirement for South Lawn.
vii) the severance is conditional upon conveyance of a 3 metre road widening on the east side of the property, with the option for a lease-back agreement from the City

08/12/03

At present pledges totaling approximately $100,000 have been made by individuals towards the purchase.

08/12/03

Click Here to Go to 2003