In accordance with Sections 26 and 94 of the Community Charter, the City of Vernon hereby advises of its intent to amend and renew the lease for Management Unit 8 with Pacific Regeneration Technologies, used for silviculture and as part of the spray irrigation program, for a thirty-five year term commencing January 1, 2024. The lease will be amended to change the area of the lands to the 57.5 acres as changed in 2013 with a legal description of: A portion of Lot 2 Plan KAP35350 Section 19, Township 9 ODYD that is north of Bench Row Road, and Lot 1 Plan KAP36591, Section 19, Township 9 ODYD, and a portion of Lot 2 Plan KAP36591, Section 19, Township 9, ODYD. Base rent lease rates for the first five years are as follows: 2024 - $18,213.58, 2025 - $18,819.56, 2026 - $19,425.54, 2027 - $20,956.52, 2028 - $21,562.50, and each subsequent five years of the term will be determined by appraisal.
For inquiries regarding the amendment and renewal lease, please contact Mr. Brett Bandy, Real Estate Manager, at 250-550-3245.