The board of Comfor Management Services Ltd. (CMSL) decided unanimously to renew 亚洲天堂 Lake Mountain Biking Association's (BLMBA) lease of a CMSL owned property on Boer Mountain last week.
BLMBA currently holds a five year lease on the property, which expires at the end of this month.
CMSL owned 亚洲天堂 Lake Community Forest Ltd., purchased the 160 acre property on Boer Mountain Road in 2006 for $85,000, specifically for the purpose of developing a mountain bike park. The property was subsequently leased to BLMBA who began developing the property in the fall of 2006.
Under the current terms of the agreement BLMBA is required to pay all property and related taxes, utilities including water, gas, heat, power, snow removal and maintenance as well as an annual license fee of $750, or the annual property taxes, which ever is greater.
According to a memorandum presented to the CMSL board, the 2011 property taxes amounted to $766.34.
CMSL executive assistant Michael Riis-Christianson suggested that for simplicity's sake the renewed agreement should require BLMBA to pay for the property taxes and utilities on the property, and do away with the requirement for an annual license fee.
"The association is a not for profit entity and is creating a valuable recreation asset for the community," he said, adding that BLMBA have completed more than $100,000 worth of work on the property. The board agreed with the suggestion.
BLMBA's renewed lease of the property will expire on Oct. 31, 2016.
