Grants and Sponsorship – Accommodation Grants Program - Cultural and Creative Sector - Grant Recommendations and Lease Renewals 2022

Decision Maker: Council

Decision status: Recommendations Determined

Decision:

It is resolved that:

(A)        Council approve the provision of an Accommodation Grant to WE ARE WARRIORS PTY LTD for Suite 2, Ground Floor, Ultimo Community Centre, 40 William Henry Street, Ultimo to lease the property for a five-year period from September 2022 to October 2027, with the option to renew, on the following rental subsidy: 

 

Market Rental Value

Rental Subsidy

Rental Subsidy Value

Rent Payable

Year 1 2022-23

$147,000

100%

$147,000

$0

Year 2 2023-24

$151,410

100%

$151,410

$0

Year 3 2024-25

$155,952

100%

$155,952

$0

Year 4 2025-26

$160,630

100%

$160,630

$0

Year 5 2026-27

$165,449

100%

$165,449

$0

 

(B)        Council approve the provision of an Accommodation Grant to Darlinghurst Theatre Limited for Suite 3.02 and Suite 3.03, Level 3, 101 – 115 William Street Darlinghurst to lease the property for a five-year period from September 2022 to October 2027 on the following rental subsidy:

 

Market Rental Value

Rental Subsidy

Rental Subsidy Value

Rent payable

Year 1 2022-23

$108,000

94%

$101,520

$6,480

Year 2 2023-24

$111,240

90%

$100,116

$11,124

Year 3 2024-25

$114,577

85%

$97,390

$17,187

Year 4 2025-26

$118,014

80%

$94,411

$23,603

Year 5 2026-27

$121,554

75%

$91,166

$30,389

 

(C)        Council approve the provision of an Accommodation Grant to Digital Storytellers Limited for Suite 3.01, Level 3, 101 – 115 William Street Darlinghurst to lease the property for a five-year period from September 2022 to October 2027 on the following rental subsidy:

 

Market Rental Value

Rental Subsidy

Rental Subsidy Value

Rent payable

Year 1 2022-23

$95,000

94%

$89,300

$5,700

Year 2 2023-24

$97,850

90%

$88,065

$9,785

Year 3 2024-25

$100,786

85%

$85,668

$15,118

Year 4 2025-26

$103,810

80%

$83,048

$20,762

Year 5 2026-27

$106,193

75%

$80,193

$26,731

 

(D)        Council approve the renewal of the Accommodation Grant lease for tenant Antenna Documentary Institute Limited at Benledi House, 186-194 Glebe Point Road, Glebe who holds a lease expiring on 6 August 2022 and who has met the Key Performance Criteria of their Accommodation Grant, for a period of up to five years, to 6 August 2027 on the following rental subsidy:

 

Market Rental Value

Grant Subsidy

Grant Amount

Rent payable

Year 1 2022-23

$16,000

100%

$16,000

$0

Year 2 2023-24

$16,480

100%

$16,480

$0

Year 3 2024-25

$16,974

90%

$15,276

$1,698

Year 4 2025-26

$17,483

90%

$15,735

$1,748

Year 5 2026-27

$18,008

85%

$15,307

$2,701

 

(E)        Council approve the renewal of the Accommodation Grant licence for tenant Brand X Productions Incorporated at the East Sydney Community Arts Centre, 225-245 Palmer Street, Darlinghurst who is currently on a holdover provision following licence expiration on 26 July 2022, and who has met the Key Performance Criteria of their Accommodation Grant, for a period of five years ending 5 September 2027 on the following rental subsidy:

 

Market Rental Value

Grant Subsidy

Grant Amount

Rent payable

Year 1 2022-23

$87,000

88%

$76,567

$10,433

Year 2 2023-24

$89,610

88%

$78,864

$10,746

Year 3 2024-25

$92,298

84%

$77,530

$14,758

Year 4 2025-26

$95,067

80%

$76,065

$19,002

Year 5 2026-27

$97,919

76%

$74,433

$23,486

 

(F)        authority be delegated to the Chief Executive Officer to correct minor errors to the matters set out in this report, noting that the identity of the recipient will not change, and a CEO Update will be provided to Council advising of any changes made in accordance with this resolution; and

(G)       authority be delegated to the Chief Executive Officer to negotiate, execute and administer relevant agreements on terms consistent with this resolution and in accordance with the Grants and Sponsorship Policy.

Carried unanimously.

X079173.001

Report author: Danielle Tuwai

Publication date: 22/08/2022

Date of decision: 22/08/2022

Decided at meeting: 22/08/2022 - Council

Accompanying Documents: