From Tori Sutton at the Stratford Gazette:
"The Stratford Shakespearean Festival has entered into a 20-year lease agreement for the Tom Patterson Theatre.
"At Monday night’s meeting, council passed a resolution to enter into the agreement, which will see Festival occupy the theatre 12 months of the year.
"The first year’s rent will be $52,710, with a five per cent increase each year, eventually climbing to $133,195.57 in 2028.
"This will be the first time the Festival has been granted sole occupancy of the building. In the past, the building has been used not only as a theatre, but a facility for the Stratford Badminton Club and local volleyball teams.
"The badminton and volleyball players have been relocated to the new Agriplex, which is currently under construction.According to background information provided by the community services department, the building generated $40,556 in rent income in 2007.
"The new agreement between the city and the Festival states the city will carry out all capital repairs or replacements, including roof repairs and structural defects. The Festival has been given the green light to renovate the lobby and washrooms at its sole cost and expense.
"The Festival is also to obtain a maintenance contract for the HVAC system and that repairs up to $5,000 be ordered and paid for by the Festival. The city will assume responsibility for any repairs over and above the amount."