City of Kitchener out almost $26,000 a month due to closing of Everest College
Posted Mar 3, 2015 08:11:02 AM.
This article is more than 5 years old.
The closure of the Everest College campus in Kitchener is hurting more than just students and staff, it’s taking a bite out of the city’s bottom line.
The school leases the Gaukel Street building from the city for almost $26,000 a month.
The Record reports, it no longer has to pay its rent after bankruptcy trustees secured a court order which cancels leases.
City Councillor Scott Davey is hopeful the city will be able to find a new tenant soon and possibly even charge a higher rent.
