Summary#
Montréal city council approved a second amendment to the City’s lease to Cytec Canada inc. It extends the lease for two years, from March 1, 2026, to February 29, 2028, for offices at 7140 rue Albert-Einstein in the Saint-Laurent borough. City staff say the lease fits the business centre’s purpose and brings in revenue.
- The lease covers rooms 103, 105 and 111, a total of 609 square feet, for office use.
- Cytec will pay $48,000 in rent, excluding taxes.
- The tenant must also pay the property tax directly to the City; the amount varies with the property’s municipal assessment.
What it means for you#
- Cytec Canada inc.: The company can continue renting the offices for the additional two-year term. It must pay rent, applicable taxes and the variable property tax. It does not have to pay the administrative fee again because it paid that fee under an earlier agreement.
- City taxpayers: The City will receive rent and property-tax payments. The decision does not directly change residents’ taxes or services.
Money#
The lease brings in $48,000 in rent, excluding taxes; the decision materials do not give an estimate of the City’s costs.
- The materials list $2,400 in GST and $4,788 in QST, for total rent payments of $55,188 including those taxes.
- The rent is scheduled as $20,000 in 2026, $24,000 in 2027 and $4,000 in 2028.
- Cytec’s property-tax payment is separate from those figures and is not stated; it varies with the municipal assessment.
What is unclear#
- The decision materials do not give the amount of property tax Cytec will pay or quantify the City’s costs of managing or maintaining the space.
- The previous two-year lease for the same space had rent of $58,800 excluding taxes. The materials do not explain why the new two-year rent is lower.
Case for#
- City staff say Cytec works in industrial engineering, a sector that fits the business centre’s purpose of serving technology and scientific research businesses.
- Staff say the lease brings in revenue, and report that the rent matches the market rent based on a City property evaluation.
Case against#
- The new two-year rent is $10,800 less than the previous two-year rent for the same space. The materials do not explain the decrease, which makes it harder to assess the revenue the City is giving up, if any.