Lakehead University requires a new lease, but has offered a discount on rent consistent with other non-profit tenants
THUNDER BAY — The Ontario government's decision to make the Northern Ontario School of Medicine an autonomous university has led to some additional expenses for NOSM U.
According to NOSM U CEO Dr. Sarita Verma, instead of the nominal $2.00 annual lease payment that was to be in place for 30 years, Lakehead now requires NOSM U to pay about $800,000 a year. NOSM U, which relies on the province to fund 85 per cent of its operations, is embarking on a significant expansion of enrollment over the next few years.
Lakehead University provided TBnewswatch with a statement on behalf of Kathy Pozihun, vice-president administration and finance. Lakehead said it wants to build a relationship with NOSM U, "which is why we have offered them a fair lease agreement at a discount from market rates consistent with other non-profit organizations that lease space on our campus."
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