Withrow Common (formerly Queen Elizabeth Executive Offices) Lease

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The decision

2019-09-19 · Board of Governors of Exhibition Place · adopted

As filed

The Board of Governors of Exhibition Place: 1. Subject to obtaining the necessary City of Toronto authorization, approved a new lease (the "Lease") between the City of Toronto, as landlord (the "Landlord"), Canadian National Exhibition Association (CNEA), as tenant (the "Tenant"), and the Board, for a term of five (5) years commencing October 31, 2020 and ending October 30, 2025, substantially on the terms and conditions set out in Appendix "A" and Confidential Attachment 1 to the report (September 5, 2019) from the Chief Executive Officer, Exhibition Place and such other terms and conditions deemed appropriate by the Deputy City Manager, Corporate Services (the "DCM"), the Chief Executive Officer, Exhibition Place (the "CEO") and in a form satisfactory to the City Solicitor .

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2. Authorized the Chief Executive Officer, Exhibition Place to request the necessary City of Toronto authorities to approve and enter into the Lease. 3. Directed that Confidential Attachment 1 to the report (September 5, 2019) from the Chief Executive Officer, Exhibition Place remain confidential in its entirety and not be released publicly as it pertains a proposed or pending acquisition or disposition of land by the City and the Board.

On the agenda

As the city filed it

The Board and the Canadian National Exhibition Association (CNEA) (the "Tenant") entered into a lease for the Queen Elizabeth Executive Offices (renamed Withrow Common) and certain ancillary areas dated November 1, 2016, which expires on October 30, 2020 (the "Existing Lease"). Since the Tenant took possession of Withrow Common in 2016, the Tenant has completed significant renovations in the leased premises as follows:

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- The CNEA invested in excess of $300,000 in leasehold improvements - Reception area, lobby and central common area, painting, kitchen, flooring, washrooms and lighting - Leasehold improvements concentrated on "green" initiatives and where possible eco-friendly choices were utilized in paint, lighting and flooring finishes.

Staff recommended

The Chief Executive Officer recommends that: 1. Subject to obtaining the necessary City of Toronto authorization, the Board approve a new lease (the "Lease") between the City of Toronto, as landlord (the "Landlord"), Canadian National Exhibition Association (CNEA), as tenant (the "Tenant"), and the Board, for a term of five (5) years commencing October 31, 2020 and ending October 30, 2025, substantially on the terms and conditions set out in Appendix "A" and Confidential Attachment 1 and such other terms and conditions deemed appropriate by the Deputy City Manager, Corporate Services (the "DCM"), the Chief Executive Officer of the Board (the "CEO") and in a form satisfactory to the City Solicitor .

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2. The Board authorize the Chief Executive Officer to request the necessary City of Toronto authorities to approve and enter into the Lease. 3. The Board direct that Confidential Attachment 1 to this report remain confidential in its entirety and not be released publicly as it pertains a proposed or pending acquisition or disposition of land by the City and the Board.

On the record

The item as the City filed it

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