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Board of Governors of Exhibition Place · 2019-09-19 · 2019.EP6.16

The filed record

Agreement with Toronto Event Centre Inc.

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The decision

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

As filed

The Board of Governors of Exhibition Place: 1. Referred the item to the Chief Executive Officer, Exhibition Place with the request that he meet with the tenant, Toronto Events Centre and report back to the October 24, 2019 meeting of the Board of Governors of Exhibition Place.

On the agenda

As the city filed it

The Board and Muzik Clubs Inc. ("Muzik") entered into a lease dated February 16, 2004, for premises consisting of the Horticultural Building and a surrounding patio area which lease was subsequently assigned by Muzik to Toronto Event Centre Inc. (the "Tenant") on April 27, 2017, and which expires on February 15, 2024 (the "TEC Lease"). At its meeting of June 13, 2019 the Board approved of entering into an Agreement with the Tenant respecting Article 4 of the TEC Lease, subject to obtaining the necessary City of Toronto authorization on the terms set out in Confidential Attachment 1 (the "Agreement").

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The Board also directed the Chief Executive Officer of the Board (the "CEO") to report back on the Tenant's compliance with the Agreement. This report contains the report back on the Tenant's compliance with the Agreement and certain confidential instructions to Exhibition Place staff.

Staff recommended

The Chief Executive Officer recommends that: 1. The Board adopt the confidential instructions to staff in Confidential Attachment 1. 2. The Board direct that Confidential Attachment 1 to this report remain confidential in its entirety and not be released publicly as this report is about a position, plan or instruction to be applied to negotiations carried on or to be carried on by or on behalf of the Board and the City.

    On the record

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