Agreement with Toronto Event Centre Inc.

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The decision

2019-10-24 · 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, adopted the confidential instructions to staff in Confidential Attachment 1 to the report (October 22, 2019) from the Chief Executive Officer, Exhibition Place. 2. Directed that Confidential Attachment 1 to the report (October 22, 2019) from the Chief Executive Officer, Exhibition Place 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.

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3. Directed that Confidential Attachment 1 to the report (September 5, 2019) from the Chief Executive Officer, Exhibition Place [Item EP6.16] referred by the Board to the Chief Executive Officer at its meeting on September 19, 2019, remain confidential in its entirety and not be released publicly as such 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 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. At its meeting of September 19, 2019 the CEO reported back to the Board as directed and the Board referred the item to the CEO, Exhibition Place with a request to meet with the Tenant and report back to the October 24, 2019 meeting of the Board. This report contains the report back on the meeting between the CEO and the Tenant as directed by the Board at the September 19, 2019 Board meeting and certain confidential instructions to Exhibition Place staff.

Staff recommended

The Chief Executive Officer recommends that: 1. Subject to obtaining the necessary City of Toronto authorization, 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.

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3. The Board direct that Confidential Attachment 1 to the report (September 5, 2019) from the Chief Executive Officer, under Item EP6.16, referred by the Board to the Chief Executive Officer at its meeting on September 19, 2019, remain confidential in its entirety and not be released publicly as such 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

The item as the City filed it