Lake Shore Billboard Sign Agreement - Branded Cities

The agreement is to be effective on the date the new signs are installed and becomes operational, which is anticipated to be prior to the expiry of BCC current agreement. The current 15-year agreement with BCC is set to expire on July 31, 2022. BCC wrote and met with staff from both Exhibition Place and City Corporate Real Estate Management ("CREM") to indicate its desire to continue its relationship with Exhibition Place and subsequently provided a financial proposal and New Agreement terms. Staff from Exhibition Place and CREM have been in discussions and negotiations with BCC since September 2019, and this report recommends that the Board approve the terms and conditions that are reflected in this report, and forward these for the necessary City of Toronto authorization for approval.

2. The Board permit Branded Cities Canada to submit an application to the City for the necessary approvals, including, but not limited to, any by-law amendments or permits, including a site specific amendment to Municipal Code Chapter 694 Signs, General, required to permit the proposed installation as more particularly set out in Appendix B. 3. The Board direct that the confidential information contained in Confidential Attachment 1 to this report remain confidential and not be released publicly as it contains financial information that belongs to the Board of Governors of Exhibition Place and has monetary value or potential monetary value.