Multi-year Agreement with Green Savoree Toronto (GST) ULC for Honda Indy at Exhibition Place

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The decision

2020-09-18 · Board of Governors of Exhibition Place · adopted

As filed

The Board of Governors of Exhibition Place: 1. Approved the multi-year agreement with Green Savoree Toronto (GST) for a three (3) term commencing in 2021 and expiring in 2023 on the terms and conditions of the standard license agreements for Exhibition Place; the specific terms and conditions set out in Appendix A; the financial terms set out in Confidential Attachment 1 to the report (September 8, 2020) from the Chief Executive Officer, Exhibition Place; and such other terms and conditions satisfactory to the Chief Executive Officer and City Solicitor.

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2. Directed that Confidential Attachment 1 to the report (September 8, 2020) from the Chief Executive Officer, Exhibition Place remain confidential in its entirety and not be released publicly as it pertains to a plan to be applied to any negotiations carried on or to be carried on by or on behalf of the Board.

On the agenda

As the city filed it

This report recommends a three-year agreement with Green Savoree Toronto ULC (GST) for 2021, 2022, and 2023 for the Honda Indy races. The terms and conditions also protect the Board's right with respect to redevelopment of the Exhibition Place site and take into account the 2017 - 2019 Strategic Plan of Exhibition Place.

Staff recommended

The Chief Executive Officer recommends that: 1. The Board approve the multi-year agreement with Green Savoree Toronto (GST) for a three (3) term commencing in 2021 and expiring in 2023 on the terms and conditions of the standard license agreements for Exhibition Place; the specific terms and conditions set out in Appendix A; the financial terms set out in Confidential Attachment 1; and such other terms and conditions satisfactory to the Chief Executive Officer and City Solicitor.

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2. The Board direct that Confidential Attachment 1 to this report remain confidential in its entirety and not be released publicly as it pertains to a plan to be applied to any negotiations carried on or to be carried on by or on behalf of the Board.

On the record

The item as the City filed it

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