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←Board of Governors of Exhibition Place · 2020-09-18 · 2020.EP13.3

The filed record

Lake Shore Billboard Sign Agreement - Branded Cities

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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. Subject to obtaining the necessary City of Toronto authorization for the transaction, and subject to Branded Cities Company Canada obtaining the necessary approvals set out in Part 2, approved an agreement with Branded Cities Company Canada substantially on the terms and conditions set out in the report and in Confidential Attachment 1 to the report (June 10, 2020) from the Chief Executive Officer, Exhibition Place, and such other terms and conditions as may be satisfactory to the Chief Executive Officer, the Deputy City Manager, Corporate Services, or her designate, and in a form satisfactory to the City Solicitor (the "New Agreement").

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2. Permitted 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 to the report (June 10, 2020) from the Chief Executive Officer, Exhibition Place. 3. Directed that the confidential information contained in Confidential Attachment 1 to the report (June 10, 2020) from the Chief Executive Officer, Exhibition Place 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.

The vote

Adopt Item · Carried, 5-2

For (2)Anthony Perruzza, Mark Grimes
Against (2)Joe Cressy, Stephen Holyday
Absent (1)Jim Karygiannis
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On the agenda

As the city filed it

This report recommends entering into a ten (10) year sign agreement with Branded Cities Company Canada ("BCC") (formerly, "Clear Channel Outdoor Company Canada") for two digital signs at Lakeshore Boulevard which are proposed to replace the two existing static displays billboards signs. The agreement is conditional on obtaining the necessary City approvals, including any amendments, if applicable, to the City's Municipal Code Chapter 694, Signs, General.

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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.

Staff recommended

The Chief Executive Officer recommends that: 1. Subject to obtaining the necessary City of Toronto authorization for the transaction, and subject to Branded Cities Company Canada obtaining the necessary approvals set out in Recommendation 2, the Board approve an agreement with Branded Cities Company Canada substantially on the terms and conditions set out in this report and in Confidential Attachment 1, and such other terms and conditions as may be satisfactory to the Chief Executive Officer, the Deputy City Manager, Corporate Services, or her designate, and in a form satisfactory to the City Solicitor (the "New Agreement").

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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.

    On the record

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