Long Term Licence Agreement with an Exhibition Client

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The decision

2023-04-04 · Exhibition Place · amended

As filed

The Board of Governors of Exhibition Place: 1. Granted authority for the Chief Executive Officer, Exhibition Place to work with Corporate Real Estate Management (CREM) staff to negotiate a licence agreement with the Exhibition Client, as set out in Confidential Attachment 1 to the supplementary report (March 30, 2023) from the Chief Executive Officer, Exhibition Place. 2. In the event that, following negotiations, the

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Exhibition Client agrees in principle to terms and conditions materially as set out in Confidential Attachment 1 to the supplementary report (March 30, 2023) from the Chief Executive Officer, Exhibition Place, then, subject to obtaining the necessary City of Toronto approval, approved a licence agreement (the "Licence Agreement") between the City of Toronto, (the "City"), as licensor, Exhibition Client, as licensee, and the Board, substantially on the terms and conditions set out in Confidential Attachment 1 to the supplementary report (March 30, 2023) from the Chief Executive Officer, Exhibition Place, and such other and amended terms and conditions deemed appropriate by the Deputy City Manager, Corporate Services (the "DCM"), the Chief Executive Officer of Exhibition Place (the "CEO"), and in a form satisfactory to the City Solicitor. 3. Authorized the Chief Executive Officer, Exhibition Place to request the necessary City authorities to approve and enter into the Licence Agreement. 4. Directed that the confidential information contained in Confidential Attachment 1 to the supplementary report (March 30, 2023) from the Chief Executive Officer, Exhibition Place and in Confidential Attachment 1 to the report (March 21, 2023) from the Chief Executive Officer, Exhibition Place remain confidential as they are about a plan to be applied to negotiations carried on or to be carried on by or on behalf of the Board and contains financial information supplied in confidence to the Board, which, if disclosed, could reasonably be expected to significantly prejudice the competitive position, or interfere significantly with the contractual or other negotiations of a person, group of persons, or organization.

On the agenda

As the city filed it

This report recommends the Board authorize the Chief Executive Officer, Exhibition Place to work with the City Corporate Real Estate Management ("CREM") staff to negotiate a licence agreement between an Exhibition client identified in Confidential Attachment 1 (the "Exhibition Client"), as licensee, the City as licensor and The Board of Governors of Exhibition Place for space within the Better Living Centre.

Staff recommended

The Chief Executive Officer recommends that: 1. The Board grant authority for the Chief Executive Officer, Exhibition Place to work with City Corporate Real Estate Management (CREM) staff to negotiate a licence agreement with the Exhibition Client, as set out in Confidential Attachment 1. 2. In the event that, following negotiations, the Exhibition Client agrees in principle to terms and conditions materially as set out

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in Confidential Attachment 1 then, subject to obtaining the necessary City of Toronto approval, the Board approve a licence agreement (the "Licence Agreement") between the City of Toronto, (the "City"), as licensor, Exhibition Client, as licensee, and the Board, substantially on the terms and conditions set out in Confidential Attachment 1, and such other and amended terms and conditions deemed appropriate by the Deputy City Manager, Corporate Services (the "DCM"), the Chief Executive Officer of Exhibition Place (the "CEO"), and in a form satisfactory to the City Solicitor. 3. The Board authorize the Chief Executive Officer, Exhibition Place to request the necessary City authorities to approve and enter into the Licence Agreement. 4. The Board direct that the confidential information contained in Confidential Attachment 1 remain confidential as it is about a plan to be applied to negotiations carried on or to be carried on by or on behalf of the Board and contains financial information supplied in confidence to the Board, which, if disclosed, could reasonably be expected to significantly prejudice the competitive position, or interfere significantly with the contractual or other negotiations of a person, group of persons, or organization.

On the record

The item as the City filed it

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