Exhibition Place
The full agenda, as filed
All 4 items in the clerk’s order. Each carries the city’s own words: the staff recommendation, what the body decided, and its status. Nothing below is written by us.
EP19.1adopted
Toronto, North America's fourth largest City is home to Exhibition Place. The site currently hosts more than 2,000 events annually generating $595 million in economic impact to the City with approximately 5.5 million visitors per year for exhibitions, conventions, events, entertainment, and other activities. Exhibition Place is evolving into a year-round destination, offering a broad range of events and experiences. The location is accessible and pedestrian-friendly, attracting visitors from local neighborhoods, across Canada, and internationally. Our vision is to establish Exhibition Place as Canada's leading venue for conventions, exhibitions, events, and entertainment, with a focus on creating an environment that supports easy movement and memorable experiences for all. 2026 Budget On July 9, 2025, Mayor Chow and the Budget Committee Chair issued budget directions for all City divisions, agencies, boards, and commissions, emphasizing service delivery, financial sustainability, and cost efficiencies to support a balanced 2026 budget. City Financial Planning has set a net profit target of $2.200 million for Exhibition Place. With respect to the Exhibition Place Conference Centre Reserve Fund, the balance at the end of 2025 is forecasted to be $8.542 million (including $2.710 million from 2024 surplus over budget). This reserve is a source of funding for both state of good repair, as well as, for the City loan repayment of the Conference Centre. The latest findings from the Global Exhibition Barometer research concluded in July 2025 by UFI, with respects to the Global Association of the Exhibition Industry will enter 2026 with optimism, driven by international expansion, increased AI adoption, strong hiring, revenue growth and operational resilience. AI integration is accelerating, with most companies now routinely using tools like ChatGPT, Copilot, and Google Gemini in daily operations. Despite all the challenges from bouncing back after the pandemic and the current state of home economy, our operation is progressing very well; our events revenue continues to grow, following the same trends as other businesses in the same industry.
The Board of Governors of Exhibition Place: 1. Approved the 2026 Operating Budget attached as Appendix A to the report (October 17, 2025) from the Chief Executive Officer, Exhibition Place. 2. Directed the Chief Executive Officer to submit the 2026 Operating Budget to the City Financial Planning Division as part of the 2026 Budget Process. 3. Approved a one-time principal repayment of the City Conference Centre loan up to $2.500 million on December 1, 2025.
Staff recommendation as filed
The Chief Executive Officer, Exhibition Place, recommends that: 1. The Board of Governors of Exhibition Place approve the 2026 Operating Budget attached as Appendix A. 2. The Board of Governors of Exhibition Place direct the Chief Executive Officer to submit the 2026 Operating Budget to the City Financial Planning Division as part of the 2026 Budget Process. 3. The Board of Governors of Exhibition Place approve a one-time principal repayment of the City Conference Centre loan up to $2.500 million on December 1, 2025.
EP19.2adopted
Lease Agreement for Bandshell Restaurant (Acqua Dolce Supper Club)
The Board and 1475530 Ontario Inc. (the "Tenant") entered into a lease dated February 1, 2005, for premises consisting of approximately 5,720 square feet of indoor leasable area, and approximately 4,729 square feet of outdoor patio area immediately adjacent of the building known as the Bandshell Restaurant (the "Leased Property"). The current lease dated 1st of February 2005 is set to expire on December 31, 2025 (the "Existing Lease"). The Tenant submitted a proposal in April 2023 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 on the same terms and conditions as the Existing Lease, except where amended as outlined in Appendix A and Confidential Attachment 1 to this report. The proposed new lease will provide a source of revenue over its term. This report recommends that, subject to obtaining necessary City of Toronto (the 'City") approvals, the Board enter into a new ten (10) year lease with the City, as landlord, and the Tenant for the operation of a restaurant at the Leased Property commencing January 1, 2026, and ending on December 31, 2035, substantially on the terms and conditions set out herein. The Lease will contain an option to extend the term for a further five (5) years, to December 31, 2040. Staff from Exhibition Place and CREM have been in discussions and negotiations with the Tenant since May 2023. CREM engaged its internal valuation group to assist with the fair value negotiations with the Tenant. The proposed rent and other major terms and conditions of the New Agreement are considered to be fair, reasonable, and reflective of market rates.
The Board of Governors of Exhibition Place: 1. Subject to obtaining the necessary City of Toronto authorization, approved a new lease for the Leased Premises at the Bandshell Restaurant (the "Lease") between the City, as landlord, 1475530 Ontario Inc., as tenant, and the Board, for a term of ten (10) years commencing January 1, 2026 and ending December 31 2035, substantially on the terms and conditions set out in Appendix 'A' and Confidential Attachment 1 to the report (October 17, 2025) 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 the Board (the "CEO"), and in a form satisfactory to the City Solicitor. 2. Directed the Chief Executive Officer to work with the Deputy City Manager, Corporate Services, to seek necessary City approval for the Lease as set out in Recommendation 1. 3. Directed that the confidential information contained in Confidential Attachment 1 to the report (October 17, 2025) from the Chief Executive Officer, Exhibition Place, remain confidential and not be released publicly as this report deals with a proposed or pending acquisition or disposition of land by the City and the Board.
Staff recommendation as filed
The Chief Executive Officer, Exhibition Place, recommends that: 1. Subject to obtaining the necessary City of Toronto authorization, the Board of Governors of Exhibition Place approve a new lease for the Leased Premises at the Bandshell Restaurant (the "Lease") between the City, as landlord, 1475530 Ontario Inc., as tenant, and the Board, for a term of ten (10) years commencing January 1, 2026 and ending December 31 2035, substantially on the terms and conditions set out in Appendix 'A' and 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 the Board (the "CEO"), and in a form satisfactory to the City Solicitor; 2. The Board of Governors of Exhibition Place direct the Chief Executive Officer to work with the Deputy City Manager, Corporate Services, to seek necessary City approval for the Lease as set out in Recommendation 1. 3. The Board of Governors of Exhibition Place direct that the confidential information contained in Confidential Attachment 1 to this report remain confidential and not be released publicly as this report deals with a proposed or pending acquisition or disposition of land by the City and the Board.
EP19.3adopted
2026 Proposed Capital Works Budget as Part of Ten-Year (2026-2035) Program
Toronto, North America's fourth largest City is home to Exhibition Place. The site currently hosts more than 2,000 events annually with approximately 5.5 million visitors per year. Exhibition Place is evolving into a year-round destination, offering a broad range of events and experiences. The location is accessible and pedestrian-friendly, attracting visitors from local neighborhoods, across Canada, and internationally. Exhibition Place vision is to become Canada's premier destination for conventions, exhibitions, events, and entertainment with a focus on creating an environment that supports easy movement and memorable experiences for all. On July 9, 2025, the City's Chief Financial Officer and Treasurer provided supplementary instructions for all City Divisions and Agencies with the preparation of the 2026 Capital Works Budget as Part of the Ten-Year Submission. Exhibition Place Managed Projects Supporting the City objective of minimizing debt funding, Exhibition Place staff have worked towards minimizing debt funding for Exhibition Place new projects, also taking into consideration inflationary pressures, and supporting our vision. The change from 2025 to 2026 of the 10-year Capital Plan excluding carry forward is a change of $17.154 million over the 10 years. FIFA World Cup 2026 - Third Party Managed Project In early 2023, the City entered into a management agreement with Maple Leaf Sports and Entertainment (MLSE) for project management activities in support of Toronto hosting of FIFA World Cup 2026. This includes but not limited to major upgrades to the City-owned soccer stadium at BMO Field. Given that this City project is on the Exhibition Place grounds, it was agreed by MLSE and the City that the financial process and cash flow would flow through Exhibition Place's 10-Year Capital Plan. This will be a significant project as the annual cash flow funding requirement for the capital infrastructure needs to bring the stadium to FIFA operational standards as reported over the period 2023-2026 will be approximately $146.700 million in project cost. From the previous 10-year capital budget submission the total project cost has increased by $56.7 million. Project costs are funded $61.850 million from City reserves, $61.850 million from Federal funding, and $23.000 million from contributions from third party, MLSE. Overview Overall, our 10-year Capital Plan for Exhibition Place is $253.899 million with $208.080 million for Exhibition Place managed projects and the remaining $45.819 million for 3rd party managed projects relating to FIFA World Cup 2026. Throughout the budget process Exhibition Place staff worked closely with City FPD in developing the budget. The City practice for 2026 allocation of funds is still based on the Board capacity to spend but is linked more closely to the City's ability to fund the projects with debt. Annually, staff review the 10-year capital plan; this annual review procedure allows Exhibition Place to adjust its current State-of-Good-Repair (SOGR) program each subsequent year based on changing and operational needs, building/audit assessments, legislative changes, mandates, and priorities. Exhibition Place staff have submitted the 2026 Capital Works Budget to City FPD to meet the City Manager September 9, 2025, deadline; however, due to the budget submission schedule, City FPD understands that the budget is subject to Board approval and that the Board therefore reserves the right to make changes to the Capital Works Budget content. Exhibition Place staff will notify the City of any changes or directions made by the Board. In accordance with City guidelines for capacity to spend, the City's ability to fund, building assessments and SOGR priority, a total of $68.344 million net program is recommended for 2026 Capital budget. This includes: 1. New Projects for a total amount of $20.525 million cash flow in 2026 (Section 'B' in Appendix 'A') as follows: a. $20.475 million to be funded by debt for various upgrades within existing buildings, parking lots and roads grounds wide. b. $0.050 million to be funded by CNEA for Food Building projects ($0.050 million to replace boilers, hot water tanks, water distribution and sanitary systems, and $0.050 million for fire alarm system upgrade, 50 percent of which are recoveries from CNEA, as per the Board's Master Agreement sharing provisions with CNEA). 2. Previously Approved 2026 cash flow commitment of $2.000 million for replacement of high voltage priority feeders (Cash flow commitment for 2027 is $2.000 million). In summary, the total budget cash flow for Above the Line Capital Program 2026 (Sections A & B in Appendix 'A') including New Projects, Previously Approved and Carry Forward is $22.525 million. Even with the additional funding being recommended, the Net Accumulated SOGR Backlog at the end of 2026 for Exhibition Place stands at $92.240 million. 3. The 2026 capital cash flow for third party managed projects (Section C) is the FIFA World Cup 2026 capital project of $45.819 million. Capital Needs Constraints In addition to the $253.899 million required for the 10-year above the line capital works program, there exists $129.900 million of capital projects that are below the line. The term 'below the line' refers to projects not approved but that have capital needs or more specifically projects that their capital needs cannot be accommodated within the City capital plan even though the Board have the capacity to deliver. The projects under these constraints for Exhibition Place in the 10-year plan consist of $54.900 million for the Festival Plaza Development and $75.000 million for the Industry Building renovation.
The Board of Governors of Exhibition Place: 1. Approved the Proposed 2026 Above the Line Capital Works State-of-Good-Repair Budget (Sections A and B of Appendix 'A' to the report (October 17, 2025) from the Chief Executive Officer, Exhibition Place) of $22.525 million with $22.475 million funded by debt and $0.050 million funded by recoveries from Canadian National Exhibition Association (CNEA), as part of the ten year (2026-2035) proposed program submission to the City of Toronto. 2. Approved the Proposed 2026 FIFA World Cup 2026 non-Exhibition Place managed project in the amount of $45.819 million funded by City Capital Financing Reserves, Federal contribution funds, and third-party funding from Maple Leaf Sports and Entertainment (MLSE). 3. Directed the Chief Executive Officer to submit the 2026 Budget and any changes or directions by the Board to the City Financial Planning Division as part of the 2026 Budget Process.
Staff recommendation as filed
The Chief Executive Officer, Exhibition Place, recommends that: 1. The Board of Governors of Exhibition Place approve the Proposed 2026 Above the Line Capital Works State-of-Good-Repair Budget (Sections A and B of Appendix 'A') of $22.525 million with $22.475 million funded by debt and $0.050 million funded by recoveries from Canadian National Exhibition Association (CNEA), as part of the ten year (2026-2035) proposed program submission to the City of Toronto. 2. The Board of Governors of Exhibition Place approve the Proposed 2026 FIFA World Cup 2026 non-Exhibition Place managed project in the amount of $45.819 million funded by City Capital Financing Reserves, Federal contribution funds, and third-party funding from Maple Leaf Sports and Entertainment (MLSE). 3. The Board of Governors of Exhibition Place direct the Chief Executive Officer to submit the 2026 Budget and any changes or directions by the Board to the City Financial Planning Division as part of the 2026 Budget Process.
EP19.4adopted
Ceremonial Renaming of Nunavut Road
This report is seeking approval to recognize the One of a Kind's 50th Year Anniversary at Exhibition Place with a ceremonial name change of Nunavut Road (West of Enercare Centre) to "One of a Kind Road" on the opening day of the show. The site plan for Nunavut Road is outlined in Appendix 'A' to this report.
The Board of Governors of Exhibition Place: 1. Approved a ceremonial renaming of Nunavut Road to One of a Kind Road, outlined in Appendix 'A' to the report (October 17, 2025) from the Chief Executive Officer, Exhibition Place, in celebration of the One of a Kind Show's 50th Anniversary at Exhibition Place, effective on the opening day of their show, November 27, 2025, for one day.
Staff recommendation as filed
The Chief Executive Officer, Exhibition Place, recommends that: 1. The Board of Governors of Exhibition Place approve a ceremonial renaming of Nunavut Road to One of a Kind Road, outlined in Appendix 'A' to this report, in celebration of the One of a Kind Show's 50th Anniversary at Exhibition Place, effective on the opening day of their show, November 27, 2025, for one day.