Item - 2019.EP6.16

Tracking Status

This item was considered by Board of Governors of Exhibition Place on September 19, 2019. The Board of Governors of Exhibition Place has referred this item to an official or other body without making a decision. Consult the text of the decision for further information on the referral.

EP6.16 - Agreement with Toronto Event Centre Inc.

Decision Type:: ACTION

Status:: Referred

Ward:: 10 - Spadina - Fort York

Confidential Attachment - A position, plan or instruction to be applied to negotiations carried on or to be carried on by or on behalf of the City of Toronto and the Board of Governors of Exhibition Place

Board Decision

The Board of Governors of Exhibition Place:

1. Referred the item to the Chief Executive Officer, Exhibition Place with the request that he meet with the tenant, Toronto Events Centre and report back to the October 24, 2019 meeting of the Board of Governors of Exhibition Place.

Decision Advice and Other Information

The Board of Governors of Exhibition Place recessed its public meeting to meet in closed session to consider this item as it relates to a position, plan or instruction to be applied to negotiations carried on or to be carried on by or on behalf of the City of Toronto and the Board of Governors of Exhibition Place.

Origin

(September 5, 2019) Report from the Chief Executive Officer, Exhibition Place

Summary

The Board and Muzik Clubs Inc. ("Muzik") entered into a lease dated February 16, 2004, for premises consisting of the Horticultural Building and a surrounding patio area which lease was subsequently assigned by Muzik to Toronto Event Centre Inc. (the "Tenant") on April 27, 2017, and which expires on February 15, 2024 (the "TEC Lease").

At its meeting of June 13, 2019 the Board approved of entering into an Agreement with the Tenant respecting Article 4 of the TEC Lease, subject to obtaining the necessary City of Toronto authorization on the terms set out in Confidential Attachment 1 (the "Agreement"). The Board also directed the Chief Executive Officer of the Board (the "CEO") to report back on the Tenant's compliance with the Agreement.

This report contains the report back on the Tenant's compliance with the Agreement and certain confidential instructions to Exhibition Place staff.

Background Information

(September 5, 2019) Report from the Chief Executive Officer, Exhibition Place on Agreement with Toronto Event Centre Inc.
https://www.toronto.ca/legdocs/mmis/2019/ep/bgrd/backgroundfile-137221.pdf
Confidential Attachment 1

Speakers

Zlatko Starkovski, Toronto Event Centre

Motions

1 - Motion to Meet in Closed Session moved by Peter Leon (Carried)

12:04 p.m. - That the Board of Governors of Exhibition Place recess its public meeting to meet in closed session to consider this item as it relates to a position, plan or instruction to be applied to negotiations carried on or to be carried on by or on behalf of the City of Toronto and the Board of Governors of Exhibition Place.

2 - Motion to Refer Item moved by Councillor Jim Karygiannis (Carried)

That the item be referred to the Chief Executive Officer, Exhibition Place with the request that he meet with the tenant, Toronto Events Centre and report back to the October 24, 2019 meeting of the Board of Governors of Exhibition Place.