Item - 2020.EP11.10

The Board of Governors of Exhibition Place:

1.  Deferred consideration of this item to its September 18, 2020 meeting with the request that the Chief Executive Officer, Exhibition Place report back, in consultation with the City of Toronto's Sign By-Law Unit, with an early analysis on the compatibility of the proposed signage with the City's by-laws.

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. 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.