Item - 2020.EP13.7

The Board of Governors of Exhibition Place:

1.  Subject to obtaining the necessary City of Toronto authorization, approved a  new lease (the "Lease") between the City of Toronto, as landlord (the "City"), Toronto Equestrian, as tenant, and the Board, for a term of four (4) years commencing January 1, 2021 and ending December 31 2024, substantially on the terms and conditions set out in Appendix A and Confidential Attachment 1 to the report (September 3, 2020) from the Chief Executive Officer, Exhibition Place, and such other terms and conditions deemed appropriate by the Deputy City Manager, Corporate Services (the "DCM"), the Chief Executive Officer, Exhibition Place (the "CEO"), and in a form satisfactory to the City Solicitor.

2.  Authorized the Chief Executive Officer, Exhibition Place to request the necessary City authorities to approve and enter into the Lease.

3.  Directed that the confidential information contained in Confidential Attachment 1 to the report (September 3, 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.

This report recommends that the Board enter a four (4) year lease with Toronto Equestrian (the "Tenant") for the operation of an Equestrian Riding School in a portion of the Horse Palace stables at Exhibition Place commencing January 1, 2021 and ending on December 31, 2024, substantially on the terms and conditions of their response to our Request for Proposal.