Item - 2023.EP2.7

The Board of Governors of Exhibition Place:

1.  Subject to City Council approval, approved an Amended and Restated Master Agreement with the Canadian National Exhibition Association (CNEA) and the City for a term of five years starting on April 1, 2023 and expiring on March 31, 2028, and including a renewal term of a further five (5) years, all substantially on the terms and conditions set out in Appendix A to the report (January 19, 2023) from the Chief Executive Officer, Exhibition Place, and such other terms and conditions as may be satisfactory to the City Manager and the Chief Executive Officer of Exhibition Place, and in a form satisfactory to the City Solicitor.

2.  Recommended that City Council approve an Amended and Restated Master Agreement with the Canadian National Exhibition Association (CNEA) and the City for a term of five (5) years starting on April 1, 2023 and expiring on March 31, 2028, and including a renewal term of a further five (5) years, substantially on the terms and conditions set out in Appendix A to the report (January 19, 2023) from the Chief Executive Officer, Exhibition Place, and such other terms and conditions as may be satisfactory to the City Manager and the Chief Executive Officer of Exhibition Place, and in a form satisfactory to the City Solicitor.

This report recommends, subject to obtaining the necessary City of Toronto authorization, that the Board enter into an Amended and Restated Master Agreement dated April 1, 2023 between the Board, the City, and the Canadian National Exhibition Association, commencing April 1, 2023 and expiring March 31, 2028, plus a contemplated renewal term of five (5) years.

In accordance with the current Master Agreement, negotiations of a Second Renewal Term (commencing April 1, 2023) were to be for “the purpose of having the CNEA pay a license fee reflective of the rental prices then approved by the Board to be consistent with Council direction. This arrangement has not yet been achieved due to the COVID-19 pandemic in 2020 and 2021 which resulted in cancellation of the Fair, however, the proposed renewal terms in the Amended and Restated Master Agreement recommended in this report, will provide a basis for a similar arrangement/requirement in the future negotiations assuming the continued success in hosting the fair.

The substantial terms and conditions of the Amended and Restated Master Agreement are set out in Appendix A to this report are recommended for approval by the CNEA Board at its meeting on January 23, 2023.