Item - 2023.EP3.11

The Board of Governors of Exhibition Place:

1.  Granted authority for the Chief Executive Officer, Exhibition Place to work with Corporate Real Estate Management (CREM) staff to negotiate a licence agreement with the Exhibition Client, as set out in Confidential Attachment 1 to the supplementary report (March 30, 2023) from the Chief Executive Officer, Exhibition Place.

2.  In the event that, following negotiations, the Exhibition Client agrees in principle to terms and conditions materially as set out in Confidential Attachment 1 to the supplementary report (March 30, 2023) from the Chief Executive Officer, Exhibition Place, then, subject to obtaining the necessary City of Toronto approval, approved a licence agreement (the "Licence Agreement") between the City of Toronto, (the "City"), as licensor, Exhibition Client, as licensee, and the Board, substantially on the terms and conditions set out in Confidential Attachment 1 to the supplementary report (March 30, 2023) 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 Exhibition Place (the "CEO"), and in a form satisfactory to the City Solicitor.

3.  Authorized the Chief Executive Officer, Exhibition Place to request the necessary City authorities to approve and enter into the Licence Agreement.

4.  Directed that the confidential information contained in Confidential Attachment 1 to the supplementary report (March 30, 2023) from the Chief Executive Officer, Exhibition Place and in Confidential Attachment 1 to the report (March 21, 2023) from the Chief Executive Officer, Exhibition Place remain confidential as they are about a plan to be applied to negotiations carried on or to be carried on by or on behalf of the Board and contains financial information supplied in confidence to the Board, which, if disclosed, could reasonably be expected to significantly prejudice the competitive position, or interfere significantly with the contractual or other negotiations of a person, group of persons, or organization.

This report recommends the Board authorize the Chief Executive Officer, Exhibition Place to work with the City Corporate Real Estate Management ("CREM") staff to negotiate a licence agreement between an Exhibition client identified in Confidential Attachment 1 (the "Exhibition Client"), as licensee, the City as licensor and The Board of Governors of Exhibition Place for space within the Better Living Centre.

This report is supplementary to the report dated March 21, 2023 from the Chief Executive Officer, Exhibition Place (the "CEO") which recommends the Board authorize the CEO to work with the City Corporate Real Estate Management ("CREM") staff to negotiate a licence agreement between an Exhibition Client identified in Confidential Attachment 1 to that report (the "Exhibition Client"), as licensee, the City as licensor and The Board of Governors of Exhibition Place for space within the Better Living Centre, and in the event negotiations are successful, to approve, subject to City approval, a  licence agreement (the "Licence Agreement") substantially on the terms and conditions set out in Confidential Attachment 1 Supplementary to that report.

The purpose of this supplementary report is to provide the Board with updated proposed terms and conditions for the recommended licence Agreement based on recent discussions between the parties on March 28 and 29, 2023. Revised terms and conditions are set out in Confidential Attachment 1 to this supplementary report. It is recommended that the Board adopt the recommendations in this supplementary report, instead of the recommendations provided in the March 21, 2023 report.