Item - 2024.EP11.2
Tracking Status
- This item was considered by Board of Governors of Exhibition Place on September 13, 2024 and was adopted without amendment.
EP11.2 - One Year Agreement with Green Savoree Toronto (GST) ULC for Honda Indy at Exhibition Place
- Decision Type:
- ACTION
- Status:
- Adopted
- Ward:
- 10 - Spadina - Fort York
Confidential Attachment - A plan to be applied to any negotiations carried on or to be carried on by or on behalf of the Board of Governors of Exhibition Place
Board Decision
The Board of Governors of Exhibition Place:
1. Approved the one-year licence agreement with Green Savoree Toronto ("GST") for the 2025 race with the terms and conditions of the standard license agreement for Exhibition Place as set out in Appendix A to the report (August 30, 2024) from the Chief Executive Officer, Exhibition Place, the financial terms set out in Confidential Attachment 1 to the report (August 30, 2024) from the Chief Executive Officer, Exhibition Place, and such other terms and conditions satisfactory to the Chief Executive Officer, Exhibition Place and the City Solicitor.
2. Directed that Confidential Attachment 1 to the report (August 30, 2024) from the Chief Executive Officer, Exhibition Place remain confidential in its entirety and not be released publicly as it is about a plan to be applied to any negotiations carried on or to be carried on by or on behalf of the Board of Governors of Exhibition Place.
Origin
Summary
This report recommends a one-year agreement with Green Savoree Toronto ULC (“GST”) for the 2025 Honda Indy race. The terms and conditions also protect the Board’s right with respect to redevelopment of the Exhibition Place site.
Background Information
https://www.toronto.ca/legdocs/mmis/2024/ep/bgrd/backgroundfile-248227.pdf
Appendix A - Licence Agreement Terms and Conditions for Honda Indy Contract 2025
https://www.toronto.ca/legdocs/mmis/2024/ep/bgrd/backgroundfile-248228.pdf
Confidential Attachment 1 - Financial Analysis and Terms