Item - 2024.EP11.9

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, for a term of five (5) years commencing January 1, 2025 and ending December 31 2029, and one five (5) year renewal option, substantially on the terms and conditions set out in Appendix A and Confidential Attachment 1 to the report (August 30, 2024) 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, 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 (August 30, 2024) from the Chief Executive Officer, Exhibition Place, remain confidential, as this report deals with a proposed or pending acquisition or disposition of land by the City and the Board.

This report recommends that The Board of Governors of Exhibition Place (the "Board") enter a five (5) year lease with the City of Toronto, as landlord, and Toronto Equestrian (the "Tenant") for the operation of the Toronto Equestrian Downtown riding school in a portion of the Horse Palace stables at Exhibition Place commencing January 1, 2025, and ending on December 31, 2029, with one option to extend for an additional five (5) years, substantially on the terms and conditions in Appendix A; subject to obtaining the necessary City of Toronto authorization.