Item - 2012.EX21.32

The Executive Committee recommends that:

1.         City Council authorize the Board of Governors of Exhibition Place to amend the Agreement to permit Clarity Outdoor Media Inc. to upgrade its sign in a manner more particularly set out in this report, subject to Clarity complying with all requirements of the City, and obtaining all of the necessary approvals, including City Council approval of any amendment to the City's Municipal Code Chapter 694 – Signs - General.

2.         City Council direct that the Confidential Information in Attachment 1 of the letter (May 28, 2102) from the Chief Executive Officer, Exhibition Place, not be released publicly in order to protect the competitive position and the future economic interests of Exhibition Place.

This report recommends City Council authorize the amendment of the agreement (the "Agreement") between the Board of Governors of Exhibition Place (“the Board”) and Clarity Outdoor Media Inc. ("Clarity") to permit Clarity to upgrade portions of the existing east and west side of the Gardiner/Strachan Outdoor Billboard Sign from static vinyl to tri-vision displays as described more fully in this report and shown on Appendix “A” and “B”. Replacing the existing static vinyl to trivision results in more displays with more advertisers and therefore has the potential for significant additional income stream to the Board.  In addition, with conversion to a trivision display Exhibition Place will continue to have the benefit of 10 second spots at no cost. The amendment to the agreement would be subject to Clarity obtaining the necessary approvals and permits under the City's Municipal Code Chapter 694-Sings-General.