Item - 2015.EX2.9
Tracking Status
- City Council adopted this item on February 10, 2015 without amendments and without debate.
- This item was considered by the Executive Committee on January 22, 2015 and adopted without amendment. It will be considered by City Council on February 10, 2015.
EX2.9 - Name-in-Title Sponsorship of Direct Energy Centre
- Decision Type:
- ACTION
- Status:
- Adopted on Consent
- Wards:
- All
City Council Decision
City Council on February 10 and 11, 2015, adopted the following:
1. City Council authorize the Board of Governors of Exhibition Place to execute the Memorandum of Understanding with EnerCare attached as Appendix A and in the Confidential Attachment 1 to the report (December 5, 2014) from the Chief Executive Officer, Exhibition Place, and to negotiate an agreement with EnerCare for a name-in-title sponsorship for the Direct Energy Centre substantially on the terms and conditions set out in the Memorandum of Understanding and such other terms and conditions as may be satisfactory to the Chief Executive Officer, Exhibition Place and in a form satisfactory to the City Solicitor.
2. City Council direct that the confidential information contained in Confidential Attachment 1 to the report (December 5, 2014) from the Chief Executive Officer, Exhibition Place not be released publicly as it involves the security of the property belonging to the City or one of its agencies, boards and commissions.
Confidential Attachment 1 to the report (December 5, 2014) from the Chief Executive Officer, Exhibition Place remains confidential in its entirety in accordance with the provisions of the City of Toronto Act, 2006, as it relates to the security of the property belonging to the City or one of its agencies, boards and commissions.
Confidential Attachment - The security of the property of the municipality or local board
Background Information (Committee)
https://www.toronto.ca/legdocs/mmis/2015/ex/bgrd/backgroundfile-74460.pdf
Confidential Attachment 1
EX2.9 - Name-in-Title Sponsorship of Direct Energy Centre
- Decision Type:
- ACTION
- Status:
- Adopted
- Wards:
- All
Confidential Attachment - The security of the property of the municipality or local board
Committee Recommendations
The Executive Committee recommends that:
1. City Council authorize the Board of Governors of Exhibition Place to execute the Memorandum of Understanding with EnerCare attached as Appendix A and in the Confidential Attachment 1 to the report (December 5, 2014) from the Chief Executive Officer, Exhibition Place, and to negotiate an agreement with EnerCare for a name-in-title sponsorship for the Direct Energy Centre substantially on the terms and conditions set out in the Memorandum of Understanding and such other terms and conditions as may be satisfactory to the Chief Executive Officer, Exhibition Place and in a form satisfactory to the City Solicitor.
2. City Council direct that the confidential information contained in Confidential Attachment 1 to the report (December 5, 2014) from the Chief Executive Officer, Exhibition Place not be released publicly as it involves the security of the property belonging to the City or one of its agencies, boards and commissions.
Origin
Summary
This report recommends that City Council authorize the Board of Governors of Exhibition Place to enter into a Memorandum of Understanding with EnerCare Inc. (EnerCare) for the negotiation of an agreement for the name-in-title sponsorship of Direct Energy Centre commencing at the expiry of the existing agreement (Direct Energy Sponsorship Agreement) dated December 31, 2005 between Direct Energy Marketing Limited (Direct Energy) and the Board. Accordingly, the Enercare Agreement will commence June 1, 2016 and continue for 10 years. The proposed terms and conditions are as set out in Appendix A and the confidential terms related to the financial return paid for the specific rights received are set out in the Confidential Attachment.
Background Information
https://www.toronto.ca/legdocs/mmis/2015/ex/bgrd/backgroundfile-74460.pdf
Confidential Attachment 1