Report CSAD21-006
That Council approve the recommendation outlined in Report CSAD21-006, dated June 14, 2021, of the Commissioner of Community Services, as follows:
a) That the Mayor and Clerk be authorized to sign a new Agreement between the City and the Petes to include the following terms and any other related documents necessary to execute the Agreement:
i. That the term for the Agreement be for a maximum period of eight (8) years, or until a Peterborough Memorial Centre (PMC) replacement facility is constructed, commencing August 1, 2021;
ii. That the Agreement include a fixed-rate rental fee for rental of facility space in the amount of $48,000 plus HST annually, increasing annually effective in Year 3 of the Agreement on August 1, 2023 by the rate of inflation sourced from the Statistics Canada Consumer Price Index;
iii. That the Agreement include a fixed-rate rental fee for game day expenses in the amount of $4,500 plus HST for every Petes’ game, increasing annually effective in Year 3 of the Agreement on August 1, 2023 by the rate of inflation sourced from the Statistics Canada Consumer Price Index;
iv. That the Agreement include a per-ticket fee on all Petes’ tickets for Box Office charges in the range of $0.75 plus HST to incrementally increase to $2.00 plus HST over the term of the Agreement;
v. That the Agreement include a per-ticket Capital Refurbishment Fund fee on all Petes’ tickets in the amount of $1.50 plus HST over the term of the Agreement;
vi. That the Agreement include a per-Order Charge of $2.50 plus HST applying to Petes’ ticket orders over the term of the Agreement;
vii. That the City will provide the Petes 50% of the City’s share of Gross Revenues from Food and Beverage Sales at Petes Games for the term of the Agreement;
viii. That the Petes be authorized to perform the sale and execution of Suite License Agreements in the PMC, providing the City with an annual payment of $24,000 plus HST, increasing to $36,000 plus HST in Year 3 and $48,000 plus HST in Year 7 of the Agreement; and
ix. That the Petes be authorized to perform the sale and execution of Sponsorship and Advertising Agreements in the PMC, excluding the sale of Facility Naming Rights, Exterior Digital Signs, Interior Corporate Monitors and Exclusive Service Agreements, providing the City with an annual payment of $60,000 plus HST, increasing annually effective in Year 3 of the Agreement on August 1, 2023 by the rate of inflation sourced from the Statistics Canada Consumer Price Index.