2017-09-12 City Council Update on Edmonton Tower
Carried

Action: 1. That the City Manager be given authority to amend the Edmonton Tower lease agreement by removing Section 33.1 (d) (the City’s Option to Purchase) upon request from ICE District Corp. in exchange for
$5 million to be paid by ICE District Corp. to the City within 60 days of the City’s receipt of the request from the ICE District Corp.

2. That in the event of receipt of a cash payment from ICE District Corp. as outlined in the September 12 2017 Financial and Corporate Services report CR_5137 the funds are to be applied to some manner of community benefit.

3. That the September 12 2017 Financial and Corporate Services report CR_5137 remain private pursuant to sections 16 (disclosure harmful to business interests of a third party) 24 (advice from officials) and 25 (disclosure harmful to economic and other interests of a public body) of the Freedom of Information and Privacy Act.

Department: Financial and Corporate Svcs.

Unanimous