Downtown Event and Entertainment District Private Partner Report to be discussed at Governance and Priorities Committee Meeting August 14th.
An important milestone in the journey to the Downtown Event and Entertainment District will be discussed at the August 14th Governance and Priorities Committee of Saskatoon City Council. The Committee will be discussing a private partner agreement framework for operating the new venues, which is a critical element intended to advance the Downtown Event and Entertainment District.
“We looked for a partner with the necessary experience and credentials that will not only fund and run a successful operation, but also values and understands the importance of social responsibility and leadership in our community,” says Dan Willems, Director of Technical Services, Transportation and Construction. “The fact that we attracted the interest of a world-class expert in facility management reaffirms the potential and excitement that exists for a Downtown Event and Entertainment District in Saskatoon.”
The report sets out an agreement framework for a private operating partnership with OVG360, one of the world’s leading full-service facility management teams with over 300 client-partners that span arenas, stadiums, convention centres and performing arts centres globally. Between an initial upfront capital contribution and annual revenues to the City through an operating partnership with OVG360, the City projects $170 million in net cash flow over a 25-year agreement. The agreement will also address important community benefits including maximizing economic opportunities for traditionally marginalized groups, employment that will work with existing employees and unions, and benefits for community non-profit events.
“We are thrilled to announce this long-term operating partnership with OVG360. With OVG360's extensive experience in managing premier facilities across North America, we are confident that their innovative approach will bring substantial financial benefits to our city which will help support the funding strategy for the new venues. Between this partnership and construction of these venues, we anticipate a significant elevation in the quality and variety of events coming to Saskatoon, attracting world-class entertainment, conventions, and cultural activities. This will not only enhance the vibrancy of our community but also drive economic growth and provide memorable experiences for our residents and visitors,” says Willems.
For more information on the Downtown Event and Entertainment District please visit saskatoon.ca/eventdistrict.