Major milestones that have occurred relative to the Downtown Entertainment Precinct:
December 1, 2017: Council approved a motion that direct staff to investigate opportunities for a private sector-led redevelopment of the Precinct
Summer 2019: Ernst and Young (EY) completed a comprehensive review of First Ontario, Hamilton Convention Centre, and the FirstOntario Concert Hall
October 23, 2019: Council directed Staff to identify and explore suitable arena development opportunities and partners to speak to. Staff marketed this investment opportunity for over 3 months.
February 5, 2020: Council directed and authorized staff to negotiate MOUs with Vrancor and HUPEG to eliminate the City’s ongoing subsidization of all three venues that best aligns with the Council-approved terms and report back to GIC
July 6, 2020: Council authorized and directed staff to Negotiate a Master Agreement with HUPEG based on the terms outlined in the MOU.
July 20, 2020: MOU (Memorandum of Understanding) Signed by Council
June 9, 2021: Council Approved Master Agreement and Media Release sent
October 26, 2021: Mater Agreement Signed by Council
March 23, 2022: GIC motion approved – See motion below:
“That Staff be directed to review what, if any, portions of the agreement between the City of Hamilton and the Hamilton Urban Precinct Entertainment Group L.P., with regard [to] the lands known as the FirstOntario Centre, the Hamilton Convention Centre and the FirstOntario Concert Hall may be publicly released, and report back to the GIC”
August 12, 2022: Council approved an amendment to the Master Agreement to allow for a non-HUPEG controlled entity to become a tenant of a head lease contemplated in the MA for FirstOntario Concert Hall & Arena. This entity would be controlled by OVG.
November 30, 2022: HUPEG and City of Hamilton signed 3 leases, based on the terms agreed to the Master Agreement, for the FirstOntario Arena, Hamilton Convention Centre, and FirstOntario Concert Hall, effective January 1st, 2023
January 1, 2023: HUPEG lease came into effect, duration is 49 years
March 22, 2023: General Issues Committee staff indicated that they would report back on the above staff direction during Q2 of 2023.