Calgary's Urban Placemakers - Item #12.2.1 - Meetings
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
Item #12.2.1
C2018-0206
ATTACHMENT 2
2 0 1 8 B U S I N E S S P L A N U P D AT E
Calgary’s Urban Placemakers
C2018-0206 Stampede BMO Expansion Review ATT 2 Page 1 of 58
ISC: Unrestricted
Item #12.2.1
INTRODUCTION
Note: This document constitutes Over the past 11 years, CMLC has
an interim update to CMLC’s done more than rebuild East Village
2017–2019 Business Plan, which from the ground up and—through
Calgary City Council approved public infrastructure improvements,
on December 15, 2016. Its intent strategic placemaking and enthusiastic
is to provide clarity on the work programming—breathe new life into
we will be doing during the 12 downtown Calgary’s east end.
months of 2018. As you read this
update for 2018, please refer We’ve proven our depth, our
as necessary to the full three- commitment and our versatility.
year Business Plan. In many One of the core strengths of CMLC’s
instances, we’ve provided page team, our executive and our Board of
numbers for ease of reference. Directors is our ability to work in ways
that balance the interests of various
sector partners—government, private
and not-for-profit—for the benefit
of the greater community and our
partners.
Shaped by previous chapters of
our careers in banking and finance,
economic development, residential
C2018-0206 Stampede BMO Expansion Review ATT 2 Page 2 of 58
ISC: Unrestricted
Item #12.2.1
and retail development, legal and At these points of intersection, CMLC
not-for-profit operations, sports and is well positioned to apply our unique
recreation, product commercialization, combination of talents to deliver
communications and more, our value for our Shareholder, The City of
diverse skill sets, perspectives and Calgary, and for the citizens of the city
approaches to problem-solving have we’re so proud to call home.
formed the foundation of our success
in community development. We draw
on them regularly in our strategic
planning and in our discussions and
negotiations with development and
community partners.
Business
This powerful combination of skills, (for profit)
perspectives and approaches—
one that cannot be fabricated or
recreated—is among our organization’s
foremost advantages.
As Calgary forges ever onward in its
city- and community-building efforts, Not-for-profit Government
there will be many spaces where the
interests of the government, private
and not-for-profit sectors cross paths.
C2018-0206 Stampede BMO Expansion Review ATT 2 Page 3 of 58
ISC: Unrestricted
Item #12.2.1
ECONOMIC OUTLOOK
Calgary and Edmonton are forecast to Calgary’s economy is expected to
be Canada’s fastest growing census expand by 4.6% in 2017, making it the
metropolitan areas (CMAs) in 2017, growth leader among the 13 CMAs
according to the Conference Board in the Conference Board’s report.
of Canada’s Metropolitan Outlook: Renewed investment and increased
Autumn 2017. drilling are spurring growth in the
primary and utilities & manufacturing
“The worst appears to be over for sectors, while the construction
Calgary and Edmonton. Alberta’s industry is slowly recovering. On the
economy has been getting stronger services side, strong job gains are
thanks to a rebound in drilling and encouraging consumers to open their
increases in oil production, which purse strings, raising wholesale and
has helped to fuel renewed economic retail output by 7.0%. Meanwhile,
growth in the province’s largest cities,” the transportation and warehousing
said Alan Arcand, Associate Director, industry is receiving a lift from rising
Centre for Municipal Studies. “But with goods sector activity, while the
oil prices struggling to rise above US finance, insurance and real estate
$50 per barrel, Edmonton and Calgary industry is benefitting from a housing
should expect to see more moderate market recovery.
growth in 2018.”
C2018-0206 Stampede BMO Expansion Review ATT 2 Page 4 of 58
ISC: Unrestricted
Item #12.2.1
However, with oil prices expected Highlights
to rise only gradually, Calgary’s
real GDP growth is expected to • Calgary’s economy is on track
slow to 2.1% in 2018. Employment to surge by 4.6% in 2017 before
is expected to follow suit, with job slowing to 2.1% growth in 2018
growth moderating from 2.7% in 2017 • While oil prices have improved over
to 1.1% in 2018. Although Calgary’s the past year, they are expected to
unemployment rate is expected to fall remain below pre-recession highs
to 7.7% by 2018, down from a 22-year
high of 9.4% in 2016, it will remain • Strong job gains are encouraging
above the national average. consumers to open their purse
strings, raising wholesale and retail
In November, ATB Financial’s chief output by 7.0%
economist Todd Hirsch offered
a similar forecast. With Alberta
experiencing real GDP growth of
around 4% in 2017, Hirsch believes
the recession is firmly behind us, even
though Alberta continues to struggle
with an unemployment rate of nearly
8%. He predicts that unemployment
will remain high in 2018 but forecasts
GDP growth of 2.7% in 2018 and 2.2%
in 2019.
C2018-0206 Stampede BMO Expansion Review ATT 2 Page 5 of 58
ISC: Unrestricted
Item #12.2.1 C2018-0206 Stampede BMO Expansion Review ATT 2 Page 6 of 58 ISC: Unrestricted
Item #12.2.1
CONTENTS
09 Chapter One
Inside the Rivers District
14 Our Business Strategy
15 Projects
27 Project Management
28 Land Sales & Activations
30 Developer Partner Activity
33 Programming & Community Building
37 Chapter Two
Outside the Rivers District
39 Our Business Strategy
44 Current & Potential Projects
47 Chapter Three
Finance & Corporate Services
48 Corporate Services
51 Financial Strategy
C2018-0206 Stampede BMO Expansion Review ATT 2 Page 7 of 58
ISC: Unrestricted
Item #12.2.1 C2018-0206 Stampede BMO Expansion Review ATT 2 Page 8 of 58 ISC: Unrestricted
Item #12.2.1
C M L C 2 0 1 8 B U S I N E S S P L A N U P D AT E PA G E 9
CHAPTER ONE
INSIDE THE RIVERS DISTRICT
C2018-0206 Stampede BMO Expansion Review ATT 2 Page 9 of 58
ISC: Unrestricted
Item #12.2.1
C M L C 2 0 1 8 B U S I N E S S P L A N U P D AT E PA G E 1 0
Inside the When the City of Calgary created
CMLC in 2007, our marching orders
were to implement and execute
Rivers District the Rivers District Community
Revitalization Plan—a public
infrastructure program approved by
the City of Calgary and the Province
of Alberta to kick-start Calgary’s
urban renewal.
Eleven years later, against an east-
end skyline our redevelopment
efforts have profoundly altered
for the better, CMLC is once again
renewing our commitment to taking
“urban renewal” to a whole new level.
C2018-0206 Stampede BMO Expansion Review ATT 2 Page 10 of 58
ISC: UnrestrictedItem #12.2.1
C M L C 2 0 1 8 B U S I N E S S P L A N U P D AT E PA G E 1 1
With East Village standing proudly of these projects—the Rivers District
as a testament to our talents Master Plan—in 2017; and in 2018
in visioning, redevelopment, we’ll begin work on two more: the
placemaking, programming and 17th Avenue SE Extension and the
relationship-building, we resolved in 5th Street Underpass (part of the
2017 to extend our efforts into the Green Line Interface in Victoria Park).
further reaches of the Rivers District
(and beyond).
To solidify that commitment, our
2017–2019 Business Plan allocated
$200 million to 10 planning and
infrastructure improvement projects
in Victoria Park. We initiated the first
C2018-0206 Stampede BMO Expansion Review ATT 2 Page 11 of 58
ISC: UnrestrictedItem #12.2.1
C M L C 2 0 1 8 B U S I N E S S P L A N U P D AT E PA G E 1 2
Managing Our For CMLC, implementing the Rivers District
Community Revitalization Plan is a
20-year commitment whose halfway mark
Commitments we reached in 2017. And over any 20-year
period, economies, markets, land values,
property assessments and all the rest will
ebb and flow.
Since oil prices plummeted in the fall
of 2014, “ebb” has been the prevailing
direction in Calgary’s economy. While the
worst now appears to be behind us and
things are on the upswing, repercussions
continue to impact our business.
When we committed $200 million to
projects in Victoria Park, our rigorous
market analyses indicated that we’d
generate that amount in CRL revenues if
we realized the remaining development
potential in the Rivers District.
However, with the City’s reassessment of
downtown property values (which saw the
value of downtown’s office buildings drop
by $3.8 billion, to $17.4 billion—a decline
that cut deeply into the municipal taxes paid
by owners of non-residential properties),
we were impelled to re-forecast our CRL
C2018-0206 Stampede BMO Expansion Review ATT 2 Page 12 of 58
ISC: UnrestrictedItem #12.2.1
C M L C 2 0 1 8 B U S I N E S S P L A N U P D AT E PA G E 1 3
generation. Where we previously Total CRL generated:
estimated our 20-year CRL generation
at $801 million, our new (equally $755 million
conservative) estimate is $755 million.
The projected CRL revenue available Infrastructure
to allocate to Victoria Park projects Completed or committed
now stands at $150 million. To realize (Considers go-forward
this revised CRL target, our need CMLC operations)
to attract an additional 5.5 million Remaining CRL
square feet of development remains Generation
unchanged. Driving density remains
our high priority.
Our CRL term and the CRL dollars we
generate are both finite. Yet while the
CRL term will not fluctuate, our CRL
generation will. $601 million
2007 - 2017
In the face of economic downturns
and market fluctuations, the most
important thing we can do is stay $154 million
focused on the big picture and 2017 - 2027
course-correct as needed to ensure we
realize our 20-year vision. At the same
time, approaching everything we do
with rigour and a view to cost savings
will help ensure we’re able to give
Victoria Park the attention it needs. *updated Fall 2017
C2018-0206 Stampede BMO Expansion Review ATT 2 Page 13 of 58
ISC: UnrestrictedItem #12.2.1
C M L C 2 0 1 8 B U S I N E S S P L A N U P D AT E PA G E 1 4
Our Business Strategy
Within the Rivers District
To deliver a public infrastructure and placemaking
program to attract private investment, to stimulate CRL
generation, and to create a sustainable tax base for the
City of Calgary as our Shareholder
C2018-0206 Stampede BMO Expansion Review ATT 2 Page 14 of 58
ISC: UnrestrictedItem #12.2.1
C M L C 2 0 1 8 B U S I N E S S P L A N U P D AT E PA G E 1 5
Projects
In 2018, our biggest project files New Central Library Completion and handover to Calgary
within the Rivers District (including Public Library (CPL) is planned for
East Village) will include: Construction on the New Central October 1, 2018. We will work with
Library began with the LRT CPL to help deliver Grand Opening
encapsulation in 2013. In fall 2017, celebrations befitting a project of
as we entered the final 12 months of the New Central Library’s stature
construction, this complex project and importance.
remained on schedule; and thanks to
material and labour cost advantages
created by Calgary’s recessionary
3rd Street SE
economy over the past few years, Public Realm
it promises to come in under the
Encompassing approximately five
original budget of $245 million.
city blocks from 9th Avenue SE to
The principal focus during the final the Bow River, the 3rd Street SE
year of construction is the “fit and Streetscape Improvement Project
finish” work that will bring the new is dramatically reshaping a space
facility to completion. This is when once dominated by vehicles and
the experiential elements of the LRT lines into a pedestrian-oriented
building will come together, from streetscape that connects the New
the layout and design of the library’s Central Library with Jack & Jean
interior spaces to the furniture Leslie RiverWalkTM and the Bow River.
choices and public art installations
The project is being delivered
to the selection of an operator for
in two phases and, for cost and
the café.
time efficiencies, is being carefully
Also in 2018, the landscape finishes coordinated with many parties and
(pavers, trees and plants) will be with the construction activity on the
installed, and the New Central New Central Library, RioCan’s 5th
Library’s public art will be unveiled. & THIRD and the City’s Municipal
Building repairs as well as ongoing
utility work by Enmax.
C2018-0206 Stampede BMO Expansion Review ATT 2 Page 15 of 58
ISC: UnrestrictedItem #12.2.1
C M L C 2 0 1 8 B U S I N E S S P L A N U P D AT E PA G E 1 6
We are also committed to improving We’ve made substantial progress live, work, play and shop in the
our coordination with the City of in understanding the community’s neighbourhood. This became the
Calgary Transportation (Roads) connectivity, urban context, foundation of our land strategy
team. perception challenges and to attract private developers
development opportunities. In 2018, (and retailers) to the community,
In 2018, CMLC will focus on we will initiate a year-long program which was critical to our CRL
the pedestrian environment of public, landowner and developer generation. Again for Victoria
(sidewalks and crossings) along engagement with a view to finalizing Park, we are working with
3rd Street SE and on continued the master plan vision by Q4 2018. international consumer research
construction related to the New expert Roland Berger to define
Central Library site. Our broad community engagement and understand the future
program will focus on the following resident (investor) of Calgary’s
Phase 1, which constitutes the themes: Cultural and Entertainment
area along 3rd Street SE between
District. As this information
9th Avenue and 5th Avenue, is 1. Infrastructure Investment and
will be critical to our business
expected to wrap up in Q4 2018. Delivery: CMLC will restate our
discussions with land owners
commitment ($150 million) to
and developers, we’ll seek input
public realm improvements
Rivers District Master to help refine our understanding
within the community and will
Plan (RDMP) seek public input, ideation and
of the living needs of the future
Victoria Park resident.
We have been working with our engagement on the 17th Avenue
design team, Civitas (Denver) SE Extension, 9th Avenue SE 3. Retail Research: CMLC will
with Gibbs Gage Architects, and a Bridge (Inglewood) and 5th engage community stakeholders
group of community stakeholders Street SE Underpass/Green Line and neighbours in a discussion
to articulate a master plan vision integration. As we did for East around the types of retail
to guide redevelopment of Victoria Village, we’ll paint a holistic vision operations Calgary’s Cultural
Park (286 acres south of 9th Avenue of infrastructure investment in and Entertainment District
SE)—another important step toward the area while seeking feedback would attract and the types
transforming the 500-acre Rivers on specific projects to inform our of operations needed for the
District into Calgary’s Cultural and design thinking. vitality of the community. This
Entertainment District. This is one of information will inform the
2. Demography and Psychography:
the 10 new CRL-driven projects we planning work for Stampede
The East Village Master Plan
committed to undertake in our 2017– Trail—one of the main
articulated a story and vision
2019 Business Plan (see page 23). development triggers of the
of someone who’d one day
Calgary Stampede Concept Plan.
C2018-0206 Stampede BMO Expansion Review ATT 2 Page 16 of 58
ISC: UnrestrictedItem #12.2.1
Artist’s Rendering: Mir.
C2018-0206 Stampede BMO Expansion Review ATT 2 Page 17 of 58
ISC: UnrestrictedItem #12.2.1
C M L C 2 0 1 8 B U S I N E S S P L A N U P D AT E PA G E 1 8
4. Area Redevelopment Plan 5. Synthesize all public feedback 17th Avenue SE Extension
(ARP): As we prepare to and finalize master plan vision:
deliver a master plan for a new Equipped with stakeholder Another of our 10 new project
downtown east-end community, and public input, CMLC can commitments (see page 23), this
we must coordinate our vision put the final touches on the infrastructure project involves the
and aspirations with the ARP to master plan vision and extension of 17th Avenue SE into
ensure that policy and planning launch into the next phase of Stampede Park to forge a pedestrian
can support future growth strategic communications and vehicular link that increases
objectives. We’ll work with City of and placemaking. connectivity and creates an attractive
Calgary, Business Revitalization right of way for new retail and
Zones (BRZ), community commercial development. This is our
associations, Calgary Stampede first horizontal infrastructure project
and local business operators to scheduled in Victoria Park.
have a public discussion about
In 2017, CMLC selected IBI Group
the community’s urban planning
as prime consultant (civil) and O2
context and how the new
Planning + Design as landscape
ARP can help achieve density
design consultant, and a project
expectations for the community
steering committee was formed with
and attract developers
representatives from CMLC, Calgary
and investment.
Transit and Calgary Stampede.
Project start-up is now underway,
and a concept design is expected to
be ready in March 2018.
C2018-0206 Stampede BMO Expansion Review ATT 2 Page 18 of 58
ISC: UnrestrictedItem #12.2.1
9th AVE SE
Macleod Trail
1st Street SE
E
tS
re e
3rd Street SE
St
7th
11th AVE SE
r
ve
Ri
12th AVE SE
w
bo
Olympic Way SE
6th Street SE
El
5th Street SE
13th AVE SE
14th AVE SE 14th AVE SE
15th AVE SE
17 th AV E SE
Rivers District
Infrastructure/
Critical Connectors
9th Avenue SE Bridge
5th Street SE Underpass
Green Line
17th Avenue SE Extension
El
bo
w
Ri
ve
r
Vision of 17th Avenue and 5th Street SE connections.
C2018-0206 Stampede BMO Expansion Review ATT 2 Page 19 of 58
ISC: UnrestrictedItem #12.2.1
C M L C 2 0 1 8 B U S I N E S S P L A N U P D AT E PA G E 2 0
5th Street SE Underpass 9th Avenue Bridge
into Inglewood
A key piece of infrastructure
for realizing the RDMP is a new CMLC is working with City of DID YOU KNOW?
underpass that connects 5th Street Calgary to co-fund and deliver a
SE to 11th Avenue SE, as the current new vehicular bridge into Inglewood. Built in 1909 to
road network isolates undeveloped The prime design consultant is
accommodate a new
parcels and makes them “land locked” streetcar system, the
MMM Group with support from
existing 9th Avenue
in terms of road access. As part Sturgess Architecture.
Bridge is nearly 110
of our commitment to attracting
Following an engagement program
years old.
investment while increasing the
density, livability, vibrancy and in May 2017 to solicit community
development potential of the area, input on three potential designs, the
CMLC plans to design and construct City selected a final design to be
a 5th Street SE Underpass. Like the shared with the community at an
4th Street SE Underpass that CMLC Open House in 2018.
and the City of Calgary initiated
The City and CMLC are sharing the
in 2008 and opened in 2011, the
responsibility of public engagement
5th Street SE Underpass will be
for this much-needed infrastructure
delivered in two phases: Phase 1—
improvement project. We are
Due Diligence & Design and
currently planning next steps in the
Phase 2—Construction.
engagement process.
This construction program is being
Construction on this City-led project
planned as part of the Victoria
is expected to begin in Q4 2018. At
Park Green Line Interface project
that time, 7th Street SE will close for
described in our 2017–2019 Business
two years.
Plan (see page 38). CMLC will
work with the City of Calgary’s
Transportation Infrastructure
and Green Line teams to realize
efficiencies by aligning with work the
City will be undertaking in 2018.
C2018-0206 Stampede BMO Expansion Review ATT 2 Page 20 of 58
ISC: UnrestrictedItem #12.2.1
C M L C 2 0 1 8 B U S I N E S S P L A N U P D AT E PA G E 2 1
9th Avenue SE Parkade Parkade Innovation Centre
& Innovation Centre • Provide 510 parking stalls • Establish a vibrant presence
In 2014, Calgary Parking Authority • Create active uses other at grade
(CPA) identified a need for additional than parking • Create 50,000 SF +/- of durable,
parking supply in East Village. To flexible space for innovation
• Improve the public realm
meet that demand, CPA decided technology services
at grade
to build a parking structure on one
• Design to support future • 24/7 activation
of the two properties currently
operating as surface lots south of development of east and
After working through the final design in
the New Central Library along 9th west parcels
Q1 2018, we will submit our development
Avenue SE (407 and 363 9th • Create a parkade with a future plans for permitting and prepare for a
Avenue SE). conversion strategy start of construction in 2019.
Since late 2016, the project has been
under CMLC’s stewardship. Our
Shareholder and CPA challenged
us to consider a mix of uses for
the building and ensure its design
allows for conversion space in the
future. Our intent is to design and
construct a parking structure with an
integrated Innovation Centre, each
guided by the following objectives:
C2018-0206 Stampede BMO Expansion Review ATT 2 Page 21 of 58
ISC: UnrestrictedItem #12.2.1
C M L C 2 0 1 8 B U S I N E S S P L A N U P D AT E PA G E 2 2
5 Investment Principles for investment of remaining CRL
Going forward, investment of remaining CRL revenue must:
‘Protect the CRL base’ of multi-family residential
and commercial development within the Rivers
Principle 1
District and achieve the remaining 5.5 million SF
of taxable development
Support projects identified in the Rivers District
Community Revitalization Plan and East Village Master
Principle 2
Plan while aligning with City objectives for growth and
urban densification
Give priority to projects that can activate sooner to
Principle 3
stimulate CRL capture (“time is money”)
Weigh CRL investment against total project magnitude
Principle 4
to allocate funds
Allow CMLC to manage corporate risks by assuming
Principle 5
project management responsibility
C2018-0206 Stampede BMO Expansion Review ATT 2 Page 22 of 58
ISC: UnrestrictedItem #12.2.1
C M L C 2 0 1 8 B U S I N E S S P L A N U P D AT E PA G E 2 3
Our Top 10 for the principles to establish a shortlist acknowledged that only with a
Next 10 Years of 10 projects on which to focus sufficient extension to our CRL
during our following 10 years of term could we direct meaningful
In developing our three-year infrastructure delivery. CRL revenues toward these
Business Plan for 2017 to 2019, mega-projects.
we applied a rigorous strategic Our full list of potential projects
planning process to create a list included three mega-projects—the Note that our shortlist of
of 23 potential new infrastructure Victoria Park Event Centre/Arena go-forward projects does not
projects in the Rivers District. After Facility, Arts Commons and BMO include land strategy as these
careful study, analysis and costing, Expansion—with combined estimated strategic transactions do not
we evaluated each project against costs of approximately $1.5 billion. require the use of CRL funds.
a set of five weighted investment Our Board and our Shareholder
Item Name of Project P1 P2 P3 P4 P5 Total
1 East Village Infrastructure 3
2 East Village Maintenance 3
3 Rivers District Master Plan 5
4 Olympic Plaza (Without Parkade or Upgrades to Municipal Plaza) 2
5 17th Avenue SE Extension 4
6 Green Line Interface/Victoria Park Connector 4
7 CS-Stampede Trail and Victoria Park Strategic Projects 4
8 RiverWalk Stage 3 4
9 9th Avenue SE Cycle Track 3
10 12th Avenue SE Cycle Track 3
For a full list and descriptions of the potential Rivers District projects
we analyzed, see pages 16-17 of our 2017–2019 Business Plan.
C2018-0206 Stampede BMO Expansion Review ATT 2 Page 23 of 58
ISC: UnrestrictedItem #12.2.1 C2018-0206 Stampede BMO Expansion Review ATT 2 Page 24 of 58 ISC: Unrestricted
Item #12.2.1
C M L C 2 0 1 8 B U S I N E S S P L A N U P D AT E PA G E 2 5
Ongoing East Village combination of wood decking and EV Dog Park
Improvements pavers. This will ensure the square
is more resilient while increasing the To meet the needs of pet owners
Safety Precautions and use of natural materials in the area. (or, more accurately, pets) now
Improvements to Public Realm residing in East Village, CMLC
is working to construct a small
In June 2017, CMLC engaged Mount 4th Street SE Underpass dog park near Fort Calgary—a
Royal University Department of spot for Spot to go and ‘go’. To
Since opening in November 2011, the
Criminology to study levels and deliver this new amenity, we are
4th Street Underpass has seen a lot
perceptions of safety in East Village. working with Stantec—the same
of traffic. Designed lighting within
The research team concluded that landscape architect that delivered
the underpass has failed the test
while residents feel safe, they have the adjacent Children’s Park at
of time and needs to be replaced
concerns about drug use and drug Crossroads.
and enhanced. Additionally, the
paraphernalia storage in several
space needs a placemaking focus,
hotspots within the neighbourhood.
especially as CMLC prepares to FAC / CCC
To address these concerns, CMLC
unveil the master plan vision for
has identified three public areas for Early in 2018, we will devote
a new Cultural and Entertainment
design upgrades and intervention: more time and effort to Phase 8
District on downtown Calgary’s east
Riverfront Lane (north end), (8th Avenue SE) to complete all
end. CMLC will replace the lighting
C-Square and the Simmons Building maintenance work in early spring to
with new programmable LED lights,
(basement). We will examine each avoid conflict with the fall opening
which will allow for community
space with an eye toward eliminating of the New Central Library.
programming like that which takes
hiding places, adding better lighting
place on Reconciliation Bridge
and addressing loitering, and we’ll CMLC’s Board has directed us
(formerly Langevin Bridge). We’ll
engage our business owners and to hold all assets under CMLC
also engage our creative community
residents in a KEEP EV SAFE control until the CRL term expires.
to animate the underpass with an
awareness campaign. Not only is this respectful of
extension of our curated mural
the demands placed on our
program currently in place along
Shareholder, it ensures the CRL
Repairs to 5th Street Square Jack & Jean Leslie RiverWalk.
is used as intended—namely, for
In spring 2018, CMLC will remove the responsible stewardship of
5th Street Square’s resin–bound community redevelopment.
gravel—a material that has failed
to meet our high construction
standards—and replace it with a
C2018-0206 Stampede BMO Expansion Review ATT 2 Page 25 of 58
ISC: UnrestrictedItem #12.2.1 C2018-0206 Stampede BMO Expansion Review ATT 2 Page 26 of 58 ISC: Unrestricted
Item #12.2.1
C M L C 2 0 1 8 B U S I N E S S P L A N U P D AT E PA G E 2 7
Project Calgary Housing Innovation Centre
Company
Management CMLC will act as PM to build 50,000
SF of incubator and start-up office
CMLC will act as Project Manager
for Calgary Housing Company for space in the new 9th Avenue SE
an improvement program being Parkade. Technology leaders will
planned for the podium of East own space upon completion (strata
Village Place (610 8th Avenue SE), title) and will operate the Innovation
which comprises approximately Centre per their operational
23,000 SF of community space agreements. CMLC will work with
on the building’s first two floors. Calgary Public Library, Studio
The City has selected a head lease Bell (National Music Centre), Bow
tenant and is making base building Valley College, Beakerhead, Calgary
improvements within the podium to Stampede and the tech sector to
accommodate tenancy. identify programming opportunities
that we can incorporate throughout
the Rivers District in advance of the
Innovation Centre’s construction to
advance our placemaking efforts and
attract new people and new ideas to
East Village.
C2018-0206 Stampede BMO Expansion Review ATT 2 Page 27 of 58
ISC: UnrestrictedItem #12.2.1
C M L C 2 0 1 8 B U S I N E S S P L A N U P D AT E PA G E 2 8
Land Sales Block K (‘EVE Block’) Block Q
& Activations In Q2 2017, CMLC initiated a direct
marketing campaign to identify
CMLC and FRAM + Slokker are
reworking our master Purchase and
a new development partner Sale Agreement to accommodate
for Block K, or EVE Block—the the developer’s exit from the east
last remaining full city block of portion of Block Q (parcels 3 and 4)
development opportunity within and allow a new developer partner
the East Village land program, to enter the program and fulfill the
with approximately 800,000 SF vision for the balance of the block.
of development potential. We FRAM + Slokker will continue to
primed the marketplace with a deliver parcels 1 and 2 and will work
national campaign with online and with CMLC on a Coordinated Site
print ads in The Globe and Mail, Delivery Agreement that describes
Calgary Herald, Vancouver Sun, how all parties can cooperate
Edmonton Journal and Report on on staging and construction of a
Business Magazine, followed up mixed partner site. To identify a
with conversations and meetings suitable partner for parcels 3 and 4,
with more than 100 developers, CMLC will initiate a new developer
brokers and agents. By the deadline, marketing program in Q1 2018.
August 15, we had received three full
responses to the land offering. We
then initiated Phase 2 of developer
negotiations to understand the
development concepts including
product mix, design approach and
land valuation. In September, with
Board endorsement, CMLC entered
full negotiations with our preferred
partner and anticipate a partner
announcement later in 2018.
C2018-0206 Stampede BMO Expansion Review ATT 2 Page 28 of 58
ISC: UnrestrictedItem #12.2.1
C M L C 2 0 1 8 B U S I N E S S P L A N U P D AT E PA G E 2 9
St. Louis Hotel
In Q4 2017, CMLC issued a Request In 2018, we will identify and
for Proposals from prospective announce the new tenant(s) for the DID YOU KNOW?
tenants for the main and lower floors St. Louis and prepare for FFE with a
of the St. Louis Hotel building at view to initiating operations in During the 1980s,
430 8th Avenue SE. To bring the Q2 2019. former Calgary Mayor
building’s structure and systems and Alberta Premier
Ralph Klein held
up to modern standards, CMLC has
court in the St. Louis’
invested $9.2 million into restoring
downstairs pub.
the historic 1914 hotel.
In our view, the St. Louis
Hotel building is well suited to
entrepreneurial businesses with
the artisan spirit of the Maker
Movement—an ideal fit with the
“village retail” dimension of CMLC’s
overall retail strategy for East Village.
While the building’s zoning allows for
many potential uses, CMLC envisions
a main-floor restaurant or craft
brewpub and, on the lower level,
a modern speakeasy.
C2018-0206 Stampede BMO Expansion Review ATT 2 Page 29 of 58
ISC: UnrestrictedItem #12.2.1
C M L C 2 0 1 8 B U S I N E S S P L A N U P D AT E PA G E 3 0
Developer Residential Commercial
Partner Activity With a persistently sluggish
economy, rising interest rates
M2 by XYC Design + Development
and CMHC’s increased mortgage A new commercial development
insurance premiums putting by XYC Design + Development
continued pressure on consumer is expected to break ground on
spending, none of our key developer Parcel M2 in Q2 2018. This project
partners (Embassy Bosa, FRAM + is being co-developed by CMLC
Slokker, Knightsbridge Homes) is and XYC Design + Development. To
expected to launch a new residential enable XYC to deliver the above-
project in 2018. As such, we plan to grade structure (with 21,000 SF
reduce operating hours at the East of commercial space), CMLC will
Village Experience Centre (EVEC) develop the project’s parkade, which
in 2018. we will later divest.
We look forward to welcoming more In November 2017, XYC issued
new residents to East Village in Q4 a Request for Proposals from
2018 with move-ins for FRAM + prospective firms to design and
Slokker’s 288-unit tower Verve and construct the parking structure.
Battistella Developments’ 119-unit We will award the contract to the
condominium project, Ink. successful proponent in Q1 2018. To
coordinate the two project teams
(CMLC’s team and XYC’s team) and
ensure smooth delivery, CMLC will
act as Project Manager (for which we
will earn a project management fee).
C2018-0206 Stampede BMO Expansion Review ATT 2 Page 30 of 58
ISC: UnrestrictedItem #12.2.1
C M L C 2 0 1 8 B U S I N E S S P L A N U P D AT E PA G E 3 1
The Corner by Interloq RioCan ALT Hotel
In November 2017, Interloq Capital RioCan’s 5th & THIRD—180,000 As we prepare for more residents,
Corp. submitted a development SF of urban format retail space we are also preparing for more
permit to City of Calgary for Block B anchored by Loblaws City Market visitors as the ALT Hotel is scheduled
(immediately east of Calgary Drop-In and Shoppers Drug Mart—broke to open in Q4 2018. Representing a
Centre) with plans for a commercial ground in April 2016. 5th & THIRD private investment of approximately
development to help activate the will form the two-storey podium $35 million by Groupe Germain
riverfront. Called The Corner, it for a $500 million retail/residential Hospitalité and local developer
includes a main floor restaurant development that occupies a full Homes by Avi, the 11-storey hotel
as well as a food and beverage East Village block—a strategic will offer 155 pet-friendly rooms and
hall that will accommodate 10- partnership between RioCan and 5,000 SF of meeting space.
12 tenants featuring a variety of one of East Village’s founding
cuisines and ethnicities. multifamily developer partners, Bosa
Development, who will deliver two
spectacular residential towers of
500+ homes.
In November 2017, crews completed
construction of the project’s
underground parking structure (four
levels with 600 stalls). Construction
will now move above ground to
focus on the development of the
two-storey retail podium scheduled
to open to the public in Q1 2020.
C2018-0206 Stampede BMO Expansion Review ATT 2 Page 31 of 58
ISC: UnrestrictedItem #12.2.1 C2018-0206 Stampede BMO Expansion Review ATT 2 Page 32 of 58 ISC: Unrestricted
Item #12.2.1
C M L C 2 0 1 8 B U S I N E S S P L A N U P D AT E PA G E 3 3
Programming While CMLC’s efforts to develop
infrastructure and attract residential
Once again, our goal in 2018 is to
attract more than 100,000 people
& Community and commercial development to the community to witness and
have dramatically elevated the experience the transformation taking
Building connectivity and livability of East place here. Especially in a year with
Village and the Rivers District, our no planned residential launches,
ambitious focus on community quality programming and events will
programming and events has played be vital to building awareness of the
a major role in connecting Calgarians East Village brand.
back to downtown Calgary’s east
end and infusing the area with
palpable, magnetic energy.
In 2018, we’ll continue to build on
our robust community programming
by forging new associations and
developing new programs with
new community groups while
sustaining our existing relationships
and successes.
C2018-0206 Stampede BMO Expansion Review ATT 2 Page 33 of 58
ISC: UnrestrictedItem #12.2.1
C M L C 2 0 1 8 B U S I N E S S P L A N U P D AT E PA G E 3 4
Following are some of the exciting Innovation Centre Victoria Park
new opportunities Calgarians will see Engagement
in 2018: As we prepare to build the 9th
Avenue SE Parkade spaces for As we prepare to deliver a master
carya opening in 2020, we will engage the plan for Victoria Park and continue
tech/tech support community along to promote our vision for a Cultural
Formerly operating as Calgary
with Bow Valley College, New Central and Entertainment District on
Family Services, carya is a non-profit
Library, National Music Centre and downtown Calgary’s east end, we
organization that seeks to engage
Calgary Stampede to design new will collaborate with the City of
individuals, families and communities
community programs with the Calgary, Calgary Stampede, BRZs,
by creating environments that
“programmers” (including “pop-up” community associations and other
support healthier individuals and
exhibitions, classes and hands-on local interests to create engagement
address social and emotional
learning opportunities). tools to tell the story of east Victoria
problems that impact the standard
Park (including a website, video
of living for many citizens.
animation, print pieces and so on).
EV Junction
carya is moving into East Village in
Throughout the period of public
2018—first as operator of the K2EV The highly successful “pop-up retail
engagement, we will develop and
(Kerby2: East Village) temporary experience” that CMLC launched in
implement programs that vividly
seniors’ centre and then more East Village in June 2017 will likely
illustrate the breadth and impact of
permanently as the head lease return in 2018 with expanded space
our placemaking approach. While
tenant in East Village Place with and new offerings. Using modified
many programs will be scheduled
Calgary Housing Company. shipping containers, EV Junction
and promoted, we will also seek
delivers a uniquely engaging
carya’s intention is to create a ways to “pop up” in the community
shopping experience with carefully
space for people to come together in ways that engage residents and
curated retail offerings and services
in ways that promote wellness visitors while educating about our
including fresh produce, street-
and reduce social isolation. Their vision for Victoria Park.
wise apparel, bicycle rentals, artisan
planned programs and services crafts, specialty food items and
include child, youth, family and older much more. In 2018, look for artists in
adult counselling; group programs residence, programmers in residence,
that nurture personal growth, cooperative markets and more.
empowerment and well-being;
community development programs;
youth recreation and education; and
much more.
C2018-0206 Stampede BMO Expansion Review ATT 2 Page 34 of 58
ISC: UnrestrictedItem #12.2.1
C M L C 2 0 1 8 B U S I N E S S P L A N U P D AT E PA G E 3 5
Community Safety Following are the measures we will • Deliver an annual online
Program implement (or begin to implement) community safety and security
in 2018: survey to those living, learning,
Following a comprehensive 2017 working and playing in the
Community Safety & Security Review • Continue to work with Calgary East Village
that included crime data analysis, Police Service to keep local
field observations, stakeholder districts apprised of our • Consider design improvements at
consultations and interviews, focus redevelopment progress in C Square, Simmons Building and
groups and a Community Safety East Village Riverfront Lane to mitigate the
and Security Survey of East Village storage of drug paraphernalia
• Establish a public awareness
residents, CMLC developed a list of
campaign (“See something, say • Open a dialogue with the Drop-
recommended actions to be taken
something!”) that encourages In Centre executive to identify
(with implementation timeframes
residents and business owners to an effective way to locate and
ranging from less than six months to
report criminal activity discard syringes and other
two years).
drug paraphernalia.
• Initiate more frequent security
patrols of the areas around
C-Square, the HI Calgary City
Centre hostel and C-train stations
to deter criminal and antisocial
behaviour and reduce the
public’s concerns
• Deliver a workshop on “skills
for living in an inner-city
neighbourhood” for area residents
and business owners
C2018-0206 Stampede BMO Expansion Review ATT 2 Page 35 of 58
ISC: UnrestrictedItem #12.2.1 C2018-0206 Stampede BMO Expansion Review ATT 2 Page 36 of 58 ISC: Unrestricted
Item #12.2.1
C M L C 2 0 1 8 B U S I N E S S P L A N U P D AT E PA G E 3 7
CHAP TE R T WO
OUTSIDE THE RIVERS DISTRICT
C2018-0206 Stampede BMO Expansion Review ATT 2 Page 37 of 58
ISC: UnrestrictedItem #12.2.1 C2018-0206 Stampede BMO Expansion Review ATT 2 Page 38 of 58 ISC: Unrestricted
Item #12.2.1
C M L C 2 0 1 8 B U S I N E S S P L A N U P D AT E PA G E 3 9
Our Business Strategy
Outside the Rivers District
To create value (ROI) for CMLC and City of Calgary as Through much of 2017, we worked with our Board of
our Shareholder by strategically selecting real estate Directors to explore and define a business strategy for
development opportunities that not only support the CMLC investment and development work outside the
organization’s vision and mandate but also best utilize Rivers District.
our core competencies
Our strategic planning discussions centred on
establishing a framework for guiding our decisions and
actions outside the bounds of our original mandate.
Specifically, we worked to define CMLC’s market position
and ways of working as a development company, the
principles that will inform our investment decisions, our
expectations with respect to ROI, and our key measures
of success.
C2018-0206 Stampede BMO Expansion Review ATT 2 Page 39 of 58
ISC: UnrestrictedItem #12.2.1
C M L C 2 0 1 8 B U S I N E S S P L A N U P D AT E PA G E 4 0
Our Environmental Scan What we learned Further, we learned that in our
philosophy and approach, CMLC is
For context and perspective, Assessing the similarities and very much a “social purpose”
we performed an environmental differences among the organizations organization in that we:
scan of government-owned we interviewed helped illuminate and
and regulated development reinforce CMLC’s core competencies • Pursue both profit and social
organizations in Canada with a and proven strengths: missions (e.g., environmentalism,
focus on mandate, jurisdiction, urban renewal)
• Our ability to envision, master-
financial strategy and investment
plan and execute redevelopment • Resemble regional/small-scale
best practices. To gain deeper
and placemaking on a large developers in our organizational
understandings of their operations,
(community-wide) scale structure
approach and ROI expectations,
we interviewed six organizations: • Our skills in place-brand • Employ special skills (for example,
Build Toronto, Waterfront Toronto, marketing and in using innovation) to achieve social aims
Surrey Development Corporation, programming and events to while maintaining profitability
Waterfront Development (Halifax), bring communities to life
Centre Venture Winnipeg and • Are not necessarily risk-averse
Canada Lands Company. • Our similarity to successful nor risk-tolerant, but often require
private-sector development municipal cooperation through
companies in leveraging zoning, regulation or incentives
redevelopment to attract (for example, land parcels our
investment and activate assets Shareholder deems surplus or
and amenities. difficult to develop yet critical to
stimulating investment or community
vitality need to be considered as
transferred assets (book value versus
market value) to CMLC to allow for
redevelopment)
• Expect, at minimum, a financial
return of 5 to 7%. This is a directive
from CMLC’s Board of Directors,
which has prescribed a balanced,
pro-forma-driven portfolio approach
when considering new projects.
C2018-0206 Stampede BMO Expansion Review ATT 2 Page 40 of 58
ISC: UnrestrictedItem #12.2.1
C M L C 2 0 1 8 B U S I N E S S P L A N U P D AT E PA G E 4 1
As such, we saw fit to include Entrepreneurial Community-minded
“Community-minded” among our
previously articulated core values, Things happen quickly in our While operating profitably with
as follows: world. We think on our feet, make a view to being financially self-
important decisions on the fly, trust sustaining is important to our
Innovative our experience and our skills. We act company, profit is not our only
like a small, private company and we metric. Recognizing that the
We operate on the basis of feel like a perpetual startup. We like citizens of Calgary are the ultimate
international best practices, and we it that way. beneficiaries of our redevelopment
are open to new and better ideas, no and placemaking efforts, a project’s
matter where they come from. We Passionate capacity for social benefit is one of
venture willingly into new territory. the things that drives and inspires us.
We seek, above all, to make our
Measures of success in our pursuit
Collaborative home, Calgary, a better place to live,
of social benefit include attracting
and every member of our team has
We have learned that we can best development and investment,
personally bought into the value
advance our projects when we elevating community brand and
of the enterprise. So while we are
engage other teams and groups reputation, improving quality of
supremely professional, we are
who have an interest in successful life, fostering a sense of ownership
equally passionate. We care, and we
outcomes. We share intelligence among residents and increasing
seek to make the city a better place
and opportunity. participation (in volunteering,
to live every single day.
program development, etc.) among
Accountable Calgarians. As we continue to work
within the spaces where the interests
We hold ourselves to high standards
of the government, private and
of transparency and expect the same
not-for-profit sectors intersect, we
of our partners. We have spent the
will continue to hone our proven
first 11 years of our existence earning
capacity for recognizing and
the trust of our partners, and being
maximizing social benefit.
scrupulously honest and accountable
is the way we’ve done it.
C2018-0206 Stampede BMO Expansion Review ATT 2 Page 41 of 58
ISC: UnrestrictedItem #12.2.1
C M L C 2 0 1 8 B U S I N E S S P L A N U P D AT E PA G E 4 2
Investment Principles As we have been discussing with 3. Maintaining control and visibility
for Projects Outside the Mayor and members of City
Council, CMLC is prepared to be CMLC will maintain control over
the Rivers District costs, price and quality.
strategically deployed to help the
In our 2017–2019 Business Plan, City achieve its long-term real
We will ensure sound financial
we outlined the five Investment estate strategy. In those endeavours,
management and due diligence
Principles we used to prioritize we will work collaboratively and
by adhering to approved processes
spending of the remaining CRL cooperatively with the City’s other
and basing decisions on timely,
generation within the Rivers District real estate departments (Urban
accurate data.
(see page 22). Strategies, OLSH, RE&DS) to
maximize the efficiency and success We will also undertake socially
In collaboration with our Board of of administration’s city-building and environmentally responsible
Directors, we have articulated a objectives. projects with the power to transform
companion set of principles that communities provided they include
will further guide our investment 2. Achieving return on investment
approved processes that foster
decisions outside the Rivers accountability and transparency
Profit is not merely an objective but
District, where investment cannot (e.g., public engagement).
a requirement. We need to clearly
be funded by CRL dollars but calls
assess profitability with respect to
instead for traditional forms of 4. Ensuring alignment with CMLC’s
CMLC’s operations and ensure, at a
land development financing. Each strategic vision and capability
minimum, a 5% return on investment.
potential project will be evaluated
For each potential project, we will The projects we undertake must
against four distinct criteria:
perform a rigorous, pro-forma- align with our company’s proven
1. Maximizing Shareholder return based analysis before seeking Board competencies: brownfield/
approval. urban redevelopment, mixed-
We will prioritize project investment use development (residential/
that creates long-term viability Unless we will realize a higher ROI
commercial/institutional),
for Calgary’s urban communities, in the long term, CMLC will not
infrastructure delivery, land strategy,
supports the City of Calgary’s play the “long game”; we will keep
branding and engagement, and
objectives for urban densification, our investment in a project for a
project management.
placemaking and community maximum of five years.
building, and considers future
CMLC will charge a management
dividend payments.
fee of 2–5% for our expertise, to be
negotiated per file.
C2018-0206 Stampede BMO Expansion Review ATT 2 Page 42 of 58
ISC: UnrestrictedItem #12.2.1 C2018-0206 Stampede BMO Expansion Review ATT 2 Page 43 of 58 ISC: Unrestricted
Item #12.2.1
C M L C 2 0 1 8 B U S I N E S S P L A N U P D AT E PA G E 4 4
Current &
Potential Projects
CMLC has targeted the following School sites and similar Transit Oriented
development work, which aligns City of Calgary assets Development (TOD)
perfectly with our capabilities Projects
and knowhow: David D. Oughton (DDO) School
site • In 2017, CMLC undertook As the City of Calgary advances
community engagement and studied the Green Line program and other
the development opportunity and TOD sites and projects, CMLC could
concepts for the 8.3-acre site at capably take the lead in developing
511 34th Street SE. In 2018, we strategies and delivering these
will prepare an Overview Plan projects for the benefit of the City.
that enables the ARP to support
redevelopment. We will then wait for
market conditions to improve before
Heritage Building
marketing to attract a development Adaptation and
partner who can deliver on our Repurposing
visioning and engagement work.
We are prepared to analyze and
While DDO is unlikely to return a
evaluate City-owned heritage
profit for CMLC, our Shareholder
buildings and assets with available
considers it an important catalyst
surrounding lands that can be
project. Properly executed, DDO
reworked to create a catalyst for
will signal to other landowners
community investment.
and investors that the community
is evolving. To align with our new
Board-directed development
principles and achieve the expected
5% return on investment, we will seek
to deliver the DDO project together
with another project that can
deliver profit.
C2018-0206 Stampede BMO Expansion Review ATT 2 Page 44 of 58
ISC: UnrestrictedItem #12.2.1
C M L C 2 0 1 8 B U S I N E S S P L A N U P D AT E PA G E 4 5
Industrial Lands Project Management
5736 75th Avenue SE • For a parcel CMLC has demonstrated our
of land near the Calgary Film Centre, ever-expanding expertise in DID YOU KNOW?
CMLC has completed an early market Project Management. More
Calgary’s Inventory
investigation of the development and more, groups like Calgary
of Evaluated Historic
opportunity for condominiumized Stampede, Zinc Ventures, Calgary Resources (a list of sites
office/retail storage units. Again, as Housing Company, Repsol Sport evaluated by the Calgary
market conditions improve, CMLC Centre, Calgary Bid Exploration Heritage Authority)
will seek a developer partner for Committee (CBEC), Calgary contains 839 heritage
the site. Economic Development and others buildings and sites.
are turning to CMLC to provide
We will continue to seek out other strategic thinking and guidance on
sites for similar purposes. redevelopment and placemaking
programs. Understanding our
Community Interventions/ value as developers and project
West Village managers, we will seek out more
contract opportunities as a means
Redevelopment
of maximizing our bottom line
For communities deemed by the performance.
City to require special intervention
through redevelopment and
placemaking efforts: following
strategic discussions with the City
and the transfer of lands on terms
favourable to CMLC, we would
imagine and deliver master-planned
neighbourhoods in a manner akin to
our highly successful delivery of
East Village.
C2018-0206 Stampede BMO Expansion Review ATT 2 Page 45 of 58
ISC: UnrestrictedItem #12.2.1 C2018-0206 Stampede BMO Expansion Review ATT 2 Page 46 of 58 ISC: Unrestricted
Item #12.2.1
C M L C 2 0 1 8 B U S I N E S S P L A N U P D AT E PA G E 4 7
CHAPTER THREE
F I N A N C E & C O R P O R AT E S E R V I C E S
C2018-0206 Stampede BMO Expansion Review ATT 2 Page 47 of 58
ISC: UnrestrictedItem #12.2.1
C M L C 2 0 1 8 B U S I N E S S P L A N U P D AT E PA G E 4 8
Corporate 1. Governance and Policy Corporate governance plays
an important role in the way
Services CMLC’s Board of Directors continues
to provide strong, committed
CMLC works with consultants
and stakeholders to deliver all
leadership to the Company, and a infrastructure projects, including
subcommittee of the Board provides the New Central Library and the
specific governance leadership. 9th Avenue Parkade. To ensure the
To further assist with governance, success of all projects, we must
additional subcommittees focus on balance the needs and wishes of
Compensation & Human Resources, all key stakeholders with a strong
Audit, and Environment, Health & governance plan.
Safety. In 2017, the Board approved a
policy to limit Board members’ terms CMLC will also work to formalize
to create a balance of continuity and our corporate responsibility plan to
turnover. ensure we exhibit consistent strong
values throughout our operations.
At an operational level, CMLC’s
management continues to update
corporate policies and our employee
manual as necessary. CMLC will
continue to operate in a transparent,
timely, efficient manner and in the
best interest of our Shareholder, the
City of Calgary.
C2018-0206 Stampede BMO Expansion Review ATT 2 Page 48 of 58
ISC: UnrestrictedItem #12.2.1
C M L C 2 0 1 8 B U S I N E S S P L A N U P D AT E PA G E 4 9
2. Strategic Planning 3. Administrative 4. Enterprise
Operations Risk Management
CMLC’s Board and staff are
committed to bringing ongoing value A significant component of CMLC’s CMLC’s Enterprise Risk Management
to our Shareholder and ultimately administrative operations involves (ERM) program gives the organization
the citizens of Calgary. CMLC ongoing support of infrastructure a systematic approach to managing
continues to identify and evaluate delivery, development deals and all risk. The ERM program is embedded in
strategic opportunities outside the of our business units. We ensure our CMLC’s business activities to enhance
Rivers District. We offer a unique development partners adhere to effective project management,
skill set and can apply the talents we the master plan through the design and it gives the Board, the senior
used to stimulate redevelopment of process, and we assist them in the management team and the rest of the
East Village in other parts of Calgary. planning and permitting process with organization improved risk information
We have identified and discussed the City of Calgary when necessary. to support strategic decision making.
with our Shareholder a number
of strategic opportunities and Other administrative operations The ERM program gives us a platform
redevelopment initiatives including include ongoing information and process to consistently identify
the David D. Oughton School technology support; overseeing and assess risks and a clearly defined
site and the Film Centre lands. all building operations; corporate risk governance structure with
CMLC is evaluating these potential financial reporting and financial clear roles and responsibilities and
development options and will analysis; contracting and purchasing; clear alignment between strategic
present our plans to the Shareholder risk management; ongoing review objectives and organizational risks.
for consideration and approval as of CMLC’s internal controls; and
they are fully developed. formalization of CMLC’s operating
best practices.
CMLC management continues to
develop a comprehensive Human
Resources strategy.
C2018-0206 Stampede BMO Expansion Review ATT 2 Page 49 of 58
ISC: UnrestrictedItem #12.2.1 C2018-0206 Stampede BMO Expansion Review ATT 2 Page 50 of 58 ISC: Unrestricted
You can also read
