Mayor Daryl Bennett and Ryan Moore, First Vice President of the Peterborough Agricultural Society Board, are pleased to announce the City and Society have reached a tentative agreement to resolve the long-standing impasse regarding interpretation and application of the Morrow Park Transfer Agreement.
The City is the owner of Morrow Park under the terms of the Transfer Agreement which also sets out various rights and obligations the City and Society have with respect to the property. The City and the Society have for many years disagreed on the interpretation or application of certain parts of the Transfer Agreement. During 2014, an arbitration proceeding was initiated to finally resolve their differences.
In December of 2014, however, the Society expressed a desire to enter into confidential discussions to put the arbitration on hold and find a solution to the impasse. Society Board members Ryan Moore, Debra Post and Patrick Martin represented the Board, and Mayor Bennett and Chief Administrative Officer, Brian Horton, represented the City throughout the pursuing discussions
Those discussions have led to a benchmark Interim Agreement that commits the City to providing transitional funding to the Society to support its 2015 and 2016 Exhibitions, clear up the Society’s payables and allow the Society to undertake a strategic planning process during 2015. In exchange, the Society commits to work toward developing a new Final Agreement by May 31, 2016 to replace the existing Transfer Agreement and the Society provides further commitments that will be binding on the parties whether or not a new Agreement is ultimately signed by them.
“This is a milestone moment”, Bennett and Moore said. “We have put the past behind us and are focusing on the future to ensure the Society’s and City’s objectives can be met in a spirit of new co-operation.”
The Society has endorsed the Interim Agreement, and a report to seek Council approval will be presented to a Special Committee of the Whole meeting Monday April 27, 2015. It is expected to be ratified later the same evening during the Council meeting
This information is also available on the City of Peterborough website at www.peterborough.ca.
Source : http://www.peterborough.ca/Assets/City+Assets/Media+Releases/2015/2015-04-23++Morrow+Park+Transfer+Agreement.pdf