Council receives update on Lansdowne financials and operations

Council today received the 2024 Lansdowne annual report. The partnership between the City and the Ottawa Sports and Entertainment Group (OSEG) saw improved revenues of $59.5 million in 2024, a four-per-cent increase over the previous year, with a similar increase in interest payments due to higher interest rates related to the refinancing of the retail loan. The number of events at Lansdowne increased, with TD Place hosting 180 ticketed events, 10 more than in the previous year. Lansdowne’s approximately 350,000 square feet of rentable retail and office space was fully leased at the end of the 2023/24 fiscal year as well, and parking revenues were up 27 per cent over the previous year. From June 2023 to May 2024, the urban park hosted 409 activities over 220 event days and 56 farmers’ market days. With more events, City revenues increased by 21 per cent over 2022 and exceeded revenue expectations by 24 per cent, reducing the park’s operating costs. The partnership continues to experience net financial losses, however, emphasizing the need for strategic improvements to achieve long-term sustainability. After non-cash depreciation, interest and borrowing costs, the partnership’s net loss from recurring operations was $9.2 million. The City does not expect to receive any distributions from the partnership over the 40-year term of the agreement as OSEG is not expected to recover all the equity it has contributed to date. Council approved a motion directing staff to provide an update on the potential impacts of a Canada-U.S. trade war on the City’s procurement practices. Staff will devise a plan to ensure City procurement by-laws and processes support the purchase of local, Canadian and non-American goods and services, wherever possible. The City will work to create local supply chains for products and services currently being purchased from American companies. Mayor Sutcliffe will meet with local businesses to develop an action plan to promote local products and will also work with the City of Gatineau to push to eliminate interprovincial trade barriers. Council directed staff to bring forward a zoning amendment to permit shelter use in all urban zones, consistent with the Official Plan and the proposal put forth in the draft comprehensive Zoning By-law. Amending the current by-law will help the City deliver housing options more rapidly by reducing red tape and ensuring it is better placed to take advantage of potential federal and provincial funding that might be offered in 2025 to address the housing and homelessness emergency. This could include funding to acquire existing housing to be converted to emergency and transitional shelter, or funding to build new shelters. Council also approved Official Plan and zoning amendments to establish land-use policy for siting Battery Energy Storage Systems (BESS) in Ottawa. Battery storage is increasingly vital for personal and professional uses, and the current dominant energy storage technology is lithium-ion batteries, which are commonly used in mobile phones and electric cars. While the Province is the regulator and owner of electricity generation supplies, municipalities have siting authority over the location of such projects. The amendments approved today provide a path forward for interested BESS proponents to invest in Ottawa. For more information on City programs and services, visit ottawa.ca, call 3-1-1 (TTY: 613-580-2401) or 613-580-2400 to contact the City using Canada Video Relay Service. You can also connect with us through Facebook, X (Twitter) and Instagram. Related topics

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