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BUSINESS PLAN . DRIVE for 2020 What We Measure 09 Performance Indicators Why We’Re Here

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BUSINESS PLAN . DRIVE for 2020 What We Measure 09 Performance Indicators Why We’Re Here why we’re here 01 corporate history who we are 02 organizational structure how we do it 03 method and approach what we do 04 programs and services how we’ve done 05 performance outcomes we’re here now 06 market analysis where we’re going 07 strategic actions how we get there 08 financial forecast BUSINESS PLAN . DRIVE FOR 2020 what we measure 09 performance indicators why we’re here MARKET LANDS 17 INITIATIVE LAUNCHED 01 TRUE NORTH SQUARE ANNOUNCED 15 THE SHED 10 DEVELOPMENT STRATEGY LAUNCHED TAX INCREMENT FINANCING LEGISLATION ENACTED 09 LINDSAY BUILDING 03 1ST DONTOWN HOUSING PROJECT IN 13 YEARS WATERFRONT DRIVE CONCEPT PLAN DEVELOPED 01 CENTREVENTURE 99 FOUNDED 2 CentreVenture was established by Winnipeg City Council mandates, strong gains were not being made in terms The City of Winnipeg report that established CentreVenture on May 13, 1999, in response to recommendations of new private investment throughout the downtown. embraced this idea. It described the need for a close made by a Downtown Task Force, struck by Economic Further, while many large-scale public/private development collaboration between the public and private sectors, Development Winnipeg (EDW) in 1998. The Task projects had been undertaken (e.g. Convention Centre/ with its downtown development corporation acting as Force, comprised of community and business leaders, Lakeview Square, Portage Place/North Portage, Trizec/ an informed intermediary. It directed complementary was established to find a new approach to revitalizing Winnipeg Square), these projects were not spurring the actions to achieve revitalization of the downtown: that downtown, in the context of a declining downtown tax finer-grained development required for the downtown to The City of Winnipeg would implement user-friendly base with numerous storefront vacancies, derelict heritage reach its full potential: things like heritage restoration, new regulatory processes for downtown development and properties, and the exodus of longstanding downtown housing, destination retailers, independent shops, cafes, that CentreVenture would be tasked with attracting and businesses. etc. Something else was needed. finalizing private investment. Working in partnership, The City and CentreVenture would ensure that, “improvements Their primary recommendation was as follows: The Downtown Task Force described that an to public spaces are initiated strategically, either to entrepreneurial authority could bridge this gap in a new complement or to stimulate private sector investments.” “That a sustainable Downtown Development Authority way: be created to provide leadership in the planning, In late 2015, Winnipeg City Council renewed development, coordination, and implementation of “It will provide professional guidance and direction CentreVenture’s orginal madate. projects and activities in the downtown; and that a to the private sector, and where appropriate enter public-private partnership approach is pursued to build into joint ventures and public private partnership on the expertise and innovation of the private sector arrangements. As an entrepreneurial public sector CENTREVENTURE MANDATE: and the political leadership and policy development development corporation it will be the promoter and capacity of the public sector”. facilitator of downtown development. It will identify to provide leadership in projects and develop the business case with the the planning, development, While the concept of a downtown development corporation private sector to encourage quality initiatives.” for Winnipeg had been studied going all the way back to coordination, and the 1970’s, the EDW Downtown Task Force was the first to implementation of projects set out concrete actions to achieve it. The Downtown Task Force underscored that while the BIZ’s, The Forks North and activities in the downtown Portage Partnership, Economic Development Winnipeg were achieving great results toward their respective 3 corporate history who we are 02 MAYOR & CITY COUNCIL PUBLIC ACCOUNTABILITY BOARD OF DIRECTORS GOVERNANCE & OVERSIGHT PRESIDENT & CEO PROFESSIONAL MANAGEMENT STAFF TEAM 4 CentreVenture Development Corporation is a non-share The Corporation is overseen by an experienced, volunteer Day-to-day operations are overseen by a small, capital corporation governed by The Corporations Act Board of Directors comprised of business and community professional management team, consisting of five of Manitoba, CentreVenture’s By-Laws, City of Winnipeg leaders. Potential Directors are nominated by the Board full-time equivalents. Employees of the corporation are Council directives, funding agreements, and Board and approved and appointed by the Mayor of the City recruited to ensure the team possesses a cross section enacted governance policies. of Winnipeg, and ratified by City Council. Officers of the of educational credentials and working experience in Corporation are elected by the Board including the Chair, the areas of city planning, urban design, real estate and The Mayor of the City of Winnipeg is the sole Member of Vice-Chair, and Secretary-Treasurer. business case analysis, financial management, and public the Corporation and the Honorary Chair of the Board of adminstration. Directors. The Corporation reports on its activities to the The Board oversees corporate business and strategic entire City Council and takes its policy direction from ‘Our planning, establishes a policy-based governance system, Winnipeg’, the City’s long-term development plan. and recruits, supervises, and evaluates the CEO. They are stewards of the assets of the Corporation, responsible for CentreVenture works closely with the Planning, Property adopting and monitoring the annual budget, approving the and Development Department (PPD) of the City of annual audit, and approving all expenditures over $10,000, Winnipeg through various working committees. Ex-officio all loans, and all acquisition or disposition of property. positions on the CentreVenture Board of Directors are held for senior adminstrators at the City of Winnipeg and the Province of Manitoba. 5 organizational structure how we do it COLLABORATION KNOWLEDGE 03 EVID ENC E G BA IN SE N D R A E L L A U T U M D E T N E I R O S E C R M IT O IC C A UT L T O HIN KING STRATEGY FOCUS 6 CentreVenture operates with a public interest objective, The Corporation does not typically hold properties for CentreVenture keeps a laser focus on achieving positive first and foremost: revitalizing the downtown for the the long-term, but instead works to leverage private outcomes for the downtown and the City of Winnipeg. benefit of all Winnipeggers. The Corporation works investment in underutilized properties, moving as swiftly When CentreVenture approaches projects it looks not only to carefully understand private sector imperatives to as possible to invest in the next downtown revitalization at the direct financial return to the Corporation, it assesses investment in the downtown, and then to mediate or opportunity. the overall impact of a project on the downtown and the balance those with broader social, environmental and financial/economic return to its shareholder, the City of economic objectives for the downtown. This is achieved With its ear constantly to the ground, CentreVenture has Winnipeg, through incremental business and property through respectful collaboration. a strong understanding of how the downtown market taxes and resulting economic spin-offs. operates and, where required, undertakes formal research The Corporation is unique in Canada, and differs from and analysis to fully understand barriers and opportunities. CentreVenture has been studied by many cities and is other asset-specific development corporations, in that it’s The Corporation is proactive, using its knowledge and often called upon to share its experiences and successes. not tasked with the ownership of any specific building, market intelligence, to identify, design, and implement new spaces, or amenities. The Corporation’s mandate is strategies and programs to further advance investment downtown-wide and its property and project interventions and revitalization of Winnipeg’s downtown. are dispersed through the downtown, based on district strategic plans and market assessments of underutilized properties and development opportunities that evolve and adjust over time. 7 method and approach what we do 04 facilitation, coordination & planning Property assembly PROJECT FINANCING MARKET GAP SUPPORT 8 Facilitation, Coordination, & Planning CentreVenture acts as a one-stop-shop and concierge Development Winnipeg (EDW), The Winnipeg Chamber of service for those embarking on development projects Commerce, and the Forks North Portage Partnership to in the downtown. The Corporation provides up to ensure that collective actions are complementary. date market information, offers guidance to investors navigating the downtown development process, and CentreVenture organizes its activities through a facilitates access to various supports and programs. ‘district strategy’ planning approach, recognizing that Winnipeg’s downtown is large and an amalgam of distinct Staff of the Corporation have fostered strong working neighbourhoods with different assets and opportunities relationships with people throughout the downtown that warrant a tailored approach to investment and investment sector including property owners and revitalization. These tangible and visual strategies flow businesses, developers, banks, mortgage and leasing from the Complete Communities Direction
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