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CMLC ANNUAL REPORT 2020 2 3 CONTENTS 04 INTRODUCTION 42 STRATEGIC PLAN UPDATE 08 HIGHLIGHTS & MILESTONES 47 INDEPENDENT AUDITOR’S OF 2020 REPORT 10 City-building highlights 50 ACCOUNTABILITY & 15 Planning & infrastructure GOVERNANCE 19 Land sales & 57 MANAGEMENT’S DISCUSSION commercial leasing & ANALYSIS 22 Development partner activity 61 REPORT OF MANAGEMENT 26 Retail openings 62 FINANCIAL STATEMENTS 30 Project management 68 NOTES TO FINANCIAL 34 Programming & public art STATEMENTS 38 Marketing 84 TEAM CMLC 40 Corporate communications 41 Safety & vitality 4 5 “In a truly extraordinary year, CMLC rose above countless challenges and delivered, INTRODUCTION as always, exceptional projects for our city and outstanding value for our shareholder. Despite the limitations everyone faced in a year defined by COVID-19, where our daily routines and typical ways of working were completely upended, CMLC found ways to roll with the punches and forge stalwartly onward with our important community- building work.” KATE THOMPSON President & CEO 7 RISING TO NEW CHALLENGES For nearly everyone on the planet, 2020 was a year dramatically defined by the challenges and the changes wrought by the COVID-19 crisis. As its ripple effects reverberated through our community, our resilience as an organization was put swiftly and continually to the test. And, as we’ve always done in the face of unforeseen obstacles, after calmly and thoughtfully taking stock of our projects and the risks we now had to consider, CMLC rose confidently to these new challenges. This new world order called for extraordinary adaptations in every facet of our business—our ongoing redevelopment and construction activities, the many ways we support our partners, and the placemaking and community programming initiatives that have underpinned our success here in Calgary’s east end from the outset. With the necessary modifications for ever-evolving public health protocols, we forged full steam ahead on our four major projects: the BMO Centre expansion, Event Centre, Arts Commons Transformation and extension of 17th Avenue SE across the LRT tracks into Stampede Park. Proceeding with these projects responsibly—adapting to the impacts of COVID along the way—will be an important part of Calgary’s long-term economic recovery. Similarly, we found new and creative ways to bring people safely together through social and recreational programs that also laid the groundwork for continued safe use of outdoor gathering spaces. With the built-in flexibility and innovation needed to navigate complexities both within and beyond our control, CMLC moves forward with full confidence in our ability to continue creating exceptional spaces and outstanding value for all Calgarians. 8 9 “In a year that was anything but ‘business HIGHLIGHTS as usual’, the CMLC team quickly adapted and found ways to carry on with business almost as usual. Applying their expertise & MILESTONES in managing complex projects with many moving parts, they maintained momentum OF 2020 on the BMO Centre expansion—a key component of the Rivers District Master Plan and an undertaking that will deliver major benefits to the entire city, in both its near- term economic recovery and its long-term status as a world-class destination.” DANA PEERS Interim CEO, Calgary Stampede 10 11 CITY-BUILDING HIGHLIGHTS Conceptual rendering 2020 was an exceptional year. Yet in many ways, BMO CENTRE EXPANSION it played out very much the way we envisioned it before COVID-19 struck. Over these 12 months, we Calgary’s premier venue for consumer and trade shows, special unveiled the BMO Centre’s new design and saw events, meetings and conferences is getting the makeover of a lifetime. Upon completion of this $500-million expansion— the site’s pre-construction preparations through BMO Centre’s first renovation since 2009—Calgary will rank to completion—including construction of Hall F. among top-tier convention destinations around the world. We led a robust engagement program for the new The site saw significant developments over a busy 2020. Event Centre and began filling out that project’s In June, the internationally recognized design team of Stantec, team roster. All the while, the 17th Avenue extension Populous and S2 Architecture revealed the expansion’s new nudged ever closer toward its groundbreaking and, design—a spectacular three-level structure with a sweeping toward the end of the year, we got rolling on the copper-inspired façade and roofline and acres of outdoor Arts Commons Transformation. Read on for all the plazas. The facility’s interior spaces—ample, adaptable and amenity-rich—include exhibition halls, ballrooms and an airy and exciting details. flexible central hub. The generous outdoor spaces will include plazas, retail and café offerings, and public art. In August, crews finished construction of Hall F—a 100,000 SF facility on the north side of the existing building—on time and on budget. Opening this building will allow BMO Centre and Stampede business to continue without interruption during construction. Over the winter, the Corral and Hall A were demolished. Many pieces of Corral memorabilia have been preserved and safely stored, while items too big to be saved have been digitally chronicled. Of the 16,000 tons of material removed during demolition, 94 percent was diverted from the landfill and will be recycled or reused in other projects. Crews will break ground on the expansion in spring 2021, and it remains on track for a 2024 completion. Conceptual rendering Conceptual rendering 13 ARTS COMMONS TRANSFORMATION In 2019, City Council endorsed the funding strategy for the Arts A.W. Hooker as cost consultants, and AMS Planning will support Commons Transformation (ACT)—a major cultural infrastructure business model planning for the expanded facility. expansion that will give a significant boost to Calgary’s arts and culture community…and the C+E. Subsequent to year-end, in early 2021, we will initiate the ACT engagement program to gather input from key stakeholders, In October 2020, the three project partners—Arts Commons, user groups and the public prior to initiation of project design The City and CMLC—formalized the development agreement work. Through the remainder of the year, we’ll complete the that allows the design process to begin in earnest. Subsequently, engagement program and select the pre-construction manager, we put out a request for proposals to procure the first members acoustic consultant and prime design consultant, who is of the ACT project team. After reviewing the submissions, we expected to complete the concept design and initiate work on selected Colliers as project manager and Fisher Dachs Associates the schematic design. as theatre consultant. Venue Consulting will collaborate with EVENT CENTRE A significant component in the vision for the city’s Culture + In June, CMLC, The City, and Calgary Sports and Entertainment Entertainment District (C+E), this major community-building Corporation announced selection of the project team: the two- project in east Victoria Park is giving Calgary a world-class firm partnership of DIALOG + HOK will lead the design of the sports and entertainment facility, outdoor festival spaces and facility while the duo CANA + Mortensen will lead construction. enhanced Stampede Park infrastructure. With due consideration of feedback from our engagement From January to March, we undertook a public engagement program, the design team completed the concept design in program for the new facility. Although COVID-19 impelled us to October (and the schematic design, after year-end, in January cut the program short, we still managed to directly engage with 2021). CMLC continues to manage procurement for the nearly 2,000 community members at 23 in-person events and remainder of the project team, which we’ll select through 2021. with 22 different community organizations at five roundtable sessions. In addition, we collected feedback from more than In September, we worked with The City’s urban forestry team 14,500 citizens through an online survey. and professional big-tree movers Environmental Design Inc. to assess the possibility of relocating the stately elm tree on the Event Centre site. If viable, the move will take place in 2021. 14 15 Building a new bridge, improving connections, making bike-friendlier roads…these are a few of the infrastructure projects we worked on in PLANNING & 2020. Always eager to find new ways to beautify the community while making it ever-more welcoming, engaging and easy to get around, we embark on every undertaking, large and INFRASTRUCTURE small, with an unwavering devotion to livability and community-building. Conceptual rendering 17TH AVENUE SE EXTENSION + VICTORIA PARK/STAMPEDE STATION REBUILD This major transportation infrastructure upgrade—east Victoria Demolition of the station will begin in summer/fall 2021 and a Park’s first—will forge a vital vehicle and pedestrian connection temporary station will be installed to ensure transit continuity across the LRT tracks and into Stampede Park. When the for riders during construction. We expect the new station to be dust settles, the community will have a functional, attractive complete in 2023. pedestrian and vehicle corridor, an accessible street-level pedestrian approach and a barrier-free transit station. In 2020, the team wrapped up the demolition and relocation of several buildings within Weadickville in Stampede Park and installed support piers and girders over the Elbow River for the siding track bridge. Conceptual rendering 16 17 9TH AVENUE SE BRIDGE REPLACEMENT Having reached the end of its projected lifespan, the 100-year- old structure bringing 9th Avenue SE across the Elbow River needed to be replaced. Work began on this City-led project in 2019 and progressed as planned through 2020, with a minor pause caused by delays in the materials supply chain. In 2020, crews completed construction of a temporary bridge that enabled traffic to continue crossing the Elbow during construction. The new bridge—a $23 million build, to which CMLC has contributed $7 million—will support future transit improvements, meet modern design standards and improve flood resiliency.

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