The City of Richmond (the “City”) has engaged the Richmond Olympic Oval Corporation (the “Corporation”), to embrace and deliver: The City’s Vision to be “the most appealing, liveable, and wellmanaged community in Canada”; The Project Vision for the Richmond Olympic Oval (the “Oval”) to be “an outstanding centre of excellence for sports and wellness at the heart of an exciting urban waterfront”; and The Project Mission to “transform our City by blending the spirit of Olympism with inspired leadership, and seamlessly combining a world class site, a sport and wellness agenda and innovative community planning to create the premiere legacy of the 2010 Olympic and Paralympic Winter Games” (the “Games”).
The City and the Corporation are parties to an operating agreement dated July 1, 2008 (the “Operating Agreement”) wherein the following four objectives are noted:
the Oval will provide facilities, programs and services for quality sport, fitness, recreational uses and wellness services for the Richmond community, neighbouring communities and the general public;
the Oval will provide facilities for non-sporting, community and entertainment events;
the Oval will be developed, used and promoted as a training and competition facility for high performance sport; and
the Oval will provide ancillary commercial, retail, health and wellness services to enhance its use in respect of the activities set out above.