City Council Endorsing Five-Year Agreement For Lakers Lacrosse Association To Use the Peterborough Memorial Centre

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Council has endorsed a new five-year agreement between the City of Peterborough and Lakers Lacrosse Association Inc. to use the Peterborough Memorial Centre including box office services and game-day expenses at Monday’s Council meeting.

File Photo.

Terms of the agreement would include:

  • A five-year term starting April 1

  • A fixed-rate rental fee for use of the facility for $1,607 plus tax, increased annually based on inflation

  • A fixed-rate fee for game day expenses of $4,636 plus tax for each game, increasingly annually based on inflation

  • A per-ticket fee on all Lakers tickets for Box Office charges that would be $1 plus tax to start, increasing to $1.50 plus tax in the third year of the agreement on April 1, 2025 and increasing to $2 plus tax in the fifth year of the agreement on April 1, 2027

  • A per-ticket capital refurbishment fund fee on all Lakers tickets in the amount of $1.50 plus tax

  • A per-order charge of $2.50 plus tax on all Lakers ticket orders

  • Recovery by the City of bank charges of 2.75 per cent on tickets purchased by credit card on a per-game basis

  • Recovery by the City from the Lakers on applicable Music Tariff charges

  • The Lakers receiving from the City 50 per cent of the City's share of gross revenues from food and beverage sales at Lakers games

  • The Lakers would be able to sell in-game sponsorship in temporary, non-obstructing locations during Lakers games

  • The City would assist the Lakers with the purchase of a new carpet playing surface by providing an interest-free loan of 50 per cent of the cost, up to a maximum of $150,000, that would be repaid in annual increments over the five-year agreement

The new agreement structure considers the requirement to continue to rebuild ticket sales over the next two years from COVID-19 disruptions by maintaining the per-ticket service charge with no increase until 2025.

The revenues to be received through a fixed-rate rental agreement total roughly $75,700 increasing annually by the rate of inflation sourced from the Statistics Canada Consumer Price Index. Revenue received from the per-ticket fees are estimated to be in excess of $102,000 in the first year and increase to an estimated amount in excess of $142,000 in the third year of the agreement based on an average number of 16 games per season.

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