Mayor Bowman calls on CentreVenture to update on governance and development processes

Released: January 8, 2015 at 1:29 p.m.
Goal to ensure all land transactions on City's behalf align with real estate audit recommendations

Winnipeg, MB - Mayor Brian Bowman today announced that he has requested that CentreVenture (CV), the City's arms-length downtown development agency, present a status update of the agency's mandate, governance and development processes to Executive Policy Committee (EPC).

As the City reaffirms its commitment to implement the 19 recommendations resulting from the Real Estate Management Review, the goal of the request for CV to provide a formal update is to ensure all processes for conducting land and real estate transactions on behalf of the City are aligned and following the same improved processes. Under the Asset Agreement with The City of Winnipeg, CV also markets surplus city-owned properties for sale and redevelopment.

“It's critical that all policies and procedures governing City land transactions align with recommendations flowing from the audits," said Mayor Bowman. “CentreVenture plays an important role revitalizing and developing our downtown and Winnipeggers need to be assured that the work we do through our arms-length agency is also reliable and up-to-date with the improvements we are currently undertaking.”

Bowman said supporting the growth and economic success of downtown continues as a significant priority of City Council.

"With a new CEO at the helm, now is the perfect time to review how CentreVenture does business on the City’s behalf as part of our overall real estate activities and in particular within our downtown,” Bowman said.

CentreVenture Development Corporation, an arms-length agency of the City of Winnipeg, was created in 1999 by City Council to spearhead the revitalization of downtown Winnipeg.

Its mandate is to promote private-public cooperation and innovative partnerships, encourage new retail, entertainment, housing and commercial ventures, along with public sector investment in public spaces, amenities and services.

CV puts particular emphasis on the rejuvenation of the City's heritage buildings, development of vacant or under utilized downtown property, and on identifying development opportunities linked to area mega projects such as Red River College's downtown campus and Manitoba Hydro's new head office.

EPC will consider the presentation by CentreVenture within 30 days.

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