March 2019 Beban Building Update

At The end of 2017 City staff were "urging" IRMC to engage independent consultants to evaluate the financial viability of our proposed Year Round Market. IRMC engaged Farm Food Drink (FFD) to conduct a study and provide a report. That report indicates that the project is viable and suggests that IRMC develop the project in co-operation with the Vancouver Island Exhibition Society (VIEx). Following the FFD report an effort was made to find common ground with VIEx. That effort ended when VIEx rejected IRMC's attempts (download VIEx letter below) to establish a partnership between the two organizations stating it was interested in being IRMC's landlord but not its partner.

 

IRMC then updated its business plan (link below) and re-initiated discussions with Parks and Recreation Staff.  Progress in that effort is in the report that is available for down load below.


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Addressing Parks and Recreation Concerns
Concerns were addressed at the meeting but here, FYI, are our responses in writing.
Addressing P&R Concerns.pdf
Adobe Acrobat Document 359.3 KB
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Proposed VIEx / IRMC Partnership
Island roots proposed a partnership in the form of a Memorandum of understanding
MOU.pdf
Adobe Acrobat Document 102.9 KB
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VIEx Rejects partnership
VIEx wants tenant but not partner
VIEx Partnership rejection letter.pdf
Adobe Acrobat Document 55.2 KB
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IRMC updates Business Plan
Plan updated to satisfy City staff.
2019 IRMC Business Plan.pdf
Adobe Acrobat Document 926.8 KB
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Report - City Staff meets IRMC
Meeting identifies city staff concerns
REPORT ON MEETING WITH PARKS AND RECREAT
Adobe Acrobat Document 82.3 KB