Kiwanis hands over operations of struggling Casa Loma
Posted May 17, 2011 8:31 am.
This article is more than 5 years old.
Amid falling attendance and increasing capital costs, the Kiwanis Club has negotiated a deal to hand over operations of Casa Loma to the city.
If council approves the takeover agreement in June, the charity would get $1.45 million for artefacts and trademarks like the Casa Loma name, though the city owns the century-old property.
Talks began in December – about three years into a hard-won, 20-year contract – with annual attendance down five per cent per year since the recession.
The Kiwanis Club of Casa Loma also said it could not afford the large-scale renovations needed and, after 75 years, its board members were ready to move on.
The city plans to run the facility until next year when a third party can take over.
The deal will be presented next week to the city’s executive committee.
