A city review of CentreVenture recommends reaffirming its mandate.

The arm's length development agency was probed after Mayor Brian Bowman expressed concern in February about the deal it made for True North Square — while the Carlton Street land in question was already subject to a hotel plan.

A working group of 40 stakeholders were consulted over the last several months, including CentreVenture's board of directors, business groups, residents, developers, planners, agencies, city councillors and city administration.

"I want to thank Coun. John Orlikow as well as fellow working group members for all the time and effort invested in this review," said Mayor Brian Bowman in a release. "The motion coming forward reaffirms CentreVenture's mandate, and recognizes that CentreVenture is a key agency in facilitating downtown development and growth."

The city report, headed to EPC this week, does recommend that oversight, accountability and reporting mechanisms be strengthened. It calls for a regular reporting schedule to council and for the agency to make the business case for proposals.

Other city agencies should get that same oversight, the report says.

Also coming forward for executive policy committee review is a report that recommends establishing long-term funding support to CentreVenture.

"We are extremely pleased with this reaffirmation of our corporation's mandate, and are excited about moving forward on new plans and ideas for downtown Winnipeg," said Angela Mathieson, president and chief executive officer of CentreVenture. "I want to thank mayor Bowman for his leadership and city staff for their collaboration over the last year."