AGENDA CAPTION:
Title
Receive a Staff update and hold discussion regarding an agreement in the amount of $292,000.00 to sponsor an event at the San Marcos Regional Airport; and consider the creation of a Council Subcommittee, and provide direction to Staff.
Body
Meeting date: March 15, 2016
Department: City Manager's Office, Steve Parker, Assistant City Manager
Funds Required: $292,000
Account Number: 110-35100
Funds Available: $600,000
Account Name: Hotel Motel Reserve Funds
CITY COUNCIL GOAL: Sound Finances
COMPREHENSIVE PLAN ELEMENT(s): N/A
BACKGROUND: At the March 1, 2016 meeting, the City Council heard a presentation requesting that the City sponsor a combination airshow, car show, music festival and extreme sports exhibition. Direction from that meeting was to bring back an agreement that would call for the City to contribute $292,000 to the event. After the completion of the event, the promoter would be required to reimburse up to $192,000 from the event ticket sales back to the City. The promoter has requested this be based on the level of ticket sales. $0 if less than 10,800 tickets sold; (ii) $41,175 if 15,025 tickets are sold; (iii) $88,425 if 20,025 tickets are sold; (iv) $135,675 if 25,025 tickets are sold; (v) $192,000 if more than 30,940 tickets are sold to the Event.
The promoter has agreed to allow for local food trucks/vendors and will also allow for a concession that will provide a discount to flood victims.
City staff wanted City Council to be aware that if the promoter doesn't raise enough in additional sponsorships, the Tony Hawk exhibition would be the probable thing to be cut from the event. They have also provided examples to City staff showing examples of how the event changes with different funding levels. We would like to also have time to go over those examples with the City Manager over the next week.
City staff does not have an agreement for adoption ready at this time. City staff as well as Texas Aviation Part...
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