Subject:
Title
First Amendment to the Tourism Promotion Agreement with Copperhead Charities, Inc. for the Valspar PGA Championship, a Fiscal Year 2020 Elite Event.
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Recommended Action:
Recommended Action
Approval and execution by the County Administrator of the First Amendment to the Tourism Promotion Agreement with Copperhead Charities, Inc. (Copperhead) for the Valspar PGA Championship, a Fiscal Year 2020 Elite Event.
• First Amendment with Copperhead is for payment of $30,200.00 in tourism promotional benefits expended and received prior to event cancellation.
• PGA cancelled Valspar Championship three days before the scheduled opening date due to the pandemic.
• Original Elite Event Tourism Promotion Agreement with Copperhead was for $125,000.00.
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Strategic Plan:
Foster Continual Economic Growth and Vitality
4.6 Support a vibrant community with recreation, arts, and culture to attract residents and visitors
Summary:
The First Amendment will allow the Convention and Visitors Bureau to pay Copperhead for the portion of the tourism promotional benefits that were expended and received prior to the event being cancelled by the PGA three days before the opening due to the pandemic. Per Section 2C of the Tourism Promotion Agreement with Copperhead, the County cannot pay in these circumstances unless agreed to in writing.
Background/Explanation:
On August 20, 2019, the Board of County Commissioners (Board) approved the recommendations of the Tourist Development Council to fund sixteen Elite Events, including the Valspar Championship. Further, on January 28, 2020, the Board approved the Tourism Promotion Agreement with Copperhead for $125,000.00.
Three days prior to the opening of the Valspar Championship, the PGA cancelled the event. At that time Copperhead had already expended funds towards the tourism promotion program. Exhibit A of the Amendment reflects the reduced benefits received as a result of the event cancellation.
Fiscal Impact:
$30,200.00 Reduced Funding Amount
Funding to support the First Amendment is provided through the Convention and Visitors Bureau’s Annual Operating Budget. The source of funding is the Tourist Development Tax Fund.
Delegated Authority:
Authority for the County Administrator to sign this First Amendment is granted under Code Section 2-62 (a)(1).
Staff Member Responsible:
Steve Hayes, Director, Convention and Visitors Bureau
Partners:
Tourist Development Council
Attachments:
First Amendment