Subject:
Title
First Amendment to Interlocal Agreement with the City of St. Petersburg for sharing in the cost of an economic and social impact analysis of the proposed ballpark plan.
label
Recommended Action:
Recommended Action
Approval and execution by the County Administrator of the First Amendment to Interlocal Agreement with the City of St. Petersburg (City) for sharing in the cost of an economic and social impact analysis of the proposed ballpark plan.
• First Amendment adds the cost for an economic and social impact analysis of the proposed ballpark plan.
• City will equally share in the consulting costs for Victus Advisors LLC (Victus) and will reimburse the County for up to $22,475.00 in expenditures for the analysis.
• First Amendment increases the total amount of reimbursements from the City by $22,475.00 for a new maximum total of $132,475.00.
Body
Strategic Plan:
Foster Continual Economic Growth and Vitality
4.6 Support a vibrant community with recreation, arts, and culture to attract residents and visitors
Deliver First-Class Services to the Public and Our Customers
5.1 Maximize partner relationships and public outreach
Summary:
The First Amendment to the Interlocal Agreement with the City adds the cost for an economic and social impact analysis of the proposed ballpark plan and increases the amount to be reimbursed by the City from $110,000.00 to a total amount of $132,475.00.
Background/Explanation:
The Board of County Commissioners approved the Interlocal Agreement with the City on July 19, 2022. The Interlocal Agreement provides the City an opportunity to participate in negotiations for retention of the Tampa Bay Rays (Rays). In exchange, the City agreed to reimburse the County for 50% of the cost for Inner Circle Sports LLC, the consultant that is facilitating negotiations between the County, City and the Rays.
Subsequently, on September 7, 2022, the County entered into an agreement with Victus Advisors LLC (Contract 23-0068-N) to provide an economic and social impact analysis on the proposed ballpark plan for a total cost of $44,950.00. The analysis is estimated to be completed in seven weeks. The First Amendment to the Interlocal Agreement incorporates the economic and social impact analysis and provides for reimbursement of up to $22,475.00, or 50% of the County’s cost for the analysis. Approval of the First Amendment will increase the amount of allowable reimbursements by the City to $132,475.00.
Fiscal Impact:
$110,000.00 Interlocal Agreement
$22,475.00 First Amendment
$132,475.00 Total Estimated Revenue
Revenue received through this Interlocal Agreement will offset County expenditures associated with Contracts 22-0412-A and 23-0068-N.
Funding to support the Interlocal Agreement and associated contracts 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 to the Interlocal Agreement is granted under Code Section 2-62 (a)(1).
Staff Member Responsible:
Steve Hayes, Director, Convention and Visitors Bureau
Partners:
Tourist Development Council
City of St. Petersburg
Attachments:
First Amendment to Interlocal Agreement