Subject:
Title
Tourism Promotion Agreement with St. Pete Pride, Inc. for a Fiscal Year 2022 Elite Event.
label
Recommended Action:
Recommended Action
Approval and execution by the County Administrator of the Tourism Promotion Agreement with St. Pete Pride, Inc. (Pride) for a Fiscal Year 2022 Elite Event.
• Agreement with the Pride for $75,000.00 supports PrideFest, which is scheduled to be held throughout the month of June 2022.
• Funding is paid on a post event basis and is allocated between marketing and advertising expenditures and sponsorship benefits, which are outlined in Exhibits A and B.
• The Convention and Visitors Bureau’s research firm provides a consistent analysis of Elite Events to validate the County’s return on investment.
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
Summary:
The Tourism Promotion Agreement is for PrideFest 2022. This festival consists of four themed weeks throughout the month of June that will celebrate the LGBTQIA+ community while showcasing the St. Pete area.
Background/Explanation:
On July 13, 2021, the Board of County Commissioners (Board) approved the recommendations of the Tourist Development Council to fund 18, FY22 Elite Events for a maximum (or “up to”) total funding level of $1M and to allow staff to negotiate the terms and final funding amount of each agreement for increased tourism promotional benefits. This was later amended on October 12, 2021, when the Board approved moving BikeFest to category 2 and increased the maximum funding to $1,050,000.00. In order to receive Elite Event funding, these high-profile events must meet minimum criteria for room night generation, and/or attendance, as well as media and/or marketing exposure for the County.
This will be the fifth year Pride has received funding through the Elite Event Program. According to Destination Analysts, Inc. (DA), the CVB’s research firm, the economic impact from the 2019 PrideFest was $67.2 million. DA provides a consistent and comparative research analysis on the impact of all Elite Events and reports visitor volume, room nights, economic impact, and which event yielded the highest return on investment.
In accordance with the Elite Event Funding Program Guidelines, funding for this event has been allocated between marketing and advertising expenditures and sponsorship benefits, which are detailed in Exhibits A and B of the agreement. Funding for this event will be paid on a post event basis upon receipt of a written report and supporting documentation.
Fiscal Impact:
Total Expenditure: $75,000.00
Funding to support Elite Events is provided through the CVB’s Annual Operating Budget. The source of funding is the Tourist Development Tax Fund.
Delegated Authority:
Authority for the County Administrator to sign this Tourism Promotion Agreement is granted under Code Section 2-62 (a)(1).
Staff Member Responsible:
Steve Hayes, Director, Convention and Visitors Bureau
Partners:
Tourist Development Council
Attachments:
Tourism Promotion Agreement