Subject:
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Tourism Promotion Agreement with Advantage Village Academy, Inc. for a Fiscal Year 2025 Elite Event.
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Recommended Action:
Recommended Action
Approval and execution by the County Administrator of the Tourism Promotion Agreement with Advantage Village Academy, Inc. (Advantage Village) for a Fiscal Year (FY) 2025 Elite Event.
• Agreement with Advantage Village for $75,000.00 supports the 2025 MLK Dream Big Parade (Parade).
• Funding for the Parade is allocated solely to sponsorship benefits and is paid pre-event.
• FY25 Elite Event funding was recommended by the Tourist Development Council on July 17, 2024, and approved by the Board of County Commissioners on August 13, 2024.
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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 Tourism Promotion Agreement is for the 2025 MLK Dream Big Parade scheduled to be held January 17-20, 2025, in St. Petersburg. Funding for the Parade will be paid pre-event. A post event report and supporting documentation is due within 45 days of the event completion.
Background/Explanation:
On August 13, 2024, the Board approved 39 events for the FY25 Elite Event Funding Program for a maximum (or “up to”) total funding amount of $2,000,000.00.
The County has supported the Parade through the Elite Event Program since FY20. According to the CVB’s research firm, Destination Analysts, Inc., the ROI analysis from the FY23 event resulted in a direct economic impact of $4,224,799.00 to the County.
Funding for the Parade will be paid pre-event. In exchange for the monetary support, the County will receive sponsorship benefits which are detailed in Exhibit A of the agreement. Elite Events are required to submit a written report and supporting documentation within 45 days of event completion.
Fiscal Impact:
$75,000.00 2025 MLK Dream Big Parade
Funding to support this Tourism Promotion Agreement in the amount of $75,000.00 is included in 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:
Brian Lowack, Director, Convention and Visitors Bureau
Partners:
Tourist Development Council
Attachments:
Tourism Promotion Agreement