Subject:
Title
Tourism Promotion Agreements with Keep Saint Petersburg Local Corporation and Copperhead Charities, Inc. for two Fiscal Year 2021 Elite Events.
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Recommended Action:
Recommended Action
Approval and execution by the County of Administrator of the Tourism Promotion Agreements with Keep Saint Petersburg Local Corporation (KSPL) and Copperhead Charities, Inc. (Copperhead) for two Fiscal Year (FY) 2021 Elite Events.
• Agreement with KSPL for $25,000.00 supports Localtopia scheduled for February 20, 2021.
• Agreement with Copperhead for $125,000.00 supports the 2021 Valspar PGA Championship scheduled for April 26 - May 2, 2021.
• Funding 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 will provide 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 Agreements are for Localtopia, a celebration of all things local and the 2021 Valspar PGA Championship. These events are scheduled to be held on February 20, 2021 and April 26-May 2, 2021, respectively.
Background/Explanation:
On September 10, 2020, the Board of County Commissioners approved the recommendations of the Tourist Development Council (TDC) to fund FY21 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. In order to receive 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.
The CVB’s research firm, Destination Analysts, Inc., provides a consistent and comparative research analysis on the impact of Elite Events to the County. Research findings from this study conveys important data including visitor volume, room nights, economic impact, and which Elite Event yielded the highest return on investment. During the pandemic, many events have been cancelled or restructured due to safety protocols. If an event has been restructured, the CVB will determine the feasibility of collecting research data for ROI analysis on a case-by-case basis.
In accordance with the Elite Event Funding Program Guidelines, funding has been allocated between marketing and advertising expenditures and sponsorship benefits, which are detailed in Exhibits A and B.
Fiscal Impact:
$ 25,000.00 Localtopia
$125,000.00 2021 Valspar PGA Championship
$150,000.00 Total Expenditure
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 the Tourism Promotion Agreements 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 Agreements
Localtopia
2021 Valspar PGA Championship