Subject:
Title
Tourism Promotion Agreements with Outlyr, LLC and EndorFun Sports, LLC for two Fiscal Year 2024 Elite Events.
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Recommended Action:
Recommended Action
Approval and execution by the County Administrator of the Tourism Promotion Agreements with Outlyr, LLC and EndorFun Sports, LLC (EndorFun) for two Fiscal Year 2024 (FY24) Elite Events.
• Agreement with Outlyr, LLC for $150,000.00 supports The ANNIKA Driven by Gainbridge at Pelican (LPGA Event).
• Agreement with EndorFun for $75,000.00 supports the St. Pete Run Fest.
• Funding is allocated between sponsorship benefits and marketing and advertising expenditures:
o LPGA Event
§ $100,000.00 for sponsorship benefits.
§ Up to the sum of $50,000.00 for marketing/advertising.
o St. Pete Run Fest
§ $50,000.00 for sponsorship benefits.
§ Up to the sum of $25,000.00 for marketing/advertising.
• FY24 Elite Event Funding was recommended by the Tourist Development Council on July 19, 2023, and approved by the Board of County Commissioners (Board) on August 15, 2023.
• The Convention and Visitors Bureau’s (CVB) research firm will provide a return-on-investment (ROI) analysis for both events.
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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 Agreements are for the LPGA Event and the St. Pete Run Fest which are scheduled to be held on November 6-12, 2023, and November 10-12, 2023, respectively. Funding is paid on a post event basis upon receipt of a written report and other supporting documentation.
Background/Explanation:
On August 15, 2023, the Board approved 35 events for the FY24 Elite Event Funding Program for a maximum (or “up to”) total funding amount of $2,120,000.00.
This will be the fourth year the LPGA Event has received Elite Event Program funding. According to the CVB’s research firm, Destination Analysts, Inc. (DA), the ROI analysis from the FY23 event resulted in a direct economic impact of $14,123,077.00 to the County. In FY24 DA will provide another ROI analysis for comparison. All DA reports are shared with event organizers.
This will be the second year the County has supported the St. Pete Run Fest through the Elite Program. In FY23, DA provided a visitor profile report. This year, DA will provide an ROI analysis.
Funding for Elite Events is allocated between sponsorship benefits and marketing and advertising expenditures, which are detailed in Exhibit A and B of each agreement. Funding is paid on a post event basis upon receipt of a written report and other supporting documentation.
Fiscal Impact:
$150,000.00 The ANNIKA Driven by Gainbridge at Pelican
$ 75,000.00 St. Pete Run Fest
$225,000.00 Total
Funding to support the Tourism Promotion Agreements in the total amount of $225,000.00 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 the Tourism Promotion Agreements 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 Agreements:
The ANNIKA by Gainbridge at Pelican
St. Pete Run Fest