Subject:
Title
Tourism Promotion Agreements with Enchant Christmas LLC and Advantage Village Academy, Inc. 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 Enchant Christmas LLC and Advantage Village Academy, Inc. (AVA) for two Fiscal Year 2024 (FY24) Elite Events.
• Agreement with Enchant Christmas LLC for $75,000.00 supports the Enchant Christmas St. Petersburg (Enchant).
• Agreement with AVA for $75,000.00 supports the 2024 M.L.K. Dream Big Parade (Parade).
• Funding for Enchant is allocated between sponsorship benefits and marketing and advertising expenditures and is paid post event:
o $25,000.00 for sponsorship benefits
o Up to the sum of $50,000.00 for marketing and advertising expenditures.
• Funding for the Parade is allocated solely to sponsorship benefits and is paid pre-event.
• 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.
• As determined, the Convention and Visitors Bureau (CVB) will provide either a return-on-investment (ROI) analysis or a visitor profile report for FY24 Elite Events.
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 Enchant and the Parade which are scheduled to be held in St. Petersburg on November 24, 2023 - January 1, 2024, and January 12-15, 2024, respectively. Elite Events are required to submit a written report and other supporting documentation within 45 days of the event. Funding is typically paid on a post event basis with the exception of the Parade, which is paid pre-event.
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 second year Enchant has received Elite Event Program funding. According to the CVB’s research firm, Destination Analysts, Inc. (DA), the ROI analysis from the FY22 event resulted in a direct economic impact of $19,204,621.00 to the County. In FY24 DA will provide a visitor profile report for Enchant which will provide insight for future event marketing. All DA reports are shared with event organizers.
The County has supported the M.L.K. Dream Big Parade through the Elite Program since FY20. According to DA’s ROI analysis, the FY23 event resulted in a direct economic impact of $4,224,799.00. In FY24, DA will also provide a visitor profile report for this event.
Funding for Enchant is allocated between sponsorship benefits and marketing and advertising expenditures. Funding for the Parade is allocated solely to sponsorship benefits. Details are listed in the agreement exhibit(s). Elite Event funding is typically paid on a post event basis with the exception of the Parade, which will be paid pre-event. All events are required to submit a written report and other supporting documentation within 45 days of the event.
Fiscal Impact:
$ 75,000.00 Enchant Christmas St. Petersburg
$ 75,000.00 2024 M.L.K. Dream Big Parade
$150,000.00 Total
Funding to support the Tourism Promotion Agreements in the total amount of $150,000.00 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:
Enchant Christmas St. Petersburg
2024 M.L.K. Dream Big Parade