Agenda

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Item # 11.

Council Meeting

Meeting Date:	08/23/2022
Department:	Special Events
Pillars:	Optimize the Addison Brand
Milestones:	Continue development and implementation of the Long-Term Financial Plan

AGENDA CAPTION:

Consider Action on a Resolution Approving an Events Agreement Between the Town of Addison and DCO Realty, Inc. for the Management, Operation, Coordination, and Control of a Variety of Events at Vitruvian Park, and Authorizing the City Manager to Execute the Agreement in an Amount Not to Exceed $185,000.

BACKGROUND:

The Town of Addison and DCO Realty, Inc., the developer/manager of Vitruvian Park, entered into an event sponsorship reimbursement agreement in 2012 that is presented to Council for renewal annually. DCO Realty, Inc. desires to conduct and present a variety of public events within the Vitruvian Park area. The Town desires to participate in the public events and activities as a sponsor and as such, entered into this agreement with DCO Realty, Inc. for sponsorship reimbursement purposes in an amount not to exceed $185,000.

These funds are used as referenced below:

Vitruvian Lights Holiday Display
Vitruvian Nights Live
Vitruvian Salsa Festival
Additional events as funds are available

This agreement will cover events in Fiscal Year 2023. The funds are included in the proposed Fiscal Year 2023 budget within the Hotel Fund.

RECOMMENDATION:

Administration recommends approval.

Attachments
Resolution - Vitruvian Park Events Agreement