Agenda

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Item # 4.n.

City Council (FY24)

Meeting Date:	10/24/2023
Department:	Special Events
Pillars:	Optimize the Addison Brand

AGENDA CAPTION:

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 during Fiscal Year (FY) 2024. The Town desires to participate in these events and activities as a sponsor. To facilitate this, the Town will enter into an agreement with DCO Realty, Inc. for sponsorship reimbursement purposes for an amount not to exceed $185,000.

These funds are used for the following projects:

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

These funds are included in the approved FY 2024 budget within the Hotel Fund.

RECOMMENDATION:

Administration recommends approval.

Attachments
Resolution - DCO Realty, Inc.: Vitruvian Park Events