Agenda

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Item # 11.

Work Session and Regular Meeting

Meeting Date:	11/13/2018
Department:	Special Events

AGENDA CAPTION:

Consider Action to Approve a Resolution for an Events Sponsorship Agreement with DCO Reality, Inc., (UDR) for the Purposes of Sponsoring Events at Vitruvian Park to Include, but not limited to, Vitruvian Nights Live, Vitruvian Salsa Nights and the Vitruvian Holiday Lights Display and Authorize the City Manager to Execute the Agreement in an Amount not to Exceed $185,000.

BACKGROUND:

The Town of Addison and DCO Reality, Inc., (UDR) the developer/manager of Vitruvian Park entered into an event sponsorship reimbursement agreement in 2012 that is presented to Council for renewal annually. UDR 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 UDR, for sponsorship reimbursement purposes in the amount of $185,000.

These funds are used as referenced below:

Vitruvian Christmas Lights Display
Vitruvian Nights Live
Vitruvian Salsa Nights
Additional events as money is available

From 2012 to 2014, the contracting of the vendor to install, maintain and remove the holiday lights component of the events was hired directly by UDR and paid for from the Towns sponsorship funds. In 2014, the City Attorney recommended that the Town bid out and hire the lighting contractor for the holiday display directly. As of 2015, Town staff manages the bidding and procurement of the contractor to install, maintain and remove the holiday lights each season and funds it directly from the sponsorship funds before any remaining funds are allocated to UDR.

Other events that are funded from the sponsorship include, but are not limited to, Vitruvian Nights Live and Vitruvian Salsa Nights. The amount of funds remaining that are available to reimburse UDR for these events may vary from year to year after the Town has paid for the holiday lighting display. This agreement will cover the 2019 event season.

The amount for this agreement is budgeted out of the Hotel Fund and is included in the Fiscal Year (FY) 2019 budget.

RECOMMENDATION:

Administration recommends approval.

Attachments
Resolution - Events Agreement