Agenda Item Name:
Title
Request Approval of Fifth Amendment for Administration and Seventh Amendment for Bid Pool with the Gainesville Sports Commission
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Presenter:
Jessica Hurov
Description:
Request Approval of Fifth Amendment for Administration and Seventh Amendment for Bid Pool with the Gainesville Sports Commission
Recommended Action:
Recommended Action
Approve the Fifth Amendment for Administration and Seventh Amendment for Bid Pool with the Gainesville Sports Commission and authorize the Chair and Clerk to sign
Approve carry forward amount of $58,000 for unspent bid pool and $139,000 for unspent administration funds due to COVID-19 canceled/postponed events
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Prior Board Motions:
Bid Pool
Sept. 26, 2017 - executed the Sixth Amendment to the Agreement
Feb. 10, 2015 - executed the Fifth Amendment to the Agreement
Sept 24, 2013 - executed the Fourth Amendment to the Agreement
Sept, 28, 2010 - executed the Third Amendment to the Agreement
Oct. 28, 2008 - executed the Second Amendment to the Agreement
Jan. 8, 2008 - executed the First Amendment to the Agreement
Oct. 10, 2006 - executed the Amended and Restated Agreement
Administration
Sept. 26, 2017 - executed the Fourth Amendment to the Agreement
Sept. 23, 2014 - executed the Third Amendment to the Agreement
Sept 24, 2013 - executed the Second Amendment to the Agreement
Oct. 28, 2008 - executed the First Amendment to the Agreement
Oct. 10, 2006 - executed the Amended and Restated Agreement
Fiscal Consideration:
Fiscal Consideration
Bid Pool: Remains $210,000 per year, but not able to carry forward unspent balances.
Administration: 22% of 99% of 2-pennies from the prior fiscal year's revenues (estimated at approximately $357,000 for FY21), able to carry forward unspent balances.
Both parts are funded through a transfer from the Visitor's Center funding (Fund 150) to Fund 004, specifically for the GSC.
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Background:
The Board has had a long-standing partnership with the G...
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