Agenda Item Name:
Title
Sports Event Center Resolution for Amendment of Development and Operations Agreements
End
Presenter:
Tommy Crosby 337-6205, Dave Forziano
Description:
The Developer and Operator have requested amendments to the Development Agreement and the Operations Agreement to allow for the Sports Event Center to Temporarily Operate in January 2023 and February 2023 for track season before final construction is completed.
Recommended Action:
Recommended Action
Adopt the resolution authorizing the County Manager and the County Attorney to prepare the necessary contract amendments to the Development Agreement and the Operations Agreement to accommodate the Operator's request to Temporarily Operate the Sports Center.
End
Prior Board Motions:
July 13, 2021 - Final agreements approved and attached
Fiscal Consideration:
Fiscal Consideration
There is no direct budgetary impact to the County. The gross revenue from the events during the temporary operations will flow into, and operating expenses will be paid out of, the Sports Center Operating Account. Pursuant to the terms of the Operations Agreement, the Operator is required to fund operating budget shortfalls.
End
Strategic Guide:
Strategic Guide
Social and Economic Opportunity
End
Background:
On July 13, 2021, the Board entered into the Development Agreement with Viking Companies, LLC (the Developer) for the design and construction of the Sports Center at Celebration Pointe. On July 23, 2021, the Board also entered into the Operations and Maintenance Agreement for the Sports Center (the "Operations Agreement") with the Developer's subsidiary, CP Event Center Operations, LLC ("Operator").
Pursuant to the Development Agreement, the Developer was to complete construction in late December 2022, prior to the start of track season. Upon completing construction, the project was to transition from the development phase to the operating phase, at which time the terms of the Operating ...
Click here for full text