SUBJECT/RECOMMENDATION:
Title
Approve increasing Contract, PO 18000553, to Ruth Eckerd Hall, Inc. (REH) by $237,510, from $419,400 to $656,910, to reimburse REH for entertainment expenses for the ZZ Top and John Fogerty concert held in Coachman Park on June 2, 2018 and authorize the appropriate officials to execute same.
Body
SUMMARY:
On May 17, 2018, the Council approved the City partnering with REH and AEG in bringing the ZZ Top and John Fogerty tour to Coachman Park and in paying the City’s share for a performance guarantee of $100,000.
REH and AEG matching funds and expenses were to come from the ticket receipts which the City collected. REH is now invoicing the City for their portion of expenses as well as AEG matching funds for a total of $237,510.
The concert generated a total of $393,000 in ticket sales which will more than cover the increase to the purchase order to REH. Funds are now in the Special Events Code 181-99865.
PO#18000553 to REH is the annual funding agreement between the City and REH ($400,000 per year), as well as payment for the operation of the Clearwater Community Chorus ($19,400).
APPROPRIATION CODE AND AMOUNT:
Funds are available in cost code 181-99865, Special Events, to fund this contract.
USE OF RESERVE FUNDS: N/A