SUBJECT/RECOMMENDATION:
Title
Approve entering into Phase II and a first amendment of the Professional Services Agreement with The Superlative Group, Inc., of Cleveland, OH, for sponsorship sales services for the Imagine Clearwater Project; increase Purchase Order 22000925 from $69,000 to $159,000 for those services and authorize the appropriate officials to execute same.
Body
SUMMARY:
On March 3, 2022, Council approved the issuance of a purchase order to The Superlative Group, Inc., pursuant to RFP 50-21, Asset Inventory, Valuation and Naming Rights Services for Phase I of professional services to identify sponsorship opportunities following completion of the Imagine Clearwater Project.
The Superlative Group (Superlative) has completed Phase I of the project and has identified sponsorship opportunities of assets located at Coachman Park, as well as surrounding amenities comparable to entertainment venues nationwide.
In Phase II of the Professional Services Agreement, Superlative will develop a strategic sales campaign for the sponsorship and naming rights of approved assets for potential sale to national and regional corporate partners located at and within Coachman Park. City staff will be engaged with Superlative’s marketing efforts throughout Phase II, to ensure such activities are targeted in categories which align with both the City’s interests and the venue operator of the amphitheater.
Staff is also recommending a first amendment to the original professional services agreement, which provides for a modified commission structure on sponsor sales and clarification on sponsorship income and assets.
Superlative will be paid a retainer of $7,500.00 per month, as well as receive a 15% commission of total sponsorship income for sale opportunities identified by Superlative, and 7.5% commission for sale opportunities identified by the city, not to exceed three sponsors unless mutually agreed upon by the parties.
Sponsorship income is clarified to include only renewal or extension options that are in fact included within the original Sponsorship Agreements or modification thereof.
Assets defined in the Agreement shall include all mutually agreed upon marketable opportunities associated with the City’s marketable assets including without limitation, Coachman Park.
APPROPRIATION CODE AND AMOUNT:
Funds are available in General Fund Non-Departmental cost code 0107010-530100, Professional Services, to fund the cost of this contract.
USE OF RESERVE FUNDS:
N/A