SUBJECT/RECOMMENDATION:
Title
Approve events budget of $482,000 from general fund reserves for the grand opening of Coachman Park to be held from June 28 through July 4, 2023, and authorize the appropriate officials to execute same. (consent)
Body
SUMMARY:
After seven years of planning and construction, Imagine Clearwater, officially known as Coachman Park will be opened to the public on June 28, 2023.
A week of events are being planned for the grand opening of Coachman Park beginning with a ribbon cutting ceremony and ending with an exciting and patriotic event on the Fourth of July with The Florida Orchestra in concert followed by the largest fireworks display ever produced in Clearwater.
In partnership with Ruth Eckerd Hall there will be a variety of entertainment both ticketed and free throughout the eight-day celebration in the new 4,000 covered seat Performance Venue.
A variety of events and entertainment will be provided to appeal to every segment of our community including children’s activities, celebrating diversity concert and programs, touch-a-truck event, exercise classes, giveaways, running events, buskers, street performers, dance classes, farmers market, car show, concerts, educational exhibits, etc.
Staff is recommending a budget of $482,000 to produce the eight-day event with the largest cost being $100,000 for fireworks, $85,000 for The Florida Orchestra, $70,000 for other entertainment, $32,500 for Jolley Trolley Park and Ride Circulator and $30,000 for Tunnels to Towers Exhibit.
Not included in this budget is the cost for public safety. Costs for public safety are contingent upon the approved itinerary for the Grand Opening. Another agenda item will be forthcoming to address these costs.
APPROPRIATION CODE AND AMOUNT:
A mid-year budget amendment will provide a transfer of $482,000 from General Fund reserves, to establish special program PRSE230001, Special Events @ Coachman Park, to fund these activities.
USE OF RESERVE FUNDS:
Funding for this contract will be provided by a mid-year budget amendment allocating General Fund reserves in the amount of $482,000 to special program PRSE230001, Special Events @ Coachman Park. Inclusive of this item if approved, a net total of $1,102,870 of General Fund reserves has been appropriated by Council to fund expenditures in the 2022/23 operating budget. The remaining balance in General Fund reserves after the 8.5% reserve is approximately $41.8, or 22.8% of the current General Fund operating budget.