DEPARTMENT: Convention & Sports Facilities
DEPARTMENT HEAD: Michael J. Sawaya
COUNCIL DISTRICTS IMPACTED: Council District 2
SUBJECT:
Local Contribution related to Major Reimbursable Events
SUMMARY:
An Ordinance approving a local contribution in the amount of $16,638.00 to the Events Trust Fund in anticipation of reimbursement of up to $120,623.00 from the Texas State Comptroller Office for the 2016 U. S. Army All-American Bowl eligible expenses. This ordinance appropriates $16,638.00 of fund balance from the Convention & Sports Facilities (CSF) State Rebate Fund to be used for the local contribution.
BACKGROUND INFORMATION:
The annual U.S. Army All-American Bowl was established in 1985, and celebrated its 10th anniversary at the Alamodome in 2013.
The U.S. Army All-American Bowl is the nation’s premier high school national all-star football game featuring over 90 of the top senior football players from across the country. Attendance at this year’s game day event was 39,121.
The Events Trust Fund legislation (Vernon's Texas Civil Statutes 5190.14) provides municipalities and counties the opportunity to obtain reimbursement for eligible expenses related to hosting and attracting high-visibility, high-tax impact events to the state of Texas that could otherwise take place outside of the state.
ISSUE:
The Convention & Sports Facilities Department will submit qualified expenses related to the 2016 U. S. Army All-American Bowl which took place January 9, 2016 with over 39,000 attendees.
ALTERNATIVES:
If the matching funds are not deposited within the Events Trust Fund, the City loses its opportunity to obtain reimbursement for eligible expenses related to hosting this event. An alternative is to not offer financial support to these events, even though they qualify for rebates under the State's Events Trust Fund. Lack of financial support for sporting or major events jeopardizes the City's ability to remain competitive in hosting these events in the future.
FISCAL IMPACT:
This ordinance authorizes the appropriation of $16,638.00 of fund balance to the CSF State Reimbursement Fund and authorizes the local contribution matching funds of $16,638.00 to the Events Trust Fund to qualify for reimbursement of eligible expenses for the 2016 U.S. Army All-American Bowl in an amount up to $120,623.00. Upon receipt of the reimbursement from the State, those funds will be deposited back into the CSF State Reimbursement Fund.
RECOMMENDATION:
Staff recommends approval of the local contribution in the amount of $16,638.00 to the Events Trust Fund to qualify for reimbursement of eligible expenses in an amount up to $120,623.00 related to the 2016 U. S. Army All-American Bowl.