DEPARTMENT: Convention & Sports Facilities
DEPARTMENT HEAD: Michael J. Sawaya
COUNCIL DISTRICTS IMPACTED: Council District 2
SUBJECT:
Alamo Bowl Agreements
SUMMARY:
This item approves a local contribution in the amount of $76,970.00 to the Events Trust Fund in anticipation of reimbursement of up to $558,031.00 from the Texas State Comptroller Office for 2013 Valero Alamo Bowl expenses and appropriates funds in the amount of $76,970.00 from the Alamodome Renewal & Improvement Fund balance. This item also authorizes the execution of a Reimbursement Agreement with the San Antonio Bowl Association (SABA) for reimbursement of expenses totaling $300,000, plus 25% of any amount received in excess of $456,000.00 for producing the 2013 Valero Alamo Bowl.
BACKGROUND INFORMATION:
The annual Alamo Bowl was established in 1993 with the opening of the Alamodome, and celebrated its 20th anniversary in 2012.
The Valero Alamo Bowl matches the number two team in the Big 12 Conference with the number one team in the Pac-12 Conference, after the Bowl Championship Series (BCS) teams are selected.
The Valero Alamo Bowl is one of the most popular bowls in the country, producing some of the highest rated bowl games in ESPN history. The Valero Alamo Bowl has drawn over one million spectators collectively since its beginning and has generated in excess of $250M in direct economic impact locally.
Local Contribution
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.
Based on the economic impact of this event, following are the State reimbursement and required City match amounts:
State
City
Total
$481,061
$76,970
$558,031
CSF will submit qualified expenses to...
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