DEPARTMENT: Convention & Sports Facilities
DEPARTMENT HEAD: Michael J. Sawaya
COUNCIL DISTRICTS IMPACTED: Council District 1&2
SUBJECT:
Local Contribution related to Major Reimbursable Events
SUMMARY:
An Ordinance approving a local contribution in the amount of $367,937.00 to the Events Trust Fund to qualify for reimbursement of eligible expenses in an amount up to $2,667,539.00 related to the Seventh Day Adventist Church 2015 General Conference Session event held at the Alamodome and Henry B. Gonzalez Convention Center from July 2 - 11, 2015. This ordinance appropriates $255,674.00 from the Convention & Sports Facilities State Reimbursement Fund Reserve (CSF) and $112,263.00 from the Convention Center Expansion Capital Project into the CSF State Reimbursement Fund.
BACKGROUND INFORMATION:
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 the State.
Similar to previous legislation, which pertained only to major sporting events, reimbursable dollars for these convention events are based on anticipated tax gain for a particular event. In order to obtain reimbursement for eligible expenses, municipalities are required to match funds that are deposited in the Event's Trust Fund on a ratio of 1 to 6.25.
ISSUE:
The Convention & Sports Facilities Department will submit qualified expenses related to the Seventh Day Adventist Church 2015 General Conference Session which took place July 2 - 11, 2015 and had an estimated 65,000 attendees. Qualified expenses include, but are not limited to, the installation of a vertical circulator, renovation of Hall C & D restrooms, carpet replacement in the Lonesome Dove Room, and epoxy floor coating, chairs and seating repairs at the Alamo...
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