DEPARTMENT: Convention & Sports Facilities
DEPARTMENT HEAD: Michael J. Sawaya
COUNCIL DISTRICTS IMPACTED: Council District 2
SUBJECT:
Local Contribution related to an Events Trust Fund reimbursable event
SUMMARY:
An Ordinance approving a local contribution in the amount of $115,055.00 to the Events Trust Fund in anticipation of reimbursement of up to $834,144.00 from the Texas State Governor’s Office for the 2016 Shamrock Series Army vs Notre Dame Football Game eligible expenses. This ordinance appropriates $115,055.00 of fund balance from the Convention & Sports Facilities (CSF) State Reimbursement Fund to be used for the local contribution.
BACKGROUND INFORMATION:
The annual Notre Dame Shamrock Series Football Game was established in 2009, with the first game in the series being played at the Alamodome.
The Shamrock Series is Notre Dame's home-away-from-home game series and they have since traveled to New York in 2010, Washington, D.C. in 2011, Chicago in 2012, Arlington in 2013, Indianapolis in 2014, and Boston in 2015.
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 Shamrock Series Army vs Notre Dame Football Game which was held November 12, 2016 with an estimated 53,000 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. 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 $115,055.00 from the CSF State Reimbursement Fund and authorizes the local contribution matching funds of $115,055.00 to the Events Trust Fund to qualify for reimbursement of eligible expenses for the 2016 Shamrock Series Army vs Notre Dame Football Game in an amount up to $834,144.00. Funds in the amount of $115,055.00 are available within the CSF State Reimbursement Fund. 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 $115,055.00 to the Events Trust Fund to qualify for reimbursement of eligible expenses in an amount up to $834,144.00 related to the 2016 Shamrock Series Army vs Notre Dame Football Game.