DEPARTMENT: Finance
DEPARTMENT HEAD: Troy Elliott
COUNCIL DISTRICTS IMPACTED: Citywide
SUBJECT:
Purchase of Video Display System for the Alamodome related to an Events Trust Fund reimbursable event and appropriating of funds from the Hotel Occupancy Tax Redemption & Capital Reserve Fund
SUMMARY:
An ordinance authorizing acceptance of a contract with D&L Communication Systems, Inc. to provide all labor, material and equipment to install a Video Display System consisting of four LED Displays in a center hung configuration at the Alamodome for a total cost of $1,299,240.00. Funds in the amount of $279,965.00 are available from the FY 2019 Community and Visitor Facilities Fund and will be combined with the $1,019,275.00 appropriated from the Hotel Occupancy Tax Redemption & Capital Reserve Fund to fund the total cost of $1,299,240.00 This action amends the FY 2019 - FY 2024 Capital Improvement Program.
Upon completion of hosting the Concert for Peace in December 2019, the Convention & Sports Facilities Department will submit for reimbursement of the Video Display System to the Office of the Governor in accordance with the Events Trust Fund program. Reimbursement funds received will be deposited back into the Hotel Occupancy Tax Redemption & Capital Reserve Fund.
BACKGROUND INFORMATION:
The Events Trust Fund Program created through statute, 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 have taken place outside of the state. The Event Trust Funds may be utilized to pay for eligible expenses such as preparing for an event, conducting an event to include equipment, or pay towards principal and interest used to build or improve facilities to host the proposed event.
The Events Trust Fund applies local and state gains from sales and use, auto rent...
Click here for full text