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HomeMy WebLinkAbout~Master - Supplemental Funding Agreement with Ames Convention and Visitors Bureau RESOLUTION NO. 21-557 RESOLUTION APPROVING SUPPLEMENTAL FUNDING AGREEMENT WITH AMES CONVENTION AND VISITORS BUREAU FOR THE CITY OF AMES,IOWA WHEREAS,the Ames Convention and Visitors Bureau(ACVB)receives a substantial portion of its operating revenue from Hotel/Motel taxes; and, WHEREAS,five-sevenths of the City's Hotel/Motel Tax is transferred to the ACVB for the purpose of investing in events and activities that draw people to Ames; and, WHEREAS,due to the COVID-19 pandemic,hotel revenues in Ames decreased substantially,which has caused a significant decrease in the funding going to ACVB for its operations; and, WHEREAS, at ACVB's request, the City Council included $35,000 in its FY 2020/21 adjusted budget for a one-time supplemental payment to ACVB that would come from the City's Hotel/Motel Tax Fund; and, WHEREAS, an Agreement has been prepared to administer the payment of these funds and upon approval,the City would remit the$35,000 to ACVB,provided that ACVB agrees to use the funds to pursue events and conferences to be hosted in Ames, and for incentives to support groups already committed to holding events in Ames(where ACVB is contractually obligated to provide such incentives); and, WHEREAS, ACVD would submit a report by June 30, 2022, to the City outlining the actual expenditures made with the supplemental funding; and, WHEREAS, the City Council allocated funds in its budget to provide ACVB with a loan in the amount of$75,000,but ACVB has not yet determined whether this loan will be necessary; and, WHEREAS,as ACVB completes its budgeting process in the coming months,the organization will notify the City whether the loan is necessary or if ACVB will forego the loan. NOW, THEREFORE,BE IT RESOLVED by the City Council of the City of Ames,Iowa,that the Supplemental Funding Agreement with Ames Convention and Visitors Bureau in the amount of$35,000 is hereby approved. ADOPTED THIS 9t'day of November,2021. 'U , —/ f" 6� I Dian oss, ity Cler c John . Haila,Mayor Introduced by: Corrieri Seconded by: Betcher Voting aye: Beatty-Hansen,Betcher, Corrieri, Gartin, Junck, Martin Voting nay: None Absent: None Resolution declared adopted and signed by the Mayor this 9"'day of November,2021.