Title
Ordinance in the Amount of $190,000 Establishing a Project Budget for Spencer Love Tennis Complex Improvements
Body
Department: Parks and Recreation
Council District: 3
Public Hearing: N/A
Advertising Date/By: N/A
Contact 1 and Phone: Phil Fleischmann, 373-3275
Contact 2 and Phone: Wade Walcutt, 373-2964
PURPOSE:
To accept and disburse funding for Spencer Love Tennis Complex facility improvements, a budget ordinance establishing a project budget is needed in accordance with current City fiscal procedures.
BACKGROUND:
In early 2013, City Council authorized the release of 2008 Parks and Recreation bond funds and directed staff to accelerate the use of funds for Hester Park improvements and the expansion and improvement of Spencer Love Tennis Complex. Through $175,000 in approved bond funds and additional private investment detailed below, Spencer Love Tennis Center will be expanded and improved to meet the growing demand for tennis facilities in Greensboro as well as to increase the City's ability to bring in larger tennis tournaments generating additional economic impact.
In summer 2014, the Parks and Recreation Department received Council approval to enter into a contract with Mike Belangia, dba Triad Tennis Management (TTM), for the provision of tennis services and programming at the City's tennis complexes. As a requirement of the contract, TTM is to contribute a one-time payment of $175,000 to be used for a court expansion project at Spencer Love Tennis Center. In addition, TTM anticipates contributing an additional $15,000 through a provision in the contract which allows TTM to raise and contribute additional private funds for tennis improvements and receive a partial reduction in their annual lease fee. These initial private contributions totaling $190,000 form the basis for this budget ordinance.
Given the contributions detailed above, this budget ordinance establishes an initial estimated project budget of $...
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