Title
Resolution Authorizing Execution of a Multi-Year Contract with the Tournament Hosts of Greensboro, Inc. for Services Provided for the Greensboro Coliseum Complex
Body
Department: Coliseum
Council District: 1
Public Hearing: N/A
Advertising Date/By: N/A
Contact 1 and Phone: Matthew Brown 373-7406
Contact 2 and Phone: Colleen Vann 373-7465
PURPOSE:
City Council is requested to approve the new contract between the City of Greensboro and the Tournament Hosts of Greensboro, Inc. (THOG). The initial term is for five years with an option to renew for two one year terms. Due to the new parameters of service contracts that have an impact of over $100,000.00 to an operating budget, we need council's approval. Any expense incurred to the operating budget of the Coliseum is offset by ancillary revenues (e.g. concessions, parking and sponsorships).
BACKGROUND:
THOG was originally created to support the City of Greensboro's bid for the Greensboro Coliseum Complex's ACC Men's Basketball Tournament to help fulfill Tournament hosting responsibilities and volunteer services. Since then, THOG's responsibilities have expanded to include multiple national championship events held throughout the City of Greensboro. (See attachment - THOG Presentation)
The City of Greensboro first started contracting with the Tournament Hosts of Greensboro, Inc. in December, 1993. The purposes for which the corporation provided assistance are: to provide general support of athletic events for the benefit and enhancement of the community; to coordinate and promote services to be provided in conjunction with such events. Payments to the Tournament Hosts of Greensboro, Inc. are derived from the ACC Women's Basketball Tournament contract, budgeted for eighty thousand dollars ($80,000) each year of the contract and any additional funds needed will be offset by ancillary revenues such as concessions, parking, etc. (See attachment - THOG Contract)
BUDGET IMPAC...
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