Title
Ordinance in the Amount of $997,978 Amending the Coliseum Concession Improvements Fund Budget for the Appropriation of the Donation and Private Contribution
Body
Department: Coliseum
Council District: Citywide
Public Hearing: No
Advertising Date/By: No
Contact 1 and Phone: Colleen Vann, 373-7465
Contact 2 and Phone: Mike Perdue, 373-7457
PURPOSE:
The Greensboro Coliseum has been awarded a $997,978 donation Coliseum Concessions Improvements. To accept this donation and private contribution, a budget ordinance is requested for approval from Greensboro City Council in accordance with current city fiscal procedures.
BACKGROUND:
Due to higher demand of concessions at larger events, adding concession improvements will help increase both food and beverage sales. This project is being funded with third party donation funds from Spectra that contractually can only be used to enhance the Coliseum’s concession stand upgrades.
BUDGET IMPACT:
This requested action will not have an adverse impact on the City of Greensboro’s budget. Without the donation, the Greensboro budget would be responsible for all expenses that this private contribution supplements. The donation will save the city $997,978.
RECOMMENDATION / ACTION REQUESTED:
It is requested and recommended that City Council adopt the attached budget ordinance establishing funding in the amount of $997,978 for this donation and private contribution.