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Commissioner Jack Brown - Travel & Tourism - To Approve the Appropriation of $250,000 from Travel & Tourism’s Fund Balance and Transfer to the General Fund for the Investment in the Gaston Aquatics Project
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STAFF CONTACT
Michael Applegate - Travel & Tourism - 704-825-4044
BUDGET IMPACT
budget
Transfer funds from T&T Reserve Funds. No additional County funds.
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BUDGET ORDINANCE IMPACT
Appropriate $250,000 into T&T Project Expense Account.
BACKGROUND
At the meeting on October 16, 2019, Travel & Tourism’s Advisory Board unanimously supported producing a letter of interest to invest the amount of $250,000 from tourism’s fund balance for the Gaston Aquatics Center. The investment would include:
• A one-time payment of $250,000 that will give the County naming rights of viewing/spectator area for 10 years
• Destination marketing and promotion visibility through digital display advertising
• The option to invest an additional $150,000 at any time during the 10 years to secure naming rights in perpetuity
The Aquatics Center has scheduled a public announcement about the project for October 25, 2019. Staff anticipates including the investment for consideration on the November 12, 2019 BOC meeting agenda.
POLICY IMPACT
N/A
ATTACHMENTS
Budget Change Request