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Commissioner Cloninger - Tourism Development - To Approve the Appropriation of $250,000 from Tourism Development Fund Balance to Gaston Aquatics for Sponsorship of Gaston Aquatics Project
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STAFF CONTACT
Michael Applegate - Tourism Development - 704-813-0144
BUDGET IMPACT
budget
Tourism Fund: Increase fund balance appropriation by $250,000. Increase expenditures by $250,000. No additional County funds.
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BACKGROUND
Gaston County Tourism Development, in coordination with the Tourism Advisory Board, proposes to allocate $250,000 from the Tourism Fund Balance as a sponsorship contribution toward the construction of the Aquatics Center.
As part of this sponsorship, Gaston County would receive exclusive naming rights to the spectator area of the Aquatics Center for a period of 10 years from the facility’s opening date. The agreement would also provide the County with an option to invest an additional $150,000 at any time during the initial 10-year term to secure perpetual naming rights for the spectator area.
In addition, the sponsorship includes opportunities for destination marketing and promotional visibility through digital display advertising within the Aquatics Center.
This Board Action was originally approved in November 2019 #2019-315.
POLICY IMPACT
N/A
ATTACHMENTS
Budget Change Request (BCR)