| | | | | | | | | City of Independence | | AGENDA ITEM COVER SHEET |
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| | | | | | | | | BILL NO. 23-794 | Res.No: 6970 |
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| | | | | | | | Agenda Title:
23-794 A resolution memorializing the amendment of the Public Service Agreement between the City of Independence and the Independence Square Association-Neighborhood Tourism Development Program. (Sponsored by Councilmember Perkins) |
| | | | | | | | Recommendations:
Staff recommends approval of the agreement. |
| | | | | | | | Executive Summary:
If approved, this item would direct the City Manager to execute an agreement with the Independence Square Association (ISA) for a pilot project, to track data measuring the economic impact of the events administered by the ISA with these funds, and to make a final report and recommendations to the City Council regarding the potential future expansion of the program. Higher than expected revenues combined with lower than anticipated expenditures have resulted in a projected increase in fund balance for the Tourism Fund. Management recommends using Tourism Fund Balance to initially support this pilot program. |
| | | | | | | | Background:
The City Council had previously granted approval to a Public Service Agreement with the Independence Square Association (Main Street), allocating financial support of $25,000. Staff is requesting an amendment to this agreement to boost the financial support to $100,000 for the period spanning from July 1, 2023, to June 30, 2024. The initial $25,000 allocation was officially approved on August 21, 2023. This amendment request is aimed at augmenting Independence Square Association-Neighborhood Tourism Development Program financial resources to further bolster community programs. |
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Fiscal Impact:
Increasing this agreement to $100,000 from the City's Tourism Fund -Transient Guest Tax Fund (004) unreserved fund balance, page 64 in the Adopted Fiscal Year 2023/24 Budget.
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| | | | | | | | | Department: City Manager's Office | Contact Person: Zach Walker |
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| REVIEWERS: | | Department | Action | | City Managers Office | Approved | | City Clerk Department | Approved | | Finance Department | Approved | | City Managers Office | Approved | | City Clerk Department | Approved |
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| Council Action: | Council Action: |
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