Title
Consider a resolution amending the 2012-2013 Sports Venue Budget.
Body
In May 2011, City Council adopted a resolution designating the proposed Sports Complex as a Venue Project and the method of financing to be used to fund the project. A Special Election was called in November 2011 submitting to voters the proposal for the approval of a Sports and Community Venue Project and for an additional 2% hotel occupancy tax to fund the project. Voters approved the use of additional taxes to reimburse or pay the costs of planning, acquiring, establishing, developing, constructing, renovating, operating, or maintaining the project, or paying the principal and interest on, or other costs relating to bonds or obligations to finance the project. This venue will be utilized to expand the City's "Sports Capital of Texas" tourism program.
The 2012-13 Sports Venue budget was adopted by Council in September of 2012, and included revenues associated with the collection of the 2% Hotel Occupancy Tax, and funding for a Sports Center Manager position. This amendment allocates additional funding related to preparing for the anticipated fall opening of the venue. Included are 3 additional positions - an Operations Coordinator, an Events Coordinator, and an Administrative Assistant. This amendment also includes funding for capital and operational expenditures required in preparation for the facility's opening.
Cost: 0.00
Source of Funds: N/A
Recommended Action
Staff recommends approval.