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File #: 18-0129 CRA    Version: 1 Name:
Type: CRA Funding Assistance Status: Agenda Ready
File created: 9/5/2018 In control: Community Redevelopment Agency
On agenda: 9/11/2018 Final action:
Title: APPROVE THE FY 2018-19 FUNDING AGREEMENT WITH GREATER DELRAY BEACH CHAMBER OF COMMERCE TO PRODUCE THE CITY OF DELRAY BEACH HOMETOWN EVENTS
Attachments: 1. Agenda Cover Report, 2. Exhibit A - Draft Funding Agreement Hometown Events, 3. Exhibit B - Chamber revised request, 4. Exhibit C Chamber funding request Aug 21 and 26
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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TO: CRA Board of Commissioners
FROM: Jeff Costello, CRA Executive Director
DATE: September 11, 2018

Title
APPROVE THE FY 2018-19 FUNDING AGREEMENT WITH GREATER DELRAY BEACH CHAMBER OF COMMERCE TO PRODUCE THE CITY OF DELRAY BEACH HOMETOWN EVENTS

Body
Recommended Action:
Recommendation

Authorize the Board Chair to execute a funding agreement for FY 2018-19 with Greater Delray Beach Chamber of Commerce to produce the City of Delray Beach Hometown Events.

Body
Background:

On August 21, 2018, Greater Delray Beach Chamber of Commerce (“Chamber”) submitted a letter regarding the dissolution of the Delray Beach Marketing Cooperative (“DBMC”) and requesting funding in the amount of $125,000 to produce the City of Delray Beach Hometown Events (Famous 100 Foot Christmas Tree Lighting, New Year’s Eve, July 4th). Historically, the DBMC produced the referenced events, however, the DBMC is considering dissolving and merging their staff with the Chamber. Thus, the Chamber would be responsible for producing the events for FY 2018-19 based on the funding request. Thereafter, on August 26, 2018, the Chamber submitted a follow up letter to further explain their funding request to the CRA and the City.

At the August 27, 2018 CRA Board Budget Workshop, the CRA Board discussed the contents of the above referenced letters and agreed to funding in the amount of $125,000 for the Chamber to produce the Hometown Events in FY 2018-19. In the agreement, payments to the Chamber are disbursed as follows:

· $75,000.00 on January 31, 2019,
· $25,000.00 on April 30, 2019, and
· $25,000.00 on July 31, 2019.

Attached is the funding agreement for approval (Exhibit A).

Attachment(s): Exhibit A - FY 2018-2019 - Chamber Funding Agreement for Hometown Events; Exhibit B - Request Letters; Exhibit C - Financials.

CRA Attorney Review:
The CRA Attorney has reviewed the Funding Agreement to form and determined it to be acceptable.

Finance Review:
N/A

Funding Source/Financial Im...

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