Title
a. Approve and authorize the Assistant County Administrative Officer to sign a retroactive one-year Event Agreement effective April 19, 2021,with Krave Group, LLC dba MotoAmerica, to sanction and produce the Geico Motorcycle MotoAmerica Superbike SpeedFest at Monterey to be held at WeatherTech Raceway Laguna Seca on July 9-11, 2021 for a base fee of $25,000; and
b. Approve and authorize the Assistant County Administrative Officer to execute up to three (3) future amendments to this Agreement where the total amendments do not exceed 10% ($2,500) of the agreement amount and do not significantly change the scope of work.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
a. Approve and authorize the Assistant County Administrative Officer to sign a retroactive one-year Event Agreement effective April 19, 2021,with Krave Group, LLC dba MotoAmerica, to sanction and produce the Geico Motorcycle MotoAmerica Superbike SpeedFest at Monterey to be held at WeatherTech Raceway Laguna Seca on July 9-11, 2021 for a base fee of $25,000; and
b. Approve and authorize the Assistant County Administrative Officer to execute up to three (3) future amendments to this Agreement where the total amendments do not exceed 10% ($2,500) of the agreement amount and do not significantly change the scope of work.
SUMMARY/DISCUSSION:
A&D Narigi Consulting, LLC, requests retroactive approval of a one-year Event Agreement with Krave Group, LLC, owner and operator of the Geico Motorcycle MotoAmerica Superbike SpeedFest at Monterey to be held at WeatherTech Raceway Laguna Seca on July 9-11, 2021, and will be broadcast live in the United States and Europe.
This Agreement is structured based on a 50/50 split on the sale of all parking, tickets and camping revenue. In addition, the County will retain 100% of sales from concessions, karting, parade laps, track activities, Flagroom hospitality and Pit Row Suites revenue. Much of the revenue potential will depend on whether or not spectators will be allowed to attend due to the ongoing global health pandemic. The County will receive an Event Fee of $25,000 in addition to the revenue opportunities stated above.
Retroactive approval is sought because A&D Narigi and Krave Group have been working out the scheduling and details of the event prior to contract approval by the County.
OTHER AGENCY INVOLVEMENT:
The County Administrative Office prepared this report which was reviewed and approved by the Office of County Counsel and the Auditor/Controller.
FINANCING:
This agreement is revenue generating for Fund 453 Laguna Seca Budget Unit 8536. Funding for costs related to the Agreement is included in the FY 2020-2021 Approved Budget.
BOARD OF SUPERVISORS STRATEGIC INITIATIVES:
The items included in this report relate to the Board of Supervisors Strategic Initiatives on Economic Development.
Mark a check to the related Board of Supervisors Strategic Initiatives
_X__ Economic Development
_ -_ Administration
___ Health & Human Services
___ Infrastructure
___ Public Safety
Prepared by: Lavonne Chin, Administrative Operations Manager, ext. 7214
Approved by: Dewayne Woods, Assistant County Administrative Officer, ext. 5309
Attachments: Krave Group Event Agreement