Title
a. Approve and authorize the Monterey County Laguna Seca Representative to execute Amendment No. 1 to change the 2024 Event dates as to the Event Agreement executed on December 14, 2022 between the SportsCar Vintage Racing Association and the County of Monterey for a road racing event at WeatherTech® Raceway at Laguna Seca from April 20-21 to May 2-5, 2024. with a 2024 base fee of $168,000;
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
a. Approve and authorize the Monterey County Laguna Seca Representative to execute Amendment No. 1 to change the 2024 Event dates to the Event Agreement executed on December 14, 2022 between the SportsCar Vintage Racing Association and the County of Monterey for a road racing event at WeatherTech® Raceway at Laguna Seca from April 20-21 to May 2-5, 2024. with a 2024 base fee of $168,000;
SUMMARY/DISCUSSION:
SportsCar Vintage Racing Association (SVRA) is the owner and operator of the Laguna Seca SpeedTour, formerly known as the Trans Am Speedfest, which has been held at Laguna Seca Recreation Area multiple times since its first event in 1969. SVRA is one of the oldest and largest vintage racing organizations in the United States.
SVRA and the County executed an Event Agreement on December 14, 2022 for two events to be held on May 5-7, 2023 and April 20-21, 2024 (Attachment A). Due to its 2024 schedule, SVRA requires a change to their 2024 event date to be held at WeatherTech® Raceway at Laguna Seca (WRLS) from April 20-21 to May 2-5, 2024.
Staff requests the Board to approve and authorize the Monterey County Laguna Seca Representative to execute the proposed Amendment No. 1 (Attachment B) to amend the event dates for the 2024 Laguna Seca SpeedTour to be held at WeatherTech® Raceway at Laguna Seca to May 2-5, 2024.
OTHER AGENCY INVOLVEMENT:
The Office of County Counsel and Auditor-Controller’s Office reviewed and approved the proposed Amendment No. 1 as to form and fiscal provisions, respectively.
FINANCING:
SVRA will pay the County a $168,000 base fee for the 2024 event. Additionally, per the Agreement, the first $50,000 in ticket sales is specified as County revenue. Ticket sales revenue exceeding the first $50,000 will be divided evenly (50/50) between the County and SVRA. County retains all camping revenue.
BOARD OF SUPERVISORS STRATEGIC INITIATIVES:
The recommended action supports the Economic Development, Administration, and Infrastructure Strategic Initiatives. This Event Agreement will generate revenue to finance WRLS operations, maintenance, and capital improvements, as well as attract domestic and international visitor dollars that stimulate the local economy and promote economic development.
X Economic Development
X Administration
Health & Human Services
X Infrastructure
Public Safety
Prepared by: Ryan Bell, Administrative Operations Manager, LSRA, (831) 755-8912
Reviewed by: Bryan Flores, Chief of Parks
Approved by: Randell Ishii, MS, PE, TE, PTOE, Director of Public Works, Facilities, & Parks
The following attachments are on file with the Clerk of the Board:
Attachment A - Executed Event Agreement SVRA
Attachment B - Proposed Amendment No. 1