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a. Accept the Parks Director's recommendation to allow the Sports Car Racing Association of the Monterey Peninsula (SCRAMP) to enter into Amendment No. 2 to their Sponsorship Agreement with Mazda Motor of America (Mazda), for the Laguna Seca Raceway, for an additional period of five (5) years (2012-2017); and
b. Authorize the Parks Director, on behalf of Monterey County, to execute Amendment No. 5 to the Concession Agreement between SCRAMP and Monterey County approving Amendment No. 2 to the Sponsorship Agreement between SCRAMP and Mazda, including restricting the use of the of the income generated primarily for capital improvements to the Laguna Seca racing facility, Exhibits A and B attached hereto.
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RECOMMENDATION
It is recommended that the Board of Supervisors:
a. Accept the Parks Director's recommendation to allow the Sports Car Racing Association of the Monterey Peninsula (SCRAMP) to enter into Amendment No. 2 to their Sponsorship Agreement with Mazda Motor of America (Mazda), for the Laguna Seca Raceway, for an additional period of five (5) years (2012-2017); and
b. Authorize the Parks Director, on behalf of Monterey County, to execute Amendment No. 5 to the Concession Agreement between SCRAMP and Monterey County approving Amendment No. 2 to the Sponsorship Agreement between SCRAMP and Mazda, including restricting the use of the of the income generated primarily for capital improvements to the Laguna Seca racing facility, Exhibits A and B attached hereto.
SUMMARY/DISCUSSION
The Sports Car Racing Association of the Monterey Peninsula (SCRAMP) has a 55 year history of promoting major race events at Laguna Seca and, as a "not for profit" organization, has developed a strong connection with the local community as a result of their considerable charitable contribution and programs. The five annual SCRAMP racing events currently generate approximately $200 million in economic activity to the local community each year.
On February 7, 2012, the B...
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