Title
a. Approve and authorize the Contracts/Purchasing Officer or his designee to sign a one-year Facility Use Agreement with Velocity International, LLC, to sanction, produce and hold a vintage racing event at WeatherTech Raceway Laguna Seca on November 11-14, 2021 for a base fee of $200,000 effective from the date of approval through November 16, 2021; and
b. Approve and authorize the Contracts/Purchasing Officer or his designee to execute up to three (3) future amendments to this Agreement where the total amendments do not exceed 10% ($20,000) 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 Contracts/Purchasing Officer or his designee to sign a one-year Facility Use Agreement with Velocity International, LLC, to sanction, produce and hold a vintage racing event at WeatherTech Raceway Laguna Seca on November 11-14, 2021 for a base fee of $200,000 effective from the date of approval through November 16, 2021; and
b. Approve and authorize the Contracts/Purchasing Officer or his designee to execute up to three (3) future amendments to this Agreement where the total amendments do not exceed 10% ($20,000) of the agreement amount and do not significantly change the scope of work.
SUMMARY/DISCUSSION:
A&D Narigi Consulting, LLC, requests approval of a one-year Facility Use Agreement with Velocity International, LLC, owner and operator of the “Sonoma SpeedFest,” to sanction, produce and hold a vintage racing event at WeatherTech Raceway Laguna Seca on November 11-14, 2021 for a total of $200,000.
In addition to the base fee, County shall retain the first $25,000 in ticket and camping sales along with catering commissions, retail sales and fuel sales. Estimated total revenue for the weekend is $275,000.
The event is scheduled for November, creating tourist demand and a positive economic impact on the County during a historically slow visitation period. Event attendance is estimated at 15,000. This sophisticated vintage car event is the same high quality as the Rolex Monterey Motorsports Reunion with a strong base of supporters.
OTHER AGENCY INVOLVEMENT:
The Office of County Counsel has approved this Agreement as to form.
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.
_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: Velocity International, LLC Facility Use Agreement