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...
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