Title
a. Approve and authorize the County Administrative Officer, or designee, to execute an Agreement with INDYCAR, LLC for the production and execution of an annual major race event at WeatherTech Raceway Laguna Seca in the years 2022-2024 for a total Sanctioning Fee of $1,350,000 per year if not the finale event and $1,600,000 per year if the finale event, as requested by A&D Narigi Consulting, LLC; and
b. Approve and authorize the County Administrative Officer, or designee, to execute up to three (3) future amendments to this Agreement where the total amendments do not exceed 10% ($160,000) and do not significantly change the scope of work. (ADDED VIA ADDENDA)
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
a. Approve and authorize the County Administrative Officer, or designee, to execute an Agreement with INDYCAR, LLC for the production and execution of an annual major race event at WeatherTech Raceway Laguna Seca in the years 2022-2024 for a total Sanctioning Fee of $1,350,000 per year if not the finale event and $1,600,000 per year if the finale event, as requested by A&D Narigi Consulting, LLC; and
b. Approve and authorize the County Administrative Officer, or designee, to execute up to three (3) future amendments to this Agreement where the total amendments do not exceed 10% ($160,000) and do not significantly change the scope of work.
SUMMARY/DISCUSSION:
A&D Narigi Consulting, LLC, (A&D) requests approval to enter into an agreement with INDYCAR, LLC to produce and execute three (3) major events in accordance with requirements provided by the County at WeatherTech Raceway Laguna Seca (WRLS). The events will be scheduled for 2022-2024.
If the finale is scheduled at WRLS, Laguna Seca Recreational Area Manager has offered INDYCAR an end of year reception at a retail value of $250,000 as an option. If INDYCAR agrees, the sanctioning fee would remain at $1,350,000. The reception would allow for 800-1000 guests of INDYCAR at an o...
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