Tax Increment Reinvestment Zone No. One

Agenda Request

Agenda Of:

03-05-10

Agenda Request No:

iii-c

Initiated By:

Tim Neeley
Business Resource Manager

Responsible Department:

Economic Development

Presented By:

Regina Morales
Economic Development Director

Rita Sosebee,
Marketing & Event Manager,
PCD Management LLC

Department Head:

Regina Morales,
Economic Development Director

 

Additional Department. Head (s):

N/A

Subject / Proceeding:

Review of and Discussion on Sugar Land Town Square Additional / Enhanced 2010 Plaza Events

Exhibits:

N/A

Clearances

Approval

Legal:

N/A

Director:

Regina Morales

Purchasing:

N/A

Assistant City Manager:

N/A

Budget:

N/A

 

 

Recommended Action

Review and discuss proposed additional / enhanced 2010 Plaza events.

Executive Summary

In the FY2010 TIRZ Budget approved September 25, 2009, $100,000 was allocated to help fund additional / enhanced events in Sugar Land Town Square. This funding is in addition to the $200,000 allocated for the standard POA events and marketing. Of that $100,000, $50,000 was allocated to the City of Sugar Land to help fund the New Years Eve event. The remaining $50,000 is to be allocated to new or enhanced events from the SLTS POA.

 

The self-renewing contract between the TIRZ and SLTS POA which was approved May 1st, 2009 provides that the POA’s annual funding amount is set based on the amount approved in the budget. However, prior to payment of these funds it is required that the SLTS Property Owner’s Association provides to the Board an overview of the proposed use of the funds. The POA provided a budget and overview of standard 2010 events to the Board on September 25th, 2009 which fulfilled this requirement for the $200,000 in funding. Rita Sosebee, Event Manager with the SLTS POA is providing an overview of the planned additional / enhanced events which will be funded by the $50,000.

Exhibits

 

N/A