City of Racine - File #: 0169-24

• File #: 0169-24
• Version: A
• Name: Subject: Communication sponsored by Mayor Mason, on behalf of the City Administrator, requesting that the Mayor and City Clerk be authorized to execute a Management Agreement for the Racine Civic Centre between the City of Racine and 5K Events under the s
• Type: Communication
• Status: Passed
• File created: 2/21/2024
• In control: Finance and Personnel Committee
• On agenda: 3/5/2024
• Final action: 3/5/2024
• Title: Subject: Communication sponsored by Mayor Mason, on behalf of the City Administrator, requesting that the Mayor and City Clerk be granted permission to execute a Management Agreement for the Racine Civic Centre between the City of Racine and 5KEvents.Org, LLC under the subsidiary Festival Park, LLC, under the terms presented. Recommendation of the Finance and Personnel Committee on 02-26-2024: That the Mayor and City Clerk be granted permission to execute a Management Agreement for the Racine Civic Centre between the City of Racine and 5KEvents.Org, LLC under the subsidiary Festival Park, LLC, under the terms presented for the period ending 12/31/2025. Fiscal Note: Annual base management fee is $150,000 per year. Funding will be made available through a transfer of $70,000 from Funding 60686 52285 Operating Subsidy to account #60686 52290 Management Fee for a total of $150,000 and was approved December 5, 2023, pursuant to Resolution 1123-23.

Date	Ver.	Action By	Action	Result
3/5/2024	A	Common Council	Approved	Pass
2/26/2024	A	Finance and Personnel Committee	Recommended For Approval

Title

Subject: Communication sponsored by Mayor Mason, on behalf of the City Administrator, requesting that the Mayor and City Clerk be granted permission to execute a Management Agreement for the Racine Civic Centre between the City of Racine and 5KEvents.Org, LLC under the subsidiary Festival Park, LLC, under the terms presented.

Recommendation of the Finance and Personnel Committee on 02-26-2024: That the Mayor and City Clerk be granted permission to execute a Management Agreement for the Racine Civic Centre between the City of Racine and 5KEvents.Org, LLC under the subsidiary Festival Park, LLC, under the terms presented for the period ending 12/31/2025.

Fiscal Note: Annual base management fee is $150,000 per year. Funding will be made available through a transfer of $70,000 from Funding 60686 52285 Operating Subsidy to account #60686 52290 Management Fee for a total of $150,000 and was approved December 5, 2023, pursuant to Resolution 1123-23.