Fiscal Note
The Room Tax Fund 2009 Budget includes $200,000 for the Event Booking Assistance Subsidy. There is no fiscal impact associated with adoption of these guidelines.
Title
Approving the Guidelines for Monona Terrace Event Booking Assistance Fund.
Body
Preamble
By Resolution No. 22963, adopted March 3, 1998, the Common Council approved the composition of the Monona Terrace Shuttle Advisory Committee, now known as the Monona Terrace Event Booking Assistance Advisory Committee (the Committee), and also approved the Committee's Guidelines and Policies for Use of Monona Terrace Shuttle Funds (the "Guidelines"). The Committee's functions are to oversee the implementation of the Event Booking Assistance Funds by the Greater Madison Convention & Visitors Bureau, and to make recommendations to the Common Council for updating the Guidelines, if necessary. Each year the amount of Funds available to assist in the marketing support of Monona Terrace is included in the City's operating budget. The 2009 adopted operating budget includes the amount of $200,000 designated as an Event Booking Assistance Subsidy.
With the construction of the Hilton Madison Monona Terrace, the need of the Funds for hotel shuttle transportation purposes decreased. The need for event booking assistance to support Monona Terrace, however, has increased due to competition from other cities, most of which have their own event assistance funding available. The original Guidelines are now more than ten years old, and the funding has increased to $200,000 in 2009. The Monona Terrace Event Booking Assistance Advisory Committee recommends that the following Guidelines of Monona Terrace Event Booking Assistance Fund be approved by the Common Council:
GUIDELINES FOR
MONONA TERRACE EVENT BOOKING ASSISTANCE FUND
To qualify for funds: Group requesting or being offered (herein referred to as "Client") non-shuttle fund assistance must:
- be holding 75% of its programmed events for the designated convention at the Monona Terrace Community and Convention Center
- be utilizing a minimum of
250 peak room nights at a minimum of two hotels (within City of Madison Room Tax district), with the overflow (second hotel) block being a minimum of 50 rooms
- meet Monona Terrace definition of convention
- meet one of two following requirements:
- Direct spending impact must be projected to equal $100,000 or more; OR
- Out of town attendance must be projected at 400 or more
- not be requesting funds retroactively following contracting of event
Guidelines:
- The level of funding is based upon the number of total room nights
sleeping rooms in the block blocked by Client. The final dollar amount contributed is based upon the total number of realized/occupied room nights by Client. The Client must pick up at least 85% of projected pick up to receive total funding commitment. If 85% is not realized, funding will be decreased proportionate to the actual pickup. For groups whose room pick-up drops below 250 peak room minimum, City's contribution may decrease proportionately to the drop in rooms realized.
- Recommended funding level: a
$600/100 $1,500/100 room night pick-up guideline is recommended. A higher funding level would be considered for groups such as those willing to meet at "opportunity" times such as January, February, March, November and December.
- Any invoice balance for the related service or product to be realized (difference between City contribution and vendor's total bill) is the responsibility of the Client.
Now therefore, be it resolved, that the Common Council hereby approves the Guidelines of Monona Terrace Event Booking Assistance Fund as stated herein.