SUBJECT:
Title
Request Approval of Tourist Development Council Funding Request for a Room Night Generating Event - HITS Ocala Winter Circuit Weeks 1-5 Hosted by HITS, LLC (Budget Impact - Neutral; expenditure of up to $37,500)
Body
INITIATOR: DEPARTMENT:
Loretta Shaffer, Director Tourist Development
DESCRIPTION/BACKGROUND:
The Tourist Development Council (TDC) seeks funding approval for organizations that have festivals, events, or programs which support the TDC’s mission of growing the economy and accelerating prosperity in Marion County through effective destination sales and marketing. The Room Night Generating Event Funding Program is intended to position Marion County as a must-experience destination in Florida through bringing quality events and initiatives to Marion County. This funding contract is for the HITS Ocala Winter Circuit Weeks 1-5 hosted by HITS, LLC, to be held January 14 - February 16, 2025, at the HITS Post Time Farm. The estimated economic impact for this event is $6,677,624 and is anticipated to produce a 518% return on investment. This event was recommended for funding by the TDC at their regularly scheduled meeting on September 26,2024.
HITS Ocala Winter Circuit Weeks 1-5 $37,500
BUDGET/IMPACT:
Neutral; expenditure of up to $37,500. Funding from CP155552-548101.
RECOMMENDED ACTION:
Recommended action
Motion to approve the Tourist Development Council funding request and authorize the Chair and Clerk to execute the attached funding agreement.
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