SUBJECT:
Title
Request Approval of Tourist Development Council Request for Room Night Generating Funding for the Grandview Invitational Hosted by Grandview Invitational, Inc. (Budget Impact - Neutral; expenditure of up to $19,600)
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 program 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 Grandview Invitational hosted by Grandview Invitational, Inc. to be held on January 30 - February 1, 2025, at Florida Horse Park. The estimated economic impact for this event is $969,295 and is anticipated to produce a 17% return on investment. This event was recommended for funding in the amount of $19,600 by the TDC at their regularly scheduled meeting on November 21, 2024.
BUDGET/IMPACT:
Neutral; expenditure of up to $19,600. Funding from CP155552-548101.
RECOMMENDED ACTION:
Recommended action
Motion to approve the Tourist Development Council funding request and authorize the Chairman and Clerk to execute the attached funding agreement.
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