SUBJECT:
Title
Request Approval of Tourist Development Council Funding Request for CSF Aquatics, LLC for the USA Swimming Speedo Sectionals for 2025 and 2026 (Budget Impact - Neutral; expenditure of $50,000 total, $25,000 per year)
Body
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INITIATOR: |
DEPARTMENT: |
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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. This funding contract is for the USA Swimming Speedo Sectionals hosted by CSF Aquatics, LLC, to be held June 26-29, 2025 and May 21-24, 2026 at the Florida Aquatics Swimming and Training facility. The estimated economic impact for this event is $2,266,824 and is anticipated to produce a 120% return on investment. This event was initially recommended for funding by the TDC at their regularly scheduled meeting on January 25, 2024 and a subsequent recommendation for funding was made by the TDC on February 27, 2025 for a change of date for the 2025 event year. The TDC recommends funding this event for 2025 and 2026.
USA Swimming Speedo Sectionals $25,000 per event year
BUDGET/IMPACT:
Neutral; expenditure of $25,000 per event year. Funding from CP155552-548101.
RECOMMENDED ACTION:
Recommended action
Motion to approve the Tourist Development Council funding request, make findings that the event has as one of its main purposes the attraction of tourists and that the funding program promotes tourism in the State of Florida, and authorize the Chair and Clerk to execute attached funding agreement.
end