THE PARKS AND RECREATION DIVISION RECOMMENDS APPROVAL OF THE ABOVE MOTION.
This item is in furtherance of the Board's Strategic Plan Value of cultivating community culture, arts, recreation and life-long learning and its attendant Goals to "in coordination with our community partners, market and deliver world-class recreational opportunities."
The County and Worldwide Sports Management Group, LLC ("Worldwide") entered into an Agreement dated June 14, 2017, for the promotion and management of international and major cricket events at the Stadium at the Park. Worldwide and County desire to amend the Agreement concerning cricket event bookings, park capital improvements, and other terms and conditions highlighted below.
Section 4.2 is amended to create a cap, where previously there was none. Per the amendment, the total amount of late fees for nonpayment of the guaranteed payment installments will now be capped at 5% of the installment amount.
Section 4.5 is amended to eliminate the $200 per hour Stadium lighting charges to Worldwide, as Worldwide has spent approximately $550,000 in upgrading the Stadium lighting to TV-ready LED. The Stadium practice days use amount is reduced from $1,000 per day to $750 per day to better reflect local use rates.
Section 4.7 is amended to eliminate the language requiring Worldwide to provide its own cricket curator for events.
Section 4.8 is amended to modify the terms regarding Worldwide installing additional internet cabling. Once installed, Worldwide will not be charged for its use of that cabling. Third-party events utilizing that cabling will be charged $500 per day by County. Beginning in Agreement Year 3, Worldwide will receive a credit for the third-party cabling fees received by the County under this agreement, not-to-exceed $8,000 per Agreement Year; fees totaling in excess of $8,000 per year will be retained by County.
Section 9.2 is amended to add language establishing an annual two-month “First Option Period” from July 15 - September 15, under which Worldwide, with at least 90-days prior notice to the Stadium Manager, will receive reservation first priority for cricket events. Should Worldwide exercise this booking option, any other events booked during that period are subject to rebooking or cancellation, with the exception being Labor Day Weekend. Language is also added assuring the County and Worldwide use their best efforts to accommodate any bookings during the First Option Period requested by the Greater Fort Lauderdale Convention and Visitors Bureau. Section 9.2 also clarifies language regarding the number of expected annual cricket events and what event length distinguishes a single event from two events.
Section 12.1 is amended to reduce Worldwide’s annual performance guarantee deposit from $265,000 to $70,000, which equates to a revised performance guarantee deposit of roughly six months’ installment fee payments.
Section 1.1 of Exhibit “A” is amended to add language establishing a “commercially reasonable efforts” standard for Worldwide to deliver its cricket events. Agreement default language for not meeting required event numbers is eliminated, since Worldwide is paying the County the base equivalent.
Section 2.11.1(I) of Exhibit “A” is amended to add language allowing Worldwide to elect to hire a cricket pitch curator for its events rather than using County’s staff Stadium cricket curator. If so exercised, Worldwide’s cricket pitch curator will assume all cricket pitch maintenance responsibilities; the existing County staff person will be re-assigned, and; County would contribute $30,000, annually, to Worldwide’s cricket curator expense as a credit against Worldwide’s Annual Guarantee Fee to County.
Section 8.1 of Exhibit “A” is amended to eliminate Worldwide’s requirement to pay $30,000 in Agreement Year 7, at the County's sole discretion, for "Stadium-related needs".
Exhibit “A” is amended to include the following substantive changes to the Equipment, Capital Improvements, and Contributions Schedule:
- Worldwide’s annual contribution amount has been reduced to reflect the lowered annual performance guarantee deposit amount;
- Purchases of the Super Sopper, Tri-vision screens/covers, cricket square covers, and internet cabling are shown as satisfied for Agreement Year 1;
- Stadium lighting upgrades at an approximate cost of $550,000 are shown as moved up from Agreement Year 5 to Agreement Year 2 and are shown as satisfied;
- The requirement for Worldwide to build a home team locker room in Agreement Year 3 is eliminated;
- The requirement for Worldwide to purchase and install bleachers in Agreement Year 5 is eliminated;
- Worldwide’s requirement to construct four corporate suites is moved up from Agreement Year 7 to Agreement Year 5.
The Office of the County Attorney included within the First Amendment to Agreement other ministerial/“housekeeping” and language changes.
The Office of the County Attorney has approved the First Amendment to Agreement as to legal form and sufficiency. The Risk Management Division has approved same as to insurance requirements. |