Agenda - Economic Development Authority - 05/08/2014

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Economic Development Authority (EDA) Meeting Date: 05/08/2014 By: Ted LaFrance, Administrative Services Title: Business Appreciation Golf Tournament Contract with Northfork 4. 1. Purpose /Background: Traditionally, over the past few years, the Ramsey EDA Business Appreciation Golf Tournament has been held at The Links of Northfork. This high -value and well - attended event showcases the EDA's Business of the Year, expresses thanks to our businesses for their investment in Ramsey and opens up lines of communication- - demonstrating our desire to continually improve our product, the City, for our customers, the businesses of Ramsey. Staff has begun planning and creating materials (flyers, etc.) for the event, held on the 3rd Tuesday in August each year. This year the event is scheduled for the 19th of August. In order to continue planning /preparations for the event, Staff needs direction to move forward, or not, with signing a contract with Northfork. The attached contract is due by May 23rd. Staff would like to note that Northfork has been chosen for this event due to the ability of the venue to host 120+ golfers and additional folks attending just the dinner portion of the event. Staff also notes that the stated cost per person in the new contract is higher than the rate provided in 2013. Staff is working to communicate with Northfork to see if the price is able to be adjusted, based on our continuous support of Northfork for this event. The increase in price will likely push the event over - budget for 2014 by up to roughly $835. Staff is working to determine if the potential added expense can be distributed /reflected in participant fees, hole sponsor fees, and dinner cost. Notification: Observations /Alternatives: Alternative #1: Continue communicating with Northfork to work on the per person price, work to adjust the participant pricing schedule and move forward with securing Northfork for the 2014 event via signed contract; Staff would recommend this alternative. Alternative #2: Seek an alternative venue; Staff would not recommend this alternative. Funding Source: EDA Budget; Golf Tournament Recommendation: Continue communicating with Northfork to work on the per person price, work to adjust the participant pricing schedule and move forward with securing Northfork for the 2014 event via signed contract. Action: Motion to continue communicating with Northfork to work on the per person price, work to adjust the participant pricing schedule and move forward with securing Northfork for the 2014 event via signed contract.