Agenda - Economic Development Authority - 04/14/2022

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The City of Ramsey Economic Development Team has been working with Ace Sales, Lynde Catering, The Links at Northfork and other local vendors to get pricing for event related activities and items. Based on information we have received at this time, a$5,500 allocation by the EDA for this event should be sufficient to maintain a balanced budget with some flexibility. This event focuses on networking and celebration for all Ramsey Businesses. Staff is looking for authorization to move forward in event planning and to select vendors and items. Budget: Staff has put together a preliminary budget that includes a$5,500 EDA allocation. Last year,the EDA allocated $5,000 for the event and staff is asking for an additional $500, for more flexibility in the budget. The remaining balance is funded through sponsorships, dinner tickets and event registrations. The proposed budget for the event is $22,400. Attached is the proposed 2022 Budget and the actual expenses for 202L. The 2022 event budget includes some of these key highlights: Key Line Item Costs per Attendee $100.00 -Cost for Golf and Dinner $45.00 -Cost for Dinner Only $24.00 -Promo Item -TBD $150.00 -Hole Sponsor Once EDA has approved $5,500 budget allocation, Staff would like to send out a"Save the Date" and the email invite to Ramsey Businesses and past attendees on or before June 3, 2022. Key Dates (tentative): April 15 - Save the Date flyers emailed and posted on website. On or before June 3 -Event invites sent out via email. June 3-Online registration opens. August 8 - Online registration closes. August 16 -Business Appreciation Day/2022 Business of the Year Recognition (Plants and Things) Venue Capacity: The Venue capacity is 298 which can accommodate a full event. As noted in previous Staff memos, Rum River Hills does not have the capacity to handle a full Business Appreciation Day event inside McDuff s. Staff is anticipating 144 golfers and 12 dinner only participants for the 2022 event. First Place Prize Eligibility Staff is proposing that all registered teams have the ability to win first prize. Event: (tentative) 9:00 Driving Range Opens 10-10:45 Registration 11-4:00 -Golf Tourney 4:30 -Dinner and Awards (2022 Business of the Year Award Presented) Funding Source: EDA Operations 9230-6249 and Marketing 9230.6246 budget line items - $5,500 and Event Revenue. Recommendation: Staff recommends that the EDA authorize a budget allocation of$5,500, select Lynde Catering (formerly Wells Catering) and select Tuesday,August 16 at The Links at Northfork for the 2022 Business Appreciation Day Event. Action: Motion to authorize EDA budget allocation of$5,500, select as the preferred caterer and select Tuesday, August 16 at The Links at Northfork for the 2022 Business Appreciation Day Event.