Agenda - Economic Development Authority - 03/09/2023

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Economic Development Authority(EDA) 4.3. Meeting Date: 03/09/2023 By: Sean Sullivan, Community Development Title: 2023 Business Appreciation Day Event Budget and Planning Purpose/Background: Purpose: Provide update to the EDA of the status of 2023 event and to receive feedback and budget approval. Background: The City of Ramsey has a rich history in hosting a Business Appreciation Day and Business of the Year Award dinner to celebrate the great businesses in our community.With Covid restrictions for the event lifted last year,the event returned to the Links at Northfork and it was full with 144 participants. Plants and Things was presented with the 2022 Business of the year award. The Links at Northfork uses Lynde Catering (Formerly Wells Catering) for its events and the City has been very satisfied with the quality of service and food. The Links of Northfork has been the host of this event for many years and has agreed to host again. The facility size and layout are conducive to a great event and pricing for golf has remained unchanged. The EDA gave direction at the September 9, 2022 meeting to utilize Lynde Catering for the 2023 event and to continue to host it at the Links at Northfork. All aspects relating to the format,golf,meal and 2023 Business of the Year ceremony will remain consistent with non-Covid 19 years. The EDA has always provided a City of Ramsey item for each of the participating golfers. Staff proposes that this marketing "giveaway" continue and is asking for staff to have the discretion to select an item. Staff is asking for a budget of up to $24.00 per item in for the 2023 Event. For 2023,we will be implementing prizes for best Hole Sponsor(activity) and Best Dressed team and will incorporate into the marketing/registration. Notification: N/A Observations/Alternatives: The City of Ramsey Economic Development Team has been working with 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 (same as last year) 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 continue to move forward in event planning and to receive budget approval. Budget: Staff has put together a preliminary budget that includes a$5,500 EDA allocation which is the same as last year. The remaining balance is funded through sponsorships, dinner and event registrations. The proposed budget for the event is $22,875. Attached is the proposed 2023 Budget and the actual expenses for 2022. The 2023 event budget includes some of these key highlights: Key Line Item Costs per Attendee $100.00 - Cost for Golf and Dinner