Title
RESOLUTION AUTHORIZING AN AGREEMENT WITH SPIRIT MOUNTAIN RECREATION AREA AUTHORITY FOR 2024 IN THE AMOUNT OF $440,000 FOR OPERATING ASSISTANCE AND $145,700 FOR ADVENTURE PARK LEASE PAYMENTS.
Body
CITY PROPOSAL:
WHEREAS; the city council approved $440,000 as an operating subsidy and $145,700 for adventure park lease payments to the Spirit Mountain Recreation Area Authority in resolution 23-0691R passed on September 25, 2023 that appropriated the estimated 2024 hotel-motel and food and beverage tourism taxes.
RESOLVED, that the proper city officials are hereby authorized to enter into an agreement, substantially in the form attached as Exhibit A, with Spirit Mountain Recreation Area Authority in the amount of $440,000 for operating assistance and $145,700 for Adventure Park lease payments, payable from 258-030-5436-07; (tourism tax fund, finance, tourism tax allocation, Spirit Mountain).
Statement of Purpose
STATEMENT OF PURPOSE: This resolution authorizes an agreement with Spirit Mountain for 2024 to provide $440,000 for operating assistance and $145,700 for lease payments. This agreement is funded by tourism tax collections, and may be reduced or terminated in the event that insufficient proceeds are derived from hotel-motel and food and beverage tourism taxes.