TITLE
Recommendation to authorize City Manager to execute a five-year extension of the contract, commencing January 1, 2011, with Sea Festival Association of Long Beach, Inc.; clarify language in the agreement as recommended in the Fiscal Year 2008 City Auditor’s report; and make adjustments to the revenue sharing agreement with the City. (Citywide)
DISCUSSION
Started in 1931, the Long Beach Sea Festival was a grand event drawing thousands to the Long Beach shoreline to enjoy a host of summer events. Over the decades, the event dwindled to a small number of activities. In 2005, the City recruited a group of interested citizens to form the Sea Festival Association of Long Beach, Inc. (Association), a 501 (C)3 nonprofit, to take on the role of revitalizing and promoting the Sea Festival back to a major summer entertainment and economic event. On May 3, 2005, the City Council approved an agreement with the Association to develop and promote a Sea Festival program.
Today, this venture can be officially deemed a huge success. In the last three years, the Sea Festival has grown to almost 100 events, drawing over 12,000 participants and 270,000 spectators. Events include AVP Beach Volleyball, offshore power boat races, the Dragon Boat Festival, the Lobster Festival, concerts, and more. Following the 2007 Sea Festival, the Association commissioned an independent economic impact study, which credited the Sea Festival with producing $5.6 million in direct annual economic impact. In addition, with the success and growth of the Sea Festival, the City has received strong advertising exposure in newspapers, magazines, and television.
As a result of the enormous success and to secure promoters and sponsors in longterm commitments, the City and Association wish to affirm this arrangement and extend the contract an additional five years.
In addition to the extension of the contract, City management wishes to use this opportunity to amend two other areas in the agreement. T...
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