TITLE
Recommendation to authorize City Manager, or designee, to execute an Agreement with KPMG Corporate Finance, LLC, to assist the City in the evaluation and selection process for the operator of the Grand Prix of Long Beach, in an amount not to exceed $150,000 over a one-year term. (District 2)
DISCUSSION
In 2015, the City released a Request for Proposals (RFP) for assistance in the preparation, evaluation, and selection of an operator for the Grand Prix of Long Beach. Three proposals were received, and Mr. Lance Schaefer was selected to assist the City with the preparation of the Grand Prix RFP for the marketing, operation, and associated event planning for the Grand Prix of Long Beach at a cost of $50,000.
The Grand Prix RFP, which provided an opportunity for all open-wheeled race formats, was issued on October 5, 2016, and closed on November 18, 2016. The City received two responses, one from the Grand Prix Association of Long Beach, currently affiliated with Indy Car, and the other from World Automobile Championship of California, LLC, proposing a Formula 1 affiliation.
For the selection process, the City will need assistance in analyzing the operational, technical, and promotional aspects of the proposals; the feasibility and capability of the proposers; the economic benefits and revenue opportunities for the City; and, the impact on City services. Mr. Schaefer’s experience with multiple race formats, and specific knowledge of the Grand Prix of Long Beach, were critical in preparing the Grand Prix RFP. Given the magnitude of the event and the services that will be required from the contractor, it is recommended that the City engage a consultant with more extensive resources for the evaluation and selection phase of the process.
One of the other firms that responded to assist in the preparation of the Grand Prix RFP was KPMG Corporate Finance, LLC (KPMG). KPMG has extensive depth in their team, which includes Apex Circuit Design, to assist the C...
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