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Town of Chapel Hill Executive Summary |
Meeting Date: 04-15-2009 AGENDA #4d |
Title of Agenda Item: Proposed Extension of a Concession Agreement for Operation of the Town’s Skate Park and Batting Cage Facilities
Background: Adoption of the attached resolution would authorize the Manager to execute an extension of a concession agreement with Aloha II Inc. that would allow the existing concessionaire to continue to operate the facilities at Homestead Park for another year, with options to extend the agreement for two additional years.
The memorandum describes the proposed terms of the agreement, which are substantially the same as the current agreement.
Fiscal Note: The proposed agreement contains a sliding scale that requires the concessionaire to make payments to the Town if his gross revenues exceed $80,000. The amount payable to the Town increases as gross revenues increase. The Town is liable to make payments to the concessionaire if his gross revenues are less than $80,000. The maximum Town liability is $12,000.
The memorandum addresses future renovation and expansion needs that could have financial impacts in the future.
Staff Recommendation(s): That the Council adopt the attached resolution that would authorize the Manager to execute an extension of the concession agreement with Aloha II Inc. for operation of the skate park and batting cage facilities at Homestead Park for another year, with options to extend the agreement for two additional years.
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