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Summary:
Live Nation and AEG are leading national promoters of live music concerts, comedy events and other entertainment events that will support the City’s goal of maximizing the entertainment opportunities available to the community. In 2010, the year that Amway Center opened, the City and these promoters entered into agreements that incentivized both the promoters to book events at our venues. The original agreements provide payments to book and promote events at the Amway Center on the terms and conditions mutually agreed upon in 2010. The terms set forth in the attached amendment update the financial considerations in keeping with similar venues. The changes includes an increase in the Use Fee negotiated cap payable to the City from sixty five thousand dollars ($65,000.00) to seventy thousand dollars ($70,000.00) for full house set-up and for a lower bowl only setup a change from fifty thousand dollars ($50,000.00) to fifty-five thousand dollars ($55,000.00). In addition the financial considerations for per paid ticket changes from six dollars ($6.00) for shows one (1) through ten (10) and seven dollars ($7.00) for show eleven (11) through fifteen (15) to seven dollars ($7.00) for show one (1) through fifteen (15) and seven dollars and fifty cents ($7.50) for show sixteen (16) and greater. After the conclusion of the eleventh (11th) event an additional financial consideration changes from twenty-five thousand dollars ($25,000.00) to fifty thousand dollars ($50,000.00). The amendment to the original agreement will enable the Orlando Venues to attract shows it might not otherwise be able to obtain and to share in the financial upside of these shows. These agreements with these major national promoters have been successful in generating additional shows and revenues for the City. Approval of this Agenda item will give the Venues Executive Director authority to amend the original agreements as well as entering into agreements with the same or substantially similar terms and conditions as the agreements and amendments attached with other major national promoters if the opportunity presents itself. |
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Fiscal & Efficiency Data:
N/A
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Recommended Action:
Approval and authorize the Venues Executive Director to execute the Promoter Agreement amendments with Live Nation and AEG, and authorize the Venues Executive Director to enter into agreements with other major national promoters under the same or substantially similar terms and conditions, all subject to review and approval by the City Attorney’s Office. |
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Agenda Item attachment(s) on file in the City Clerks Office.
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Note:
All agenda items must
be in the City Clerk's office by Noon Friday, six(6) business days prior to the
regular Monday City Council meeting.
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Contact:
Clyde Boutte
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Approved By:
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Department
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Date and Time
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| Budget Outside Routing Approval |
9/8/2016 11:02 AM |
| City Clerk |
9/8/2016 11:11 AM |
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