Business Retention and Development Committee Agenda and Packet 2016 10 03

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City gat Im Louisville COLORADO • SINCE 1878 CITY COUNCIL COMMUNICATION AGENDA ITEM SUBJECT: DATE: 2016 STREET FAIRE SEASON UPDATE SEPTEMBER 13, 2016 PRESENTED BY: AARON M. DEJONG, ECONOMIC DEVELOPMENT SUMMARY: The Downtown Business Association (DBA) held the 2016 Street Faire campaign. This report will outline the changes made for 2016, the results of the 2016 season, and suggested changes for the 2017 season. BACKGROUND: The DBA has put on the Downtown Street Faire for 16 years and the Faire has grown into a premier community concert series helping foster the renaissance in downtown Louisville. The Street Faire was mostly volunteer -operated until 2016, when the DBA hired a Street Faire Manager. On November 2, 2015, the City Council agreed to financially assist the Street Faire program by committing for 2016 the following assistance: 1. City will provide police services for the Street Faire season (estimated cost of $8,500 for 7 events). 2. City will provide parking shuttle services (estimated cost of $3,600 for 7 events) 3. City will provide full funding to the DBA to hire an event coordinator to handle planning and operations duties of the Street Faire (estimated at $50,000). 4. Should Street Faire revenues not exceed the DBA's costs to operate the Street Faire, the City will provide a payment equal to 100% of the net loss from operations. In exchange for the help from the City, the DBA agreed to: • Transition the event into a 7 night series (normally 9 nights), • Book national acts that would attract 4,000-6,000 concert goers, limiting acts that have the potential of bringing many more people than that • Form a 5 -person Street Faire Committee, including one representative selected by the City Manager, to discuss and decide issues related to the operations of the Faire. COUNCIL COMMUNICATION