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<br />ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br /> <br />ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: September 4, 2018 <br /> Action Agenda <br /> Item No. 8-s <br /> <br />SUBJECT: Performance Agreement Between the Town of Chapel Hill and Visitors Bureau <br /> <br />DEPARTMENT: Economic Development/Visitors <br />Bureau <br /> <br /> <br /> <br />ATTACHMENT(S): <br />2018-19 Performance Agreement <br />Between the Town of Chapel Hill and <br />the Chapel Hill/Orange County Visitors <br />Bureau for Annual Funding <br /> <br />INFORMATION CONTACT: <br />Laurie Paolicelli, 919-245-4322 <br /> <br /> <br /> <br /> <br /> <br /> <br />PURPOSE: To approve the 2018-19 performance agreement between the Town of Chapel Hill <br />and the Chapel Hill/Orange County Visitors Bureau. <br /> <br />BACKGROUND: Pursuant to the Chapel Hill/Orange County Visitors Bureau’s annual <br />performance agreement with the Town of Chapel Hill for tourism promotion, $200,000 has been <br />allocated to the Visitors Bureau for Fiscal Year 2018-19. In addition, the Town will pay 50% of <br />any additional revenues collected in the event the hotel/motel occupancy receipts exceed the <br />Town’s budgeted amount of $1,000,000. <br /> <br />Budget Year Contribution per Performance <br />Agreement <br />Additional Amount Received <br />Following Release of that <br />Years Audited Revenues <br />FY2012-13 $175,000 plus 50% of <br />collections over $950,000 <br />$ 13,000 <br />FY2013-14 $175,000 plus 50% of <br />collections over $950,000 <br />$ 43,750 <br />FY2014-15 $175,000 plus 50% of <br />collections over $985,000 <br />$ 57,739 <br />FY2015-16 $175,000 plus 50% of <br />collections over $985,000 <br />$108,903 <br />FY2016-17 $200,000 plus 50% of <br />collections over $1,000,000 <br />$ 93,755 <br /> <br />FINANCIAL IMPACT: The Town of Chapel Hill will provide $200,000 to the Chapel Hill/Orange <br />County Visitors Bureau, plus 50% of any additional revenues collected in the event the <br />hotel/motel occupancy receipts exceed the Town’s budgeted amount of $1,000,000. <br /> <br />1