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4 <br />West Field Santa Ana Stadium’s facility rental fees), security, set up, clean up, sponsorship <br />acknowledgements, insurance, taxes, fees (except those expressly assumed by City pursuant <br />to this Agreement), and any other costs involved in undertaking the Event. <br />B. As noted in Section 2 above, the City will procure and install flooring over the Eddie West Field <br />at the Santa Ana Stadium for the Event at City’s cost and will waive Permit fees for <br />Foundation. <br />C. The Parties agree to a share of the revenue from the Event. The goal of the revenue sharing <br />arrangement is that both Parties recoup their share of all costs paid by each Party or absorbed <br />by the City. <br />1) For purposes of this Agreement, “Revenue” means total ticket sales for the evening <br />portion of the Event, total fees paid by food, beverage and other Vendors to the <br />Foundation, and total sponsorship fees, excluding any in-kind sponsorship, paid to <br />Foundation for the evening portion of the Event. <br />2) The Parties agree to share Revenue from the Event as follows: <br />Table 1-Phased Approach to Expenditure Recovery <br />For clarity purposes, the following table includes the cost estimate, (but does not include the any <br />additional restrooms, security, first aid stations and on-site ambulances costs that may be <br />requested by the City and will need to be added to the overall cost estimate), for the Event: <br />City Pays/Absorbs Foundation PaysTotal <br />Flooring Rental $118,548 $118,548 <br />Absorption of Eddie <br />West Field at the Santa <br />Ana Stadium Rental <br />Fee <br />$9,005 <br />Security, <br />Food/Beverage, <br />Stage/Lighting, <br />Additional Floor <br />Seating, Sound System <br />$411,826 $411,826 <br />Total Costs $127,553 $411,826 $530,374 <br />Foundation has estimated that the Event will generate approximately $775,950 of Revenue. Under <br />normal circumstances, the City would collect a fee of $9,005 for the rental fee for the Eddie West <br />Field at the Santa Ana Stadium. However, in lieu of the normal rental fee, the City and Foundation <br />have agreed to the following formula for cost recovery for the Event, as outlined in the table below: <br />Milestone Ratio of Revenue to Total <br />Costs <br />City Cost Recovery at each Milestone <br />1 0%-%25 Maximum of $13,259 (10% of revenue) <br />2 26%-50%Maximum of $53,037 (20% of revenue) <br />3 51%-75%Maximum of $118,548 (City’s portion of total <br />costs) + $786 (a portion of the stadium rental <br />fee) <br />4 76%-100%Maximum of $118,548 (City’s portion of total <br />Exhibit 1 <br />  <br />  <br />City Council 12 – 8 9/23/2024