Board of Directors Regular Meeting Agenda


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Meeting Date: 03/26/2014  

SUBJECT MATTER:
Receive, consider and act upon the Third Amendment to the Host Venue Sponsorship Agreement between The Woodlands Township, The Woodlands Convention and Visitors Bureau and World Triathlon Corporation for the Ironman Texas event;

FISCAL IMPACT:
The Third Amendment deletes all provisions and obligations contained in the First Amendment related to the Events Trust Fund. The sponsorship contribution by the Woodlands Convention & Visitors Bureau as well as in-kind trade commitment from The Woodlands Township remains unchanged.
BACKGROUND:
In 2010, The Woodlands Township and the Woodlands Convention and Visitors Bureau entered into a five-year agreement with the World Triathlon Corporation (WTC) to host the Memorial Hermann Ironman Texas (Attachment A). The Agreement has twice been amended to address the Texas Event Trust Fund and for changing broadcast conditions. The Ironman event has proved to be a very successful and attractive major event in the world, drawing thousands of athletes and spectators from around the world.

WTC has presented a proposal to renew and extend the agreement, moving the time of year the event is held to earlier in the year, primarily due to weather conditions; and to add an IronKids Running Event with the 2015 Ironman event (Attachment B). This new component would be a one mile fun run held entirely along the Waterway the Saturday before the Ironman. The schedule of proposed event dates provided in the Original Agreement would be amended to include the following five (5) additional Ironman event dates, which shall occur during the Renewal Term:
• Saturday, May 14, 2016
• Saturday, April 22, 2017
• Saturday, April 28, 2018
• Saturday, April 27, 2019
• Saturday, April 25, 2020

WTC points out the following information and benefits of the event in The Woodlands and Montgomery County area:

• Provides an opportunity for residents of The Woodlands and Montgomery County to see some of the greatest endurance athletes in the world.
• The Woodlands is attractive to WTC as the venue for this premier event as The Woodlands is known as a world class community – home to hundreds if not thousands of world class athletes that would welcome the opportunity to host and participate in such a renowned event such as Ironman.
• There are thousands of volunteer opportunities for residents of the entire region to participate in the event and Ironman has been providing over $100,000 annually to local charities.
• The Ironman Triathlon consists of a 2.4-mile swim, a 112-mile bike and a 26.2-mile run completed in succession within a 17-hour timeframe.
• The event serves as one of 23 global qualifying races for the Ford Ironman World Championship that takes place each October in Kailua-Kona, Hawaii.
• Throughout its 35-year history, Ironman has transformed from an event into a lifestyle and sports brand that continues to inspire millions each year to take on new personal challenges and demonstrate the mantra, “Anything Is Possible.?”
• Attract 2,800 participants from nearly all 50 states and 25+ countries
• Live webcast creating 1.5 million in advertising impressions for The Woodlands on a global scale
• Create an economic impact of $15.9 million through the sale of thousands of hotel room nights, retail shopping, food and beverage dinners and sales.

Venues for the Ironman event in The Woodlands includes Northshore Park, Lake Woodlands, The Woodlands Waterway, Town Green Park, Waterway Square, The Woodlands Waterway Marriott Hotel & Convention Center and numerous restaurants and retail shops. Hotels throughout Montgomery County and even into Harris County are used by athletes, families, spectators, vendors, media and volunteers.

The Woodlands Convention & Visitors Bureau will be considering the Third Amendment at a Special Meeting prior to the Township Board meeting on Wednesday, March 26 at 5:00 p.m. and a report will be provided to the Board of their action. Additionally, Montgomery County will be considering approving the use of the county roads at the March 24, 2014, Commissioners Court meeting.

A Joint Resolution of The Woodlands Township and The Woodlands Convention and Visitors bureau regarding Ironman Texas has been also been prepared (Attachment C).

The Strong Firm has prepared the Third Amendment (Attachment D).
RECOMMENDATION:
It is recommended to approve the Third Amendment to the Host Venue Sponsorship Agreement between The Woodlands Township, Woodlands Convention and Visitors Bureau and World Triathlon Corporation for the Ironman Texas event.
Attachments
Agreements A
Ironkids B
Res C
Ironkids Addendum Attachment D
Resolution


    

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