Laserfiche WebLink
8 <br /> for each course within 3 days of the end of each month. This report must <br /> be reconciled to the City's monthly Cash Collection Report for each <br /> course. Any variance will be resolved with the Contractor before the <br /> monthly fixed management fee is paid. <br /> b. The list of Contractor services performed for the monthly fee is contained <br /> in Exhibit J. <br /> c. The monthly management fee shall not be increased by during the initial <br /> term of the Contract. <br /> d. During the term of this Contract, the City shall pay the Contractor a <br /> growth incentive based on the financial performance of each course. The <br /> growth incentive takes into account total gross revenue, Operator Direct <br /> Costs,the Gross Operating Profit and the Contractor's written submittals, <br /> including subsequent written proposal clarifications, as part of the <br /> response to the City's Request For Proposal, 2007-002. The following is <br /> used to calculate the annual growth incentive. It is based on the combined <br /> total gross operating profit(i.e. total gross revenue [minus applicable <br /> taxes] from golf course operations minus Contractor direct costs and <br /> merchandise and food/beverage cost of goods sold). <br /> Incentive Structure <br /> Category Incentive 2008 2009 2010 2011 2012 <br /> Gross Gross Gross Gross Gross <br /> Profit in Profit in Profit in Profit in Profit in <br /> millions millions millions millions millions <br /> 1 10 2.00-2.10 2.05 -2.15 2.10-2.20 2.15 -2.25 2.20-2.30 <br /> 2 12 2.10-2.20 2.15 -2.25 2.20-2.30 2.25 -2.35 2.30-2.40 <br /> 3 14 2.20-2.30 2.25 -2.35 2.30-2.40 2.35 -2.45 2.40-2.50 <br /> 4 16 2.30-2.40 2.35 -2.45 2.40-2.50 2.45-2.55 2.50-2.60 <br /> 5 18 2.40-2.50 2.45 -2.55 2.50 -2.60 2.55 -2.65 2.60 -2.70 <br /> 6 20 2.50 + 2.55 + 2.60 + 2.65 + 2.70 + <br /> e. Between the Effective Date of the Contract and calendar year 2008, the <br /> Contractor will not receive an incentive payment. It will only receive its <br /> management fee (in addition to reimbursement of direct costs and <br /> merchandise and food/beverage cost of goods sold), <br /> f. Incentive payments are made by the end of the first quarter for the <br /> preceding calendar year, subsequent to the financial closeout and <br /> verification of the prior year's performance. <br /> t <br /> 22 <br />