2019/01/23 Council Agenda Packet

EVERETT CITY COUNCIL AGENDA ITEM COVER SHEET PROJECT TITLE: Agreement with Village Briefing COUNCIL BILL# Theatre for Management of Proposed Action Originating Department Parks/Cultural the Everett Performing Art Consent Contact Person Kimberly Shelton Center X Action Phone Number 425-257-8305 First Reading FOR AGENDA OF January 23, 2019 Second Reading Third Reading Public Hearing Budget Advisory Initialed by: Department Head Administration Council President Location Preceding Action Attachments Department(s)Approval Everett Performing Art Council approval of Agreement Parks, Cultural, Legal, Center Amendment No. 1 on Administration July 3,2018 Amount Budgeted -0- Expenditure Required $150,000 (1st Year) Account Number(s): 112-5010000410 Budget Remaining -0- Additional Required -0- DETAILED SUMMARY STATEMENT: Village Theatre has been managing the Everett Performing Art Center since 1998,welcoming over 1.4 million gmests loaf time._Villageahe t eis_asal_uable 12artaer_of the City ofEveretLand th_e_teams_v_orked collectively to negotiate an updated compensation package for Village Theatre that is a win for both agencies. The proposed agreement reduces the annual management fee from$306,300 to $150,000 for the first year with annual adjustments based on the Consumer Price Index(CPI). The agreement expires on December 31,2025. The total compensation, excluding a CPI estimate, for the teiiu of the agreement is $950,000. The Agreement incentivizes Village Theatre with revenue opportunities and free rental space for their Mainstage and Kidstage productions. This agreement starts September 1,2019. RECOMMENDATION(Exact action requested of Council): Authorize the Mayor to sign the Agreement with Village Theatre for the management of the Everett Performing Art Center through December 31, 2025 in the amount of$150,000 for the first year,with annual CPI adjustments based on the Consumer Price Index. 21