FY2018 Hospitality Tax Small Capital Projects Funding
Funding process for FY2018 Hospitality Tax Small Capital Projects in Wake County, supporting convention, arts, culture. The process timeline, evaluation team, and minimum project criteria are outlined for prospective applicants. The timeline includes key dates from pre-submittal meetings to final board decisions.
Download Presentation
Please find below an Image/Link to download the presentation.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author. If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.
You are allowed to download the files provided on this website for personal or commercial use, subject to the condition that they are used lawfully. All files are the property of their respective owners.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author.
E N D
Presentation Transcript
FY2018 Hospitality Tax Small Capital Projects Funding Pre-Submittal Meeting November 3, 2017 or December 7, 2017
FY2018 Hospitality Tax Small Capital Projects Funding Process 20thAmendment to Interlocal Agreements approved in 2016 Established $2 million would be provided to Wake County each year for award to capital projects that supports convention, arts, culture and supports Approximately $3.5 million available from FY2017 and FY2018 Anticipate recurring two-year funding cycle
Wake County Room Occupancy and Prepared Food and Beverage Operating Principles Consistent with enabling legislation Drive measurable visitation and positive return on investment Support existing facilities Long-term operating viability Project mix that considers location and type of use Enhance quality of life and economic development for visitors, newcomers and long- time residents Leverage partnerships Support long-term vision Consider emerging experiences and unmet needs
Proposed Process Timeline October 2, 2017 October 9, 2017 November 3, 2017 February 8, 2018 February/March 2018 Board approval of process RFP Released Pre-submittal Meeting Submittals due Evaluation Team Reviews Submittals and Receives Presentations Evaluation Team Develop Recommendations Recommendations Presented at BOC Work Session BOC Decision March/April 2018 April 9, 2018 April/May 2018
Evaluation Team Wake County Staff Community Representatives County Manager s Office (Lead) Greater Raleigh Convention and Visitors Bureau Budget and Evaluation United Arts Council Facilities, Design and Construction Wake County Hospitality Alliance Parks, Recreation and Open Space Wake County Municipality
Minimum Criteria Project fully located in Wake County Consistent with statutory uses of revenues Capital in nature (minimum value of $100,000) Maximum County funding of 35% of total project cost Request shall not exceed $1,500,000 per project
Proposal Scoring Category Maximum Point Value Project Overview and Objectives Project Budgetand Funding Sources 15 points 20 points Project Timeline 15 points Project Operating Plan 20 points Project Visitor Estimates, Return on Investment and Performance Targets 20 points Organizational Information 10 points
Project Overview and Objectives (up to 15 points) Description of overall project Analysis of demand or unmet need Plan for project to effectively address need Need for County capital investment Description of partnerships/collaborations Tracking and measuring success Alignment with Operating Principles
Project Budget and Funding Sources (up to 20 points) All sources of funding Availability pending, committed, received Timing of receipt of funding Must have commitment for at least 50% of funding need May not include prior phases of project Expenditure plan Impact on existing infrastructure
Project Timeline (up to 15 points) Timeline to include: Study and Analysis of Project Site identification Land/Site acquisition Architectural/Engineering Studies Facility Construction Equipment Purchase Other (describe) Projects to secure construction contract or building permit within 12 months of approval by Board of Commissioners Projects to be completed within 36 months of Board of Commissioner approval
Project Operating Plan (up to 20 points) Demonstrate long-term viability/sustainability of project Ten-Year operating budget Include anticipated revenues and expenditures Ongoing maintenance and upkeep Plan for management of operations and marketing of facility Provide financial statements/audit results
Project Visitor Estimates, Return on Investment and Performance Targets (up to 20 points) Estimated visitor information Day visitors (within County and 75 mile radius) Overnight visitors (outside 75 mile radius) Calculate estimated Food and Beverage/Room Occupancy Tax Revenues (use updated spreadsheet on website www.wakegov.com/roomfoodtax) Calculate estimated Return on Investment Estimates to be used to establish performance targets in funding agreement
Organizational Information (up to 10 points) Organizations ability to deliver proposed project Years in business Organization size/structure Executive Officers Letters of support or endorsement Pending litigation or regulatory action Team leadership, experience, authority Similar projects
Contact During Process Proposal Contact: Denise Foreman, Assistant County Manager denise.foreman@wakegov.com Questions should be raised at pre-submittal meeting or submitted in writing No contact for Wake County employees, evaluation committee members or Board of Commission members prior to release of recommendations
Submittal Submit a single bound copy and electronic version on flash drive Proposal to be delivered to: Tom Wester Wake County Finance Procurement Services Wake County Justice Center 2ndFloor 301 S. McDowell Street Raleigh, NC 27601 Due by 3:00 pm on February 8, 2018 All submittals are public record and will be available for April 9 Work Session
Evaluation Process Team members review each proposal Team members receive presentation from all proposers Team will develop consensus score for each project based on submittal requirements Consensus scores will be shared with Board of Commissioners at April 9 Work Session Board may ask for presentation from some, all or none of the proposers If this is requested, a special Work Session would likely be set up.
Project Funding Agreement Once the Board of Commissioners vote on projects to receive a funding commitment, staff work with organization on Funding Agreement Key terms include: Scope and description of project Funding for project (all sources) Conditions precedent to funding (County dollars typically last dollars in) Timeline Performance goals/Reporting requirements Interruption of project operation after completion
