HomeMy WebLinkAboutResolution 3171-03-2005A Resolution
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AUTHORIZING THE EMPLOYMENT OF OUTSIDE LEGAL COUNSEL
FOR ASSISTANCE RELATED TO A MARKETING INCENTIVE PROGRAM WITH
TEXAS MOTOR SPEEDWAY, INC AND THE FORT WORTH CONVENTION AND
VISITORS BUREAU
WHEREAS, City staff and Texas Motor Speedway Inc. (TMS) are in negotiations regarding a
financial incentive program (the Program) between the City TMS and the Fort Worth Convention and
Visitors Bureau (CVB), and
WHEREAS, the Program will provide for the City to make certain economic development
grants authorized by Chapter 380 of the Texas Local Government Code to the CVB for marketing
related to TMS's securing a second NASCAR NEXTEL Cup Race at Texas Motor Speedway' and
WHEREAS, the City requires specialized advise and expertise in order to structure properly the
marketing and advertising components to the Program; and
WHEREAS, the law firm of Kane Russell Coleman & Logan, P C., has significant experience in
providing legal assistance to cities in stadium and arena developments, including issues related to
marketing and advertising.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT
WORTH, TEXAS
I.
That the City is hereby authorized to retain the law firm of Kane Russell Coleman & Logan,
P C as outside counsel pursuant to Section 3 Chapter VI of the City Charter for assistance in
structuring the terms and conditions of a Marketing Incentive Program between the City TMS and the
CVB.
II.
That, as far as practicable, the compensation to be paid to Kane Russell Coleman & Logan, P C.
shall not exceed an aggregate of $25 000
AND IT IS SO RESOLVED.
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Adopted this ~ day of ~ 2005
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ATTEST °'~` -~. ,~
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`~ Marty Hendry
City Secretary.
APPROVED
CITY COUNCIL
MAR - 1 2005
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City Secretary of the
City of Fort Worth, Texas