HomeMy WebLinkAbout(0007) IR 21-10618 - Extension of the Professional Services Agreement between the CFW and Visit FWINFORMAL REPORT TO CITY COUNCIL MEMBERS
No. 21-10618
To the Mayor and Members of the City Council August 3, 2021
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SUBJECT: EXTENSION OF THE PROFESSIONAL SERVICES AGREEMENT
rrA BETWEEN THE CITY OF FORT WORTH AND VISIT FORT WORTH
The purpose of this Informal Report is to notify the City Council of the one-year extension of the
Professional Services Agreement between the City and Visit Fort Worth.
The current agreement has been in place since 2013. It outlines the expectations for Visit Fort Worth to
promote and solicit events for the Fort Worth Convention Center, Will Rogers Memorial Center, and the
entire City of Fort Worth as a visitor and event destination. The agreement also outlines Visit Fort Worth's
funding from Culture and Tourism Funds. The amended agreement in 2018, which ends September 30,
2021, allows for the agreement to be extended for two additional one-year periods.
In the amended agreement, the funding portion of the agreement remains unchanged and all terms and
conditions are binding. The core marketing services provided by Visit Fort Worth, are funded through an
allocation of 47% of the 7% Hotel Occupancy Tax (HOT) collected in Fiscal 2022 up to the baseline, plus
incremental growth in HOT outside of the Project Finance Zone. Additionally, they receive incentive
funding of up to $790,000 for events to held at FWCC and WRMC, plus annual funding for The Herd.
The Key Performance Indicators (KPIs) in the agreement have been updated and focus on measures of
success for the organization's work to place events in the FWCC, WRMC, and to promote Fort Worth as a
visitor destination.
Staff s recommendation is to extend the agreement for FY2022, with the updated KPIs and to negotiate a
new agreement for FY2023 and beyond. FY2022 is expected to be a year where Fort Worth will see how
the local visitor economy recovers from the impact of the COVID-19 pandemic. Extending the current
agreement with VFW for this year will offer the opportunity to understand how this recovery impacts the
long-term contract negotiations. Until that time, the current agreement adequately addresses the services the
City requires from Visit Fort Worth.
If you have any questions or concerns related to this effort, please contact Michael Crum, Director of the
Public Events Department, at 817-392-2501.
David Cooke
City Manager
ISSUED BY THE CITY MANAGER
FORT WORTH, TEXAS