HomeMy WebLinkAboutIR 24-1900INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 24-1900
To the Mayor and Members of the City Council September 24, 2024
haT�A
Page 1 of 1
F� -1
r�rn SUBJECT: AMENDMENT TO CITY CONTRACT WITH VISIT FORT WORTH TO
107S FUND CAPITAL PROJECTS TO SUPPORT THE FORT WORTH HERD
The purpose of this Informal Report is to provide the City Council with an overview of an upcoming
proposal to amend the City's agreement with Visit Fort Worth (VFW) to include funding for capital
improvement projects to benefit The Fort Worth Herd equestrian facilities in The Stockyards.
The Fort Worth Herd produces a twice -daily longhorn cattle drive in the Fort Worth Stockyards that
celebrates Fort Worth's western heritage and lifestyle. Created in 1999, the organization today is
managed as a subsidiary of Visit Fort Worth. The City funds The Herd's $1.7M operating budget through
its contract with Visit Fort Worth. The source of funding for The Fort Worth Herd is the Culture and
Tourism Fund.
To assure the welfare of The Fort Worth Herd's horses and livestock until new facilities can be developed
as part of the second phase of development for the Stockyards, the City would amend its contract with
VFW to fund a public -private partnership to make necessary capital improvements to both the equestrian
and livestock facilities that will buy time until the new facilities are constructed.
The proposal contemplates that the City would fund $400,000 in improvements to The Fort Worth Herd's
horse barn facilities located at 2500 N. Houston St., to include covered horse stalls, an operations trailer,
security cameras, horse therapeutic equipment, and washrack. The source of funding for these projects is
a portion of the City's share of profits from the operation of Cowtown Coliseum.
Through Friends of the Fort Worth Herd, the private
livestock facilities located at 129 E. Exchange St., to
improvements, and repairs to fences, gates, and holding
sector would fund $177,200 in improvements to
include on -site covered horse stalls, ventilation
areas.
Through the capital match program that is part of the current City -VFW contract, the parties would jointly
fund the $220,000 necessary to replace the City -owned vehicles and trailers that have been in use since
2010.
An amendment to the City's contract with Visit Fort Worth, which runs through FY27, has been drafted and
will be executed upon City Council approval (currently projected for November). Visit Fort Worth will then
move forward with the described capital projects upon execution of the agreement.
If you have any questions or concerns related to this report, please contact Michael Crum, Director of
Public Events, at 817-392-2501.
David Cooke
City Manager
ISSUED BY THE CITY MANAGER
FORT WORTH, TEXAS