TO: Urban Renewal Agency Board
THROUGH: Steve Powers, Executive Director
FROM: Kristin Retherford, Urban Development Director
SUBJECT:
title
Extension of the Salem Convention Center Management Agreement.
Ward(s): Ward 1
Board Member(s): Kaser
Neighborhood(s): CANDO
Result Area(s): Strong and Diverse Economy
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ISSUE:
Should the Agency Board authorize the extension of Convention Center Management Agreement through September 3, 2020?
RECOMMENDATION:
recommendation
Authorize the Executive Director to execute the attached Amendment to the Convention Center Management Agreement to extend the term through September 3, 2020.
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SUMMARY:
The current agreement terminates March 3, 2020. The Urban Renewal Agency and The Salem Group, LLC (Manager) have been negotiating terms for a new agreement but are not able to complete negotiations prior to the expiration date. An extension of the Agreement through September 3, 2020 will allow time to finalize negotiations and revisions to a new agreement for consideration by the Urban Renewal Agency Board.
FACTS AND FINDINGS:
The Convention Center has operated successfully in the black since beginning operations in March 2003 and has been a benefit to the City and downtown. The Urban Renewal Agency’s partnership with the Manager and the Manager’s operation of the Convention Center support a new agreement between the Urban Renewal Agency and the Manager.
BACKGROUND:
In July 2003 the Urban Renewal Agency and the Manager entered into a management agreement (Attachment 1) for the Salem Convention Center. Staff recommends the Agreement be amended (Attachment 2) to allow additional time to complete negotiations and drafting of a new agreement.
Kristin Retherford
Urban Development Director
Attachments:
1. Agreement
2. Amendment to Extend the Term of the Agreement