From
Max
Title
Revised Agreement and time extension with Global Gaming LSP, LLC for the Lone Star Park Logo on the Bowles Water Tower for an additional 5-year term at $600 monthly
Presenter
Gabe Johnson, Director of Public Works
Recommended Action
Approve
Analysis
The City and Lone Star Park, LTD entered into an advertising agreement on the 20th of November, 2003, providing for the placement of the Lone Star Park logo on the City’s Elevated Water Tank known as the Bowles Water Tower; and the agreement expired on November 20, 2011 and the City and Lone Star Park, LTD entered a new agreement effective November 13, 2012 which expires November 13, 2020.
Lone Star Park at Grand Prairie is the name under which Global Gaming LSP, LLC does business and Global Gaming has acquired Lone Star Park, LTD’s rights to contract with respect to the Lone Star Park logo. At the current time, the City and Lone Star Park desire to enter into a new advertising agreement to maintain the existing logo on the Bowles Water Tower.
The City shall maintain the Lone Star Park at Grand Prairie logo on the east and west face of its Bowles Park Water Tower throughout the term of this agreement as currently configured or changed as the parties may agree in the event that the tank is repainted during the term of this agreement. The City shall provide all advertising copy in a camera-ready format for insertion in racing programs during the term of this agreement.
Lone Star Park shall pay the City SIX HUNDRED DOLLARS ($600.00) each month during the term of this agreement for maintaining the Lone Star Park logo on the Bowles Water Tower. In addition, Lone Star Park shall provide: 1) Daily ¼ page advertisements in the Lone Star Today and the Bar & Book, 2) One 14” x 42” indoor backlit sign prominently located on the second floor of the grandstand near the escalator to be displayed during the term of this agreement, and 3) daily promotional messages on the Bar and Book message center boards...
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