Title
Contract with Collabor8 Advisors, LLC to develop sponsorships for city venues for a six-month term with the option to renew for up to five one-year terms
Presenter
Tom Hart, City Manager
Recommended Action
Approve
Analysis
The City is presently constructing "The Epic", "Epic Waters" and "Playgrand Adventures" as part of the Central Park development. These projects present an opportunity to allow sponsorships of the various components to offset the costs to taxpayers. Marcellette Sherman with Collabor8 Advisors, LLC has the ability to find sponsors and donors for the Central Park components as well as existing park venues such as Prairie Lights and Market Square events.
The proposed contract with Ms Sherman is for a six month term with a City option to renew for up to five one year terms. Ms Sherman will be paid $8,000 per month and receive a 12% commission on any new sponsorships that exceed a $500,000 collective threshold and a 6% commission on renewal sponsorships however; no commission shall be paid on sponsorships of PlayGrand Adventures. There are bonuses that the contractor will receive if threshold amounts of donations are received for Playgrand adventures.
RFP 17054 was advertised in the Fort Worth Star Telegram, Bid Sync, and distributed directly to 111 potential vendors. Staff received back two proposals, one of which was determined to be non-responsive as the vendor had no experience in the DFW market as required in the RFP. After evaluation of the proposals staff determined that the proposal submitted by Collabor8 Advisors, LLC offered the best value to the City and recommends award.
Financial Consideration
Funding for the base payments is available in FY 2016/2017 General Fund Budget from salary savings from various vacant positions within the City, the additional funding for commissions or bonuses will be paid once the sponsorship money has been received.