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2.4 2.4 AGREEMENTS\Adirondack Race Management—OCCUPANCY TAX FUNDS—LG Triathlon—4-2-12 RESOLUTION AUTHORIZING AGREEMENT BETWEEN TOWN OF QUEENSBURY AND ADIRONDACK RACE MANAGEMENT RESOLUTION NO.: ,2012 INTRODUCED BY: WHO MOVED ITS ADOPTION SECONDED BY: WHEREAS, the Town of Queensbury has received a request for occupancy tax funding from Adirondack Race Management regarding the Lake George Triathlon Festival to be held on September 1St and 2nd, 2012 in the Towns of Lake George and Queensbury, and WHEREAS, such event is expected to draw approximately 1,500 participants and at least 4,000 supporters to the Towns of Lake George, Queensbury and the surrounding area's hotels and motels, restaurants, stores and other businesses, thereby benefiting the general economy of the Town and all of Warren County, and WHEREAS, by prior Resolution, the Queensbury Town Board provided for the Town's receipt of occupancy tax revenues from Warren County in accordance with the Local Tourism Promotion and Convention Development Agreement (Agreement) entered into between the Town and Warren County, and WHEREAS, the Agreement provides that specific expenditure of the funds provided under the Agreement are subject to further Resolution of the Queensbury Town Board, and WHEREAS, the Town Board wishes to provide funding to Adirondack Race Management in the amount of$5,000 with occupancy tax revenues received from Warren County, and WHEREAS, a proposed Agreement between the Town and Adirondack Race Management has been presented at this meeting, NOW, THEREFORE, BE IT RESOLVED, that the Queensbury Town Board hereby approves and authorizes funding to Adirondack Race Management regarding its Lake George Triathlon Festival and authorizes the Agreement between the Town and Adirondack Race Management substantially in the form presented at this meeting, and authorizes and directs the Town Supervisor to execute the Agreement, with funding not to exceed the sum of$5,000 and to be provided by occupancy tax revenues the Town receives from Warren County, to be paid for from Account No.: 050-6410-4412, and BE IT FURTHER, RESOLVED, that such Agreement is contingent upon the Town Budget Officer confirming that the Town has unallocated occupancy tax funds available from Warren County. Duly adopted this 2nd day of April, 2012, by the following vote: AYES NOES ABSENT: