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Home My WebLink About16483 1 RESOLUTION NO. 16,483 2 3 A RESOLUTION TO AUTHORIZE THE CITY MANAGER TO ENTER 4 INTO AN AGREEMENT WITH THE LITTLE ROCK CONVENTION AND 5 VISITORS BUREAU FOR THE CONTINUED MANAGEMENT AND 6 OPERATION OF THE LITTLE ROCK RIVER MARKET FOR A TWELVE 7 (12)-MONTH PERIOD BEGINNING JANUARY 1,2025;AND FOR OTHER 8 PURPOSES. 9 10 WHEREAS,the City of Little Rock, Arkansas ("City"), owns the Little Rock River Market, 11 which includes the River Market Ottenheimer Hall and related facilities including the First 12 Security Amphitheatre,the pavilions surrounding Ottenheimer Hall and Park Access areas defined 13 as the Triangle and the West Lot, and which is operated as a public venue and tourist attraction; 14 and, 15 WHEREAS,the City and the Little Rock Advertising and Promotion Commission,d/b/a Little 16 Rock Convention and Visitors Bureau ("LRCVB") have partnered together to manage public 17 facilities and LRCVB brings a significant support structure to these City-owned facilities; and, 18 WHEREAS, a River Market Memorandum of Understanding Management Agreement 19 between the City and LRCVB is requested for 2025; and, 20 WHEREAS, the City believes that a successful operating agreement can be reached that 21 further enhances the public value of the Little Rock River Market. 22 NOW,THEREFORE,BE IT RESOLVED BY'flit+!BOARD OF DIRECTORS OF THE CITY 23 OF LITTLE ROCK,ARKANSAS: 24 Section 1.The City Manager is authorized to enter into a twelve(12)-month Agreement with LRCVB 25 for the management and operation of the Little Rock River Market, which shall mean the River Market 26 Ottenheimer Hall and related facilities including the First Security Amphitheatre,the pavilions surrounding 27 the Ottenheimer Hall and Park Access areas defined as the Triangle and the West Lot. 28 Section 2. Any such agreement shall include the following terms and conditions: 29 (a) The City and LRCVB will initiate the agreement effective no later than January 1, 2025; the 30 agreement shall be for the management and operation of the Little Rock River Market;and, 31 (b) The City will match LRCVB's contribution of Three Hundred Fifty Thousand Dollars 32 ($350,000.00)for the operation and maintenance of this facility in Fiscal Year 2025,and funds are available 33 from the River Market Budget Line Item,Account No. 104601;and, [Page 1 of 2] 1 (c) The City shall reimburse LRCVB a monthly amount of Ten Thousand Dollars ($10,000.00) for 2 indirect costs of Administration,Accounting, Human Resource Services and General Property Marketing 3 and Management Expenses associated with the operation of the River Market;and, 4 (d) The Agreement shall honor the long-term partners and users as agreed to by the City and LRCVB. 5 Section 3.Severability.In the event any title,section,paragraph,item,sentence,clause,phrase,or word 6 of this resolution is declared or adjudged to be invalid or unconstitutional,such declaration or adjudication 7 shall not affect the remaining portions of the resolution which shall remain in full force and effect as if the 8 portion so declared or adjudged invalid or unconstitutional was not originally a part of the resolution. 9 Section 4. Repealer. All resolutions, bylaws, and other matters inconsistent with this resolution are 10 hereby repealed to the extent of such inconsistency. 11 ADOPTED: November 4,2024 12 ATTEST: APPROVED: 13 14 MUAKVI 15 Allison Segars,Ac ity Clerk rank Scott, r., ayur- 16 APPROVED AS T i EGAL FORM: 17 e 18 i:f7iI'ff.P. / 19 L ette Perez drir f Deputy City Attorney 20 // 21 // 22 // 23 // 24 // 25 // 26 // 27 // 28 // 29 // 30 // 31 // 32 // 33 // 34 // 35 // 36 // [Page 2 of 2]