Posted: October 27, 2023
Rapid City
Agenda Item Summary

Agenda Item Ref. #: LF110123-14

Agenda Item Title:

Authorize Mayor and Finance Officer to sign Agreement Between the Rapid City Sports Commission and the City of Rapid City Regarding Funding to Support the Commission’s Work

Origination Group:
Legal & Finance Committee
Origination Meeting Date:
City Council Hearing Date:
Rapid City Sports Commission
Staff Contact:
Joel Landeen, City Attorney
Agenda Item Summary:
The Rapid City Sports Commission is seeking financial partners to help support its mission and achieve its goals. It is currently seeking five entities within the community to pledge $125,000 over five years and become a group it is calling its Founding Five. During this year’s budget approval process it was brought up by members of the City Council that the City join this group and commit to funding the $125,000 over five years. Due to issues with committing funds in subsequent years, the City Council approved a budget amendment to pay $75,000 to the Sports Commission in 2024 with the understanding that the remaining $50,000 would be paid out in two disbursements of $25,000 in subsequent years. The attached agreement authorizes the City Finance Office to make the $75,000 payment in 2024 and will commit the City to paying the remaining $50,000 in 2025 & 2026, subject to the appropriation being authorized in future City budgets.

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center
Is Funding Budgeted?:
Funding Source & Fiscal Impact Notes:
During the adoption of the City’s 2024 budget, the Council approved the inclusion of $75,000 for the Sports Commission. If the Council approves this agreement, the Mayor has indicated that he would include the remaining payments of $25,000 each in his proposed budgets for 2025 and 2026.


Origination Recommendation Action:

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