CC MEETING: February 18, 2025
DATE: February 10, 2025
TO: Erin Rinehart, City Manager
FROM: Christopher Szymczyk, Economic Development Manager
Ravi Shah, Executive Director of Development
Shannon Hicks, Assistant City Manager
Title
Consider A Resolution Authorizing The City To Participate In The State Of Texas Events Trust Fund Program To Support A Request From LIV Golf Dallas For A Golf Event At The Maridoe Golf Course In June 2025, With A Local Funding Match From The City Of Carrollton In The Amount not to exceed $186,716.00.
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BACKGROUND:
The State of Texas established an Events Trust Fund (ETF) Program in 2015. It is administered by the Texas Comptroller of Public Accounts through the Economic Development and Tourism Office. The ETF program permits local governments and organizing committees to apply to the State for an event trust fund to help pay for certain costs associated with conducting events if all requirements of the Texas Local Government Code are met. The trust fund would be established for each event with an amount contributed by the State and local governments based on an estimated increase in tax receipts which would be generated as a result of the event. Tax receipts can be generated from sales and use taxes, hotel occupancy taxes, vehicle rental taxes, mixed beverage taxes and wholesale alcoholic beverage taxes.
The ETF program requires a local government match at a ratio of 1:6.25. In accordance with State
law, the State’s share cannot exceed 6.25 times the local (City) share. The total fund is the State’s
share plus the local share.
In September 2024, the City of Carrollton participated in the ETF program and agreed to pay the local share match of $85,926 for the LIV Golf Team Championships.
The City of Carrollton has received a request from Outlyr Inc. to participate in this program for the LIV Golf Dallas event at Maridoe Golf Course in June 2025. Based on an economic analysis conducted by Outlyr Inc., this event is estimated to generate $1,353,688 in tax receipts for the region. The requested local share match from the City is up to $186,716.00. The City of Carrollton will submit the local share match as required by State statutes and will be reimbursed fully by Outlyr Inc. in accordance with the Event Support Agreement.
FINANCIAL IMPLICATIONS:
Funding for the program would be provided through the General Facility and Capital Projects Fund
and the Strategic Community Investment program.
IMPACT ON COMMUNITY SUSTAINABILITY:
By participating in the program, the City continues its focus of being a place that the community calls “HOME” through creating partnerships and events which benefit the citizens.
STAFF RECOMMENDATION/ACTION DESIRED:
Staff recommends City Council consider a resolution authorizing the City to participate in the State of Texas Events Trust Fund Program for the LIV Golf Dallas event at the Maridoe Golf Course in June 2025.