title
Request for Allocation of 2024 Budget Overage to the Thomas Dambo Sculpture Installation Project
body
Submitted by:
Beth Gleesing - Tourism Specialist
Department:
Administration
A. Issue
Staff is requesting that 2024 revenue received above and beyond the 2024 Tourism budget be allocated to the Thomas Dambo Sculpture Installation Project.
B. Background/Options
The City, in partnership with the Tourism Commission, has commissioned Mr. Thomas Dambo to create and install one of his re-cycle/up-cycle sculptures at Firefly Grove Park. The approved Thomas Dambo contract places the responsibility for building the steel framework of the sculpture along with the sculpture’s foundation on the city. Because the sculpture is being installed into a city public park and has a unique design incorporating recycled city assets, city staff has successfully worked with structural engineers to establish plans to safely build and install the required framework and foundation.
The resulting engineering recommendations require a framework stronger and more expensive to produce to support the weight of sculpture in line with the artist’s vision than ordinarily required. In the current climate, hard costs for critical components such as steel and concrete, as well as soft costs associated with the project such as travel and work visas are increasing. Final installation costs are continuing to come in and staff is still working to secure sponsors for the sculpture to offset installation costs.
Reallocating the excess revenue to the Thomas Dambo project instead of falling into Capital Reserves will allow for the ability to continue with the project. Fortunately, a reallocation of this kind will not deplete Capital Reserves. Once all costs associated with the installation are finalized if the reallocated funds are not required, they will fall into Capital Reserves upon project completion.
C. Strategic Plan (Area of Focus)
Priority Area 5: Quality of Life
D. Fiscal Impact
Staff is requesting an amount not to exceed $68,000 of excess hotel/motel tax revenue from 2024 be allocated to the Thomas Dambo Sculpture Installation project instead of allocated to Tourism Capital Reserves as standard policy would dictate. Unused funds will be redirected into Capital Reserves upon completion of the installation.
E. Recommendation
Staff is recommending the allocation of the requested funds allowing the art installation to proceed as planned.