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HomeMy WebLinkAbout2024-12-09 - Minutes -Fayetteville Advertising and Promotion Commission Minutes December 9th, 2024 Fayetteville Town Center Commissioners Present: Commissioners Absent: Staff: Chrissy Sanderson, Chair, Tourism & Hospitality Representative Elvis Moya, Tourism & Hospitality Representative (virtual) Mike Wiederkehr, City Council Representative Sarah Bunch, City Council Representative Katherine Kinney, Tourism & Hospitality Representative (virtual) Andrew Prysby, At Large Position Todd Martin, Tourism & Hospitality Representative Molly Rawn, CEO; Jennifer Walker, VP of Finance I. Chair Sanderson called the meeting to order at 2:00 pm and declared a quorum. II. Old Business A. Chair Sanderson asked if there were any corrections or additions to the minutes and hearing none, stated that the minutes stand as presented. B. Chair Sanderson then made a motion to add an agenda item related to CEO transition with CEO Rawn being newly elected as incoming Mayor. It was seconded by Commissioner Wiederkehr. III. New Business A. CEO Report CEO Rawn presented the 2025 A&P Commission meeting calendar, noting that the May meeting would be moved from the 4th to the 3rd Monday due to Memorial Day holiday. B. Vote. 2025 Budget Presentation. CEO Rawn began by covering 5 overarching items about the 2025 proposed budget: 1) We are projecting a 4% increase in HMR from our 2024 budgeted amount. 2) 8% personnel increase – relatively flat at EF, increases at FTC 3) $200,000 contribution to TheatreSquared 4) Significant capital expenditures of $1 Million to finish EF’s renovation and continue with needed upgrades at FTC 5) Presenting a balanced operating budget Rawn continued by showing in and outflows of $6,272,940 and some key changes for 2025. 1) Key events included Music Cities Activations, Party Animals and Cyclocross national championships 2) HMR Tax Increase has been budgeted with a 4% increase 3) FTC shows 8% increase in revenue and 600K in capital projects 4) Downtown – we will continue our $125,000 contract with the city, increasing the amount that flows directly to DFC 5) Personnel – market adjustments at FTC and 3% COLA She mentioned that the Cyclocross national championships will include a contract that can be funded by the Cyclocross legacy funds rather than our operating budget. The fund balance amounts were mentioned: our fund balance is approximately $6,322,000 with a $1,000,000 operating reserve. Capital reserve is currently depleted with the number of projects we have done and VP Walker shared that if the commission wanted to replenish the capital reserves, it could do that. CEO Rawn asked for questions concerning the presented budget. Commissioner Moya asked about funds for welcome signage work and Rawn said there was $10,000 in a specified line item for work on that, noting it would most likely be used for creative concept and design work. Rawn also noted that there are funds in Other Events Expenses for a 4th of July celebration if the team decides to do that. Commissioner Moya asked about the increase in the DFC line item and Rawn stated it was because more of the city grant was being allocated to DFC rather than EF, allowing DFC to pay for more of their operational expenses. Commissioner Moya requested a breakdown of DFC’s budget as an FYI and Rawn stated she could do that. A capital reserves discussion ensued with Commissioner Wiederkehr suggesting a 10 year rolling calendar of system upgrades so incoming staff and commissioners know when items needed to be replaced. VP Walker stated that this was a full spending capital plan and it was decided that this could be a project for our incoming CEO. With discussion on how much to fund our capital reserve, VP Walker recommended we first create our capital plan and then we can be better informed on capital reserve amounts and there was general agreement to go this route. With no more questions, Commissioner Sanderson asked for a motion to approve the 2025 budget. Commissioner Moya made the motion to do and it was seconded by Commissioner Prysby and was approved unanimously via a roll call vote. CEO Rawn asked if the commission could address the included 2025 Cyclocross Legacy Fund budget that was included in the packet. She stated that while it was not included in the operating budget, it would be helpful for the upcoming year. Commissioner Wiederkehr moved to approve the 2025 Cyclocross Legacy Fund budget as presented and this was seconded by Commissioner Prysby and was approved via a unanimous roll call vote. C. Vote. Furniture purchase for Experience Fayetteville Renovation. CEO Rawn stated that Amy Stockton secured three quotes from furniture companies and that this cost was included in the 2025 budget that was just approved. We would like to move forward with Innerplan, a company also located in downtown Fayetteville. You will note that we did not include a contingency as we normally do as we hope to get the total purchase under 160K. CEO Rawn reviewed the floor plan that this furniture would cover. Chair Moya asked if the other quotes were in line, price wise, with this quote and Rawn answered that when the quote was adjusted to reflect the amount of furniture we would need, and other factors, this quote was in line with the others. With no other questions, Chair Sanderson asked if we had a motion to authorize the CEO to accept the Innerplan Office Interiors’ quote and approve expenditures up to $163,779.30. Commissioner Prysby made the motion with Commissioner Wiederkehr seconding and it was approved unanimously via a roll call vote. . D. CEO Transition CEO Rawn began by stating she has worked for Experience Fayetteville for 8 years and has thoroughly enjoyed it. As she takes on the new role of Mayor, she plans to submit a resignation letter and that she would like to stay employed through January 1st and work with staff throughout the holidays. She has had conversations with VP Jennifer Walker about Walker serving as the Interim CEO and Walker is on board with this recommendation. VP Walker stated that she is not at this time interested in the role, but was happy to serve in this interim role. Chair Sanderson asked if there was a motion to approve VP Jennifer Walker as Interim CEO effective January 2, 2025. Commissioner Wiederkehr made the motion with Commissioner Prysby seconding it and it was approved unanimously via a roll call vote. CEO Rawn stated that it was her recommendation that she and Amy Stockton create a posting and timeline for the position and work with Chair Sanderson on that as Sanderson had volunteered for that. Commissioner Wiederkehr suggested we discuss using a hiring firm and it was decided that the staff and Chair Sanderson would begin a search process for a firm with the plan being to present a proposal at a special meeting to be called in early January. With no further announcements, there was a motion and a second by several commissioners to adjourn the meeting at 3:17pm. Minutes submitted by Amy Stockton, Director of Operations, Experience Fayetteville