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May 5, 2008 <br />Mr. Jay White, Chairman <br />Boazd of Commissioners <br />Cabarrus County <br />65 Church Street <br />Concord, NC 28026 <br />Dear Chairman White, <br />As we approach the final months of SMG's third year of operating the Cabarrus Arena and Events <br />Center, I am pleased to report that we continue to '`meet or beat" all of the contract objectives. By all <br />accounts, the third year of the relationship between SMG and Cabarrus County has been the most <br />successful. Both the scale and the diversity of events hosted this year have helped us to achieve these <br />goals. <br />Attached for your review is SvIG's request for an amendment to the original management agreement. <br />This amendment would be the first to the original contract to date. <br />The amendment provides that SMG make a capital contribution that will allow the facility to increase its <br />inventory of food and beverage equipment. This equipment will improve the quality of food product and <br />provide additional ``points of sale" throughout the facility. Additionally, SMG seeks the County's <br />agreement to link a fee structure increase to the Consumer Price Index beginning in FY 2012. <br />Lastly, both SMG and the County wish to clarify language in the existing agreement "Records and <br />Audits" section to accurately reflect the desires of the County. Substitute language for section 6.1 has <br />been provided. <br />As always, we -look forward to continue our work with the County to provide a world class facility for <br />our clients and their guests. <br />Sincerely <br />/ Y~V <br />rank Laps ey <br />General Manager <br />P. O. Box 707 • Concord, NC 28026-0707 <br />4751 NC Hwy. 49 North • Concord, NC 28025 <br />Tel: 704/920-3976 • Fax: 704/920-3999 <br />www.cabarrusarena.com <br />1-'-~ <br />