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CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />AGENDA ITEM REQUEST <br />Meeting Date 12/17/07 <br />SUBJECT: <br />Agenda Item # G - ~ 3 <br />Cabarrus Arena and Events Center -Approval of Incentives to SMG for FY 07 in <br />Accordance with the Management Services Agreement and Food & Beverage Services <br />Agreement <br />BRIEF SUMMARY: <br />Based on the existing Management Agreement (Section 4) and the Food & Beverage <br />Agreement (Section 6), SMG qualifies for the following incentive payments: <br />Management Agreement: Quantitative Incentive Fee - $49,979.00; Qualitative Incentive <br />Fee - $22,563.00. <br />Food & Beverage Services Agreement: Quantative Incentive Fee - $30,984.00. <br />REQUESTED ACTION: (Suggested motion if the Board approves the agenda item as presented) <br />Motion to authorize payment of incentives totaling $103,526.00 to SMG for FY 2007 and <br />approve related budget amendment, as attached. <br />Attachments ^X Yes ^ No Expected Length of Presentation <br />Submitted By: Mike Downs -Deputy County Manager Date: 11/30/07 <br />Name /Job Title <br />Budget Amendment Required: ^X Yes ^ No <br />Budget Amendment Attached and Reviewed by Budget Officer: ^X Yes ^ No <br />County Manager's Recommendations/Comments: <br />This item was approved by the Board for inclusion on the Agenda as a Consent item. <br />Approval is recommended. <br />Action Taken: <br />Approved [ ] <br />Denied [ ] <br />Deferred [ ] <br />Other [ ] <br />