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CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />REGULAR MEETING <br />DECEMBER 18, 2017 <br />6:30 P.M. <br />AGENDA CATEGORY: <br />Consent Agenda <br />SUBJECT: <br />Finance - Contractual Incentive Payment for SMG (Cabarrus Arena) <br />BRIEF SUMMARY: <br />The contract between Cabarrus County and SMG, the operator of the <br />Cabarrus Arena and Events Center, includes annual incentive payments <br />based on quantitative and qualitative measurements, as well as food <br />sales volumes. The attached documents detail the calculations of the <br />incentive amounts. This document has been reviewed by Finance staff <br />and is in keeping with the contract. A budget amendment for the incentive <br />payments is also included with this agenda item. <br />REQUESTED ACTION: <br />Motion to approve the incentive payments and adopt the associated <br />budget amendment. <br />EXPECTED LENGTH OF PRESENTATION: <br />SUBMITTED BY: <br />Jonathan Marshall, Deputy County Manager <br />Susan Fearrington, Finance Director <br />BUDGET AMENDMENT REQUIRED: <br />Yes <br />COUNTY MANAGER'S RECOMMENDATIONS/COMMENTS: <br />This item was approved by the Board for inclusion on the Agenda as a <br />F-6 Page 84 <br />