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F.-2. <br />CABARRUS COUNTY <br />BOARD OF COMMISSIONERt,REGULAR MEETINGNovember 19,20186:30 PM <br />AGENDA CATEGORY: <br />Consent Agenda <br />SUBJECT: <br />Fi nance - Contractual I ncentive Payment for S M G (Cabarrus Arena) <br />BRIEF SUMMARY: <br />The contract between Cabarrus County and SMG, the operator of the Cabarrus Arena and <br />Events Center, includes annual incentive payments based on quantitative and qualitative <br />measurements, as well as food sales volumes. The attached documents detail the <br />calculations of the incentive amounts. This document has been reviewed by Finance and <br />County Manager staff and is in keeping with the contract. A budget amendment for the <br />incentive payments is included with this agenda item. <br />REQUESTED ACTION: <br />Motion to approve the incentive payments and adopt the associated 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 Consent item. <br />Page 94 <br />