Title
Discuss and consider action authorizing two City representatives to attend the Circuit of the Americas (CoTA), 2012 Formula 1 United States Grand Prix in Austin, Texas on November 16-18, 2012 to survey the event for economic development impact to the City of Pflugerville at an expense to the City not to exceed $1,800.
Summary
This item was discussed by the City Council at their meeting on September 25, 2012. Consideration was postponed in order to allow the City Attorney to acquire additional information.
The Circuit of The Americas (CoTA) is a new world-class motorsports and entertainment venue in Texas, located nine miles from Austin-Bergstrom International Airport and approximately 20 minutes away from the City. The venue is expected to draw hundreds of thousands of fans from all over the world and be seen by approximately 30 million television viewers across the globe for the FORMULA 1 UNITED STATES GRAND PRIX while also hosting dozens of high-profile motorsports, entertainment and business events each year. CoTA will also serve as a leader in sustainability as it relates to major event venues and motorsports, through high-performance operations, design, research, education and partnerships. CoTA-hosted events are projected to generate an annual economic impact of $400 million to $500 million, equating to $4 billion to $5 billion over 10 years for Texas. The CoTA-hosted FORMULA 1 UNITED STATES GRAND PRIX will attract as many as 300,000 people each Grand Prix weekend, with an estimated 80 percent of attendees coming from outside Texas. The City of Pflugerville is already involved in the multi-jurisdictional efforts to prepare for the impact of the three day event, including substantial pre-event activities.
Status
Consider action to select representatives and authorize attendance expense.
Deadline for City Council Action
If approved, action is necessary as many sections have already been sold out. Grandstand tickets are $800 per person, not including any other fees or transportation costs. Transportation options are by air and ground shuttle to/from the event.
Projected Future City Council Action
A post-event report by the attendees to the City Council will include: the methods the City can use to capitalize on the event to further stimulate economic development; consideration of the event's overall impact on the community; and, preparations necessary in future years in connection with public safety needs and other efforts in light of the regional impact of the event.
Fiscal Impact
Approval would authorize the expenditure of up to $1,800 in connection with the event.
Staff Recommendation
Discuss and take action as appropriate.
Drafter
George Hyde
City Attorney