Explanation
This legislation authorizes and directs Columbus City Council to enter into a grant agreement with FM2, LLC for the Fashion Meets Music Festival. The festival, which is held on Labor Day weekend, has provided Columbus, surrounding communities and Central Ohio with national and international attention by showcasing fashion and music, with renowned designers and musical artists. Fashion Meets Music Festival has been not been a profittable event for the past two years. The festival features bands performing in various spaces, food vendors, fashion shows, a Retail Marketplace for fashion vendors, and drew thousands of attendees over its three-day run. Based on the previous year’s attendance and projections by the organizers, visitor characteristics of similar festivals and typical visitor spending figures from Experience Columbus, Fashion Meets Music Festival will have a total impact on Central Ohio output of $5.6 million in 2015, rising to $11.8 million in 2019. Households and businesses will receive incremental earnings of $2 million rising to $4.6 million. The City of Columbus will receive income taxes and lodging taxes of $51,800 in 2015, rising to $120,100 by 2019.
In order to assist the marketing of this event to grow economic development in the City of Columbus and surrounding communities, Council deems it appropriate to allocate $25,000.00 to fund the marketing of Fashion Meets Music Festival from the Jobs Growth fund.
Title
To authorize City Council to enter into a grant agreement with FM2, LLC for the Fashion Meets Music Festival to promote art and music in the City of Columbus; to authorize the appropriation and expenditure of $25,000.00 from the Jobs Growth fund; and to declare an emergency. ($25,000.00)
Body
WHEREAS, during the Labor Day weekend, the Fashion Meets Music Festival held its celebration in the City of Columbus, drawing thousands of attendees; and
WHEREAS, Council deems it appropriate to enter into a one-time grant...
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