Explanation
BACKGROUND: This legislation authorizes the Director of the Department of Development to enter into contract with Red, White & BOOM, Inc. to assist in mitigating the financial losses associated with the cancellation of Red, White & BOOM! in 2020 and 2021, and to help defray the costs associated with organizing, promoting and executing Red, White & BOOM! 2022.
Since its inception in 1981, Red, White and BOOM! has grown to be the largest Independence Day Celebration in the Midwest and has become an open, inclusive and FREE experience for hundreds of thousands of people from across Columbus and central Ohio. Historically, the day-long event attracts nearly a half million people to downtown Columbus, making it the largest single-day event in the city. It is a tradition that celebrates the diversity of our community, while honoring military veterans and those who serve our city, state and nation. Red, White & BOOM! generates more than $10 million in economic impact to central Ohio annually, and has generated more than $150 million over the last 20 years.
Red, White & BOOM! is presented by a nonprofit 501 (c) 3 organization, 92% privately funded with a volunteer board of directors. In 2020, Red, White & BOOM! was forced to cancel due to COVID-19 restrictions, but through creative planning, careful financial management and the support of presenting sponsors, the organization remained viable into 2021. The event was positioned to return and celebrate its 40th anniversary in 2021, but lingering public health concerns forced a delay, and after careful consideration the board of directors determined the best course of action was to postpone until 2022.
The City of Columbus has consistently provided financial support and served as an annual event sponsor for Red, White and BOOM! However, in 2020, the City was forced to reduce its financial support for the event. While the nonprofit organizers were able to remain solvent despite cancelling the event in 2020, ongoi...
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