SUBJECT:
Title
A Resolution of the Board of Trustees of the Town of Erie Approving a Sponsorship Agreement with Team Colorado Cycling
Body
DEPARTMENT: Economic Development
Responsible Department
PRESENTER(S): Julian Jacquin, Economic Development Director
Todd Stevenson, Team Colorado Cycling
First Name, Last Name, Title
FISCAL SUMMARY:
Cost as Recommended: $50,000
Balance Available: $0
Budget Line Item Number: 100-22-910-575140-000000
New Appropriation Required: Yes
POLICY ISSUES:
The key policy decision is whether to support Team Colorado Cycling in the sponsorship of various events and activities to be hosted at the Boulder Valley Velodrome at 601 Bonnell Avenue, Erie, CO 80516.
STAFF RECOMMENDATION:
Recommendation
Approve the Sponsorship Agreement with Team Colorado Cycling for the sponsorship of various events and activities.
End
SUMMARY AND BACKGROUND OF SUBJECT MATTER:
The Boulder Valley Velodrome (the “Velodrome”) opened at 601 Bonnell Avenue in Erie in the spring of 2015, at the northwest corner of E. County Line Rd. and Bonnell Ave. At its peak, the Velodrome had more than 450 annual members and 250 racers weekly. The original owners listed the Velodrome for sale in 2017, and the track has been closed to cyclists since the fall of 2019. Since that time, various groups have inquired about purchasing the Velodrome to raze the facility and develop housing or other business uses, but there has been a strong community response to save the Velodrome. A new team led by BVV Holdings LLC and Team Colorado Cycling (“Team Colorado”, a nonprofit) is now under contract to purchase the Velodrome, repair, and reopen the facility to cyclists, and host various events and activities for the Erie community.
In purchasing the Velodrome, Team Colorado wishes to host various events and activities at the Velodrome, such as movie nights, concerts, food truck festivals, free Erie community days, pickleball tournament(s), and criterium bike races. The Velodrome provides a unique location to hold these events until Erie Town Center is fully developed, and many of these events will be relocated to the public plazas and community green space at the Four Corners site in Town Center. This new plan for the Velodrome also enhances Town Center as a mixed-use entertainment destination and increases the demand for a new hotel in Erie.
Team Colorado hosted a press conference at the Velodrome on April 20, 2023, and several news media outlets authored articles covering this activity in the week following the press conference. More information can be found in the article linked below, with direct quotes from Economic Development Director Julian Jacquin and Town Administrator Malcolm Fleming:
• <https://coloradosun.com/2023/04/21/boulder-valley-velodrome-new-owners/>
• <https://www.dailycamera.com/2023/04/20/boulder-valley-velodrome-set-to-reopen-to-community-this-summer/>
Town staff recommends approving a Sponsorship Agreement (the “Agreement”) to sponsor these various events and activities to help create a positive impact on the Erie business community. The Agreement is set for a one-year term, through Dec. 31, 2023, and would automatically renew for four subsequent one-year terms, beginning on Jan. 1, 2024 (through Dec. 31, 2027). Team Colorado requested and staff proposes the amount of financial sponsorship provided to Team Colorado by the Town is up to $50,000 in 2023, 2024, and 2025, and reduces to $25,000 in 2026 and 2027. Funding would be provided upfront for each year, upon written request from Team Colorado. If any events are not held during that given year, Team Colorado would reimburse the Town for the financial value assigned to each event that is not held.
In return for the sponsorship, Team Colorado will plan and implement all the events listed in the Agreement and acknowledge the Town as a major sponsor for all events, with a link to the Town’s website on Team Colorado’s website, emails, and newsletters.
Board Priority(s) Addressed:
ü Attractive Community Amenities
ü Prosperous Economy
ü Small Town Feel
ü Effective Governance
ü Fiscally Responsible
Attachment(s):
1. Resolution 23-058
2. Sponsorship Agreement
3. Team Colorado Cycling Presentation
4. Team Colorado Cycling Bio
5. Todd Stevenson Resume