Direct Visitor Spending. This category of Performance Measure is assigned a Weighted Percentage of 50%. The purpose of this Performance Measure is to determine direct visitor spending based industry standard multiplier models mutually agreed upon by Team San Xxxx and the City. The components of calculating this measure and the formula for applying the subject components to achieve a numerical result (the “Visitor Spending Matrix”) will be set forth on Schedule A-1 attached hereto, as amended from time to time during the Fiscal Year. Without limiting the generality of the foregoing, the components for calculating this measure shall include sales tax revenues arising from direct spending attributable to convention activity. Notwithstanding the foregoing, it is agreed that, for the first year of the Term, the matrix used by Destination Marketing Association International (“DMAI matrix”) will be used to calculate the Visitor Spending Matrix. In the event that Sports Economics matrix becomes available, City and Team San Xxxx may agree to substitute this for the DMAI matrix. APPROVED BUDGET CVB Budget Template Future year budgets will be filed with the Clerk’s Office. FY 2011 Actual Budget 2012 Forecast FY2012 Budget 2013 TOT Revenue 2,721,065 2,984,423 2,984,423 3,133,644 General Fund 1,075,452 554,369 554,369 ‐ Funded from Reserves 221,000 135,000 Fund 536 Transfer ‐ ‐ ‐ 500,000 Added Marketing $$ from Fund 536 400,000 Operating Revenue 267,109 329,157 194,535 294,597 Total Revenue 4,063,626 4,088,949 3,868,327 4,328,241 Sales 1,500,096 1,690,804 1,735,722 1,635,994 Marketing 716,899 648,589 703,942 610,256 Public Relations 228,784 235,338 248,632 283,988 Visitor Services 37,281 29,313 54,368 55,000 Support Staff 1,579,092 1,484,316 1,125,167 1,730,312 Total Expenses 4,062,152 4,088,360 3,867,831 4,315,550 Net Income <Loss> 1,474 589 496 12,691 INSURANCE REQUIREMENTS TEAM SAN XXXX, at TEAM SAN JOSE’S sole cost and expense, shall procure and maintain for the duration of this AGREEMENT insurance against claims for injuries to persons or damages to property which may arise from, or in connection with, the performance of the services hereunder by TEAM SAN XXXX, its agents, representatives, employees or subcontractors.
Direct Visitor Spending. This category of Performance Measure is assigned a Weighted Percentage of 50%. The purpose of this Performance Measure is to determine direct visitor spending based industry standard multiplier models mutually agreed upon by Team San Xxxx and the City. The components of calculating this measure and the formula for applying the subject components to achieve a numerical result (the “Visitor Spending Matrix”) will be set forth on Schedule B-1 attached hereto, as amended from time to time during the Fiscal Year. Without limiting the generality of the foregoing, the components for calculating this measure shall include sales tax revenues arising from direct spending attributable to convention activity. Notwithstanding the foregoing, it is agreed that, for the first year of the Term, the matrix used by Destination Marketing Association International (“DMAI matrix”) will be used to calculate the Visitor Spending Matrix. T-26492.001/1086127 133\1043977.14 EXHIBIT B-1 Visitor Spending Matrix Estimated Economic Impact Calculations Calculations for Estimated Economic Impact (EEI) are derived from applying formulas to attendance figure. For the onset of the term of this agreement, TSJ will utilize two calculators to calculate EEI based on the function-type of the event being calculated. The calculator developed on behalf of the Office of Economic Development (OED) by SportsEconomics of EEI at large public festivals and sporting events and a second calculator developed by DMAI for the valuation of EEI at conventions, tradeshows and meetings. The calculator used for each event will be based on the event type as entered into the EBMS database. The following key determines the calculator used at the start of this contract: Event Type Calculator Banquet / Reception DMAI Business to Business DMAI Concerts / Dances OED Conferences DMAI Consumer / Public Tradeshows DMAI Conventions DMAI Meetings DMAI Performing Arts OED
