Title
Taste of Orland Park 2010
History
At the Village Board meeting of April 19, 2010, staff was directed to review revenues and expenditures to analyze the feasibility of eliminating the admission fee of $5 at the 2010 Taste of Orland Park. The 2010 budget included a revenue line item of $20,000 to be generated by this fee.
Following a thorough review of all Village revenues, it is recommended that this amount be off-set by permit fees that have exceeded projections by approximately $72,000. Some of those fees are also being utilized to fund the Buy Local Campaign - Automobile Dealers Business Association as indicated in the item on the May 3rd Finance Committee.
As requested, staff also reviewed the sponsorship information to-date. It is still early for sponsorships to come in and we anticipate that many of the sponsors from the 2009 event will again choose to sponsor and advertise at the Taste. Several new businesses opening in Orland Park this summer and fall have expressed interest in being a part of this event, but have not yet been confirmed. In 2009, the Village secured $30,450 in sponsorships, so as a conservative estimate, the budgeted revenue for 2010 was approved at $25,000. To-date, $14,810 has been committed for sponsorships leaving approximately $10,190 in revenue to be raised to meet budget expectations.
On May 3, 2010, this item was reviewed by the Community Events & Outreach Committee and referred to the Board.
Financial Impact
Reduction in Revenue by $20,000 with anticipated off-set by permit fees that exceeded budget expectations.
Recommended Action/Motion
I move to approve eliminating the admission charge for the 2010 Taste of Orland Park.