by Mike Sharkey
Staff Writer
The Gator Bowl Association is going to get the $430,000 it needs to pay the ACC for the ticket sales shortfall from last year’s ACC title game, but half of the money may not come from the City.
At Monday’s City Council Finance Committee meeting, the committee agreed to pay for $215,000 and will ask the Tourist Development Council to pick up the other $215,000. The idea to split the cost was broached by Finance member Daniel Davis, a former Council president and thus, a former chair of the TDC.
Janice Billy of the Council Auditor’s Office said the balance on the TDC’s contingency account currently stands at about $3 million.
“I would suggest that we split the amount with the TDC,” said Davis, whose amendment to the legislation passed 5-1, with only Finance member Clay Yarborough voting against it.
“I can’t support this,” said Yarborough. “I think the City has already done its share.”
Davis said because the hotels are involved with the TDC through bed taxes, they understand how important the GBA is and the games the organization brings to town.
The GBA needs the funding to make up for slow ticket sales for the Boston College-Virginia Tech game in early December of last year. According to a spread sheet provided by the Council Auditor’s Office, the ticket sales guarantee to the ACC was $5.4 million. However, gross revenue from ticket sales was $3,480,345. Between the GBA, the City and the TDC, $1.25 million was pooled together to make up the difference, leaving an actual shortfall of $699,655.
Davis said the current TDC chair, Council President Ronnie Fussell, could ask for an emergency TDC meeting to approve the funding. However, GBA President Rick Catlett said that’s not necessary.
“I don’t think it’s an issue,” said Catlett. “You don’t need an emergency meeting, just a regular TDC meeting.”
The TDC next meets in January and Catlett will have to submit an application for the funding.
Finance Chair Michael Corrigan said the ACC title game was always a partnership between the City, the GBA and the TDC.
“I think they (the TDC) will be understanding and supportive,” said Corrigan, a former Council president and TDC chair. “I was chair of the TDC at the time the deal was created. We took a gamble on a great event.”
The first Dr. Pepper ACC title game paired Florida State and Virginia Tech and was a near sellout. The next year, ticket sales dropped when Georgia Tech and Wake Forest played in terrible weather.
“This is not about just a football game, but it’s about an economic opportunity we took a risk on,” said Fussell.
Also from the Finance meeting, a bill that would amend the City’s corrections officers’ retirement plan was deferred. The bill would have allowed the officers to retire after 20 years with a 3 percent cost of living adjustment beginning this month retroactive to those who retired on or after Dec. 1, 2006. However, the Finance Committee had several issues and questions that couldn’t be addressed.
Yarborough pointed out — per the City’s Ordinance Code — that the legislation was supposed to be filed by Oct. 31. However it was introduced to Council by the mayor’s office Nov. 10. Peggy Sidman of the Office of General Counsel said it was late because the “legislation was not ready” by Oct. 31.
Yarborough also pointed out the Ordinance Code requires the pension fund to be generating 90 percent return on investment. The current return is at about 70 percent.
Finance member Stephen Joost said he couldn’t support the bill as it’s written because of the current economic conditions and the guarantees within the language of the bill.
“The three pensions (general employee, police and fire and corrections officers) are the 800-pound gorilla in the closet,” said Joost, adding he wants to know the City’s current economic situation before moving forward with the bill.
“If this was a new pension bill, it would have never gotten this far into discussion,” said Corrigan. “There are too many questions.”
356-2466