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| Board of Directors Regular Meeting Agenda |
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| SUBJECT MATTER: |
| Receive, consider and act upon an Interlocal Agreement between The Woodlands Township and Montgomery County, Texas, regarding a grant application to the Events Trust Fund established by the Office of the Governor – Economic Development and Tourism Office (C-2025-0066); |
| FISCAL IMPACT: |
| Up to $88,336.56 funded from the Hotel Tax Reserve which currently has a balance of $8.7 million. |
| BACKGROUND: |
The Chevron Championship LGPA golf tournament is applying for a grant from the Texas Events Trust Fund established by the Office of the Governor – Economic Development and Tourism for its event scheduled for April 24 – 27, 2025 at The Club at Carlton Woods in The Woodlands. The amount of the grant is based on a percentage of the economic impact to The Woodlands area due to the event being held at this location. For the 2025 tournament, the projected economic impact totals $16.1 million. Based on that amount and in accordance with the terms of the Events Trust Fund, The Chevron Championship is eligible to receive a grant of up to $640,440.07. Of that amount, $552,103.51 (86.2%) is funded by the State of Texas and the remaining $88,336.56 (13.8%) is funded through a local match by the Township.
The Chevron Championship is required to have a local entity submit the application to the Events Trust Fund on their behalf along with a commitment from the local entity to provide the local match. As a special purpose district, The Woodlands Township is not a local entity eligible to submit the application. Therefore, The Chevron Championship and the Township have asked Montgomery County to do so. Montgomery County has agreed with the stipulation that an Interlocal Agreement (ILA) be executed between the County and the Township stating the Township will provide the required local match.
The process outlined above is the same process that was used last year in relation to The Chevron Championship golf tournament held in April 2024. The ILA approved by the Board for the 2024 event is attached for review. The Montgomery County District Attorney’s Office is currently drafting a similar agreement with the revised dates and amounts outlined in the preceding paragraphs. Montgomery County Commissioners Court will act upon submission of the grant application to the Events Trust Fund and the related ILA at its meeting scheduled for November 19 or December 3, 2024. |
| RECOMMENDATION: |
| Authorize the President/Chief Executive Officer to execute an Interlocal Agreement with Montgomery County, Texas, as approved in final form by Township legal counsel regarding an Office of the Governor Economic Development and Tourism Grant for The Chevron Championship LPGA Golf Tournament to be held in April 2025 in The Woodlands, Texas, and fund the required local match in an amount not to exceed $88,336.56 from the Hotel Tax Reserve.
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