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Home My WebLink AboutPACKET Town Board Study Session 2008-06-10t WORK SESSION TOWN BOARD Tuesday, June 10, 2008 5:00 p.m. to 7:00 p.m. Rooms 201/202/203 170 MacGregor Avenue AGENDA 1. Local Marketing District IGA and Potential Transition Strategies % Cynthia Deats From: EP Administration [ir3045@estes.org] Sent: Friday, June 06, 2008 12:22 PM To: Cynthia Deats Subject: Job Done Notice(Send) ***************************** *** Job Done Notice(Send) *** ***************************** JOB NO. 0379 ST. TIME 06/06 12:00 PGS. 1 SEND DOCUMENT NAME TX/RX INCOMPLETE ----- TRANSACTION OK 6672527 Greg White 5869561 KEPL 5869532 Trail Gazette 5861691 Channel 8 6353677 Reporter Herald 2247899 Coloradoan 5771590 EP News ERROR 5866336 Chamber of Commerce 1 Alt: I 29-25-105 (2) The petition shall be signed by persons who own commercial real property in the service area of the proposed district having a valuation for assessment of not less than fifty percent of the valuation for assessment of all commercial real property in the service area of the proposed district. The petition shall set forth: (a) The name of the proposed district, which shall include a descriptive name and the words "local marketing district"; (b) A general description of the boundaries and service area of the proposed district; (c) A general description ofthe types of services to be provided by the proposed district; (d) The names of three persons to represent the petitioners, who have the power to enter into agreements relating to the organization of the district; and (e) A request for the organization ofthe district. LOCAL MARKETING DISTRICT Petition Process FAQ's 1. What is a local marketing district? A local marketing district (LMD) is an organization formed for the purpose of advertising, marketing and promoting tourism within its service area. 2. Whv do we need a LMD? The Estes Park area currently does not have a dedicated funding source for advertising and tourism promotion. Each year the Town Board decides if it is going to budget funds for advertising. If funds are budgeted, they come from the Town's General Fund. The General Fund also pays for police, fire, public works, parks, planning, Town administration, special events, and other Town functions. Demand for funding of all these services continues to grow faster than General Fund revenues. If for some reason the Town Board was to change its opinion of advertising or the General Fund suffers a short fall, then the Town Board may elect to significantly reduce funding for advertising. A local marketing district guarantees that a dedicated funding source will be available to advertise, promote, and market the Estes Park area. 3. How do you go about starting a LMD? First a petition needs to be signed by owners o f 50% of the commercial real property located within the proposed LMD area. After receipt of a signed petition, the Town Board and Larimer County Commissioners will then hold two public hearings to receive public input on the formation of the LMI) as requested by the Petition. Following the two public hearings, if the Town Board and the Larimer County Commissioners decide to form the LMD, the Town and the County will enter into an Intergovernmental Agreement organizing the LMD. Formation ofthe LMD by the Intergovernmental Agreement then is required to be approved by a vote of the registered electors residing within the area of the LMD 4. What will the District boundaries be? The Estes Park LMD will include the Town of Estes Park and the surrounding area. The LMD will not include Boulder County or any Front Range communities. 5. Who is going to run the LMD? Under the State Statute that allows LMDs, the Town Board and Larimer County Commissioners are responsible for organizing the LMD. The Town Board and County Coinmissioners will appoint a local Board of Directors with representatives from both the incorporated and unincorporated areas to operate the LMD. 6. How will the LMD be funded? The petition for the formation ofthe District states that funding ofthe LMD will be collected from an additional 2% sales tax on the purchase price paid or charged to persons for rooms or accommodations within the area ofthe LMD. This 2% additional sales tax will only be collected within the service area of the LMD after approval at an election by the registered electors residing within the service area ofthe LMD. The formation ofthe District and the marketing and promotion tax (2%) shall be voted on at the same election. The tax will be collected by the State of Colorado's Department of Revenue as all sales taxes are now collected, and following collection, be transferred directly to the LMD. These tax monies will not go to the Town or Larimer County. 7. When and how is the new lodging tax money going to be spent? If voters in the LMD approve the formation of the District and the 2% marketing and promotion tax, it is estimated that approximately $1 million dollars will be collected in its first year. If approved at the November 2008 election, the new tax will begin being collected in January of 2009. The Town Board will continue to fund the 2009 advertising campaign from the Town's General Fund while the new LMD Board is appointed and begins working on its Operating Plan. Under the state statute, the LMD Board will have until September 30,2009 to submit its Operating Plan for 2010 to the Town Board and County Commissioners. The Boards will have thirty (30) days to approve the Operating Plan, or return it for revisions. Based on the time of year that our advertising needs to be placed, the current advertising committee will continue to plan and direct the advertising program through 2009. The new LMD Board of Directors will be appointed in early 2009 and begin its planning for the September deadline for the new Operating Plan. This will ensure a seamless transition from the old committee to the new Board. The plan is to have one year' s revenue in the LMD coffers and then to always be working with monies that have been collected the year before. This will give the LMD a solid budget for each year regardless of economic ups and downs. 8. What happens to the old money? The Town is not going away. The Town will continue to fund the Fairgrounds, Events, Conference Center, Performance Park and the Salaries for the CVB. This will ensure that every dollar collected from the new lodging tax will be spent on marketing the Estes Park Local . ! 'j Marketing District. The Town Board has committed to take the moneys that are currently ear I marked for advertising that will be replaced by the LMD funds and invest in the infrastructure of the community. Projects that are currently projected to receive the additional funding include - improving the Fairgrounds at Stanley Park to a year around entertainment and event facility, expanding and improving the shuttle system, and additional improvements to the regional trails system. 9. What is the timing if we go forward? The process for collecting signatures on the Petition is starting. The Petition is attached. After owners of 50% of the commercial real estate in the LMD have signed, then the Town and County Clerks will verify those signatures. Following the required public hearings and adoption of the Intergovernmental Agreement organizing the LMD, the formation of the LMD and the marketing ' and promotion tax will appear on the 2008 General Election ballot on November 4,2008. If voters approve the formation of the LMD and the marketing and promotion tax, then collections f will begin in January 2009. The new LMD Board will be seated in early 2009 and will assume marketing responsibilities by implementing the Operating Plan for the LMD in 2010. 10. What role will the Convention & Visitors Bureau provide? The Convention & Visitors Bureau was created by the Town Board in 2003 to provide an integrated, comprehensive advertising program. CVB staff with offices at the Visitors Center i handle all communication functions (print and electronic advertising, public relations), visitor services, group sales, and stakeholder services. Two business advisory committees oversee operations conducted by staff at the Visitors Center who are responsible for those activities. After formation ofthe new Local Marketing District, the Town Board will determine the role of the CVB advisory Board and staff currently working from offices located in the Visitors Center facility. It is anticipated that the Town Board will not want to duplicate efforts undertaken by the LMD, although it will work to ensure that the community retains an integrated, comprehensive advertising program. The Town Board will work closely with the Local Marketing District Board to define each organization's role. 11. What role will The Chamber of Commerce provide? The Chamber of Commerce is a member-based business to business organization that creates programs and offers training to support its members. It is hoped that the Chamber will continue to develop membership through strong business leadership and work with the LMD to promote Estes Park. Att: I 29-25-105 (2) The petition shall be signed by persons who own commercial real property in the service area of the proposed district having a valuation for assessment of not less than fifty percent of the valuation for assessment of all commercial real property in the service area of the proposed district. The petition shall set forth: (a) The name of the proposed district, which shall include a descriptive name and the words "local marketing district"; (b) A general description of the boundaries and service area of the proposed district; (c) A general description of the types of services to be provided by the proposed district; (d) The names of three persons to represent the petitioners, who have the power to enter into agreements relating to the organization of the district; and (e) A request for the organization of the district. LOCAL MARKETING DISTRICT Petition Process FAQ's 1. What is a local marketing district? A local marketing district (LMD) is an organization formed for the purpose of advertising, marketing and promoting tourism within its service area. 2. Whv do we need a LMD? The Estes Park area currently does not have a dedicated funding source for advertising and tourism promotion. Each year the Town Board decides if it is going to budget funds for advertising. If funds are budgeted, they come from the Town's General Fund. The General Fund also pays for police, fire, public works, parks, planning, Town administration, special events, and other Town functions. Demand for funding of all these services continues to grow faster than General Fund revenues. If for some reason the Town Board was to change its opinion of advertising or the General Fund suffers a short fall, then the Town Board may elect to significantly reduce funding for advertising. A local marketing district guarantees that a dedicated funding source will be available to advertise, promote, and market the Estes Park area. 3. How do you go about starting a LMD? First a petition needs to be signed by owners of 50% of the commercial real property located within the proposed LMD area. After receipt of a signed petition, the Town Board and Larimer County Commissioners will then hold two public hearings to receive public input on the formation of the LMD as requested by the Petition. Following the two public hearings, ifthe Town Board and the Larimer County Commissioners decide to form the LMD, the Town and the County will enter into an Intergovernmental Agreement organizing the LMD. Formation ofthe LMD by the Intergovernmental Agreement then is required to be approved by a vote ofthe registered electors residing within the area of the LMD 4. What will the District boundaries be? The Estes Park LMD will include the Town of Estes Park and the surrounding area. The LMD will not include Boulder County or any Front Range communities. 5. Who is going to run the LMD? Under the State Statute that allows LMDs, the Town Board and Larimer County Commissioners are responsible for organizing the LMD. The Town Board and County Commissioners will appoint a local Board of Directors with representatives from both the incorporated and unincorporated areas to operate the LMD. 6. How will the LMD be funded? The petition for the formation ofthe District states that funding of the LMD will be collected from an additional 2% sales tax on the purchase price paid or charged to persons for rooms or accommodations within the area ofthe LMD. This 2% additional sales tax will only be collected within the service area of the LMD after approval at an election by the registered electors residing within the service area ofthe LMD. The formation ofthe District and the marketing and promotion tax (2%) shall be voted on at the same election. The tax will be collected by the State of Colorado's Department ofRevenue as all sales taxes are now collected, and following collection, be transferred directly to the LMD. These tax monies will not go to the Town or Larimer County. 7. When and how is the new lodging tax monev going to be spent? If voters in the LMD approve the formation of the District and the 2% marketing and promotion tax, it is estimated that approximately $1 million dollars will be collected in its first year. If approved at the November 2008 election, the new tax will begin being collected in January of 2009. The Town Board will continue to fund the 2009 advertising campaign from the Town's General Fund while the new LMD Board is appointed and begins working on its Operating Plan. Under the state statute, the LMD Board will have until September 30,2009 to submit its Operating Plan for 2010 to the Town Board and County Commissioners. The Boards will have thirty (30) days to approve the Operating Plan, or return it for revisions. Based on the time of year that our advertising needs to be placed, the current advertising committee will continue to plan and direct the advertising program through 2009. The new LMD Board of Directors will be appointed in early 2009 and begin its planning for the September deadline for the new Operating Plan. This will ensure a seamless transition from the old committee to the new Board. The plan is to have one year' s revenue in the LMD coffers and then to always be working with monies that have been collected the year before. This will give the LMD a solid budget for each year regardless of economic ups and downs. 8. What happens to the old money? The Town is not going away. The Town will continue to fund the Fairgrounds, Events, Conference Center, Performance Park and the Salaries for the CVB. This will ensure that every dollar collected from the new lodging tax will be spent on marketing the Estes Park Local Marketing District. The Town Board has committed to take the moneys that are currently ear marked for advertising that will be replaced by the LMD funds and invest in the infrastructure of the community. Projects that are currently projected to receive the additional funding include improving the Fairgrounds at Stanley Park to a year around entertainment and event facility, expanding and improving the shuttle system, and additional improvements to the regional trails system. 9. What is the timing if we go forward? The process for collecting signatures on the Petition is starting. The Petition is attached. After owners of 50% o f the commercial real estate in the LMD have signed, then the Town and County Clerks will verify those signatures. Following the required public hearings and adoption of the Intergovernmental Agreement organizing the LMD, the formation of the LMD and the marketing and promotion tax will appear on the 2008 General Election ballot on November 4,2008. If voters approve the formation of the LMI) and the marketing and promotion tax, then collections i will begin in January 2009. The new LMD Board will be seated in early 2009 and will assume marketing responsibilities by implementing the Operating Plan for the LMD in 2010. 10. What role will the Convention & Visitors Bureau provide? The Convention & Visitors Bureau was created by the Town Board in 2003 to provide an integrated, comprehensive advertising program. CVB staff with offices at the Visitors Center handle all communication functions (print and electronic advertising, public relations), visitor services, group sales, and stakeholder services. Two business advisory committees oversee operations conducted by staff at the Visitors Center who are responsible for those activities. After formation o f the new Local Marketing District, the Town Board will determine the role of the CVB advisory Board and staff currently working from offices located in the Visitors Center facility. It is anticipated that the Town Board will not want to duplicate efforts undertaken by the LMD, although it will work to ensure that the community retains an integrated, comprehensive advertising program. The Town Board will work closely with the Local Marketing District Board to define each organization's role. 11. What role will The Chamber of Commerce provide? The Chamber of Commerce is a member-based business to business organization that creates programs and offers training to support its members. It is hoped that the Chamber will continue to develop membership through strong business leadership and work with the LMD to promote Estes Park. , 24-05--los- . 1. ' 0 ===LL, (3) After receipt of a petition under this section, any local government by ordinance or resolution, or any combination by contract, may create a district that is authorized to exercise the functions conferred by the provisions ofthis article. Upon creation, the district shall constitute a separate political subdivision and body corporate of the state and shall have all the duties, privileges, immunities, rights, liabilities, and disabilities of a public body politic and corporate. (4) Any contract, ordinance, or resolution establishing a district shall specify: (a) The name and purpose ofthe district; (b) Voting requirements for district elections; (c) Subject to the provisions of section 29-25-108, if a governing body of a single local 1 government is not creating the district, the establishment and organization of the board of directors in which alllegislative power ofthe district is vested, including: (D The number of directors, which shall be at least five; (ID The manner of the election or appointment, the qualifications, and the compensation, if any, ofthe directors and the procedure for filling vacancies; (III) The officers ofthe district, the manner oftheir appointment, and their duties; and (IV) The voting requirements for action by the board; except that, unless specifically provided otherwise in the contract, a majority ofthe directors of the board constitutes a quorum and a majority of the board is necessary for action by the board; (d) The provisions for the distribution, disposition, or division of the assets of the district; (e) The boundaries of the district, which may not include territory outside of the boundaries of the local government that creates the district. If created by a combination, such a district may not include territory within the boundaries of a municipality that is not a member of the combination, as the boundaries of the municipality exist on the date the district is created, without the consent of the governing body of such municipality and may not include territory within the unincorporated boundaries of a county that is not a member of the combination as the unincorporated boundaries of the county exist on the date the district is created without the consent of the governing body of such county; (f) The term of the district, which may be for a definite term or until repealed, rescinded, or terminated, and the method, if any, by which it may be repealed, rescinded, or terminated; except that the district or any ordinance, resolution, or contract under which it was organized may not be repealed, terminated, or rescinded so long as the district has bonds outstanding; (g) If created pursuant to contract, the provisions for amendment of the contract; (h) The limitations, if any, on the powers granted by this article that may be exercised by the district pursuant to this article; and (i) If created pursuant to contract, the conditions required when adding or deleting parties to the contract. . (5) No local government shall adopt an ordinance or resolution or enter into a contract establishing a district without holding at least two public hearings thereon in addition to other requirements imposed by law for public notice. The local government shall give notice of the time, place, and purpose of the public hearing by publication in a newspaper of general circulation in the local government at least ten days prior to the date of the public hearing. (6) No ordinance, resolution, or contract establishing a district pursuant to this section shall take effect unless first submitted to a vote of the registered electors residing within the boundaries of the proposed district. The question of establishing the district shall be submitted to such registered electors at a general election or a special election called for such purpose. Such question may also be proposed to such registered electors at the same time and in the same or a separate question as an election required under section 29-25-112. The district shall not be established unless a majority ofthe registered electors voting on the establishment of a district at the election vote in favor of the establishment. The election shall be conducted in substantially the same manner as municipal and county elections, and the municipal or county clerk and recorder of each local government in which the election is conducted shall assist the members of the combination of the proposed district in conducting the election. INTERGOVERNMENTAL AGREEMENT THIS INTERGOVERNMENTAL AGREEMENT effective this day of , 2007, by and between the TOWN OF ESTES PARK, COLORADO, (the "Town"), and the BOARD OF COUNTY COMMISSIONERS, LARIMER COUNTY, (the "County'DÂ· RECITALS WHEREAS, the Local Marketing Dist:rict Act, Section 29-25-101 et.req., C.R.S. provides for the organization of local marketing districts ("the Act") ; and WHEREAS, the Act allows formation of a local marketing district within the Town of Estes Park and unincorporated Larimer County; and WHEREAS, the Town and the County hereby agree to form a local marketing district pursuant to the terms and conditions of the Act for properties located within the Town and unincorporated areas of Larimer County; and WHEREAS, Section 29-25-105 (3) C.R.S. of the Act provides that the Town and the County, by contract, may create a local marketing district to exercise the functions authorized by the Act following receipt of a petition for the organization of a local marketing district from the requisite number of owners of commercial real property in the proposed service area; and WHEREAS, a petition has been filed with the Town Clerk and the Clerk of the Board of County Commissioners meeting the requirements set forth in Section 29-25-105 (2) CRS of the Act; and WHEREAS, the Town and the County desire to establish the Estes Park Local Marketing District pursuant to the terms and conditions of this Intergovernmental Agreement; and WHEREAS, Section 29-25-105 C.R.S. provides that the question of establishing a local marketing district shall be submitted to the registered electors residing within the District at a general election; and WHEREAS, the Petition states that the Disttict shall be funded by the levying of a two percent (2%) marketing and promotion tax pursuant to the provisions of Section 29-25-112 C.R.S.; and WHEREAS, approval o f the establishment of the local marketing district and the authorization for the levying of a two percent (2%) marketing and promotion tax to fund the Draft #2,6/4/07 services of the local marketing district by the registered electors residing within the service area of the proposed local marketing district is a prerequisite to the implementation of this Intergovernmental Agreement; and WHEREAS, pursuant to the applicable statutes of the State of Colorado, the Town and the County are authorized to enter into this Intergovernmental Agreement. NOW, THEREFORE, IN CONSIDERATION OF THE RECITALS SET FORTH ABOVE WHICH ARE INCORPORATED HEREIN, AND THE COVENANTS AND CONDITIONS CONTAINED HEREIN, THE PARTIES AGREE AS FOLLOWS: I. Name and Purpose. The name of the District is the Estes Park Local Marketing District (the "District"). The purpose of the District is to provide the services set forth in Section 29-25-111 (1)(e)(I)(A), (13) and (C) C.R.S. II. District Service Area. The District Service Area (the "Service Area") is depicted on Exhibit A attached hereto and incorporated herein by this reference. III. Eligible Electors. An eligible elector or registered elector of the District means an elector as defined in Section 1-1-104 (12) C.R.S. who has complied with the registration provisions of the Uniform Election Code of 1992, and who resides within or who is eligible to vote in the Town of Estes Park, or within the unincorporated area of Larimer County located within the Service Area of the District. IV. Elections. An election shall be held pursuant to Section 29-25-105 (6) C.R.S. for the purpose of establishing the Dist:fict pursuant to the terms and conditions of this Intergovernmental Agreement. An election shall be held pursuant to Section 29-25-112 0)(A) C.R.S. for the purpose of authorizing the levying of a two percent (2%) marketing and promotion tax on the purchase price paid or charged to persons for rooms or accommodations located within the District. All District elections will be conducted as provided in Section 29-25- 105 (6) C.R.S. The Town and the County agree that the question of approval of this Intergovernmental Agreement for the establishment of the District and authorization for a two percent (2%) marketing and promotion tax shall be placed upon the General Election ballot of November 4,2008. Each entity shall be responsible for its share of the cost of said election based upon the number of registered electors from each entity voting at said election and the formula for payment as set forth in the County Clerk and Recorder's coordinated election agreement. If the District is established, the District shall be responsible for reimbursing the Town and the County for all costs incurred by each entity for said election. V. Effective Date. This Agreement shall automatically take effect upon certification of the Clerk and Recorder of Larimer County, Colorado, that a majority of the registered electors voting at the November 4,2008 General Election has approved the establishment of the District and authorized the two percent (2%) marketing and promotion tax. 2 : Draft #2,6/4/07 VI. Board of Directors. The Board of Directors of the District shall have a]11egislative power o f the District. The Board of Directors shall be composed and appointed as follows: A. Number. The number of Directors shall be seven (7). Three (3) members shall be appointed by the Town. Three (3) members shall be appointed by the County. One (1) member shall be appointed jointly by the Town and the County. Each member shall serve a four (4) year term. Each term shall be staggered so that two (2) members are appointed each year and one (1) member in the fourth year. The terms for each year shall include one (1) member appointed by the County and one (1) member appointed by the Town. The one (1) member term in the final year shall be the joint appointee of the Town and County. All Directors shall serve until their successor is appointed by the respective entity. Members may serve for more than one (1) term. B. Residency. All appointees of the Town shall be residents of the Town for at least one year prior to the appointment. All County appointees shall be residents of the unincorporated portion of the Service Area for at least one year prior to their appointment. All members shall continue to be residents of their respective areas during their entire term. A County appointee of the Board residing in a area annexed by the Town may continue to serve the remainder of that member's term. C. Officers. There shall be a Chair and a -Vice-Chair. Each shall serve one (1) year terms, beginning with the first meeting in January of each year. The Chair shall be from the Town appointees in even years and from the County appointees in odd ' years. The appointment of the Chair shall alternate between the Town and County appointees throughout the tenn of this agreement. The Vice Chair shall also alternate between the Town and County appointees, opposite that of the Chair, namely when the Chair is a Town appointee, the Vice-Chair shall be a County appointee. The Chair and Vice-Chair shall be chosen by the members of the Board. The Vice-Chair shall serve as the Chair in absence of the Chair. The joint appointee shall not serve as Chair or Vice-Chair. D. Attendance. All members shall attend all meetings, including special meetings, if possible. In the event any member misses three (3) consecutive regular meetings or a total of four (4) regular meetings in a calendar year, the Town or the County may remove its appointed member for neglect of duty and designate a new member to fill the vacancy. E. Vacancy. Any vacancy occurring on the Commission shall be filled as soon as practical by appointment by either the Town or County. F. Meetings. Regular meetings of the Board of Directors of the District shall be once a month. Special meetings may be called as necessary. G. Powers. The Board of Directors shall have all the powers set forth in the Act. 3 , Draft #2,6/4/07 H. Quorum. The majority of the Board of Directors shall constitute a quorum. A vote of majority of those present at a meeting shall be necessary for action by the Board. VII. Distribution and Division of the Assets of the District. In the event of termination of the District either by action of the Town and County as more fully set forth herein or by order of any court having jurisdiction thereof, all assets of the District shall be divided equally between the Town and the County to the extent feasible. VIII. Term. The term of the District shall be for an initial term of five years beginning Ja~uary 2009, and continuing until December 31, 2014. The term shall automatically extend for additional five (5) year periods unless on or before July 1 of any calendar year at the end of any five (5) year period, either party gives written notice to the other party terminating this Agreement. In said event, the District shall automatically terminate on December 31 of said calendar year. Between the date of giving the notice of termination and December 31, the District shall continue to be in existence and have all powers as set forth herein. However, the District shall not enter into any contracts or agreements which extend beyond December 31 of the calendar year in which a notice of termination has been given. This Agreement nor the District may not be terminated, repealed or rescinded so long as the District has any bonds outstanding. i IX Other Provisions. A. Transition. During the period o f time between January 1, 2009 to January 1, 2010 ("the transition period'D, the Town of Estes Park shall provide a staff member to act as administrator of the District. Also, the Town shall provide necessary office space and support to said staff member for administration of the District. In the transition period, the Town Attorney shall provide legal services to the District Board. The Town Attorney shall consult with the County Attorney in any matters affecting the unincorporated portions of Larimer County within the Service Area. B. Automatic Termination. The parties understand and agree that in the event the registered electors of the District fail to approve the formation of the District and tile levying of the Marketing and Promotion Tax at the General Election held for said purpose on November 4,2008, this Agreement shall automatically terminate and be of no further force and effect. C. Enforcement. It is the intent of both the Town and County that this Agreement is binding upon both the Town and County, and that either party hereto shall be perinitted to specifically enforce any provisions of this Agreement in a court of competent jurisdiction. D. Amendment. This Agreement may be amended in writing at any time by mutual agreement of the parties. E. Notices. All notices, demands or other documents required or desired to be given, made or sent to the parties under this Agreement shall be made in writing, shall be 4 . Draft #2,6/4/07 deemed effective upon mailing or personal delivery. If mailed, said notice shall be mailed, by regular mail Postage prepaid (unless this Agreement specifically requires certified mail) addressed as follows: TOWN OF ESTES PARK Attn. Town Administrator Post Office Box 1200 Estes Park, CO 80517 LARIMER COUNTY BOARD OF COIJNTY COMMISSIONERS Attn: Chair Post Office Box 2066 Loveland, CO 80522 F. Governmental Immunity. The parties agree and understand that both parties are relying on and do not waive, by any provision of this Agreement, the monetary limitations or terms (presently One Hundred Fifty Thousand and 00/100 Dollars ($150,000) per person and Six Hundred Thousand and 00/100 ($600,000) per occurrence) or any other rights, immunities, and protections provided by the Colorado Governmental Immunity Act, Section 24-10-101, C.R.S., as from time to time amended, or otherwise available to the parties or any of their officers, agents or employees. G. Current Year Obligations. The parties acknowledge and agree that any payments provided for hereunder or requirements for future appropriations shall constitute only currently budgeted expenditures of the parties. The parties' obligations under this Agreement are subject to each individual party's annual right to budget and appropriate the sums necessary to provide the services set forth herein. No provision of this Agreement shall constitute a mandatory charge or requirement in any ensuing fiscal year beyond the then current fiscal year of each individual party. No provisions of this Agreement shall be construed or interpreted as creating a multiply fiscal year, direct or indirect debt or other financial obligation of either or both parties within the meaning of any constitutional or statutory debt limitation. This Agreement shall no directly or indirectly obligate either party to make any payments beyond those appropriated for each party's then current fiscal year. No provision of this Agreement shall be construed to pledge or create a lien on any class or source of either party's monies, nor shall any provision of this Agreement restrict the future issuance of either party's bonds or any obligations payable from any class or source of each individual party's money. H. Operating Plan. Prior to the levying of a Marketing and Promotion Tax or provision of services, the Town and the County shall approve an Operating Plan for the District. The District Board shall file with the entity no later than September 30 of each year, an Operating Plan specifically identifying services to be provided by the District, any Marketing and Promotion Tax to be imposed by the District, and such 5 ,. Draft #2,6/4/07 additional information as required to inform each entity as to the activities, services, and funding of the District in the upcoming year. The Operating Plan shall include a proposed budget for the next fiscal year. Either the Town or the County or both may require the District to supplement the Operating Plan or budget where necessary. The Town and the County shall approve or disapprove the Operating Plan including the proposed budget within thirty (30) days after receipt of the Operating Plan, the proposed budget, and all additional documentation requested by either entity no later than December 5 of the year in which such documents are filed. The services and financial arrangements of the District shall conform so far as practical to the approved Operating Plan. The Operating Plan may, from time to time, be amended by the District with the approval of the Town and County. TOWN OF ESTES PARK By: Mayor ATTEST: Town Clerk BOARD OF COUNTY COMMISSIONERS OF THE COUNTY OF LARIMER. 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