Feb. 27, 2024 1:15p
(WGTD)---A Racine city council committee has recommended approval of a contract with a management company that is pledging to rejuvenate the under-utilized Festival Park, the city-owned complex on Racine’s lakefront.
The vote Monday night by the Finance and Personnel Committee was unanimous. The deal now goes to the full council for approval.
The contract is similar to one the city had for years with VenuWorks, with the exception of the compensation component. The city each year is prepared to give Racine-based 5K Events $150,000—that’s twice as much as it gave the last company. But the deal—unlike the previous one—excludes any profit-sharing. That is expected to change, however, once 5K establishes itself, Flynn said Monday night.
He said the company has already fielded many inquiries from entities that would like to return to Festival Park. Salmon-a-Rama has all but signed a contract. "I told them as soon as we inked the deal here that we would meet with them and move forward," Flynn said. "HarborFest is looking to come back in 2025. We have numerous events looking to come back this summer but we haven't signed anything yet with anybody," Flynn said.
In addition to Festival Park, 5K is also expected to manage Memorial Hall for the city.
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