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~/ <br />Cify of <br />Elk -..-, <br />River <br />REQUEST FOR ACTION <br />TO ITEM NUMBER <br />Ci Council 4.7• <br />AGENDA SECTION MEETING DATE PREPARED BY <br />Consent October 17, 2011 Michael Hecker, Parks & Recreation <br /> Director <br />ITEM DESCRIPTION REVIEWED By <br />Bank of Elk River Sponsorship Robert Thistle, Interim City ~~ <br /> Administrator <br /> REVIEWED BY <br />ACTION REQUESTED <br />Staff and the Parks and Recreation Commission recommended approval for the Bank of Elk River <br />contribution for community events. <br />BACKGROUND/DISCUSSION <br />The Bank of Elk River has been involved in city Parks and Recreation sponsorships since 2007. It has <br />been an exclusive sponsor of the Riverfront Concert Series and other community events for the past <br />three years. Details on the background and discussion are in the attached memo that was provided to the <br />Parks and Recreation Commission. <br />FINANCIAL IMPACT <br />The sponsorship contribution to the city from the Bank of Elk River is $14,000. The cost of the <br />additional benefits that the bank is requesting for 2012 is the cost of the dedication plaque for $25 to <br />$100 and Geocaching fox $850. The other benefits at no cost to the city that the bank is requesting is <br />moving the Farmers Market from Westbound Liquors to Downtown and placing a bank logo on youth <br />sports t-shirts. <br />ATTACHMENTS <br />Bank of Elk River Sponsorship <br />Geocaching <br />Action Motion by Second by Vote <br />Follow Up <br />C:\Users\jmiller\AppData\Local\Microsoft\Windows\Temporuy Internet <br />Files\I-ow\Content.IES\8YEIN5ER\Elk%20River%20Bank%20Sponsorship[1].doc <br />