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Bayfront Trust
Acosta, Vanessa -.-From: Sent: To: Subject:
Schmand,Timothy Monday, April 14, 2014 3:09 PM Acosta, Vanessa RE: Morning
Attachments: September 13,2012, EI - Ultra Music Festival Impacts. pdf; Ultra 2014 SurchargeA Sheet1.pdf; Ultra 2014 - Final Settlement.xlsx
Hello, Vanessa,
As we discussed:
Attached please find:
4> 2012 economic impact,
til Tickets sold
.. Ultra Settlement sheet
Highest hotel room rates during Art Basel and Ultra 2013, as provided by the GMCVB.
Art Basel: Ultra:
December 5, 2013: $2.78.84 March 23, 2013: $318.38
Let me know if you have questions,
Tim
From: Acosta, Vanessa Sent: Monday, April 14, 2014 2:49 PM To: Schmand,Timothy Subject: RE: Morning
Do you have a momenf?
Vanessa I Acosta, Esq Jl·[. S\V :2tld ,\VC
:\;1iami, Fl. (l:·\1:1() (;-105) ,.j.! G-] 17(;
From: Schmand,Timothy Sent: Monday, April 14, 2014 11:12 AM To: Acosta, Vanessa Subject: RE: Morning
Hello, Vanessa.
1
Please see attached.
Thanks,
Tim
From: Acosta, Vanessa Sent: Monday, April 14, 2014 11:09 AM To: Schmand,Timothy Subject: Morning
Good morning sir, Is there any way you could send me a copy ofthe Ultra Contract and any information you may have I am trying to compile everything as requested for the agenda package to be ready for commission.
Vanessa I Acosta, Esq ·lJ·l S\V 2ud Ave :Vliami, FL :nUlO (:l05) t I G-I 1'7 (i
2
BayfrDliIllPark M&:NJlGEMUlT"IIIIJSI
EVENT SETTLEMENT Ultra 2014
Event Entertainment Group, Inc.
Estimate Final Rental Fee $ 119,502.00 $ 119,502.00 Load In/Load Out $ 150,000.00 $ 150,000.00 Parking Space Rental $ 16,500.00 $ 16,500.00 Surcharge $ 300,000.00 $ 295,980.00 Clean-up Services (During & After) $ 171,055.61 $ 171,055.61 Additional VIP Cleaning $ 5,277.36 $ 4,877.56 Solid Waste - Trash Hauling $ 25,000.00 $ 19,885.39 Garbage Cans - Barrels $ 6,107.51 $ 6,107.51 Electrician $ 6,000.00 $ 5,037.00 Police $ 619,207.50 $ 609,390.00 Fire $ 310,014.18 $ 318,617.98 Box Office Manager $ 2,500.00 $ 2,957.50 Beer/Alcohol Location Fees $ 4,000.00 $ 8,400.00 Food and Soda Location Fees $ 4,500.00 $ 4,500.00 Arts/Merch/Sponsor Location Fees $ 1,875.00 $ 1,875.00 Drums - Disposal Containers $ 500.00 $ 500.00 Amphitheater Electricity $ 2,607.84 $ 2,607.84 Light Pole, Bench, Trash Remov/Reinst. $ 27,275.00 $ 27,275.00 Bougainvillea and Chain Link Removal $ 5,000.00 $ 5,000.00 Additional Load-Out Cleaning $ - $ 5,117.44 Security Staff - Load Out $ - $ 3,887.00 Cleaning Supplies $ - $ 167.69 Railing Removal $ - $ 2,150.00 Rat Bait Stations $ - $ 750.00 Coconut / Trees Trimming $ - $ 3,175.00 Park Damages $ - $ 17,428.00 Taxes $ 37,561.47 $ 39,498.63 BALANCE DUE $ 1,814,483.47 $ 1,842,242.15
Wire Transfer $ 1,814,483.47 $ 1,814,483.47
Damage and Security Deposit $ 250,000.00 $ 222,241.32
The above statement is accepted by the undersigned parties as a complete and accurate settlement of all event revenues and expenses except damages.
Difference $0.00 $0.00 $0.00
($4,020.00) $0.00
($399.80) ($5,114.61)
$0.00 ($96:3.00)
($9,8"17.!50) $8,603.80
$457.50 $4,400.00
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$5,117.44 $3,887.00
$167.69 $2,150.00
$750.00 $3,175.00
$17,428.00 $1,937.16
$27,758.68
FOR BAYFRONT PARK MANAGEMENT TRUST BY: Event Entertainment Group, Inc. TIMOTHY F. SCHMAND
Friday Saturday Sunday Tickets Sold 47,672 47,672 47,672
Camps Scanned over 1040 1,252 1,825 1,897
Total Surcharge Tickets 48,924 49,497 49,569
Surcharge per surcharge ticket $ 2.00 $ 2.00 $ 2.00
$ 97,848.00 $ 98,994.00 $ 99,138.00
Amount Paid $ 100,000.00 $ 100,000.00 $ 100,000.00
Amount Owed/(Refund Due) $ (2,152.00) $ (1,006.00) $ (862.00)
BAYFRONTPARK USE AGREEMENT
THIS AGREEMENT hereinafter referred to as the "AGREEMENT,!I made this ~ day of fl\o,yc.h , 2014, by and between the Bayi1'ont Park Management Trust, a limited agency and instrumentality of
the City of Miami, hereinafter referred to as the IITRUS'l',u and EVEN''l' EN'l'ERTAINMENT GROUl'j INC" a Florida for"profit corporation, with offices located at 1000 NW 14th Street, Miami, Florida 33136, hereinafter referred to as the "USER."
RECITALS
WHEREAS, the 'l'RUST is responsible for the opel'ation, management and maintenance of the City of Miami ("City") owned park, looated at 301 N, Biscayne Blvd., Miami, Florida 33132, and known as Bayfront Park (the "PARK"); and
WHEREAS, USER wishes to use the l]ARK forihe purpose of cOl1duoting the Ultra Music Festival on the Friday through Sunday of the fourth weekend of Matoh 2014, Maroh 2015, Maroh 2016, Maroh 2017 and ,Matoh 2018; and
WHEREAS, USER wilt occupy the PARK from approximately thirty (30) days prior to the first day of eaoh performanoe and Clontinue for approximately seven (7) days following the last Sunday performance, and
WHEREAS, USF:R upon occasion desil'Os to make certain ohallges to the PARK in order to produoe the Ultra Music ,Festival, with suoh renovations occurring at USER's sole oost and expense, USER agt'ees that those renovations shall be dOlle in a manner satisfactory to the 'l'RUST, In the TRUST's sole discretion.
NOW, THEREFORE, in considera.tlon of the covenants and agreements hereinafter Stlt forth the receipt and sufficiency of which is acknowledged by tho parties, tho TRUST hel'eby grants unto USER the privil(;lge of enh'y upon and use oftll/; PARK, fol' the purpose ofpl'Oducing the EVENT, on the terms and conditions set forth in this Agreemeut.
1. X{ECITALS: The Recitals afe tme and oorrect and ijl'e hereby incorporated into and made a Pll1't of this Agreement.
2. EVENT AND USE PERIOD: The EVEN'r is the Ultl'a Ml)sic Festival, to take place at the PARK 011 tho Friday through Sunday of tho fourth weekend of March 2014, March 2015, March 2016, March 201.7 and Marcl1 2018 from 4:00 pm to midnight on Fridays, 12 noon to midnight all Saturdays, and lloon to 11 p.m. all Sundays. Sub,iect to the approval af tbe Miami City Commission, USER shall, at all relevant tim~s, have the I'ight, but not the obllgation to produoe Events that cover an additional weel.end during the Use Period. Set"up fol' the EVENT will begln at 7:00 am, on 01' about February 27, of each yeaI' of the term and telU'-down will terminate no lateJ' thanll :59 pm, on or about April 5, each yei.\!' of the term (the "USE PERIOD"), Unless othel'Wise specifioally proVided hereunder, USER shall be completl;)ly responsible fQr the pl"oduQtion, coordinattol1 and management of the EVll:NT, at its sole oost and expense, Set-up fol' th.e EVENT shall not interfere with visitors' use of the PARK
3. ,PREMISES: As used in this Agreenwnt, "PREMIS'ES" means the entire PARK and such open spaces that may be required by the USER fOl'the EVENT, and suoh othel' facHitles of thC;l PARK as nmy be authorized by the TRUST. PREMISES do not include the Klipsch Amphitheater, the use of wbioh is authorized utlder a
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separate agreement.
a. Restroom Facilities: USER hereby agrees to provide adequate portable restroom facUities, which shall be open and operational during the USE PERIOD.
b. Control of Access: USER hereby agrees that the staff and management of the TRUST, ill oonsultation with the Miami Polioe Department and tll" USER, have complete oontrol as to when gates to Events are opened. USER hereby agrees to respond to !Illy reasonable TRUST request dllring the USE PElilOD of the EVENT,
c. Soulld Cllecl[s: USER hereby agrees that there will be no sound checks bofore 4:30 PM on any weekday (Monday through Friday),
d. SOUIld Level: USER understands that the TRUST'S sound polloy establishes a maximum level of 110 decibels measured 60 feet away from each stage. Failure to oUI'e eaoh illcld()nt of sound level noncompliance within flve (5) minutes ofnotifioatiOIl by Tl'ust designee will result in a fee of $1,000 pel' incident.
e, Time of EYent: USER heJ'tlby agrees the EVENT must end by 12 midnight (ltl Friday and Saturday, and by 11 pm on Sunday. USER shall pay a time ovel'sge fee of $1,000.00 for every one (1) minute, or a £I'aotion thereof, lfthe EVENT continues beyond 12 midnight. This overage fee is ill addition to all other fees and costs for whioh USER is respollsible under this Agreement.
f. Alcohol Wrist Band Policy: USER h(;l)'eby agrees that if alcoholic beverages are vended at: tIle EVENT, USER will use alcohol wrist·band,ing staff to ensure consumers of aloohol are of the appropriate kgal drlnldng age.
g. Disp(msing Qf Alcoholic and Non-alcoholic Beverage§; USER shall not sell beverages, alcoholic 01' nOll-alcoholic, in glass bottles of any size. USER shall dispense all beverage products in plastic at paper CUJlS only. However, USER shall b\l authorized to sell Red Bull products in cans not to exceed nine (9) ounces. In addition, the TRUST authorizes USER to dlsp(mse Heineken beer in aluminum shaped bottleR in the VIP area(s) only, However, under no circulUstance shall this pl'oduct be taken Ollt of the VlP al'ea(s).
USER hereby agrees to dispense it maximum of two (2) alcohoHc beverages per person at tim() of purchase,
USER hereby agrees that 0) sales of alcoholic beverages will stop sixty (60) minutes prior 10 the end of the EVENT and (ii) sales of non-alcoholic beverages shall continue without interruption until the oonclusion of the EVENT.
h. Sponsol"8 Sigllllge: USER hereby agrees that unde\' no circumstances can any TRUST sponsor's signage be covered during the USE PERIOD.
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4, CONDITIOJ:'{ OF PREMISES AND REQDIRED RENOYATION§: USER has inspeoted, or has been given the opportunity to inspeC'it, the PREMISES, priol' to execution of this Agreement, and a.ocepts it in its present <londition and agrees to restore nnl'lreturn the same in the annual pre·load-In condItion, Speolfically, USER agrees that it sha1l1'eplac~ or restot'e to their original oondition, any and all compol1ents of the PARK, including but not limited to infl'astruoture, gl'ass ol'trees, including necessary irrigation, if any, and decol'ativl:l (Including ~ta!ues, historioal markers and Light Tower paint with apPl'oved, preparation aJld specialfzed paint) and play struotul'es, which are damaged due to the EVENT, All replacement DJ'l'estoration shall be in a manlier satisfactory to the TRUST, In the TRUST's sole discretion, The USER shall repa.ir and make the PARK safe and available fOl' public use immediately after the USE PERIOD. Commenoing seven (7) days following the last Sunday performance, the USER shall commenoe sodding or mulching damaged sod areas in preparation for the Corporate Run, which takes plaoe annually the last Thursday in April. Upon the Corporate Run's oonolusion the USER will diligently and continuously work to resume and finish the PARK's complete restoration, subject to the TRUST's sole and absolute approval, whioh may be withheld, trSER shall complete all restOl'ation no later than June 1, flnnually, USER shaH make a quallfied representative available (for whom the Trust shall retain appI'oval rights) to review, disouss and implement a course of action as a I'esult of damages to the PARK In ac(}ol'dal1cl.'l with the terms mentioned in Section 8, Damage Rnd Security Deposit. Should the USER fail to complete the PARK's restoratlon by June 1 annually, the TRUST shall begin deducting $10,000 pel' day from the $250,000 Damage and Security Deposit for eaoh day the restoration remains Incomplete.
The parties acknowledge that USER upon occasion shall have the right, but not the obllgatiotl, to make certain l'enovatlons to the PARK in order to conduct the EVENT, with such renovations occurring at USER's sale cost and expense. The TRUST shall not Itave allY obligation to USER, finllt10ial or otherwise, arising out ofthe renovations, The renovations, if any, shal! be ill the form depicted ill Exhibit C (which ExhibIt C may be jointly provided by the partIes subsequent to the el(ecutioll of this Agreement but prlOI' to the commencement of any renovatio11 and may chang a annually, as necessaJ'Y) and shall be performed in a manner acceptable to the CITY and TRUST, USER acknowledges that all sllch renovations, if any, shall occur so as to rriinimize the impact to visitors to the PARK. Further, the USER recognfzes and agt'ees that the PARK is a public facility and during the entIrety of the USE PERIOD will cooperate wfth the TRUST to !.lnsure ongoing public access to the facility, as I'easonably possible,
5. COMPLIAN~E wrTH PERMlTS AND LAlY§;
a. USER. represents and warrants that during the term of this Agreement, in connectioll with the EVENT', it will obtain and maintain all requfl'ed permits and approvals. TRUST will assist USER il1 obtaining assembly pel'mit(s) from the Office of Fire Prevention of the City of Miami. Fire Department manpower reqUirements shall be deterlUllled by the Fire Department at least 10 business days prlm'lo the EVENT,
b, USER represents lind warrants that dul'lng the term of this AGREEMl!"',NT, it will not use or employ the PREMISES, or aJly other City owned propeliy, to halleile, transport, store or dispose of lilly hazardous niatel'ials and that it wlll not conduct any aotivity on PREMISES 01' City oWll!.ld property in violation of allY applicable eiw!rollmeutallaws,
c. USER represents and covenants that it will comply with all applioable laws, codes and ordinances, including, but not limited to, !be Amerioans with Disabillties Aot ("ADA").J!1Llru!r.Lpmhlbiting disol'iminatioll and el1vjro11mentai laws,
d. USER represents and warrants that it is aware of the 1'(Jstri()tion~ containoclln Seotions 22-180 through 22-
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I .1
185 ofthe Code of the City of Miami elltit1ed "Handbills" and that it wHl oomply with all of the I'equit'ements thereIn with l'cspect to the distribution of commercial handbills, Should USER fall to oomply it shall be responsible for the payment of any fine the City may impose upon the TRUST. Payment for fines imposed must be made within ten (10) days ofrecefpt thereof.
c. USER accepts this Agreement and hereby acknowledges that USER's strict compliance with all applicable federal, state and locnl laws, ordinances and regulations is a condition of this Agreement, and USER, and any of its employees, agents or performers, shall comply therewith as the same presently exist and as they may be amended he1'eafter. This Agreement shall be construed and enforoed according to the laws ofthe State ofFlorlda.
Further, the USER. and any of its employees, agel1ts or performers, hereby agrees to comply with all regUlations regarding travel to und f)'om the Unitl;ld States as promulgated by the U.S. Department of Treasury, Office of Foreign Assets Control ("OFAC") and the U.S. Department Of State.
Any llllC\1l'ed violations of any federal, state and local law shall subjeot the USER to oancellation of this Agreement,
6. USE FEE: lIt consideratIon of the use of the PREMISES, USER shall be responsible for all costs associated with th(l EVENT, and shall oompensate the TRUST ill tbe maimer set forth ill Attachment A, which is attached hereto and made a part of this Agreoment. In exchange, t.he TRUST shall, at a minirmm'l, provide those certain venue deliverables descrIbed in Exhibit A. Further, commenoing the third year of the term (2016), the USE FEE per weekend shall increase by 3% annually.
USER understands that if the PREMISES 11J'e not cleared of' any and all production equipment by seven (7) days following the last Sunday performance, unless it has made other al'l'aJ1gements with the TRUST, a $10,OOO/day fee will be imposed until the PREMISES have been cleared of production equipment.
USER may inour additional charges ("Addltional Charges") for rental of tents, tables and other necessary equipment or services tbat USER may require the TRUST to facilitate. With respect 10 tent'l, USER shall not be required to use TRUST's tent setllicel's or installers, provided that the tent installer or serviceI' )lroposed by USER satisfies TRUSTS's requiremeuts. The final coat of any Additional Charges shall be determined !L)lOll presentation of invoices from the various service proVIders.
Exoept as otherwise specif1cally provided hel'ein, USER shall be r(lsponsible fbI' all costs involved in the presentation of the EVENT, including without limitation: all BMI and ASCAP license fees, all staffing and all charges for police, fire rescue, inspectors, building andlor assembly permits, secw'ity, insurance all utilities, supplies, equipment rental, ticket sUI'charge, all applicable taxes, inoluding State of Flori<la Sales Tax and o'lher servioes, except those whlcJl are ful'llished by the TRUST alJd lue inoluded in the USE FEE.
7. TERMS OF PAYMENt: USER shall submit to the TRUST, hI the form of cashiel"s oheck, or mOlley order, no lat(ll' thal1 5 p.m" nine calendar days prior to the commencement of the USE PERIOD the USE FEE, minus any applicable Ticket Surcharge and shall have replenished the Damage and Security Deposit by the dates outlined Im'ein. The Ticket Surcharge shull be payable as required In pal'agmph 10.
8. DAMAGE, & SECURITY DEPOSIT: The Damage anI! Security Deposit shall be in the amount of $250,000 and shall be subject to the applioable terms of this Agreement. The Damage and Security Deposit Is Intended to IlIlCLlre perfOrmall0e
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of all ofUSER;S obligations hereunder, 111 addition, the Damage and Security Deposit is intended to seoure USER'S request fol' future dates in 2014,2015,2016,2017 & 2018.
Ajoint inspection of the PREMISES by the parties will be made within two (2) business days aftenhe completion of EVENT, wherein the short term Rnd long telln rep ail's to the PARK will be identified, The Damage and Security Deposit will be held by the TRUST until such time as all the repairs are oompleted or it is depleted by the USER's failure to oomplete the rflstoratlo11 within the allotted time, The Damage lInd Security Deposit shall also be applied toward payment of any f[les or costs assessed against the PARK, the City of Miami or the TRUST for activities and operations of USER direotly l'e,9ulting from the Event hereunder, or direotly arising f1'om the EVENTS, In the event the amount neoessary to repair the damages or satisfy USER'S obligations hereunder exceeds the Damage and Security Deposit then the USER agrees to pay the balance to the TRUST, within tell (10) business days of the TRUST'S written ~oort '
DSER further agrees to inform the TRUST on or before July 1, of each year of their intentions for the subsequent dates through the end of the tet'm ofthis Agl'eement. If the USER does not intend to host EVENT at the PARK (n subsequent yeat's the Damage and Security Deposit shan be refunded. If the USER affirms intelltion of holding EVENT, the Damage and Security Deposit will be held to seoure perfOl'lUanOe ohll USER's obligations. Failure to affirm intention of usage by July 1, of each yefll' shall not be deemed an affirmation by USER of its Intention to use the PARK. USER'S failure to affirm Its intention to use the PARK shaH result 111 forfeiture of, deposit, Cancellation ofEVEN1' after USER'S I!ffirmatlolJ to th(.l mUST aflts intention tD use the PARK shall result in forfeiture ofihe Damage and Security Deposit.
Simllar1y, in the event the Damage and Security Deposit falls belDW $250,000 after USER. completes all necessary l'epairs to the PARK, the USER shall replenish up to the full amount of $250,000, within ten (10) business days of the TRUST'S written mquest. Th~ TRUST shal! 1112f.intail1 the Damage I'lud Seclldty Deposit In an interest bearing acoount. The intel'est shall aCOl'ue to the USJm'S benefit. The TRUST shall credit all interest lowat'cls lISER'S MUl'e financial obligations.
9. BANNER PLhCEMENT: The TRUST reserves the right to restrict placement of banners in Bayfront Park.
10, TICKET: fl. Ticket S]ll'duu'ge:
USER agrees to pay to the TRUST all applicable ticket sUI'chal'ges as stated ill section 53"2 oftbe Code of the City of Miami and Oldillanos 10509 of the City ofMlami, as umellded, As of August 1, 2005, the applicable ticket surcharge is as follows: 75 cents on all tickets between $1.00 to $l4,99; $1.00 on all tickets between $15.00 to $29,99; and $2,00 on all tiokets $30,00 ar.d ovel'. The tioket sUl'ohal'ge, or all amonnt equal to the tioket surcharge, shall also apply to all complimentary tickets except as provid[ld hereunder. The amount o:fthe tioket surcharge shall be paid as part oithe USE FEE, 1I0t the later than one day prior to the opening of the gates for each respective Event, The amount of tioket surcharge shall be paid on I,:very tioket sold, regardless of whether the ticket is used at the gffte on an EVENT day,
b, COMPLIMENTARY IICKiTS: CQMP!tlME/NTARY TICKETS: USER shall have tight to distribute, up to 1040 tickets per each Event day (including up to 40 tickets to be provided to the TRUST pel' each event day, which will be VIP) fol' promotional use without payment of a ticket surcharge, USER shall only pay a ticket surcharge 011 complimentary tickets actually used at the EVENT in !;lxcess of thil 1040 tickets authorized hereltl. USER shall
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not pay a ticket sUf'oharge 011 complimentary tickets issued itl excess of the 1040 tickets authorized p(:)J' event day, but not used. USER agrees to provide TRUST with cotnplimelltaty tickets t10 later than five (5) working days prior to EVENT.
c. TICKET POLICY: USER agrees that all tioketed events in PARK wi
12 FOOD & ARTS & MERCHANDISE LOCATIONS: The TRUST and the Fire Marshall of the City of Miami reserVll the right to designate the looation of' all food and craft booths for the EVENT with proper aud advance notification 10 the USER.
13. SECURITY: USER shall provide at USER '8 cost, aU neoessary perimetel'/t-shirt event security and pollee officel"S to be det~rll1lned by the City of Miami Police Department and the TRUST, In addition, TRUST may require extra fencing or security if it deems It tleoessary,
14. CATERING: USER, ilt its own oost, shall provide catering, food and beverages and the cleanup of the designated food area during the EVENT, The TRUST retains the right to hire, at UBER'S cost alld expense, a COl1cession Coordinator, whose responsibility will be to oversee and approve the coordination of all conoossion operators, and to l'eport to tho ,{,RUST and require immediate cOI'I'eat/on of any acts that do not coMOI'm to this Agt'f;lOnlellt, including. but Il0t limited to, the adhet'ence of all State, County, Munici.pal and Trust health codels, rules and regulations,
15. !NSURANCE: USER shall obtain and maintain in force fo!' the USE PERJOD, General Llabillty InSUrallC(l on a Compl'ehetlsive General Liability FOtID at an equivalent polioy form [n the fl.mount of coverage deemed aooeptabl(l by the City of Miami Risk Management Administrator fol' bodily injul'Y and pl'Opel'ty damage tiability, see Exhibit B. whioh is attached hereto and made a part ofthis Agreement. .
The City of Miami, the Bayfront Park Management Trust. and the Army Corps of Engineers (ARMY CORPS), shall be named" Additional Insured" on aU policies, Any questions regarding Insurance should be directed to the Trust, The Trust williiaisoll between the City of Miami Risk Administrator and the User concerning questiol1s regarding insuranoe,
USER shall furnish all InsUI"EItloa certificates l'(;lqU!l'ed by the City of Miami InsUfill10e Administrator, no later than ten (10) days prior to the commencement of the USE PERIOD,
16. INDEMNIFICATION: USER agrees to IndemnifY. defend, covenant not to sue and hold harmless the CITY and TRUST, ol1d all the CITY'S and TRUST'S members, officials, officol's, agents and employees (collectIvely referred to as the "lndemn:tees"), fi'om and a.gainst all losses, costs, penalties, fines, damages, olaims, expenses (including attorney's fee find costs), and liabilitIes (collectively referred to as "LiabilitiesI') arising Ollt of, l'esulting from, or in oonnection with (i) the EVENT, the use of' the »REMISES and/or pCll'fottnllnoe of any renovation to the PREMISES, (ii) the perfbl1nanoe or non-performencl:l ofthis Agreement, whether it is, or is alleged to be, directly or indirectly caused, in whole or in pal't, by atl)' aot, omission. default Dr negligence (whether active 01' passive) of the lfidemllite~s, or any of them (except for the intentiotlal, oriminal 01' wrongful acts, or gross negligence or wiIlfill misoonduct committed by such Indenmitees), or (iii) lbe failure of the USER to comply with ally of the provisions contained herein, or to conform to statutes, ordinances, or other regulations 01' requirements 0 f any govl:ll11mental authority, federal at' state, in connection with the performance of this Agreement. In additlon, USER expressly agrees to indemnify, eovel1~ll1t not to sue and hold ha1'lllless the Indemnitees, or any of them, from Md against all liabilities which may be asserted by an employee or former employee of USER; or Elny of its subcOlltractors, as provIded above, for which the USER's liability to suoh employee 01' former (lmpJoyee would otherwise be limited to payments unde!' state Workers' Compensation or similar laws, This Inden1111ty provision shall survive the terminatioll of this Agreement and shall continue in effect until the expiration of th(l cOl'l'espondillg statute of limitations or the tolllng thereof,
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17. n!S!{ QF LOSS: Ex:cep! as set forth in the following sentence, the CITY and TRUST assume no respol1s1billty whatsoever for any pefllOll or propeliy that enters the PREMISES 8S a result of, or in conneotIon with, the EVENT, In considel'ation'ofthe execution of this AGREEMENT by the TRUST, the USER releases the CITY lind the TRUST fl'Om any lind all liability fOl' any loss, Injury, death, theH, damage or destruction to any persons or property which may OCClIl' in or about the PREMISES, USER does not agl'ee to release the CITY or the TRUST fur any a11d all lillbility to the extent sllch liability is determined to be due to the intentional or willful misconduct or negligence of the CITY or the TRUST, or thelr j'espectlve employees 01' agents,
18, (\'ORFEIT OF CANCELLATION: Subject to the force majeure provisions set forth in this Agreement (paragraph 30) all advance sums, 01'
advance payments under this AGREEMENT, shall be forfeited if, through the fault ot' aotion of the USER, the EVENT is not held within the dates and times oontraoted,
19, DEFAULT PROVISION: In the event the USER shall fail to comply with any material term and condition ofthe AGREEMENT 01'
shall fail to perform any of the materlal terms and conditions contained herei11, then the TRUST, at its sole option and in addition to all other rights and legal remedies available to it by law, upon written notice to USER may cancel and terminate this AGREEMENT, (after providing USER with written notice of any materIal breach by USER nnd after allowing "USER an opport~ll1ity of thirty (30) days to cure suoh material bl'each or default) and all payments, advanoes, or other compensation paid by USER pursuant to this Agreement, shall be forthwith retained by the mDST,
20. AWARD OF AGREEMENT: USER represent$ and WlU'I'al1tS to the TRUST that it hilS not employed 01' retained allY person or company elnployed by the TRUST to solicit 01' secure this AGlillEMENT and dlat It has not offered to pay, paid, 01'
agreed to pay any person any fee, commission, percentage, bl'okerage fee, Ot' gift of any kind contingent upon or in connection with, the award of this AGREEMENT,
21. PUBLIC RIl(CORDS: USER understands that the public shall have access, at al! reasonable times, to all documents and information pertaining to TRUST contracts, subject to the provisions of Chapter 119, Flol'ida Statutes, and agl'ees to allow access by the TRUST and the public to all doouments subject to disolosure undel' applicable law, USER's failure 01' Tl;)fusal to comply with the provisions of this s(lctioJ) shall result in the TRUST'S immediate cancelation of this AGREEMENT. USER acknowledges that this tel'minatiollis not subject to oare provisions contained elsewhere in this AGREEMENT.
22. NONDjS{:;RIMINATION: USER shall not discl'iminate against any persons on account of race, coloI', sex, religion, creed, ancestry, natio11al ol'igill, age, handicap, OJ' mal'ital status In the use ofthe PREMISES.
23, AUTHORIZED PERSONNEL: The TRUST shall have authDrized representatives with deoision making authority. reasonably available lit all reasonable times throughout the USE PERIOD for consultation with USER,
24. AUTHORITY TO EXECUTE hGREEMEN'l': Eacb party represents to the othet that it has the power to entel' into the AGREEMENT and that the consent of no other person or entity is required in oonnection therewith, except as otbet'wise pl'ovided, and
Page 8 BPMT!2013 EVENT ENTERTAINMENT GROU.P, INC, Use Agreement
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the AGREEMENT cOlistitutes a valJd and binding obligatlon of (;laoh party in acoordance with the terlnS hereof.
25. RELATIONSHIP OF PARTIES: This AGREEMENT shall 1101 be deemed 01' construed to crente any agenoy l"elationship, partnership, 01'
joint venture between the CITY, the TRlJST and lJSER.
26. NOTICES: Notices requited under the AGREEMENT shalf be deemed to be given when hand·delivered (with receipt therefol'e) or mailed by I"l;lgistered or certified mail, posta,go prepaid, return reoeipt requested,
AS TO USER: Russell C. Faibisoh President & CEO Event Entertainment Group, Ino, 1000 NW 141h Street Mlamf, Florida 33136
27 NONDELEGABILITY
AS TO THE CITY: Johnny Martulez City Manager City ofM!aml 3500 Pan American Dr. Miami, Florida 33133
AS TO THE TRUST: Timothy F. Sohmand Exeoutive Director 301 N. BisoayneBlvd. Miami, Florida 33132
WITH A COPY TOI Victoria Mendez City Attorney 444 SW 2nd Ave. Suite 945 Miami, Florida 331.30
The AGREEMENT may 110t be transferred or assigned by USER without the prior express written consent of the TRUST,
28 GOVERNING LAJY: The AGREEMENT shall be const1'lled accoJ'ding to the laws of the State of Florida and venue shall be in Miami-Dade County.
29, CONFLICTQFlNTEREST: nSER is aware of the oonfliot of interest laws of the City of Miami (Code ofthe City of Miami, Florida, Chapter 2, Article V), of Miaml~Dade County, Florida (Cod.e of Miami-Dade County, Florida (Code of Miami-Dade County, Florida, Seotion 2-11.1) and of the State of Florida (as set forth III Flol'ida Statutes) and agl'ees it will fully comply ill all respects with the tetms of said laws and any future amendments
30. FORCE lI;fAE,mURE The parties shall not be liable to the other for any faJlure to perfot'ln their ~eapectj'Ve obHgatiol1s where such failul'e is caused by conditions beyond their respective cOlltrol, induding, but not limited to, Acts of Nature (including fit'e, flood, earthquake, storm, hurricane 01' otber natural disaster), war, invasion, act of fOl'dgn enemies, events In foreign countries that af1'ect the partles, its citizens, hostilities (whether war is
,Page 9 BPMT/2013 EVENT ENTERTAINMENT GROtJP, INC, Use Agreement
Do0400298
declared Dr !lot), civil war, rebe11iol1, revolution, lnsurj'cctlon, riots, street oelebrations 01' pl'Otests, mllitary ct' usurped power or oonfisoation, tel1wists aotivities, nationalization, government sanotlons 01' restrlotions, blockage, embat'go, labor dispute, strike, lookout 0'1' it1terruption, or the failul'e of services such as electl'icity or telephone,
31. aSSIGNMENT:
(a) Except as otherwise specifically provided USER may not voluntarily or by operation of law, assign, encumber, pledge or otherwise transfer all or atly part of USER'g intel'est in this Agreem()nt, Any attempt by USER to assign all or allY part of its interest and any attempt to subcontract its management duties hereunder (exoept as otherwise speolfically provided in this Section) shall be void and of no force 01' effect (and the parties aolmowledge that the foregoing, is not intended, and shall not apply, to the delilgation of those uSlUl,1 and ollstomary production duties of USER as an evet~t orgattlzer), In the event of any assignment, transfer, encumbrance 01' subcontract, USER shall remain liable for all obligations hereunder and the transferee shall be jointly al1d severally liable for all obligations thereafter arising under this Agreement, Any transfer of a contl'olling interest in USER (whether il1 a single transaction or multiple transaotions) shall be consid()red an assignll1ent of this Agreement. USER recognizes that City andlor Trust identified USER to be the contracted entity in this agreement based on USER's experience and speoifio qtlallf1catlons In opl;lrating this event.
(b) Notwithstanding the foregoing, USER shall have the right to assign 01' transfer this Agl'eemel1t to any of the following (each a "Transferee"):
(1) a successor entity arising from the pUl'chase of, or merger or consolidation; or
(li) an entity that pt)rchMes substllntially all of the assets of USER,
provided In either case aU of the following conditions are met:
1. ' The Tl'al1sfel'ee has a T!\nglble Net Worth In excess of$5,000,000;
·2, The Transfei'ee has nat less than five (5) years' experience In produoing and promoting similar live entertainment events intemationaJly, nationally or regionally (meaning operating 110t less than five (5) live entertainment events ill multipie states or countries during such fivl.\ (5) year period);
3. USER and the Tral)sferee shall ex.ecute <In instrument pUl'sm\nt to which the Transferee assumes all obligations thereafter arising and USER aoknowledges its joint and several liability for all such obligatIons;
4. In EXecutive Director's reusonable determination, the Transfel'<l6 has a good reputation for producing events slmilat' in nature and is an appropriate manager fo\' the event. Executiv(l Director shall advise USER in writing wbether or not this condition foul' (4) has been met within sixty (60) days after having reoelved such information as Exeoutive DiI'ectot' shall reaso11ably request to make the deterrnination. If .Executive Director does not advise USER that the Transferee is unacceptable within such sixty (60) day period, time being of the essence, this condition fOUl" (4) shall be deemed satisfied. . III the event Executive Dil'ectol' advises USER in writing (".Exeoutive Director's Notice") that this oondition foul' (4) has not been met and, if conditions I, 2 and 3 have heen met, then and in that event, USER shall have the right to terminate this
Page 10 BPMT/2013 EVENT ENTERTAINMENT GROUP, INC, Uso Agreement
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Agt'eement by written notice ("Termination Notice") to Executive Dit'ectol' given within thitiy (30) days after the d!lte of Executlve Director's Notice, time being of the essonet), USER's failure to deliver the Termination NotIce within thirty (30) days after Executive Direotor's Notice shall irrevocably oonstitute USER's waiver of its right to t(;)l'minate, Upon termination of the Agreement under this Paragraph, USER shall be entitled to the return of its Security Deposit within 10 days of USER's request thel'6fol'.
The provIsions of paragraphs above shall not pl'(}wnt USER ill the perfol'll'lance of Its business to grant licenses and enter into conoessions and service agreements for the events. Specifioally, USER is autborized to subcontract nonmanagement duties to vendors, so long as suoh VelldOl'S agree to the !nSl.\fanCe Ilnd indemnification provisions contained herein, or USER agrees to cover aoy suoh vendor pursuant to its insuranoe and Indemnification obllgations,
(signature page follows)
Page 11 BPMT/ 2013 EVENT ENTERTAINMENT GROUP, INC, Use Agreement
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IN WlTNESS WHEREOF, the parties h.."reto have IndivIdually and through their propel' corporate official executed the AGREEMENT, this the day and year first written.
W1TNESSES:
A'ITEST:
~,,.." ... ' ....
·ATTEST:
ness, Sign above & print name below if7A41 ~.MT~iN
Page 12
BAYFRONT pARK MANAGEMENT TRUST a limited agency and instrumentality oflhe CityofMlnml
APPROVED AS TO FORM AND CORRE ,TNESS;
, . \~ l S BY: ,(·~_~,~cr· Vi . oria M ndez ~
City Attorney ~~
USER: EVENT ENTERTAINMENT GROUP, INC.
BY:_~~~ RUSSel! C. Faiblsoh, PresIdent
BPMf/20 13 EVENT ENTERTAINMENT GROUP, INC. 'Use Agreement Doc 400298
. . !
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EXHIBIT A
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~ ~ I't,tfl" ff,l\.fIr
tJ,'U
Je
:lNS:ltRANC1'1! .I!l;.EQtJ'mREMEN'l~'li .. SPf!!C1At Ji~VEN"r ~$UIAN"':E ltE"Qt1UtEMENTS ULtRA Mm:[C F£$'rrV .. \.L ~~VENT AT . BA VPRON1:' PAlU{
~, (~M~ul~~~ial Gme~~.llj~W!:lty:( Pl"itwu'}' & N~~ C1}u;t~u.ll.~t(~;ry)
Ai Lirnlt.i ofU~bmty S~)dUy' fnjUll)'al'ldPrUl'·~JI1)' {)~milge Uability E:tl¢:ftO~~lU1~nt~~: . $ t .,flOO.'O{}(1 Oen!it.f-tll Aiiretl,Ue' timi£ 1> 2:.0(!'O,OO() Pltlm'StJ<tgal and A~'\I, I~iur.r .$ 1 ~Oo().{)Of) Pl\"rdu.cl~plel~d ·O.p~mtl~~ $, i ~ooo.ono
a, B:I'ld~:rs¢\t~l~~S R~(,~jlt~
JC;itYl'.lt kUo'«tI'd" ·~$i)"fi"m~t. P.alik M;iIl:mliil'J!wJe~~ rm~t~,;Am~}" c.ct'ps. a,i' gn,g~lt~ti~. mid~eJl':of th~11"'r-~~k'l(."(:tiv(J hrent :f2t1tlU'~~l~ 'M¢J~t'~ ]'ltll!rtnJl1.l'S, &mlilllt~~ nh'isi(:tt1 $.~~ Sutrl!imd~adc~~ n~,d ¢~b f)t"'jhl1:.i~' RIi!$itXt.cd'\r~ ()(fklllr~ P~tl.'liJ!$:, EftIJlt.l)}'~'il~ Vo.lun~'er.s.. Autb(I);:~:z/;!d:
.A.ttt.nt1*~tI;i! Rtiipres~ntathflt~ Us~~ M addhtom'd f.t1tIiUl~~~.~ . (''ol'ltblflt'.t\~ ,fI,nd. ttmb:'It"~'~llm.b:mly l~~mj~$:£~Q.Pin"ti~. tJabiUt)!
u~ UL'udu~B ;\m:~'mtb~kt~~~~i~1U~
:1\. ~il'l1J~ ·df L*~bmty ~dn~t mjury ~)!.~ '.~p#.ltt)' ?M~( IJJlbiilr.y Camhi:o~",d Sin8~~ Lhrrlh J\rty AQto lri:c!~dhj~ trv;~ :~QrilQWwd \jr N~il·Ownil':'d AU~.~rt Any ()t~ .A-t~i(!~1 $ t ~OO().tX>Cl.
B. 1~Jld~~ment3 ~.*:t.'d
C~'~Y of N~~t1i •. a}lyi}'j)Il~' Pit~ ~n~!~~~~i~~ 'nu;Iltl lum) C(1·t]lS '/,'It 'Eilgi~S.~ '!1IM~b ~)t~ libeb' i~~St.l~1Iv~ t~~i~!l~Hl1&ti!Je!, M~rt1berS, ~~~~ ~l~t~~ :otvj~r~,wld $I;d:l\ild~~[;c;!i, l;UliIdi aroh of tb1~it ~e~<llv.tOfna~~t ·D.I~..q,!tnji .Ettl:ptoy~.\f~ Vl,1tw~~ijta.~ AU!tl~)rb!'oo Agf:iI1tS-..tlnd ~{~W!l1lll~i~U~tttlJ;' ti!{tw tls.l))(;(diUt:m~t in#'t~w:ds,
ra, Wijtr~rwN' C~,mpf4till~ltitHl Uil'rlts Gf L~~m~ S~1!~tOit'Y,.'Sf:lll!ll! of n~lQridu
Ern:pjo:r~'~~ Liabilit~'
C, ,1tJmi~' ~'1fL,[tbj,U'ty. $t¥OOO.OOO .R);): I»dj~y bduf)' cau~d: by 1m tledd~ii)J'IIiI~h i.looi~~)t $1.()OO~{)OO fCir l?o.di:ly .h~Uty (:iU~d t,y dis~"a.Sr:. ~b ,e~(lpl(Jyee: $11,{)OOJ)(J(j ret hodiJ.}' ii~~u:Y' cpx:d Illy dl~~~~~ P:,UCY Umtt
;$ i ,OOOyO(JO Iii ~ ;t)O(I,()~O
eny ~f'M~M~~' al.iA>ritl.l~ P~wfJ. M4n~&~m~nt l'n~'J~~ Army CQrps: of 1B1~(I.\ij:t~~ l'U:ld,~b. ,~tthetr're$pe~iw: '~at~t :a;'f:t~~n M"".!ilbt:~ ,Partu!ll\i'~, ual~¢(.1)h~t~stln Ui:l'~tt Su.bst~ia.de':!it m:1id ea1"fh of their' ~\~,~~.Cllf.o/,* QWnl:~t$~ JJ'i1t#~,~~riw E:m,1.o(Y~~~, V~~llil:l!t~~,. A~;~Qti~ Agf,llif$~ ,ifji.td tlt~p:f.e~)mttt~t1i~ 1i:!!too 'I!l;S tl,ddrtIrir~iJ !,l1);f.it~I~~'d~
IiIV" ,tl*~~l'1!lfa ~~(b;iUiy. (.m~~~!W ;l~~~)11W t"t)\I~, :k!~lu:d:lir~g,tt~ltJOl")
/1.., utcniw Q(Uabl.lity .F1w;;h (.l¢~~tiltt.~ 'pOUcya~'il'~iMt':
S9',OO(MlOQ $9~OOI)~,I)oQ
CitY' ¢fMlm:t,~ 'f.b.l~:rmrlt. P~k, M,Ul~~l~~lt 'rMt'r AtflljtC~~ tjt" :l8nSU'letlrltt '£m,d =.qb of tb.!iillt r~,S)'PI1I<.'rt]vi\l~are:!:Itfu},1itles. Mt.'1lIlbe~~~ Pm11l1~nt~ a.nlU~~~, trf,vt~iQn and S1~bji~U~le~ ru:ld ~th .(~t' th~k ~sp~tl,ve' Oftjc,~~ tlh~~t(~m~ $~~~hAidd~:~~ r~ntpt~Y~t V()~~n~~~1J:f Auiliontted AiOO~ Iil'Tld l~pr.c:.~lllJli;l1lws. ItIX~ aJ W/l&rwnal h\Sureds.
"'Wlfh .f~~\¢(J,t to the UmbreUa L:L"bili'l;y' (a:llJ,l$S'..r<'(JUt.jwID81f~tro'~~~h:J1d~ Uq\\'Q~I~. U~~ 1,ll!!:l1l!1 mi~;il'tl:ain tf~ wl ~, 4udn~ th~ I~'llts::o;f tbLl', fl~~~$~ ~~1¢, ~m:ano¢ li~q:I,d~fllent$ ~ a,~ t~qWlt~ undet~· thbt ~i)(jll1 h~\v~ ~h~~, ~.1ti~ to. 'ai ~~"'~~ ~I~d. ~~\~~m, dls'erll:t~\)n\ ~ ~tV ,eu~ (l}~~,cd:y f:JrOCUN ~~ ~ntlUt'$:,'tl.w RfJ,[lWV (:o'V~~U~('I: i* U,!¢'iI:l'~ifi.e&,l{~n~ j~'ttmt}d 1,.\ I:m4er' llii:l,i &~~tiQI~ V or (li) 'U~~lr ~~J :t;fl~~OV~J:''j;~ tilOn~l'l.iC~d fJ~Wf$r~3~ e(''mlt~$$$iilt~W: ti.)
, ' ~Ylfltt
proc~ 'and n~JtI,utin dl,e' Ufil(,l· tc~l of j!l$W'lnn~~ ~l(l-lIl~~J~elU;nli~:r ~ht()i St:c~lcill V. mdudinJ Hqu()i~ ~()v(!l't~~~ ih t~~ ,s:t)~Ulid Umit$; req~d~ !Uld in th~:(It~. 'Qf (I I:) 'btlrm~f~ Vrtltndol' ~hl!!U a!l'fO' ttOfnpl~r ~vi:tb:·tht l."Il!qulMMnt to tlID.1'Ili: th~JCil.'Y' ~lfMi4tflll1)~yf't!Jl'It Parl{ M~c~,~nt Trt.1$t., Ai'n1Y: .Corp$ f.lf e!}i~~(:J~'~f( und eni)b ~lf tl\~lr J~:$lX~titiv~ P1~l1i,"t!t Endti~. MiQln,!btWJ, '~t.I!tners, Il:ftii&:~ DiviiSioo 'o!Imi Sub~lJ:dhni~9. r.tl'ld ()'4lCh ~)r .th~f.t re\'l~M~ OffiC'I2lil, 01~l:f.ctuf.'$j Sha~h(1J.(~.£m~JCY*i(i.m. 'VQh..t~'.Il·Ql'>~ A~~h{;:rb~1 A~!~l$l W'ld R~~51;fftirtl:v~~~
the n.bn~ ~QUCl.j.fl~ $ball::pvovfdt!'b~Clt,y ufMhulJd with lfrlttt'!D. n(@t~~~ n'f" W'iitC~lll'ltir@1n ornu.\.rerlat~bangl~ fl'OIlI. 'th~ i~t~IJtJ'er b'\! ~«!'e~-r'l~l~~,~' wid. pun~y llul\i)'ill:Slo:ns.
CQ.ltl"~ll'lt¢s .~wtrjQrlzed to do bwm~ an ilhe Sti.\l:1e of f'knid\'iI,;. witl1lt,~ :toll~wh~~ quallf1,cadon:ll. snfJ.!! lawe' iilU r'll$~mln~ .p'Ql!!JJ~~ rlfqruj.reil! .iJblirV~:
Th~ ~~rlKlil'pa1iJ;Y ItUl';!l1t ~t lItitH !il~' ~$i tlUltli 'i-iA"':'~ 1lIii/i :tu m~idi1*mm~n~~ . .'1.\:0:1:1 ,it(t: ~~,~ tfuw. >1tC~Ia;~ v~, I~ t~ li1nj.tti.'l«~d ~1~(l!~Ilg,th.,. by Ifb.(!', 1~~~l$'t 4\~i~jil:ln nf l$t1$~'$ l.rulu,rlln~' 'G'Qh!~~ p.ul~it.f~~~~ nYA.,M. lmi CtU.Ufulitl'Y~· Of,dwif.!i1kijl' N~w ~fw'!f."$e:y, tI:l" !it~ t,'4ui!l~tC'n~., AU ·emifie.It~l:\'oI; orltt1'tl:f~(I~ intl~ (In ibeha.lt of £v~~tJr;lnti'l:rla.ilmi:mi.'tl.\lc. afll'~il, lu~ wl m" i6. ~"~r u~ dtt t'1tY ()\f.' ~~n4 r~hi)ifffl.lt P:~.~~ 1'f'lalll1!g~il~~ttt 't',"lIttt,. ({l't ti.S. A..i.'my CrorpSi of' 1~~g~n~lIr.m' $IJ.!td ,entn ~:r t1l:!jm~' ~!Cs;'<eflth'~· ,tn~~l)lwllt~ 01" adtUtt61!M:t hltflitlt'l:l p~~~~J.~t tu tbi.'1l;i: ~.~1n 11~· i!\gr(le;ri!l·\'):nt $~#.~4l"il.d in~~ tf.r m~db~tw~lf» ~Yil'lll En~!~.ftuhlnltm G~UPt f,il~ .ll!(~d :Bnyrl·~~t ~l!4d~ MlUl~g\'JlI\t'$.l.i 1'nu,t itf,) ~J"g tn !fi!:'fWw alid "'·'tlriflt!iliitiruo liY: HUI City !Qf' M,i~.~~/iIIl:U~k:.r%Il1J:~~~~~m'~Qt. 'iU"{t>f .to, '~~·nm,~ ~lJP1~"'n~,. . .
I I
i I I : I I
CORPQRt\l'V: RESPLUTION
Whereas, EYent EXl.re~tfljnment G('onp, be" desires to enter Into an Agreement with the Bayfl'ont Park Management Trust substantially In the form of the agreement to which this Resolution is attached;
Whereas, the Board of Dtl'ectors, at a duly held meeting has considered the matter in acoordance with the By-Laws of the Corporation;
NOW, THEREFORE, BE IT RESOLVED BY BOARD OF DIRECTORS that this Corporation is authorized to enter into the Agreement with the Bayfl'ont Park Management Trust and the President, Rlulflell C, Pathisch, is hereby authorized and directed to execute the Agreement In the name of this corporation and to exeoute any other documents and peJ'fOl'jt) any acts in connection thel'ewith as may be required to accomplish Its purpose,
IN WITNESS WHEREOF, this --'- day of Mo.vrh 2D14,
BY: ~~~. Russell C, Paibisch, President
BY:._~_
Charles Faibisch, Directol'
Affix Corporate Seal
Page 16 BPMT/ 2013 EVENT ENTERTAINMENT GROUP, INC, Use Agreement
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ACORD® .~. CERTIFICATE OF LIABILITY INSURANCE '1 OAT2 (MMlCOiYYV'I)
03/07/2014 THIS OERTIFICATe: IS ISSUED AS A MATTER OF'INFORMATION ONLY ANO·CONFERS NO RIGHTS UPON THE CERTIFICATE HOl.DER. THIS CI:;~IIPICATE DOES NOT AFFJ~MATIVeLY OR NEGATIVELY AMEND, EXTeND OR AI.,TfSR, TH):;: COVSRAGe AFFORDED BY THE POLICIEiS SELOW. THIS CERTIFICATS OF INSURANCE 001':5 NOT CONSTITUTE A CONTRACT aETwe:EN TH'i' ISSUING INSURE"($), AUTHORizeD REPR~I!NTArIVE OR PRODUCER, AND THE CERTIFICATE HO~OER. IMPORTANT: If th<a olir\iflcf.lt& holder 1$ an ADDITIONAL rNI;lURED, tJiil polloy(l&e) mU1i1 be endorsed. If SUBROGATION IS WAIVED, 3ubj&ct to the torms and conditIons Of the polloy, certain poUci6S may require an endorsem011t. A statement em tI11s cef'tifh:mta dOG9 not oonfer rlghhl to tho oartlffoatQ holdar In IIQu of su~h GndorsGman t(s·). ' .
PRODUCER
Macpherson Insurance Agancy ~~a" Hod"'"
• 305.669.5288 I rAl~, N~l: 305.669.521 S 55 Marriok Way, Suite 408 malJ@maoe~.§!.gancy.com Coral Gables, FL 33134 INSURSR!S! AFFORCINCl Oo~~~ClI!!. NAla ~
IN$UR~RI\: T,H.E Insurance Compmny INS~R5D INSURERS:
EVent Entertl'1inment Group, Inc. & Ultra Enterprises Inc. IN3UReRO: 1000 NW 14th Street INSUR~RD ,
IN$URSR E: - -MiamI FL 33136 IN~IJ~.~.p,
COVERAGE!S CERTIFICATE NUMSER' 01 - , REVISION NUMBER' 01 THIS 18 TO CeRTI~Y THAT THE PO~ICIES OF INSUAANS.~ LISTED BELOW HAV!'! aSSN ISSUED TO THE INSURED NAMSD ABove FOR THE POliCY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONOITION OF ANY CONTRACT OR OTHli!R DOCUMIliN'T WITH RESPgCT TO WHICH THIS CERTIFICATIS MAY B" ISSUSD OR MAY PeRTAIN, THJ;l INSUAANQIii AFFORDE:O SY THE POLICIES DESCRIBED I'IERBIN IS SUBJECT 1"0 A~L THe T~RMS, EXCLUSIONs AND COillDiTIONS OF SUCH i"OLI CIJ:S. FltA1TS SHOWN MAY HAVE ElEEN REDUCED BY MID CLAIMS.
I~m TYP~ Of INSUMN¢~ I~~~F=' POLICY NUMBER II&EIL~%JYWY' ,~~r6'6M% LIMITS
A ~ COMMERCIAL GENERA~ UASILliY )( CPPOi 04022-00 2127/2014- 2/2712015 ~ l.
1,000,000
- o CLAIMS·MAOE 0 oOCllR $ 100,000 MEiD flXP (AhY onG pnrsonj $ 5,000 rI- Ug 000-$1 mm LJg AG9-$1 mrr PERSONAL & ADV INJURY ~ 1 000,000
~'L AGGR~(jAT11 LIMIT APPLIEB peR; ~EN5RAL AGGREGATE $ 2,000;000 x POLicY 0 ~~~r 0 LOO ~ROOUCTS • COMPIOP Mil $ 1,000,000
OTHER: $
A AUTOMOBilE LIABILITY l\ CPP01Q4022-00 2/27/20'14 2/2"l/2015 %~~~~~~t~IN(JLE! LIMIT $ 1,000,OOQ
~
ANY AUTO BoDILY INJURY (p~rp.r1\Onl ~ - ALLgWNF.D ,.- $cl-!EloULeo BODILY INJURY (Peracclct~hl) $ - AlIT 8 I--- AIJTOS
~ HII'1~DAUTOS ~ NON·OVloN8D r!'~~;cI1r.r;t~i\MI\Cl~ $ AUTOS
$
A UMIlR~LLA LIAB P1 OCCUR X ELF'OOi 1573-00 2127/2014 2/27/2015 EAOH OOCURRENOE $ 9 000,000
I-- - 9,000:000 x IlXCMS LIM OLAIMS-MADE AGGRE(GArE t. peD I I RETeNTION $
~ . " \\If""' $ WORKERS COMPENSATION
~"~ ~Q' ~ r11"V I ~~UTE I I W~H" AND EMPLOyeRS' LIABILITY YIN --
~y PROPRIE:TOR/PARTN5R1llXscUTlve 0 NfA I ~ E.L. EACH i\CCID6NT $
O~fICEiRIMCM6ER EX,CLUDHD? , ~(~;;;;-;-: JO} IOMPLOY5< (MaI1dntor:v In N!:II <1 ~/(./ $
g~Mrt~rt8~ ~~~J>6~ATIONS b.low E,L. DISEAsE. POLICY LIMIT .1.._
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DIlSCRIIITlOIJ OF OP~RATIONS I LOOATIONS f VI:HICt,ES (ACORD 101, AddUionol R~m~t1<ij Sull.dulo, roPy bll.Wtr.h.~ If mar. sp oe Is roqufrud)
Addltlonallnsureds: The City of Miami, The Bayfront Park Management rust, and each of the respective Parent EntIties, Members, Partners, Affiliates, Divisions and Subsidiaries, and ElSch of their respective Officers, Directors. Shareholders, Employ.ees, Volunteers, Agents and Re r..esentatlves, and the Army Corps of Engineers, General liability coverage includes contingent snd contractual liabilities, alld is primary and non-contributory to other insurances available to additional ineur'eds. Excess liability is following form baSis. CElRTIFICATfi HOLbER
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CE!RTfFICATE: HOLDER CANCELLATION l3AYFRONT PARK MANAGEMENT TRUST & THE SHOULD AllY a~ THe ABOVE DESORISED POI.IGI~6 BE CANC8LLED SF-FOREi THE ElI.PIRATION CITY OF MIAMI DATE THEREOF, NOTlC~ WILL BE OELIVERED IN ACOORDANce WITH THE POLICY 301 NORTH BISCAYNE BLVD PROVISION a, aUt FAILURe TO MAIL UUOH NOTloe eHALl. IMPOSE NO OBLIGATION OR MIAM[, FL. 33132 LIASIUTY or- ANY ~INP IJPON TH~ aQM~ANY,lra AGaNTS OR RgPRF.6I!NTATIVJ;;~,
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weg . The Washington
: Economics Group, Inc. '
THE COMPREHENSIVE ECONOMIC IMPACTS OF
THE ULTRA MUSIC FESTIVAL
ON THE MIAMI-DADE COUNTY ECONOMY
Submitted to:
Ultra Music Festival
April 30, 2012
2655 LeJeune Road, Suite 608 Coral Gables, Florida 33134
Tel: 305.461.3811 - Fax: 305.461.3822 [email protected] www.weg.com
T ABLE OF CONTENTS
I. EXECUTIVE SUMMARY ............................................................................................................ 1
II. BACKGROUND: THE ULTRA MUSIC FESTIVAL ...................................................................... 3
A. The Presence of the Ultra Music Festival Provides Externality Benefits that go Beyond the Quantification of Economic Impacts ......................................... .4
B. Ultra Music Festival Data and Methodology ............................................................ 6
III. THE RECURRING, ANNUAL QUANTIFIABLE ECONOMIC IMPACTS OF TIlE ULTRA MUSIC FESTIVAL ON MIAMI-DADE COUNTy ......................................................................... 9
A. Employment Impacts: The Operations and Visitor Expenditures Associated with Ultra Music Festival Support 915 Jobs in Miami-Dade County ..................... 10
B. The Operations and Visitor Expenditures Associated with the Ultra Music Festival Generate Important Contributions to Labor Income in Miami-Dade County .......... .................................................................................................. 11
C. The Operations and Visitor Expenditures Associated with the Ultra Music Festival Generate Important Contributions to Gross Domestic Product (GDP) . ..................................................................................................................... 12
D. The Total Economic Impact of the Ultra Music Festival is a Significant $79 Million Annually . ..................................................................................................... 13
E. The Operations and Visitor Expenditures Associated with the Ultra Music Festival Generate Important Contributions to Public Revenues Each Year ........... 15
ApPENDIX I: lWETHODOLOGY ........................................................................................................ 16
ApPENDIX II: ECONOMIC GLOSSARY ............................................................................................. 19
APPENDIX III: DETAILED IMPACT TABLES ...................................................................................... 21
ApPENDIX IV: THE WASffiNGTON ECONOMICS GROUP, INC. PROJECT TEAM AND QUALIFICATIONS ............................................................................................... 27
LIST OF TAULES AND FIGURES
Tables
Table ES-l. Summary of the Annually Recurring Economic Impacts Generated by the Ultra Music Festival ..................................................................................................................... 1
Table 1. Average Out-of-Town Visitor Expenditures ...................................................................... 8
Table 2. Summary of the Annually Recurring Economic Impacts Generated by the Ultra Music Festival. .................................................................................................................... 9
Table 3. Permanent Jobs Supported by the Ultra Music Festival ................................................... 10
Table 4. Labor Income Generated by the Ultra Music Festival. ..................................................... 11
Table 5. Gross Domestic Product (Value Added) Generated by the Ultra Music FestivaL ........... 13
Table 6. Total Annual Economic Impacts Generated by the Ultra Music Festival ........................ 14
Table 7. Fiscal Contributions Generated by the Ultra Music Festival Each Year .......................... 15
Figures
Figure 1. Jobs Supported by the Ultra Music Festival ..................................................................... 10
Figure 2. Labor Income Generated by the Ultra Music FestivaL .................................................... 12
Figure 3. Gross Domestic Product (Value Added Generated by the Ultra Music Festival. ............. 13
Figure 4. Total Annual Economic Impacts Generated by the Ultra Music Festival. ....................... 14
~ -------======================= 11
I. EXECUTIVE SUMMARY
D The Ultra Music Festival is a top asset of the Entertainment and Visitor Industry in Miami-Dade County. The Festival generates significant and quantifiable economic impacts for the local economy in the form of the generation of employment (jobs), Labor Income, fiscal revenues and overall economic impact.
o The Washington Economics Group, Inc. (WEG) has been retained to prepare an independent Study quantifying the economic impacts generated by the Ultra Music Festival which, for the purposes of this analysis, are derived from the operational expenditures incurred by the event organizers and out-of-town visitor expenditures associated with the Festival in 2011.
o The quantifiable economic impacts of the Ultra Music Festival on Miami-Dade County include the support of hundreds of jobs and significant contributions to Labor Income, Gross Domestic Product (GDP) and fiscal revenues. This Study estimates that the Ultra Music Festival supports 915 jobs annually in Miami-Dade County with an economic impact of $79 million each year. These positive impacts for MiamiDade County are presented in Table ES-l below.
Table ES-l. Summary of the Annual Recurring Economic Impacts Generated by the Ultra Music Festival
Impact on: Direct Indirect & Total Induced 1m act
Employment (Jobs) 596 319 915
Labor Income ($ Million) $19 $14 $32
Gross Domestic Product (Value Added $ Million) $25 $25 $50
Federal, State & Local Tax Revenues ($ Million) $12
T~tal Ecor:.omic Impac,~~~_~l~on) $40 $39 $79
Source: The Washington Economics Group, Inc.
o As shown in Table ES-l above, the Ultra Music Festival is also responsible for generating $32 million in Labor Income and $50 million in GDP contributions each year in Miami-Dade County.
o These important economic impacts, due to the annually recurring presence of the Ultra Music Festival in Miami-Dade County, were estimated using the professionally accepted and widely used IMPLAN methodology. A detailed explanation of the estimates as well as an explanation of the methodology used can be found in Section III and Appendix II of this Study.
o Additionally, the Ultra Music Festival generates externality benefits that include the improvement of Miami-Dade County's reputation as a global destination while also
~==~~~==~~-~." ~~"~====~~~======~~~~====~~======~~
The Washington Economics Group, Inc. I Page 1
improving the quality of life for Miami-Dade County's residents by adding to the region's cultural, arts and social amenities.
o Events like the Ultra Music Festival bring large numbers of visitors to South Florida from around the world and showcase the community. Further, the yearly Festival supports the economic development strategy of Miami-Dade County and the State of Florida by strengthening the targeted Entertainment and Visitor Industry and the entertainment sectors that enhance and solidify Miami-Dade County's comparative advantage within these important industries.
o The Ultra Music Festival's yearly presence is a positive force and a key addition as it builds on Miami-Dade County's global brand as a top entertainment and leisure destination for both domestic and international visitors. As such, the overall economic development value of the Ultra Music Festival goes beyond the quantification of its important economic impacts. The overall value of the Festival as an important Entertainment and Visitor asset and draw for Miami-Dade County is the sum of both the externality benefits to the County and the quantification of economic impacts as previously presented. This is illustrated in the Matrix below.
Job Impacts
Economic Development Impacts of the Ultra Music Festival: An Entertainment and Visitor Asset of Miami-Dade County
'''1',0-",,· ···)6;li',
Ultra Music Festival·····:";:
Operations & Visitors
J---:-:~ Quantifiable Direct, 4
Indirect and
Labor Income Impacts
Improved Entertainment
and Visitor Amenities,
Positive Externality Effects
Enhanced Reputation for Industry and
Entertainment Cohesion
Total Economic Development Impacts
Quantifiable Direct, Indirect and Induced Eco~omi~Ilnp~cts"' +
Positive Externalities
The Washington Economics Group, Inc.
Improved Standard of
Living
I Page 2
II. BACKGROUND: THE ULTRA MUSIC FESTIVAL
The Ultra Music Festival is a significant generator of economic activity and an important
asset to the Entertainment and Visitor Industry cluster in Miami-Dade County. The Ultra
Music Festival is an electronic music festival that has been housed in various outdoor
locations throughout Miami-Dade County over the past 13 years. Currently, the Festival
takes place over a 3-day weekend period in the month of March, and it brings renowned
world-class artists and music perfonners that attract thousands of visitors to Miami-Dade
County. In addition to attracting tens of thousands of visitors from around the world, the
Ultra Music Festival promotes the image of Miami-Dade around the globe as a world-class
destination, thereby making the Festival an important catalyst of economic activity in the
Entertainment and Visitor Industry cluster within the County.
Electronic music is one of the most popular and fastest growing music genres in the world,
and the Ultra Music Festival is recognized as one of the premier festivals of its kind. The
Ultra Music Festival showcases some of the most popular perfonners in the genre of
electronic music. Such an important festival attracts thousands of visitors to Miami-Dade
County. In fact, it is estimated that more than 165,000 individuals attend the Festival
throughout the 3-day weekend, and close to 60 percent of them are from outside of
Miami-Dade County.
Miami-Dade County has identified the Entertainment and Visitor Industry cluster as one of
the targeted industries for the economic development of the County. The Ultra Music
Festival generates significant economic activity in both of these industry sectors
, -The Washington Economics Group, Inc. I Page 3
through its operations and the expenditures by the out-of-town visitors that the Festival
attracts.
The Ultra Music Festival generates an economic impact that translates into the creation and
support of hundreds of jobs, the generation of millions of dollars in Labor Income and
contributions to GDP, as well as additional fiscal revenues for federal, state and local
governments.
The Ultra Music Festival has grown to become a key economic development asset of
Miami-Dade County and in South Florida's growing Entertainment and Visitor cluster.
The Festival is an unparalleled music event combining a major world-class electronic
music festival with musical headliners from around the globe. The Ultra Music Festival
is an entertainment asset not only to the residents of Miami-Dade County, but to the
national and international visitors who frequent the region.
A. The Presence of the Ultra Music Festival Provides Externality Benefits that go Beyond the Quantification of Economic Impacts
The quantitative analysis that follows in Section III estimates the economic impacts of the
Ultra Music Festival as a result of the Festival's operations, activities and out-of-town visitor
expenditures. The benefits of having a unique, world-class attraction such as the Ultra Music
Festival in Miami-Dade County also yield unquantifiable, but important, economic
development benefits described by economists as externality benefits. These significant,
intangible benefits not only accrue to the County, but to the entire region as well, and assist
in the promotion and reputation of Miami-Dade as a global destination that possesses a
vibrant and inviting visitor industry.
An important externality benefit generated by the Ultra Music Festival on Miami-Dade
County is its enhancement of the Entertainment and Visitor Industry cluster by improving the
reputation of Miami-Dade County as a top visitor destination and by adding another
entertainment amenity that attracts many visitors to the County. The Ultra Music Festival's
yearly presence is a powerful magnet that brings visitors and music talent from across the
globe not only to Miami-Dade, but to the entire South Florida region. The economic impact
created by the Ultra Music Festival and the entertainment event that it represents increases
the quality oflife for Miami-Dade County residents. The positive economic impacts generate
jobs and increased incomes for Miami-Dade residents while the presence of the Ultra Music
Festival also signifies an additional entertainment option for residents of Miami-Dade as well
as for visitors to the area.
The Washington Economics Group, Inc. I Page 4
In summary, the Ultra Music Festival generates benefits to Miami-Dade County that extend
beyond the positive quantifiable impacts estimated in this analysis. The positive impacts
generated by the Ultra Music Festival also include externality benefits that promote Miami
Dade as a top visitor destination and enhance the quality of life for the County's residents
while also improving the business climate of the County. The matrix below illustrates the
externality benefits of having such an important entertainment attraction in Miami-Dade
COlmty on a yearly basis, indicating the positive economic development and social impacts
generated by the Ultra Music Festival.
Job Impacts
Economic Development Impacts of the Ultra Music Festival: An Entertainment and Visitor Asset of Miami-Dade County
Quantifiable Direct,
Indirect and
Labor Income Impacts
Ultra Music Festival
Improved Entertainment
and Visitor Amenities
Positive Externality Effects
Enhanced Reputation for Industry and
Entertainment Cohesion
Total Economic Development Impacts
Improved Standard of
~ :,:-,.~.;:.\ 'l.'-<
i"~, I ~:' '/:::
Quantifiable Direct, Indirect and Induced Economic Impacts +
The Festival serves as an amenity that contributes to Miami-Dade as a strong and growing
Entertainment and Visitor destination. These so-called "externality benefits" that the Ultra
Music Festival generates for the County and also for the regional economy are in addition to
the important economic impacts that are quantified and discussed in Section III of this Study.
The Washington Economics Group, Inc. I Page 5
B. Ultra Music Festival Visitor Data and Methodology
The Ultra Music Festival generates both tangible and intangible economic benefits for
Miami-Dade County. The following two main factors contribute to the Festival's
comprehensive and quantifiable economic impact in Miami-Dade:
• Increases in revenues for hotels, restaurants, retail and entertainment establishments, which in part translate into ...
• The generation and support of thousands of jobs and millions in Labor Income and GDP contributions in Miami-Dade County as well as additional fiscal revenues for federal, state and local governments.
The impacts contained in this analysis were estimated based on data from the 2011 Ultra
Music Festival and by utilizing the input-output methodology IMPLAN, a professionally
accepted and widely-used methodology which determines the economic impacts of specific
activities. The employment (jobs), Labor Income, fiscal revenues and economic impacts that
are generated by the Ultra Music Festival result in quantifiable benefits to Miami-Dade
County.
Methodology
Economic models that explicitly account for inter-industry linkages (supply relationships),
the generation of labor and capital income and the spending of household income have been
used since the 1960's to estimate the contribution that a particular business or industry makes
to the general economy. These "input-output" models recognize that, as an industry
experiences an increase in the demand for its products or services, it in tum needs more
goods and services from its suppliers and must increase its purchases from other industries in
the economy. The effect on regional production resulting from successive rounds of inter
industry linkages is referred to as the indirect effect. The resulting increases in regional
production also lead to expansions in employment and labor income, and the increases in
labor income lead to increases in consumer spending, further expanding sales and production
throughout the regional economy. The latter economic impacts are referred to as the induced
effects. The successive waves of production, spending and more production result in
economic multiplier effects, where the final or total increase in regional production, income
and employment, respectively, is larger than the initial (or "direct") increase in production,
income and employment. The total quantitative economic contribution of these activities,
therefore, is comprised of a direct effect, an indirect effect and an induced effect.
" -The Washington Economics Group, Inc. I Page 6
In addition to these quantifiable benefits, the operations of the Ultra Music Festival and out
of-town visitor expenditures provide important external benefits to the County and region as
well. Among these are the enhancement of the County's Entertainment and Visitor Industry
clusters, and the promotion and advertisement of Miami-Dade as a world-class destination
for both domestic and international visitors, which also supports and adds to the region's
tourism, hospitality and entertainment opportunities.
The operations of the Ultra Music Festival, along with the associated out-of-town visitor
expenditures, generate economic impacts that extend beyond those directly related to the
operations of the Festival. These "spillover" or multiplier impacts are the result of each
business activity's supply relationships with other finns operating within the community, the
proportion of income that accrues to households in the form of labor and capital income, and
the propensity of these households to spend the income earned on goods within Miami-Dade
County. For the purposes of this analysis, WEG has identified the two main activities that
generate the economic impact attributable to the Ultra Music Festival:
• The first activity includes the operational expenditures incurred by event organizers, artists and the perfonners associated with the Festival. These expenditures amount to a total of $11.5 million 1.
• The second activity includes the expenditures made by out-of-town visitors that attend the Festival. The impact associated with these expenditures is attributed to the Ultra Music Festival because the event is the reason that these individuals come to MiamiDade County for the duration of the Festival.
These out-of-town visitors, of either domestic or foreign-origin, make other significant
tourist-related expenditures during their stay in South Florida. The Greater Miami
Convention & Visitors Bureau (GMCVB) conducts periodic surveys of visitors to the
community, collecting a wide range of information about these visitors and about their stay
in the area. WEG utilized the Bureau's data as part of this analysis to calculate the total
economic impact of the Ultra Music Festival on Miami-Dade County.
Based on data provided by the Festival organizers, WEG has estimated the daily attendance
to be 55,000 individuals and as previously mentioned, 60 percent (33,000) are out-of-town
visitors. To calculate total expenditures, WEG multiplied the number of out-of-town visitors
by the average daily expenditure for each category provided by the GMCVB. These
categories of visitor expenditures are expenses associated with Lodging, Meals,
I Data provided to WEG by the Ultra Music Festival organizers.
-The Washington Economics Group, Inc. I Page 7
Transportation, Entertainment and Shopping, for example. Table 1 below summarizes the
out-of-town visitor expenditures attributable to the Ultra Music Festival.
Table 1. Average Out-of-Town Visitor Expenditures
Category Daily Average Multiplied by Ex enditures 33,000 Visitors
Lodging $78.0 $2,574,176
Meals $53.2 $1,756,548
Transportation $16.6 $546,782
Entertainment $31.9 $1,052,138
Shopping $84.9 $2,801,489 ----,---
Source: The Greater Miami Convention & Visitors Bureau and The Washington Economics Group, Inc.
The Washington Economics Group, Inc, I Page 8
III. THE RECURRING, ANNUAL QUANTIFIABLE ECONOMIC IMPACTS OF THE ULTRA
MUSIC FESTIVAL ON MIAMI-DADE COUNTY
Utilizing the direct economic impacts discussed in Section II of this Study (operational
expenditures and out-of-town visitor expenditures), the indirect and induced economic
impacts of Ultra Music Festival were calculated using the extended input-output model of the
Miami-Dade County economy. These comprehensive direct, indirect and induced economic
impacts are summarized in Table 2 below.
The Ultra Music Festival generates a significant economic impact in Miami-Dade
County. The Festival is responsible for supporting 915 jobs, generating more than $32
million in Labor Income, $12 million in federal, state and local fiscal revenues and close
to $50 million in contributions to Gross Domestic Product (GDP) for a total economic
impact of $79 million each year. Furthermore, the overall economic impact of the Ultra
Music Festival is comprised of direct impacts, which generate 596 jobs, close to $19 million
in Labor Income and almost $25 million in contributions to GDP and a total direct economic
impact of $40 million. Indirect and induced effects generate 319 jobs, more than $14 million
in Labor Income and $25 million in contributions to GDP for a total indirect economic
impact of $39 million every year.
Table 2. Summary of the Annually Recurring Economic Impacts Generated by the Ultra Music Festival
Impact on: Direct Indirect & Total Induced 1m act
Employment (Jobs) 596 319 915
Labor Income ($ Million) $19 $14 $32
Gross State Product (Value Added $ Million) $25 $25 $50
Federal, State & Local Tax Revenues ($ Million) $12
Total Economic Impact ($ Million) $40 $39 $79
Source: The Washington Economics Group, Inc.
The analysis that follows presents the detailed quantifiable economic impacts of the Ultra
Music Festival, as summarized in Table 2 above, in tem1S of employment, Labor Income,
contributions to GDP, fiscal revenues and total economic impact generated in Miami-Dade
County.
". . The Washington Economics Group, Inc. I Page 9
A. Employment Impacts: The Operations and Visitor Expenditures Associated with Ultra Music Festival Support 915 Jobs in Miami-Dade County
One of the key components of the overall economic impact of the Ultra Music Festival is the
employment that the Festival supports. The Ultra Music Festival creates and supports 915
employment positions (jobs) in Miami-Dade County. Direct effects account for the creation
of 596 jobs while indirect and induced effects are responsible for supporting 319 jobs (Table
2, page 9). Table 3 below shows the breakdown of the jobs created in each industry.
Table 3. Permanent Jobs Supported by the Ultra Music Festival
Industry
Knowledge-Based Services
Visitor Industry
Retail Trade
Wholesale Trade and Transportation Services
Government and Other
Construction and Manufacturing
Total:
Su Jobs
orted 537 225 112 21 13
8
915
% of Total
59
25 12 2
1
100 -----------... ---------~~--~--~~~~~~~---~~---Source: The Washington Economics Group, Inc. See Table A-I in Appendix II.
Note: Total may not equal the sum of all because of rounding.
Jobs Supported by the ultra MUsic Festival
Figure 1 Source: The Washington Economics Group, Inc.
Jil' Knowledge-Base.d Services
~ Visitor Industry
IJ Retail Trade
Il Wholesale Trade & Transportation Services
iii! Government &. Other
i.J: Construction and Manufacturing
Figure 1 above presents the percentage distribution of the jobs generated and suppOlted by
the Ultra Music Festival in each industry category. However, the majority of these jobs are
concentrated in the Knowledge-Based Services and Visitor Industry sectors, with 59 percent
=~ ... ,~~~==~----------~==----------~~~=-======----The Washington Economics Group, Inc. I Page 10
(537) of the total number of jobs generated in the Knowledge-Based Services sector, and 25
percent (225) generated in the Visitor Industry. This demonstrates the importance of the Ultra
Music Festival to Miami-Dade County as most of the jobs are generated in industries that
have been targeted as key for the economic development growth of the County by The
Beacon Council, Miami-Dade's economic development organization. A smaller, but
significant, number of jobs are also created in the Retail Trade, Wholesale Trade and
Transportation Services, Government, Construction and Manufacturing sectors.
B. The Operations and Visitor Expenditures Associated with the Ultra Music Festival Generate Important Contributions to Labor Income in Miami-Dade County
Labor Income is defined as employment and proprietor income. Employment income is the
total amount of compensation provided to workers (wages and benefits) while proprietor
income is the income accrued by the owners of local firms and businesses. As quantified in
Table 4 below, the jobs created and supported by the Ultra Music Festival generate more than
$32 million in Labor Income each year. Direct impacts account for close to $19 million, or
55 percent of the total while indirect and induced impacts are responsible for the remaining
45 percent ($14 million). (See Table 2, page 9.)
-I.~. Labor Income Generated b the Ultra Music Festival ($ in Thousands)
lndustry Total Impact % of Total
Knowledge-Based Services $19,341 60
Visitor Industry 6,654 20
Retail Trade 3,568 11
Government & Other 1,260 4
Wholesale Trade & Transportation Services 1,131 3
Construction 217
Manufacturing 198 ----Total: $32,370 100
.--~-------------Source: The Washington Economics Group, Inc. See Table A-2 in Appendix II. Note: Total may not equal the sum of all because of rounding.
Figure 2 on the next page demonstrates that the Labor Income generated is concentrated in
two-targeted industry sectors. The Knowledge-Based Services sector significantly captures
more than $19 million, or 60 percent of the total Labor Income generated, while the Visitor
Industry captures close to $7 million, or 20 percent, of the Labor Income generated. The
Retail Trade, Government & Other, Wholesale Trade & Transportation Services,
Construction and Manufacturing sectors also benefit from the Festival's activities and its
visitors.
The Washington Economics Group, Inc. I Page 11
labor Income Generated by Ultra Music Festival
3%1%1%
Figul'e 2 Source: The Washington Economics Group, Inc.
loll Knowledge-Based Services
IiiIVisltor Industry
I;l Retail Trade
Iii! Government & Other
,Iill Wholesale Trade &
Transportation Services
WI Construction
1+1 Manufacturing
C The Operations and Visitor Expenditures Associated with the Ultra Music Festival Generate Important Contributions to Gross Domestic Product (GDP)
The economic impact generated by the Ultra Music Festival includes the creation of value
added, or contributions to GDP. Gross Domestic Product, often referred to as value added by
economists, arising from the Festival is another measure of the economic development
benefits for Miami-Dade County that result from the Festival. Value added is the total
amount of GDP generated because of the Ultra Music Festival's operations and associated
visitor expenditures. GDP is the portion of business revenues that is available to pay
compensation to workers, capital income and indirect business taxes2. The activities of the
Ultra Music Festival generate close to $50 million in contributions to GDP each year. Direct
impacts are responsible for the generation of $25 million, while indirect and induced impacts
generate the remaining $25 million. (See Table 2, page 9.)
Table 5 and Figure 3 on the following page highlight the value-added impacts created by the
operations and visitor expenditures associated with the Ultra Music Festival. The
contributions to GDP generated by the Ultra Music Festival are concentrated in a few key
industry sectors. More than $29 million in contributions to GDP or 59 percent of the total are
generated in the Knowledge-Based Services sector. Slightly above $11 million, or 22
percent, are generated in the Visitor Industry and $5 million is generated in the Retail Trade
sector. Smaller but significant contributions to GDP are generated in the Government &
Other, Wholesale Trade & Transportation Services, Manufacturing and Construction sectors.
2 Value added also includes compensation to government workers.
~ === --The Washington Economics Group, Inc. I Page 12
Table 5. Gross Domestic Product (Value Added) Generated by the Ultra Music Festival ($ in Thousands)
Industry Total Impact % o/Total
Knowledge-Based Services $29,212 59
Visitor Industry 11,057 22
Retail Trade 5,011 10
Government & Other 1,845 4
Wholesale Trade & Transportation Services 1,790 4
Manufacturing and Construction 655 1
Total: $49,570 100
Source: The Washington Economics Group, Inc. See Table A-3 in Appendix II.
Fig~r~3
Gross Domestic Product (Value Added) Generated by the Ultra Music Festival
~. Knowledge-Based Services
iii Visitorlndu5try
iJ Retail Trade
iii' Gavernment& Otlu"r
Iii Wholesale Trade &
Tran5portationServices
Y Manufacturing and Con5truction
Source: The Washington Economics Group, Inc.
D. The Total Economic Impact of the Ultra Music Festival is a Significant $79 Million Annually
The total economic impact of the Ultra Music Festival amounts $79 million annually.
Through the Festival's activities, operations and out-of-town visitor expenditures, the Ultra
Music Festival is responsible for generating transactions among businesses in targeted
industries and also among consumers in Miami-Dade County that are valued at millions of
dollars in overall contributions. Of this total, $40 million or 51 percent is generated by direct
impacts, while an additional $39 million or 49 percent is generated through indirect and
induced impacts. (See Table 2, page 9.) Table 6 on the following page highlights the annual
total economic impact of the Ultra Music Festival.
The Washington Economics Group, Inc. I Page 13
Table 6. Total Annual Economic Impacts Generated by the Ultra Music Festival ($ in Thousands)
Industry Total Impact % of Total
Knowledge-Based Services $45,368 57
Visitor Industry 19,026 24
Retail Trade 7,124 9
Government & Other 3,015 4
Wholesale Trade & Transportation Services 2,556 3
Manufacturing 1,344 2
Construction 527 1
Total: $78,960 100
Source: The Washington Economics Group, Inc. See Table A-4 in Appendix II.
As is the case with the employment, Labor Income and Value-Added created, the greater part
of the economic impact generated by the Ultra Music Festival in Miami-Dade County is
concentrated in the Knowledge-Based Services and Visitor Industry sectors. The Knowledge
Based Services sector captures more than $45 million, or 57 percent, of the total economic
impact. The Visitor Industry captures over $19 million, or 24 percent of the total. The
remaining impact is distributed over the Retail Trade, Government & Other, Wholesale
Trade & Transportation Services, Construction and Manufacturing industry sectors, which
receive smaller, but still significant impacts from the Festival. Figure 4 below presents the
percentage distribution in each industry category.
Total Annual Economic Impacts Generated by the Ultra Music Festival
Figure 4 Source: The Washington Economics Group, Inc.
The Washington Economics Group, Inc.
IIOlI Knowledge-BasedServices
Iii! Visitorlndustry
IJ Retail Trade
1011 Government & Other
\iii Wholesale Trade & Transportation Services
U Manufacturing
U Construction
I Page 14
E. The Operations and Visitor Expenditures Associated with the Ultra Music Festival Generate Important Contributions to Public Revenues Each Year
In addition to the various economic impacts presented, the yearly presence of the Ultra Music
Festival in Miami-Dade County generates important fiscal revenues (the taxes and fees
collected by governments) for federal, state and local governments. The addition of jobs,
Labor Income and contributions to GDP in Miami-Dade County generates fiscal revenues in
the forn1 of labor, capital, household, corporate and indirect business taxes. The economic
impacts generated by the Ultra Music Festival translate into a significant contribution of
close to $12 million in additional fiscal revenues each year as shown in Table 7. Of this total,
the federal government collects over $7 million while state and local government entities
collect more than $4 million.
Table 7. Fiscal Contribntions Generated by the Ultra Mnsic Festival Each Year $ Thousands)
Taxes Paid By Federal StatelLocal Taxes Taxes
Labor $3,330 $26
Capital $181 $0
Indirect Business Taxes $777 $4,167
Households $2,120 $134
Corporations $865 $52 ---- --Total: $7,273 $4,379
Total Taxes
$3,356
$181
$4,944
$2,254
$917
$11,652 ---., ------_._--_._---Source: The Washington Economics Group, Inc. See Table A-5 in Appendix II.
-The Washington Economics Group, Inc. I Page 15
ApPENDIX I: METHODOLOGY
The Washington Economics Group, Inc. I Page 16
IMP LAN MODEL
Economic models that explicitly account for inter-industry linkages (supply relationships); the generation of labor and capital income and the spending of household income have been used since the 1960's to estimate the contribution that a particular business or industlY makes to the general economy.
The multiplier impacts calculated by the IMP LAN model are based on input-output methodology, which explicitly considers the inter-industry linkages that exist within an economy. Each industry needs labor and inputs from other industries in order to produce economic output. Whenever an industry experiences an increase in the demand for its output, many other industries within that economy indirectly experience an increase in demand as well because of these inter-industry linkages. This increase in demand that results from the need for material inputs is called the indirect effects. In addition, an increase in production within a region also leads to an increase in household income through the hiring of workers, which in turn generates further demands for goods and services within the region. Firnls also need to expand their base of physical capital to meet higher levels of demand, and this too stimulates regional economic growth. The latter effects are referred to as induced effects. The inter-industry linkages and the induced effects on consumer and capital spending lead to successive rounds of production, and this process results in an increase in output that exceeds the initial change in demand, or a multiplier effect. Similarly, the increase in household income will exceed the initial payroll increase encountered in the industry that experienced the original increase in demand. The total change in employment in the regional economy is a multiple of the direct change in employment.
The total quantitative economic contribution of these activities, therefore, is comprised of a direct effect, and indirect effect and an induced effect. The following represents the system of equations that comprise the regional economy in an extended input-output model like IMPLAN:
Xl = aU Xl + a12 X2 + a13 X3 + ... + alk x le + alhxh + ali x i + fl
X 2 = a 21 Xl + a 22 x 2 + a 23 x 3 + ... + a 2k x Ie + a 2 h X h + a 21 x I + f2
X3 = a3l Xl + a32 X2 + a 33 X3 + ... + a 3k x k + a3h x h + a 3i x i + f3
X k = a k 1 Xl + a k 2 X 2 + a k 3 X 3 + ... + a kk x k + a kh x h + a ki Xi + fk
Xh = ahlxl + ah2 x 2 + ah3 x h + ... + ahkxk + ahhxh + ahixi + fh
Xi = a i1 Xl + a i 2 X 2 + a i3 X h + ... + a il. x k + a ih X h + a ii Xi + fi
----=---~.~-~"~~==~-=.~~~====- ._== __ ,..l
The Washington Economics Group, Inc. I Page 17
The variables Xl to Xk represent total production of output in each industry. The coefficients aij represent the purchases from industry "i" that are needed to produce a dollar of output in industry "j". These are known as the direct requirement coefficients. The variable Xh refers to household income and the coefficients aih refer to the average amount of household income spent on purchases from industry "i", or the average propensities to consume. The coefficients ahi are similar to the inter-industry purchases (aij's), but they represent the household income that is generated from each dollar of output produced in industry "i". Similarly the variable XI represents regional spending on capital goods, and the coefficients alj represents the spending on capital goods for each dollar of output produced in industry "j". The coefficients ajl represent the amount purchased from industry "j" for each dollar spent on capital goods within the region. The variables fj represent the exogenous final demand faced by each industry, respectively.
This system of equation reduces, using matrix notation, to the following solution for industry output and household income:
X (I-A)-lF
X is the vector of industry outputs plus household income and F is a vector of exogenous final demands. The "output multipliers" (i.e., the change in industry output and household income that results from a change in final demand for the output of a particular industry) are given in the columns of the (I-Ar l matrix. The IMPLAN software calculates these multipliers for counties, states and other sub-state regions. These multipliers can be used to provide a sense of the economic importance of an industry or an economic activity in a given region. The multipliers impacts for gross state product, labor and capital income and the government revenue impacts are derived from the basic output multipliers given by (I-Arl.
The IMPLAN model uses historical relationships between public-sector revenues and regional economic output in order to estimate the public-sector revenue impact resulting from the establishment of a new, or the expansion of an existing economic activity.
_ . . _.- ~-
The Washington Economics Group, Inc. I Page 18
ApPENDIX II:
ECONOMIC GLOSSARY
- -The Washington Economics Group, Inc. I Page 19
DEFINITIONS OF ECONOMIC TERMS USED IN THE ANALYSIS ===
Employment
Labor Income
Gross Domestic Product (GDP)
Economic Impact
Direct Effects
I Indirect Effects
Induced Effects
Defirii~ion
Total of full-time or part-time jobs.
All forms of employment income, including Employee Compensation (wages and benefits) and Proprietor Income.
The increased value of a product as a result of the economic inputs (labor and capital) expended at a given stage. In the IMPLAN Model, GDP is the sum of: Employee Compensation, Proprietor Income, Other Property Type Income (Interest) and Indirect Business Taxes.
Total value of all transactions attributed to an activity.
The set of expenditures applied to the predictive model (i.e., 1/0 multipliers) for impact analysis. It is a series (or single) of production changes or expenditures made by producers/consumers as a result of an activity or policy. These initial changes are determined by an analyst to be a result of this activity or policy. Applying these initial changes to the mUltipliers in an TMPLAN model will then display how the region will respond, economically to these initial changes.
The impact of local industries buying goods and services from other local industries. The cycle of spending works its way backward through the supply chain until all money leaks from the local economy, either through imports or by payments to value added. The impacts are calculated by applying Direct Effects to the Type I Multipliers.
The response by an economy to an initial change (direct effect) that occurs through re-spending of income received by a component of value added. IMPLAN's default multiplier recognizes that labor income (employee compensation and proprietor income components of value added) is not a leakage to the regional economy. This money is re-circulated through the household spending pattel11s causing further local economic
Source: IMPLAN Glossary: http://implan.com/v4/inclex.php?option=com glossary&Itemicl=12,
The Washington Economics Group, Inc. I Page 20
ApPENDIX III: DETAILED IMPACT TABLES
The Washington Economics Group, Inc. I Page 21
DETAILED IMPACT TABLES
Within the main portion of the Study the economic impacts are presented at a summalY level. Direct, Indirect, and Induced Impacts are aggregated into the Total Impact, alld Industries are summarized by function. The following Tables present detailed impacts at the two-digit NArCS industry classification level.
The following industry sector summarizations are used in this Study:
1. Government & Other is the sum of: Agriculture & Forestry, Mining, Utilities, Company Management, and Government & Other.
2. Knowledge-Based Services is the sum of: Information, Finance & Insurance, Real Estate, Professional Services, Administrative, Educational Services, Health & Social Services, Arts, Entertainment & Recreation, and Other Services.
3. Wholesale Trade & Transportation Services is the sum of: Wholesale Trade, and Transportation & Warehousing.
4. The Accommodation and Food Services sector was renamed Visitor Industry.
Ultra Music Festival Economic Impacts
Table A-I. Permanent Jobs Supported by the Ultra Music Festival ................................................... 23
Table A-2. Labor Income Generated by the Ultra Music FestivaL ................................................... 24
Table A-3. Gross Domestic Product (Value-Added) Generated by the Ultra Music Festival ............ 25
Table A-4. Total Economic Impacts Generated by the Ultra Music Festival ..................................... 26
Table A-5. Fiscal Contributions Created by the Ultra Music FestivaL ............................................. 26
The Washington Economics Group, Inc. I Page 22
VL TRA MUSIC FESTIVAL ECONOMIC IMPACTS WM
Table A-I. Permanent Jobs Supported by the Ultra Music Festival
Industry Impacts
Direct Indirect Induced Total Agriculture & Forestry 0 0 1 1 Mining 0 0 0 0
Utilities 0 1 1 2
Construction 0 3 4
Manufacturing 0 2 2 4
Wholesale Trade 0 2 6 8
Retail Trade 79 33 112
Transportation & Warehousing 0 7 6 13
Information 0 6 3 9
Finance & Insurance 0 8 18 26
Real Estate 11 12 12 34
Professional Services 0 16 8 25
Company Management 0 3 4
Administrative 0 28 12 39
Educational Services 0 1 8 8
Health & Social Services 0 0 44 44
Arts, Entertainment & Recreation 308 9 5 322
Accommodation & Food Services 199 7 19 225
Other Services 0 7 21 29
Government & Other 0 3 3 6 --Total: 597 116 204 915 .--.'---,,-- ------,. .. "--"'----" ._~ __ '., ... ~ .
Source: The Washington Economics Group, Inc.
The Washington Economics Group, Inc. I Page 23
Table A-2. Labor Income Generated by the Ultra Music Festival
Impacts
Direct Indirect Induced Total ----~-------------------+-----~~----~~~----~~~--------Agriculture & Forestry 0 5,014 22,557 27,571
Industry
Mining 0 3,841 4,011 7,852
Utilities 0 111,481 76,187 187,668 Construction 0 l30,386 86,440 216,826
Manufachlring 0 97,539 100,905 198,445
Wholesale Trade 0 161,193 427,304 588,497
Retail Trade 2,423,551 31,584 1,113,145 3,568,180 Transportation & Warehousing 0 300,038 242,7l3 542,752
Information 0 527,484 244,085 771,569 Finance & Insurance 0 575,771 1,204,875 1,780,646
Real Estate 552,709 325,678 324,965 1,203,352 Professional Services 0 1,204,592 634,115 1,838,707
Company Management 0 379,701 106,887 486,588
Administrative 0 704,816 293,415 998,231
Educational Services 0 23,118 350,443 373,561
Health & Social Services 0 178 2,188,738 2,188,916
Arts, Entertainment & Recreation 8,974,l33 266,358 153,088 9,393,579
Accommodation & Food Services 5,987,078 187,479 479,841 6,654,398
Other Services 0 217,989 574,626 792,615 Government & Other __ , ____ 0 ___ ,-12§d2.L __ ..12.2:774 550,108 __
Total $17,937,371 $5,550,575 $8,882,114 $32,370,061
Source: The Washington Economics Group, Inc.
--The Washington Economics Group, Inc. I Page 24
Table A-3. Gross Domestic Product (Value-Added) Generated by the Ultra Music Festival
Industry Impacts
Direct Indirect Induced Total Agriculture & Forestry ° 7,510 34,280 41,791 Mining ° 7,605 7,971 15,576
Utilities ° 452,647 307,090 759,736
Construction ° 164,955 104,299 269,253
Manufacturing ° 150,999 234,387 385,386
Wholesale Trade ° 286,705 760,022 1,046,728
Retail Trade 3,429,011 43,023 1,538,556 5,010,589
Transportation & Warehousing ° 405,446 337,823 743,269
Information ° 913,814 560,614 1,474,428
Finance & Insurance ° 966,012 1,878,821 2,844,833
Real Estate 1,383,994 1,735,110 3,936,381 7,055,486
Professional Services ° 1,534,284 819,707 2,353,991
Company Management ° 426,878 120,168 547,045
Administrative ° 848,988 356,211 1,205,199
Educational Services ° 22,895 328,481 351,376
Health & Social Services ° 221 2,373,418 2,373,638
Arts, Entertainment & Recreation 10,083,548 344,614 251,328 10,679,490
Accommodation & Food Services 10,073,769 277,888 705,821 11,057,478
Other Services ° 259,656 614,213 873,869
Government & Other ° 271,546 209,736 481,282 -' .. ,""-_._-----------,-- _____ "' __ ... ~'---.-'"' ..... Total $24,970,322 $9,120,796 $15,479,327 $49,570,443 --Source: The Washington Economics Group, Inc.
: li'e!i
The Washington Economics Group, Inc. I Page 25
Table A-4. Total Economic Impacts Generated by the Ultra Music Festival
Industry Impacts
Direct Indirect Induced Total Agriculhlre & Forestry 0 12,354 56,462 68,815 Mining 0 20,770 23,311 44,081
Utilities 0 537,437 378,519 915,956
Construction 0 332,247 194,502 526,749
Manufachlring 0 535,999 807,888 1,343,887
Wholesale Trade 0 342,159 907,025 1,249,184
Retail Trade 4,840,973 62,277 2,220,633 7,123,883
Transportation & Warehousing 0 701,575 605,030 1,306,605
Information 0 1,787,514 1,011,136 2,798,651
Finance & Insurance 0 1,698,034 3,523,807 5,221,841
Real Estate 2,187,128 2,067,872 4,542,858 8,797,858
Professional Services 0 2,072,247 1,095,978 3,168,225
Company Management 0 666,509 187,625 854,133
Administrative 0 1,449,444 607,110 2,056,553
Educational Services 0 38,068 587,196 625,264
Health & Social Services 0 431 4,131,816 4,132,247
Arts, Entertainment & Recreation 15,708,553 644,123 408,992 16,761,668
Accommodation & Food Services 17,322,893 480,937 1,222,060 19,025,890
Other Services 0 520,565 1,285,099 1,805,663
Government & Other 0 518,758 613,289 1,132,047 --_., --, .. _,._--Total $40,059,547 $14,489,320 $24,410,336 $78,959,200
Source: The Washington Economics Group, Inc.
Table A-5. Fiscal Contributions Created by the Ultra Music Festival
Taxes Paid By Federal Type State / Local Total Taxes TJ!J!.e]axes Taxes
Labor $3,330,550 $26,154 $3,356,704
Capital $180,559 $0 $180,559
Indirect Business Taxes $776,567 $4,167,079 $4,943,646
Households $2,120,313 $133,524 $2,253,837
...f2!J2orations $864,979 $52,374 $917,353
Total: $7,272,968 $4,379,131 $11,652,099 _._--Source: The Washington Economics Group, Inc.
The Washington Economics Group, Inc. I Page 26
ApPENDIX IV: THE WASHINGTON ECONOMICS GROUP, INC.
PROJECT TEAM AND QUALIFICATIONS
The Washington Economics Group, Inc. I Page 27
, J. ANTONIO "TONY" VILLAMIL
Principal Advisor, The Washington Economics Group (WEG). Dean, School of Business ofSt. Thomas University of Florida
Tony Villamil has over 30 years of successful career as a business economist, university educator and high-level policymaker for both federal and state governments. He has served as a Presidential appointee US Undersecretary of Commerce for Economic Affairs, and he is the founder of a successful economic consulting practice, The Washington Economics Group, Inc. (WEG). Since August 2008, Tony is the Dean and Research Professor of Economics at the School of Business of St. Thomas University, while continuing to serve as Principal Economic Advisor to the clients of WEG.
Tony is a recent member of the President's AdvisOlY Committee on Trade Policy and Negotiations in Washington, D.C. He is the immediate past Chairman of the Governor's Council of Economic Advisors of Florida, and during 1999-2000, he directed the Tourism, International Trade and Economic Development Department of the State in the Office of Governor Jeb Bush. Presently, he is on the Board of Directors of the Spanish Broadcasting System (NASDAQ), Mercantil Commercebank, N.A., Pan-American Life Insurance Group (PALIG) and Enterprise Florida - the State's principal economic development organization.
Among other leadership positions, he is currently Chairman of the Economic Roundtable of the Beacon COllilcil-Miami-Dade County's official economic development organization. He also serves as Senior Research Fellow of Florida TaxWatch, an established fiscal and policy research organization of the State. Tony is a member of the Superintendent's Business Advisory Council of Miami-Dade County Public School System; one of the largest school systems of the nation.
Mr. Villamil earned bachelor and advanced degrees in Economics from Louisiana State University (LSU), where he also completed coursework for the Ph.D. degree. In 1991, Florida International University (FIU) awarded him a doctoral degree in Economics (hc), for "distinguished contributions to the Nation in the field of economics." He speaks frequently to business, govermnent and university audiences on economic topics, and was until the summer of 2008 a member of the Graduate Business Faculty of Florida International University (FIU).
PABLO CEPEDA Associate Consultant for Economics
Pablo Cepeda is an Associate Consultant for Economics at The Washington Economics Group (WEG). In this role, Pablo serves as an economic consultant to WEG clients, providing expert economic analysis for business and public policy decision-making.
Pablo received his Bachelors of Science Degree in Economics and International Affairs and his Masters Degree in Applied Economics from Florida State University.
The Washington Economics Group, headquartered in Coral Gables, Florida, has been successfully meeting client objectives since 1993 through strategic consulting services for corporations and institutions based in the Americas. The Group has the expertise, high-level contacts, and business alliances to strengthen a firm's competitive position in the rapidly expanding market places of Florida and Latin America.
MARY SNOW Managing Director of Client Services
Mary Snow is the Managing Director of Client Services at The Washington Economics Group, Inc. (WEG). She serves as WEG's client liaison, working with clients to facilitate their business interests and achieve their goals.
Prior to joining WEG, Mary was a governmental consultant for Robert M. Levy & Associates with offices in Miami and Tallahassee. She represented clients' interests at the local level and to the State Legislature.
Mary received her undergraduate degree in Political Science with a minor in Education from Florida State University. Mary is a resident of Coral Gables, Florida.
HAYDEE M. CARRION Executive and Senior Research Assistant
Ms. Carrion has been Executive Assistant to Dr. Villamil since the finn's founding in 1993. Ms. Carrion is a specialist in multi-media presentations and in the preparation and design of reports and documents for clients.
She also is the Senior and Project Research Assistant and has extensive experience in the preparation of electronic data, presentation of quantitative information, Internet research and desktop publishing.
Haydee has been with WEG for 19 years. Ms. Carrion holds AA and AS degrees in Business Administration and Office System Technologies from Miami-Dade College. Haydee is a resident of Miami-Dade County.
The Washington Economics Group (WEG) has been successfully meeting client objectives since 1993 through economic consulting services for corporations, institutions and governments of the Americas. We have the expertise, high-level contacts, and business alliances to strengthen your competitive positioning in the growing marketplaces of Florida and Latin America.
Our roster of satisfied clients, over the past eighteen years, includes multinational corporations, financial institutions, public entities, and non-profit associations expanding their operations in the Americas.
EXCLUSIVE CONSULTING ApPROACH:
Each client is unique to us. We spend considerable time and effort in understanding the operations, goals, and objectives of clients as they seek our consulting and strategic advice. We are not a mass-production consulting entity nor do we accept every project that comes to us. We engage a limited number of clients each year that require customized consulting services in our premier areas of specialization. These premier and exclusive services are headed by former US Under Secretary of Commerce, Dr. J. Antonio Villamil, with over thirty years of experience as a business executive and as a senior public official of the US and most recently of Florida.
PREMIER CONSULTING SERVICES:
Comprehensive Corporate Expansion Services. Our seamless and customized service includes site selection analysis, development of incentive strategies and community and governmental relations.
Economic Impact Studies highlight the importance of a client's activities in the generation of income, output and employment in the market area serviced by the entity. These studies are also utilized to analyze the impact of public policies on key factors that may affect a client's activities such as tax changes, zoning, environmental permits and others.
Strategic Business Development Services. These services are customized to meet client objectives, with particular emphasis in the growing marketplaces of Florida, Mexico, Central and South America. Recent consulting assignments include customized marketing strategies, country risk assessments for investment decisions and corporate spokesperson activities and speeches on behalf of the client at public or private meetings.
For a full description ofWEG capabilities and services, please visit our website at:
www.weg.com
The Washington Economics Group, Inc.
Multinational Corporations Lockheed Martin FedEx Latin America IBM Motorola SBC Communications Ameritech International Lucent Technologies MediaOne/AT&T Joseph E. Seagram & Sons, Inc. (Vivendi) Microsoft Latin America Carrier Medtronic Phelps Dodge Esso Inter-America Visa International MasterCard International Telefonica Data Systems Bureau Veritas (BIVAC) Merck Latin America DMJM & Harris DLAPiper Wilbur Smith Associates PBSJ Genting Group Odebrecht Construction, Inc. DLA Piper
Florida-Based Corporations
The Allen Morris Company Sprint of Florida Florida Marlins Flo-Sun Sugar Corp. Farm Stores The BMI Companies Dosal Tobacco Miami Dolphins Spillis Candela & Partners The Biltmore Hotel/Seaway Trammel Crow Company Communikatz Advantage Capital WCI Development Companies Iberia Tiles Ron Sachs Communications SEUI Healthcare Florida Florida Hospital Mercy Hospital The St. Joe Companies Florida Power & Light (FPL) International Speedway Corporation Resorts World Miami (RWM) Jungle Island
Representative Client List 1993-2012
Financial Institutions
International Bank of Miami Pan American Life ABN-AMRO Bank Barclays Bank Lazard Freres & Co. Banque Nationale de Paris HSBC/Marine Midland Fiduciary Trust International Sun Trust Corporation First Union National Bank (Wachovia) Union Planters Bank of Florida (Regions) Bank Atlantic Corp. Hemisphere National Bank BankUnited, FSB Mercantil Commercebank N.A. PointeBank, N.A. The Equitable/ AXA Advisors
Public Institutions, Non-Profit Organizations and Universities
Baptist Health South Florida Jackson Health Systems Miami-Dade Expressway Authority Miami-Dade College Miami Museum of Science Port of Miami Zoological Society of Florida Florida International University University of Miami University of Miami's Rosenstiel School of Marine and Atmospheric Science Universidad Politecnica de Puerto Rico Sistema UniversitarioAna G. Mendez (SUAGM) Keiser University St. Thomas University Full Sail Real World Education Florida Agricultural & Mechanical University (FAMU) University of South Florida/ ENLACE Alabama University Embry-Riddle Aeronautical University Sylvester Comprehensive Cancer Center Inter-American Development Bank (IDB) United Nations Economic Development Program (UNDP) Florida League of Cities The Florida Chamber Foundation Florida Retail Association Florida Ports Council Florida Sports Foundation Florida Citrus Mutual Florida Nursing Homes Alliance Florida Bankers Association Florida International Bankers Association (FIBA)
Non Florida-Based Institutions
Georgia Retail Federation Illinois Retail Merchant Association Washington Retail Association Indiana Retail Council
Florida Outdoor Advertising Association City of Plantation City of West Palm Beach Economic Development Commission of Lee County Economic Development Commission of Miami-Dade (Beacon Council) Economic Development Commission of Mid-Florida Jacksonville Chamber of Commerce SW Florida Regional Chamber of Commerce Enterprise Florida, Inc. The Beacon Council Visit Florida Louisiana Committee for Economic Development Space Florida State of Florida Flagler Development Tampa-Hillsborough Expressway Authority
