Pueblog USa
Thursday, June 05, 2008
Convention Center cost of operations
Urban Renewal Authority/Global Spectrum contracts
Urban Renewal Authority/Global Spectrum Contracts
It is the Urban Renewal Authority’s and City Council’s belief that the expansion to the Convention Center will have a major impact on Pueblo’s economy. History indicates differently as their own paid for report shows there was a significant decrease in the number of trade shows and conferences and attendance at these events.
The Global Spectrum, managing company of the Convention Center, under the terms of the contract in force through December 31, 2006 had no specific incentive to market and contract for trade shows and conferences that would bring to Pueblo “new money”. The compensation plan to Global Spectrum was;
The management fee was $60,000 annually, payable in twelve(12) equal monthly payments of $5,000 each. The management fee was to be increased annually by the percentage increase of the Consumer Price Index.