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PROVISIONAL APPROVAL FOR SPECIAL EVENTS & AUTHORIZATION TO ENTER INTO A MULTI-YEAR PERMIT AGREEMENT WITH THE RIOT FEST CORPORATION TO HOLD THE ANNUAL RIOT FEST IN DOUGLASS PARK
BODY
To the Honorable Board of Commissioners of the Chicago Park District
I. Recommendation
Pursuant to Chapter VII, Section C.3.c of the Code of the Chicago Park District, it is recommended that the Board of Commissioners review and make a determination of provisional approval or denial for special event permit applications with an attendance of 10,000 or more per day. It is recommended that the General Superintendent and CEO or his designee enter into a multi-year permit agreement with Riot Fest Corporation to hold Riot Fest in Douglass Park.
II. Information
Parties: Riot Fest Corporation
PO Box 220350
Chicago, IL 60622
Contract Type: Multi-year festival permit agreement
Contract Term: Three (3) years (2025-2027) with an option to extend for an additional 2 years (2028-2029)
Contract Fees: Permit Fee equal to the greater of:
(i) Guaranteed Minimum Annual Payment of $575,000 with a $15,000 annual escalator
OR
(ii) Per Ticket Fee (based on 150,00 tickets)
2025 - $5.25 per ticket
2026 - $5.375 per ticket
2027 - $5.50 per ticket
2028 - (Ext) $5.625 per ticket
2029 - (Ext) $5.75 per ticket
Capital Contribution: In addition to the Permit Fee, Riot Fest will fund a 10% give back to capital improvements in Douglass Park.
Separately, the Park District will pilot an increase of its 10% give back to 20% for this event. In total, Douglass Park will receive a 30% give back.
Authorization: Authorize the General Counsel to include other relevant terms and conditions in the written Agreement. Authorize the General Superintendent to execute the Agreement and the related extension options and the Secretary to attest as to the signing of the Agreement and keep an original copy of the Agreement on file.
III. Budget and Financial Information
B...
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