16.F.5 Amendment extend naming.pdf

The document is a proposal to extend the time period for negotiating an amendment to the Facilities Management Agreement with Sports Facilities Management, LLC. The proposed amendment aims to address the possible inclusion of facility naming rights for the Paradise Sports Complex as an additional compensated service under the agreement. The initial 90-day negotiation period is proposed to be extended to a total of 194 days, with a presentation scheduled for the Board's meeting on May 24, 2022. The extension is requested to allow for adequate due diligence and vetting of the naming rights plan before presenting it to the Board for review. The executive summary outlines the objective, considerations, fiscal impact, legal considerations, growth management impact, and the recommendation to approve the amendment and authorize the Chairman to sign it.