Description
Title: Amends a contract with Public Service Company of Colorado to add $386,363.00 for a new total of $600,413.00 and to add three years for a new end date of 3-31-2029 to continue a non-exclusive sponsorship agreement, Council District 10 and Mountain Parks (THTRS-202473245/THTRS-202582910-01).
Summary
The proposed legislation involves an amendment to an existing sponsorship agreement between the City of Denver's Denver Arts & Venues and the Public Service Company of Colorado (Xcel Energy). The amendment seeks to increase funding by $386,363, bringing the total contract amount to $600,413, and extends the contract duration by three years, now set to end on March 31, 2029. This agreement allows Xcel Energy specific marketing rights and benefits at key city venues, including Red Rocks Amphitheatre, such as signage and digital promotions. The initiative aims to enhance public engagement with the venues while generating essential revenue for Denver Arts & Venues. It primarily affects the arts community and city residents, emphasizing the importance of partnerships in sustaining public arts initiatives