STRATEGIC PRIORITY: Quality of Life
AGENDA DATE: April 28, 2021
COUNCIL DISTRICT(S):|910|DEPARTMENT: Park & Recreation Department
EXECUTIVE: John D. Jenkins
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SUBJECT
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Authorize a Supplemental Agreement to the twenty-five-year management agreement with Dallas Zoological Society and Dallas Zoo Management, Inc. dba The Dallas Zoo & Aquarium Education Department for the operation and maintenance of the Dallas Zoo and the Dallas Aquarium at Fair Park to amend ARTICLE III, Sections 3.01 and 3.02 and ARTICLE XII, Section 12.05 - Not to exceed $214,648,024.00 - Financing: General Fund (see Fiscal Information)
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BACKGROUND
On September 30, 2009, the City entered into a twenty-five-year management agreement with Dallas Zoological Society (DZS) and Dallas Zoo Management, Inc. dba The Dallas Zoo & Aquarium Education Department (DZM) for the operation and maintenance of the Dallas Zoo and the Dallas Aquarium at Fair Park. This agreement allows DZM to maintain policies and programs to ensure broad access for economically disadvantaged City residents.
The terms of the Supplemental Agreement are as follows:
ARTICLE III. MANAGEMENT FEE AND OTHER FISCAL MATTERS
The amendment will remove the annual Consumer Price Index (CPI) adjustments as well as adjust the annual management fee of $15,349,848.00, paid in equal quarterly installments. The management fee includes the funding for the Aquarium as well as an additional payment based on CPI. Effective October 1, 2020, the management fee will be reduced to $15,100,000.00. Beginning October 1, 2021 for FY 2021-22, the management fee will increase to $15,349,848.00, paid in equal quarterly installments, and will continue thereafter through the initial term of the Management Agreement expiring on September 30, 2034. In addition, payment will not be based on CPI and therefore will remain flat.
ARTICLE XII. ENVIRONMENTAL QUALITY
Currently, the City is...
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