Commission discusses uses for retained funds: feasibility, marketing, HR and an "opportunity" fund; field-house idea raised
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Summary
Members discussed options for spending retained tourism funds — including feasibility studies, a marketing/operations pool, and an acquisition/opportunity fund — and heard a proposal to build a basketball field house, though staff noted available reserves would not cover construction.
Commissioners opened a broad discussion about how to use retained tourism funds. Staff outlined three priority uses: human resources and development, seamless recurring marketing campaigns, and an acquisition/opportunity fund to bid on or secure events and assets. Staff said those three categories would cover contract services, marketing, and the seed money needed to pursue time-sensitive opportunities.
A commissioner raised a specific capital idea: building a basketball field house to host tournaments rather than renting outside facilities. Staff said the concept was appealing but noted retained funds—“about $400,000,” as discussed in the meeting—would not cover construction and suggested the commission first fund feasibility work and business planning so additional capital or partnerships could be pursued.
Commissioners also discussed the option of directing more operational funding to Engage Franklin to allow the nonprofit to do more program development and to service grants and events on behalf of the commission. Staff recommended establishing criteria for how an opportunity or acquisition fund would be used and increasing reporting and accountability if funds were allocated to Engage Franklin. No formal allocation from retained funds was approved at the meeting; commissioners asked staff to develop criteria, reporting expectations and a prioritized list for future votes.