communities_facilities_district_board_meeting_agen.pdf
Fain Family Provides Parking Under Multi-Year License
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Description
Fain family entities provide parking facilities for the Event Center under a multi-year license agreement, compensated by annual and per-ticket fees, with terms for renegotiation after 20 years.
Contract Details
Contract Amount
$70,000/year + $2.10 per ticket sold (whichever greater); additional fees (see notes)
Vendor
FAIN
Agency
Town of Prescott Valley, AZ
Contract Type
FACILITIES
Document Date
January 9, 2025
Contract Term
20 years (from bankruptcy plan approval, approx. 2017-2037), with renegotiation at end
Renewal Date
2037-07-12
Renewal Info
20-year term from bankruptcy plan approval (2017), renegotiated at end of term; annual escalating license fee.
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