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Fiscal Impact <br />It is estimated that the public support and in-kind services for the event can be funded for <br />an amount not-to-exceed $25,000. $20,000 of that amount is the estimated cost of the <br />public safety personnel required for the race. Redevelopment funds are available and were <br />included in the 2003-2004 Redevelopment Agency budget. Some additional funds may be <br />required for public outreach and information. These expenditures, if deemed necessary, <br />would be funded through the RDA operational budget. <br /> <br />Conclusion <br />World-class signature events are a rarity. It is staff's recommendation that the opportunity <br />to host such an event continue to be supported. The benefits to the City and the Downtown <br />are many. It reinforces the image of the Downtown as the "heart" of the City and focuses <br />attention on the expanding civic and cultural events being offered in the Downtown. The <br />event will also focus attention on the beautiful residential neighborhoods in the City and <br />help establish Redwood City as an international cycling destination. The riding in San <br />Mateo County is some of the finest in the world, and much of it is in Redwood City. <br /> <br />By partnering with the Sea Otter Classic, Redwood City will be joining with a proven sports <br />event known around the world. International, national, and local media coverage of the <br />event brings a new level of recognition and "branding" to the City. National television <br />cameras will capture the racing and provide advertorial features extolling the virtues of the <br />City and its neighborhoods, including Downtown. International photos and stories could <br />reach as many as 20 nations through print and internet coverage Redwood City <br />restaurants and hotels benefit. The ancillary activities described will benefit residents, <br />young and old alike. It is an opportunity to continue to bring an international cycling event <br />to town for years to come. <br /> <br />Mr. Sutton will be available at the Council meeting to make a presentation, review in <br />greater depth the proposed event, and answer questions if needed. In addition to the <br />"Event Overview," attached are maps of the proposed racing course. <br /> <br />DanZ~,¢l~ J- <br />D°wnt~:)evelopment Coordinator Redevelopment Manager <br /> <br />1~3~uce Liedstrand ' Ed Everett <br />Community Development Director City Manager <br /> <br />Attachments: <br />Event Overview <br />Course Map <br /> <br /> <br />