City of Powell River council will consider renewing its contribution agreement with Pacific Region International Summer Music Association (PRISMA) for another three-year term.
At the October 19 committee of the whole meeting, city director of properties, development and communication Scott Randolph said the current agreement, which started January 1, 2019, is set to expire at the end of this year. He said the contribution agreement with PRISMA was deemed to be beneficial to the community’s cultural sector and economy.
Randolph said covenants of the current agreement provide the association with a $15,000 grant annually, plus a grant in-kind, which provides for use of city facilities, having a value up to $35,000. He said that included $30,000 for use of Powell River Recreation Complex, up to $3,500 for transit passes for students and up to $1,000 for recreation complex gym passes for students. Additionally, there was up to $500 for use of Willingdon Beach for PRISMA on the Beach, which is an annual event the association holds.
The maximum annual in-kind grant of $35,000 that was laid out in the agreement could be adjusted to reflect annual council-approved facility rental rate changes, according to Randolph.
“If the rates went up, they would be taken into account,” he added. “Any raise in cost would be covered under the agreement.”
Randolph said there are a number of covenants in the agreement, including PRISMA submitting an annual report to the city, outlining outcomes of any events, and an economic impact analysis and summaries of how city services were used. The association is to submit annual financial statements at year end for analysis.
“We have drafted a renewal agreement,” added Randolph. “PRISMA is a premier cultural event and organization in this community. It plays a significant role in expanding the city’s and the region’s international standing as a cultural destination. It attracts students and faculty from around the world, which not only creates millions of dollars in new revenues annually, but also serves to market the community and the region at a higher level than the community can afford.”
Randolph said the new contribution agreement renewal is for a three-year term starting January 1, 2022 and terminating on December 31, 2024. Terms of the agreement are the same as the original, except for an amendment where the amount of grant-in-kind use of the recreation complex has been increased to $35,000 from $30,000. This takes fee schedule changes over the last three years into account, according to Randolph.
Mayor Dave Formosa said he supports PRISMA wholeheartedly and hopes it carries on to get support.
“These cultural events aren’t really big moneymakers, but they are huge cultural makers,” said Formosa. “I’m proud of PRISMA and I support this.”
The committee gave consent to send the renewal agreement to city council for approval.
