ITEM TITLE:
Approving Purchase and Sale Agreement Between the City of Valdez and the Valdez Convention and Visitors Bureau
SUBMITTED BY: Nathan Duval, City Manager
FISCAL NOTES:
Expenditure Required: $167,725.37
Unencumbered Balance: $241,320
Funding Source: 001-5400-48600, Economic Development - Contributions VCVB
RECOMMENDATION:
Approve the Purchase and Sale Agreement between the City of Valdez and the Valdez Convention and Visitors Bureau.
SUMMARY STATEMENT:
At the Regular City Council meeting on April 7, 2026, the Valdez Tourism Task Force presented their short-term and long-term recommendations, including a recommendation for a new entity using the corporation model, similar to the Museum governance structure, to continue efforts locally related to tourism and destination marketing.
Pursuant to the recommendation of the Valdez Tourism Task Force, City Administration included a Discussion Item on the April 7, 2026 to discuss with Council the framework for an agreement with the current VCVB for the purchase of assets such as the website, social media profiles, photo library, the visitors guide, and other intellectual property.
This agreement is the product of the direction of the City Council following that discussion.
Proceeds of the sale will help the VCVB pay off past due balances and clear out debt so that they can dissolve.