Consider recommendation of the National Championship Air Races Lodgers' Tax Funding Request to City Council in the amount of $300,000 for marketing as outlined in their Memorandum of Understanding. (Conyers)

Initiated by: TJ Conyers

From their application:

Following the highly anticipated successful inaugural year in 2025, the National Championship Air Races (NCAR) will return to Roswell, New Mexico, for its 2nd annual event, solidifying Roswell’s role as the new home for one of aviation’s most prestigious spectacles. Held at the historic Roswell Air Center, the 2026 event is scheduled for September 9–13, continuing to elevate Roswell’s profile on the national and international stage. Recognized globally as "The World’s Fastest Motorsport," the NCAR combines competitive air racing with world-class aviation entertainment. The National Championship Air Races currently has a Memorandum of Understanding with the City of Roswell for funding of up to $300,000 per year, subject to Occupancy Tax Board and Governing Body approval. Historical Lodgers’ Tax Funding Data: Sponsorship FY2025- $300,000

Financial Impact (Revenue & Expense) — Budgeted

Revenue: 2622-414100 (Lodger's Tax 5%) - $1,501,798.00 
                 2622-414105 (Lodger's Tax 5 % >31 Days) - $69,197.00

Expense: 26224081-672828 (Public Relations - Special Events)
Current/Original Budget:  $610,000.00
Remaining Budget:  $585,000.00
Requested Amount:  $300,000.00

 

None at this time.  The Legal Department will review the sponsorship agreement before signatures are collected.

The Occupancy Tax Board recommended (4-1) funding the National Championship Air Races in the amount of $300,000 at their July 22, 2025, meeting.

Proceed as presented