Title
Thomas Center Refundable Deposit (B)
Explanation
The Department of Cultural Affairs proposes amending the Thomas Center A Building Use Agreement, and the Thomas Center A Building Regulations and Fees terminology and fee structure. Terminology shall be changed from "damage deposit" to "security deposit", and the dollar amount shall increase from $200 to $300. This change has been requested by the City's Treasury Department to more accurately represent the function of the deposit, and to reduce the number of invoices required per rental. While the security deposit is often returned in full, for some clients it is not uncommon for charges following an event to exceed the $200 deposit, which requires invoicing, billing, and collection procedures. Changes in the security deposit will not represent an increase in total cost to citizens for use of the Thomas Center facilities.
Fiscal Note
While there is no anticipated direct revenue increase from this action, billing efficiency should be improved.
Recommendation
The City Commission: 1) authorize the City Manager to change the Thomas Center A Building Use Agreement and the Thomas Center A Building Regulations and Fees terminology from "damage deposit" to "security deposit"; and 2) increase the deposit from $200 to $300, pending authorization by the City's Attorney as to form and legality.