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Committee adopts amendment to Coliseum management agreement with OVG Facilities LLC
Summary
The Finance Committee approved Resolution 25‑38 to authorize the Coliseum board to sign a second amendment to its management agreement with OVG Facilities LLC, changing revenue benchmarks, incentive caps and health‑insurance caps in the agreement.
The City of Charleston Finance Committee on April 20 approved Resolution 25‑38, authorizing the Coliseum and Convention Center Board to execute a second amendment to its management agreement with OVG Facilities LLC, staff said.
Staff told the committee that the original agreement, executed in September 2020, set incentive benchmarks beginning at $3.5 million in annual revenue and escalating to $4.5 million; OVG has exceeded those…
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