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Fort Pierce weighs five-year management deal with VenueWorks to run Sunrise Theater
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Summary
City staff and VenueWorks outlined a proposed management agreement that would keep Sunrise Theater in city ownership, pay VenueWorks a $7,000 monthly management fee plus 10% of food and beverage revenue, and include a $50,000 concession investment and clawback provision; commissioners pressed for strong KPIs and monthly transparency before final approval.
City staff and representatives from VenueWorks presented a negotiated management agreement for the Sunrise Theater on March 9, proposing that the city retain ownership while VenueWorks operates programming, ticketing, concessions and day-to-day staffing under an initial five-year contract with an optional five-year extension.
Key terms presented by staff and VenueWorks included a $7,000-per-month base management fee in year one (adjusted in later years for CPI), 10% of gross food-and-beverage revenue to VenueWorks, and a $50,000 equipment investment in concessions that the company would amortize over the contract. VenueWorks also offered a clawback provision: it would cover up to 50% of its earned commissions to help offset a year-end operating shortfall.
"The Sunrise Theater would remain a city venue," Mike Silva, chief operating officer for VenueWorks, said, adding that VenueWorks would provide monthly financial reports, general-liability insurance for events, and local staff participation through hiring and volunteer programs. HR Cook, regional vice president, described programming strategies used in comparable small-city theaters and said VenueWorks would emphasize community-oriented events, school programs and a broader mix of cultural programming.
Commissioners pressed on financial oversight, contract benchmarks and reporting cadence. One commissioner asked who will own the operating-account reporting and who will be the commission’s "go-to" staff person for problems; staff said they would establish KPIs, monthly management reports and a short leash on cash flow with the city’s finance and operations team reviewing monthly numbers. Commissioners emphasized the need to monitor revenue and avoid long-term surprises; staff said capital improvements would remain the city’s responsibility and that the FPRA (redevelopment agency) transfer and outside counsel review are part of the next steps.
What happens next: staff will continue negotiations, finalize the management agreement language and return the contract to the commission for formal consideration with built-in KPIs and reporting obligations. Commissioners requested VenueWorks to meet the community and to work on programming that reflects the city’s diverse population and school-based offerings.
Context: The management approach is the city’s response to an executive-director vacancy and aims to professionalize operations while preserving city ownership and oversight. Commissioners stressed fiscal responsibility and monthly transparency as prerequisites for final approval.
