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Council tables Heyday management agreement for Seminole family entertainment center after questions on fees and oversight
Summary
After extended questioning about effective dates, incentive pay tied to gross revenue and audit/oversight provisions, the Seminole City Council voted to table the proposed five‑year management agreement with Heyday Entertainment LLC so staff and counsel can incorporate clarifications and changes.
Seminole — The Seminole City Council paused consideration of a proposed management contract with Heyday Entertainment LLC for the city’s new family entertainment center after councillors pressed staff and counsel for clearer language on the agreement’s effective date, how incentive fees would be calculated and the city’s financial oversight.
Steve, a city staff member who led the presentation, told council members the draft is the product of months of work with bond counsel and a P3 specialist and emphasized that the draft ties any management fee to gross revenue, not net revenue. “Gross revenue is tracked … everything that comes in the door,” Steve said, explaining the contract would base the manager’s incentive payments…
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