Royal Oak Revenue from Arts, Beats & Eats Finalized

When the Royal Oak City Commission finalized the agreement to bring Arts, Beats & Eats to the city, the hope was the city, as well as local businesses, could make a little money. Royal Oak did just that, profiting about $63,000 from the four day event that engulfed just about the entire downtown area.

Royal Oak earned revenue from three sources; parking, a share of sponsorships brought in by the city, and a share of gate receipts. The costs included police, fire, and public works, as well as the costs associated with operating the parking facilities. The city also has to pay back $100,000 that was contributed by the Downtown Development Authority.

Overall, the city profited about $51,000 from the event itself. As residents within a few miles of downtown remember, the city also required permits to park on residential streets and ticketed cars not displaying a permit. Doing so cost just under $30,000 but it brought in over $40,000 in ticket revenue, for a total profit of about $11,000.

All in all, the city earned about $63,000, which does not take into consideration the apparently higher-than-usual profits for the local businesses.

Sources:

http://www.ci.royal-oak.mi.us/portal/sites/default/files/meetings/City%20Commission/2010/1108-322-10.pdf

http://www.ci.royal-oak.mi.us/portal/sites/default/files/meetings/City%20Commission/2010/1108-322-10_ABE_Financial.pdf