CORPUS CHRISTI, TX (CelebrityAccess MediaWire) — Nueces County Commissioners have elected to give Global Spectrum a two-year extension on their contract to manage the Richard M. Borchard Regional Fairgrounds.
According to local NBC affiliate KRIS, the contract has also been expanded to include incentives based on the public's response to the management of the fairgrounds and gives Global Spectrum a 20% share of profits in excess of $1.1 million per Annam.
The commissioners also urged Global Spectrum to take advantage of $7.5 million recently approved for improvements at the fairground. The target completion date for the upgrades was reported as sometime in 2010.
All of this largess did not come without some give-back from Global Spectrum and the extension reduces the company's management fee by $40,000 to $160,000 per year. – CelebrityAccess Staff Writers