Bradenton officials debate level of funding for 2017 Bradenton Area River Regatta

MANATEE -- More than three weeks after Palmetto signed off on the third annual Bradenton Area River Regatta, Bradenton officials are delaying approval as they debate how much taxpayers should continue to invest in the event.

The council does support the event, but members are growing more divided on continued funding. Ward 2 Councilman Patrick Roff believes the public has been misinformed about the actual cost of the event for the city, which he said is about $100,000, mostly for the police and public works employees who work the event.

"I've not heard from the citizens because I believe they don't know how much it's costing," said Roff, who insisted he does support the regatta. " But I don't consider this to be economic development. I realize it's a major windfall for downtown businesses, but this is tourism and showbiz."

Mayor Wayne Poston disagreed, noting that surrounding counties "wish they had this event. We couldn't do anything about the weather last year, but it attracted 80,000 people the first year. If that's not economic development, I don't know what is."

Poston said Roff isn't hearing from anyone because the majority of people support the regatta. He said Roff shouldn't speak negatively of an event he refuses to attend.

"A lot of people went and had a great time," said Poston. "We are trying to grow this community. We are branding it and part of the brand is the regatta."

Ward 4 Councilman Bemis Smith said he also believes the regatta is an economic development tool and

when he first approved the event, saw it as a long-term business investment.

"I said in the beginning that the city should work to support events that are beneficial to the city and then work on weening those events off of the city when they become self-sufficient," said Smith. "I see the regatta as a three-to-five-year vision and at that time, we'll see what it's all about. Right now, I'm behind it and we should do as much as we can to promote it."

Roff said the definition of economic development is that it "provides long-term jobs and increases property values. One-day events do not do that and it's fine, but just call it an event and not economic development."

Smith said there's more to economic development than definitions.

"We can nitpick every regulation that prevents us from doing anything and we would all just sit here like quivering jellyfish," he said. "It's just like a business investment. If the money we spend over the next three years creates not only a self-funding event but increases our rate of return, then that's a success."

Poston said Roff is thinking too small in not considering what $100,000 is returning to the city in terms of attendance, economic impact and the national recognition the city is receiving.

"Any marketer will tell you that you got a great deal for a $100,000 investment," he said. "That's what economic development is all about. Being a steward of tax money doesn't mean you don't spend tax dollars. It means you spend it wisely."

Roff said he wants the council to at least set a cap on the spending. He said he doesn't know what that would be yet, but suggested $50,000 in the regatta's third year.

Regatta organizer Mike Fetchko, president of ISM USA, said Formula 2 is saving Feb. 7 as the date for the 2017 regatta.

"Everyone is committed to coming to Bradenton as we move this forward. I would have no problem with a cap, but that money goes into personnel and we wouldn't want to see less public works and law enforcement on site," he said.

Fetchko said the regatta delivers a significant economic impact for the region, a contributing positive influence for the urban core and a free event for the area's residents.

"These initiatives have met with great success, particularly in year one with an economic impact of over $4 million and an additional $400,000 in new tax dollars raised," he said. "Year two, despite difficult weather, saw an even further well defined and executed plan. National and regional events of this scale and scope do take a civic investment of some measure in public safety and public works to succeed and particularly to position them for long-term market success."

Fetchko was hesitant to confirm Poston's statement that the regatta is wanted elsewhere.

"We want to be in Bradenton, Palmetto and Manatee County. Our collective success of launching this event here has opened the eyes of others in Florida, but we are highly committed to the area's leadership and the great F2 racing fans and the people of this beautiful region," he said.

Mark Young, Herald urban affairs reporter, can be reached at 941-745-7041 or follow him on Twitter @urbanmark2014.

This story was originally published May 8, 2016 at 11:20 PM with the headline "Bradenton officials debate level of funding for 2017 Bradenton Area River Regatta ."