Title
AN ACT CONCERNING IMMERSIVE ENTERTAINMENT VENUE COMMUNITY IMPACT FUNDING for the purpose of reserving a certain percentage of all revenue directly attributable to an Immersive Entertainment Venue for use in impacted communities within a six (6) mile radius of the Immersive Entertainment Venue; creating the Sphere Community Impact Fund; defining certain terms; providing for the use of reserved revenue; and generally relating to revenue attributable to an Immersive Entertainment Venue.
Background
This bill will reserve at least ten percent (10%) of all County revenue attributable to the Immersive Entertainment Venue constructed in District Eight for use in impacted communities in District Eight. The bill creates the District Eight Sphere Community Impact Fund, and identifies permissible uses of the Fund. Recommended funding allocations are made by a community-based body designated by the County Council through a process set forth in the bill. Finally, the bill includes extensive reporting requirements on the use of the Fund.