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He said participants have told him it’s not just seed money for their businesses but the support they receive in how to go about starting or operating their business that has been important. Ryan Peckham, Roden Fellow for Entrepreneurship at UTPB, told the board two past competition winners have already claimed their entire winnings and two others are more than halfway to claiming their funding. Board members approved an interlocal agreement with the University of Texas Permian Basin to help promote the upcoming Midland Entrepreneurial Challenge.The agreement allows the MDC board to approve additional administrative payments to the foundation as it serves as the fiscal sponsor for the Quality of Place Conservancy – which is raising the $55 million to fund the Hogan Park renovation initiative. In a related agenda item, board members approved a second amendment to a promotional agreement with the Permian Basin Area Foundation.
The event brought the equivalent of over 4,965 room nights, a total of 10,717 show attendees and an estimated economic impact of $2.130 million. The final was a volleyball event Midland hosted that was spread over every court available in the city for two days. The recent junior nationals diving event hosted by COM Aquatics brought attendees renting the equivalent of 500 room nights and more than 2,000 total show attendees for an economic impact calculation of $1.847 million. He shared with board members an estimate from Visit Midland that showed a test volleyball event is expected to bring 600 attendees renting hotel rooms and 1,800 total show attendees over the two-day event for an economic impact calculation of $462,953.58. “We’re excited to share with you the economic impact of the project.” “We’re excited about the project and excited to share about the project,” he said. Stallard told board members construction of the expansion is expected to start in the next 60 to 90 days. Tim Stallard, executive director of the Bush Tennis Center, gave a presentation on the planned expansion of the center into an athletic complex, including five indoor basketball/volleyball courts, a 50-yard, indoor turf room and 12,000-square-foot, high-performance training facility.
Quality-of-life projects then dominated the agenda for the board members as they met for the first time since June.