FORT SMITH (KFSM) – A group wanting to bring a two-day motorcycle rally to Fort Smith is looking for $84,000 from the city to make the event happen.
Dennis Snow, director of the Steel Horse Rally, made a presentation to city directors Tuesday explaining why they should allocate money to the proposed rally. City directors voted at their Study Session meeting Tuesday to put the item on the agenda of next week’s regular board meeting.
Snow estimates the total cost of the rally between $476,887 and $543,387. He said he believes it will bring in a revenue around $510,000.
The rally’s director said the city’s $84,000 allocation is needed to put the event into motion.
“All of these numbers are just projections because we do not know what the first rally will be,” Snow said in his presentation to city directors. “The city’s funding is necessary in order to pay advance deposits and reserve premier entertainment for the rally.”
Snow said he envisions the rally as a two-day event centered in downtown Fort Smith starting May 1, with the event dedicated to military veterans and law enforcement. He said the non-profit rally will feature family-friendly entertainment, with proceeds going toward local and regional charities that specialize in helping children, veterans and the betterment of the downtown Fort Smith area.
Snow said he estimates the city’s investment into the rally will yield a three- to five-time payback in tax dollars generated from the event.
The Board of Directors is set to vote whether to give the $84,000 to the rally at its next scheduled meeting next Tuesday (Jan. 20).