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Title:
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Hearing to review the status of the America's Cup Organizing Committee's (ACOC) efforts to raise $32 million from private sources to reimburse the City for a portion of the City’s costs related to the America’s Cup, including an update from the Controller on the ACOC's financial position, what the City’s potential liabilities are if the ACOC fails to raise this sum, and what the City’s options are for recovering any outstanding fundraising obligations, and will also consider the original determination of financial feasibility for the America's Cup, and whether the City is still responsible for staging the event when the event organizers have not fulfilled their financial obligations.
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