Considers and take appropriate action on a request for the County to Act as Endorsing County for, and to appoint Circuit Events Local Organizing Committee ("CELOC”) as its exclusive designee and Local Organizing Committee for, application to participate in the Texas Event Trust Fund Program ("ETF”) with respect to the ABB Formula E World Championship to be held at the Circuit of the Americas ("COT

Staff Report & Agenda Item Details

On July 21, 2026, the Circuit Events Local Organizing Committee (CELOC) requested Travis County’s consideration to be the endorsing entity for the ABB F1A Formula E World Championship Event to be held at Circuit of the Americas (COTA) facility for years 2027-2031. Being the endorsing entity allows CELOC to apply for the Office of the Governor’s Major Events Program which assists in paying for authorized costs to hold the event.<br><br>As part of the State’s economic development and tourism initiatives, the State of Texas established the Event Trust Fund (Program) to attract major events to Texas. The<br>Program consists of 1) the Events Trust Fund, 2) Major Events Reimbursement Program (MERP) and 3) Motor Sports Racing Trust Fund (MSRTF). The Program permits local government and local organizing committees to apply to the State for the establishment of an event trust fund in which to deposit certain taxes to help pay for certain eligible costs associated with conducting events if all statutory and administrative requirements are met under Texas Government Code Chapters 478, 479, or Chapter 480. The trust funds are outside the operating budget of the State. The Texas Legislature has made hundreds of million of dollars available via the Program throughout the State to incentivize tourism. <br><br>The attached two-party agreement between Travis County and CELOC outlines the responsibilities for each entity. The agreement includes an exhibit that CELOC will execute annually to certify that all documents and certifications made to the State are true and correct prior to the County signing any affidavits or any related documents.<br><br>Travis County’s PBO-EDSI staff will work with CELOC on all requests for the program. Please refer to the attached letters for additional information about the CELOC request and the notification of site selection from ABB Formula E.