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FINANCIAL IMPLICATION <br /> There is an initial fee of $2,500 that must accompany the application. All unsuccessful <br /> applications are refunded $2,000. If Roseville is selected as the host location, Roseville <br /> must remit an additional $7,500. The budget, based on previous experience, would result <br /> in more than enough revenues to cover the cost of the event and the repayment of the <br /> application fee. The estimated economic impact to the immediate Roseville area is $2.5 <br /> million. <br /> STAFF RECOMMENDATION <br /> Based on the past successful State, National and International sporting events hosted by <br /> the City of Roseville and the significant economic and cultural benefits and the opportunity <br /> available to local senior citizen participants, staff recommends approval of the application <br /> for the hosting of the U. S. National Senior Winter Olympics in either 2004 or 2006. <br /> COUNCIL ACTION REQUESTED <br /> Motion authorizing the application for the hosting of the U. S. National Senior Winter <br /> Olympics in either 2004 or 2006 with the application fee to be taken from the 2002 <br /> Contingency Fund. <br />