sales and operations overview. sales and marketing agreement pre-opening agreement signed in 2006...
TRANSCRIPT
Greater Wenatchee Regional Events Center Public Facilities District (GWPFD)
Sales and Operations Overview
Sales and Marketing AgreementPre-Opening agreement signed in 2006Provides commission only payment to Global
Entertainment (17% of all sales)Global is selling on behalf of GWPFDDeposits to GWPFD account upon executed
contractContract between PFD and City to provide
fiscal management of the GWPFD account
Management AgreementManagement Agreement supercedes Sales
and Marketing Agreement upon completion of building and assumption of lease or purchase of events centerRates of payment for Management and term of
contract established to achieve tax exempt status (i.e. 1 yr vs. 5 yr)
Budget approved in June each year by GWPFD boardRates, Revenues and Expenses, Net to debt
serviceSupported by Contingent Loan Agreement with
City
Rate Comparisons
Current city operation is subsidized – not all costs of operation, maintenance, accounting, marketing and management are assessed to the ice arena fund
Goal for all is to have a self-supporting facility as a greater year around asset to the region, not a single purpose facility
Ice Rental Rate consideration based on comparisons with regional facilities
Facility Surveyed Location Cost/HrKent Valley Ice Center Kent $310Comcast Arena Everett $295Castle Ice Renton $290Lynnwood Ice Center Lynnwood $281Bremerton Ice Arena Bremerton $250Harry Sprinker Tacoma $225Toyota Arena Kennewick $225Eagles Ice Arena Spokane $160GWREC (Proposed) Wenatchee $160/$200Riverfront Ice Arena Wenatchee $120
Construction Cost comparisonConstruction cost concern
Allied Health – cost per sfEvents Center – cost per sfMay 2007 costs were evaluated by Robert
Knowles and bid by ICC (i.e. electrical, prevailing wage)