HomeMy WebLinkAboutCity Council Committees - Public Facilities Distict Board - 07/31/2008 (3) KENT
W.SMINGTO.
Public Facilities District
July 31, 2008
3:30 p.m.
Board Members Present: Chair Mike Miller, Vice-Chair Greg Haffner,
Secretary Lew Sellers, Randall Smith and Cass Prindle.
Others Present: Economic Development Director Ben Wolters, Finance
Director Bob Nachlinger, Tim Higgins, General Manager of the Events Center,
and Brad Tong of Shiels Obletz Johnsen.
I. Call to Order
a. Introductions. Chair Miller called the meeting to order at 3:30
p.m. and introductions were made.
b. Approval of Minutes. Sellers moved to approve the minutes of
May 29, 2008. Prindle seconded and the motion carried.
• U. Project Overview and Update
a. Overview of Project Budget. Brad Tong distributed copies of the
monthly budget report and noted that in July 2007 the entire project
budget was $78.6 million and that with the supplemental budget
approved in July 2008, the revised budget is now $84.5 million.
Wolters explained that the additional funds will be used for committed
and required additional costs, additions for revenue and safety, and
improvements to quality, efficiency and revenue. Tong explained the
figures on the monthly report and noted that approximately 62% of
the revised budget has been spent.
b. Overview of Project Schedule. Tong noted that the only change
in the project schedule is that, even though the contractual completion
date for Drop the Puck is January 11, 2009, the contractor has
committed to an early completion date of January 2. He noted that a
community opening event is planned for January 2. Wolters added
that the Thunderbirds have an option to play three games in the
Events Center during the week prior to January 2, and that that will be
determined in mid-October. Tong commented that everyone has
worked very well together to maintain the aggressive schedule.
• C. Current Status of Construction. Tong noted that the
subcontractor buyout and the exterior masonry are 100% complete,
Public Facilities District July 31, 2008
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and that the current critical path activities are mechanical, fire
sprinklers, building enclosure elements including glazing, and
preparation of the arena ice slab. He said that the concrete pour will
begin on August 18 and will take at least 18 hours. He noted that
there are approximately 120 laborers on site daily, including
weekends.
d. Status of Design. Tong said design of the plaza fronting James
Street and interior design for the club lounge had been deferred until
the Council's approval. Wolters distributed copies of a list of the
Prioritized Improvements For Supplemental Funding, a Summary of
Project Costs and Potential Revenues, and a Contingency Use
Chronology, and explained each. He clarified that the improvements
will be paid for by the City, not the Public Facility District. He reported
that advertising, sponsorship, and suite sales are all going well, and
that there are two serious prospects regarding naming rights.
e. Concessionaire Selection. Wolters said three national firms -
• Center Plate, Savor, and Ovations - were recently interviewed, and
that the panel will hold a conference call on Friday, at which time a
consensus on a recommendation may result. He explained the
financing, contract, and evaluation methods.
III. Operator Update
Tim Higgins noted that three people have been hired recently - a
Director of Marketing and Sales, a Director of Operations, and a
Human Resources/Administration person. He explained who was hired
and what their duties will be. He added that he is still looking for a
Director of Finance and a Box Office Manager. Higgins noted that
three arena football groups have expressed interest in playing in the
facility, spoke about the transitioning going on amongst those leagues,
and said there are many things to consider before making a decision.
He noted that dates for other events are being set, and that two weeks
of grand opening events are being planned with the City.
IV. Sales and Marketing Update
Colin Campbell was not in attendance, so no update was given.
V. Finance Report
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a. Financial Update. Nachlinger outlined revenues as of June 30,
2008, totaling $65,093,968, and expenditures totaling $36,033,210.
He also provided information on payments which have come into the
City from the Public Facilities District and gone out to contractors.
b. Review of State Sales Tax Revenues. Nachlinger noted that
sales tax revenue through July totals $356,783.08, and that $720,000
in sales tax is anticipated for the year.
Nachlinger expressed concern about a reduction in revenue due to the
streamlined sales tax which went into effect on July 1st, and which will
affect both the City and the Public Facilities District. He anticipates
coming to the PFD next year requesting a shift in funds from the
State's portion to the City.
• VI. Other Business
Upcoming Action. It was noted that no action is foreseen before the
end of the year.
Meeting Dates. Miller noted that the next regular meeting date is
September 25th at 3:30, and that the regular meeting in November
falls on Thanksgiving. It was agreed to tentatively reschedule the
November meeting to December 4th at 3:30 p.m., possibly at the
Events Center.
VII. Adjournment
At 4:48 p.m., Sellers moved to adjourn. Smith seconded and the
motion carried.
Brenda Jacobe , MC
City Clerk