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HomeMy WebLinkAboutCity Council Committees - Public Facilities Distict Board - 01/29/2009 (3) • • 4100 KEN WASHINGTON SPECIAL MEETING Public Facilities District January 29, 2009 3:30 p.m. Board Members Present: Chair Mike Miller, Greg Haffner, Lew Sellers, Cass Prindle, Randall Smith Others Present: Brad Tong, Bob Nachlinger, Ben Wolters, Colin Campbell, Tom Brubaker, Ron Harmon, Beth Sylves, Julie Pulliam, Steve Hunter I. Call to Order. a. Introductions. The meeting was called to order by Mike Miller at the ShoWare Center at 3:30 p.m., and introductions were made. b. Approval of Minutes. Haffner moved to approve the minutes of the meeting of October 30, 2008. Prindle seconded and the motion carried. II. Finance Report. a. Financial Update. Finance Director Nachlinger noted that as of December 31, 2008, total expenditures were nearly $75,000,000, and that there is $2.4 • million in the PFD Fund. b. State Sales Tax Revenues. Nachlinger stated that sales tax revenue was down substantially in December. He said the average amount collected was $72,500 per month for the past ten months, and that only $48,000 was collected in January. There was a brief discussion about the option of raising the amount of the tax rate up to .037% after July Isc III. Proiect Overview and Update. a. Final Project Budget. Brad Tong distributed copies of his project report and monthly budget report. Wolters said it is expected that the project will be completed at approximately $81,000 over budget. He explained how this figure was determined, and pointed out that it is less than one-tenth of one percent of the overall project cost. Brad Tong emphasized that these numbers are projections and that the final costs won't be determined for several months. b. Closeout of Project. Tong noted that 94% of the construction budget has been spent or invoiced. He reiterated that the budget is projected to close at or near a zero balance. He reviewed the schedule, noted that punch list items will be completed within a month, and said design for the ShoWare sponsor fagade sign is nearly complete. He and Wolters then answered questions from Board members regarding costs, state certification, and liens. IV. Operator Update. • a. Grand Opening Report. Beth Sylves reported that the Grand Opening was a huge success, that feedback from the public was positive, and high ranking • Public Facilities District January 29, 2009 Page Two officials from SMG found nothing negative. She added that the media coverage was outstanding, that there is a lot of talk about the Center in the entertainment industry, and that she has received many inquiries on upcoming events. b. Media and Marketing Plan for 2009. Sylves and Colin Campbell updated the Board on suite sales, noting that some sales were lost due to the downturn in the economy. Campbell added that new clients are looking at the suites and advertising packages. Wolters noted that infrastructure is in place for a reader board in the future, and agreed to talk to the Parks Department about using the Kent Common reader board. It was noted that advertising on the Zamboni is available. c. Events Bookings for 2009. Sylves noted that many concert promoters have expressed interest in bringing events to the Center, but that not as many entertainers as usual are currently touring due to the economic downturn. After a discussion of potential events including arena football, it was noted that food and beverage sales have been higher than projected and that although attendance is lower than expected, the tickets purchased have been priced higher than projected. • Upon a question regarding the policy on noisemakers, Sylves explained that although some people feel more noise is needed, they are reluctant to negatively impact others. She said there may be some flexibility, but that they want to protect the integrity of the event for all spectators. V. Seattle Thunderbirds Update. a. Attendance, Sales and Marketing_Update. Colin Campbell stated that he continues to work on suite sales and sponsorship commitments. He distributed copies of information on their media promotions including print, radio, and television and explained each in detail. Sylves added that there will be a media reception next Friday. VI. Other Business. a. Parking (Added Item). Wolters noted that parking was a challenge in the first few weeks but that patrons are now learning where to park. Sellers stated that parking on the night of a hockey game at the Center and a basketball jamboree at Kent Commons was handled very well. b. 2009 Meeting Dates. It was confirmed that the next meeting dates will be March 26 and May 28, and that all future meetings will be held in the ShoWare Center. VII. Adjournment. Sellers moved at adjourn at 5:10 p.m. Prindle seconded and the motion carried. • Brenda Jacober, CM City Clerk