HomeMy WebLinkAboutCity Council Committees - Public Facilities Distict Board - 04/29/2010 Public Facilities District
April 29, 2010
Boardmembers Present: Mike Miller, Greg Haffner, Lew Sellers, Cass Prindle,
Randall Smith
Others Present: Colin Campbell, Bob Nachlinger, Tim Higgins, Patrick McClusky,
Julie Pulliam, Steve Hunter, John Hodgson, Beth Sylves, Tom Brubaker
I. Call to Order
The meeting was called to order by the Chair at 3:30 p.m.
a. Introductions. Everyone introduced themselves.
b. Approval of Minutes. Miller moved to approve the minutes of
January 28, 2009. Prindle seconded and the motion carried.
II. Finance Report
a. State Sales Tax Revenues. Nachlinger reviewed the Public Facilities
District Fund for March 31, 2010, and anticipates a zero balance. In answer to a
question, he stated that debt service payments are due June 1st and December 1st.
He explained that the operating fund takes in admissions tax and any residual
income from SMG and pays off expenditures related to the Event Center, and again,
revenues equal expenditures for a zero balance. He went on to review the sales tax
revenue and said initially he was concerned because the December number reflects
the increase in the sales tax from .0033 to .0037, but doesn't actually show much of
an increase. Nachlinger is hopeful that the retail sales will begin to increase again.
b. ShoWare Center Income Statement Update for 2010. McCluskey
reported the net income loss for January was $7,354, February had an income of
$12,056 and in March the loss was $88,604 and the year-to-date actual for the first
three months was approximately a loss of $84,000. He said on a positive note, that
the indirect expenses were lower than 2009, and continually hit the monthly
projected budget. He noted that they are trying to find ways to keep the indirects
down and the suites sales, advertising and club are on budget as projected. Higgins
noted the variance did not happen the first quarter because one event effected the
bottom line throughout every aspect of the budget. He stated that they are actively
pursuing making the variance in the second half of the year with the events
planned.
III. Operator Update.
a. Event Booking/Attendance. Sylves reported that the total attendance
since opening is over 440, 000, the web site is averaging 800-1000 visitors on non-
event days and that number goes up after events are announced.
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Public Facilities District April 29, 2010
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b. Marketing Update. Sylves reported that the responses to the surveys
have been very positive. She then outlined all upcoming events.
IV. Seattle Thunderbirds Update.
a. Sales and Marketing Update. Campbell reported on the bantam draft
for future players, and that a couple of local kids got drafted. 'He noted that a
renewal deadline is approaching for season ticket holders and that they project a
90% renewal on season ticket holders. He explained the two intern programs, one
geared toward summer events and the other will be sales oriented. He went on to
explain that the sales staff started collecting data on single ticket buyers and sent
out emails explaining the new 24 flex ticket package and will follow up with phone
calls. He mentioned that this ticket package will solve commitment issues and noted
that this package will also be marketed to surrounding businesses for their
customers and employees.
b. Advertising_and Suite Sales Update. Campbell mentioned renewed
interest in suites from buyers in the corporate business area. He stated that they
are working on earlier scheduling, and that opening night will be September 25tn
against Portland. He discussed keeping the 2 for Tuesday each month, and making
adjustments to the schedule for this year.
V. Resolution — 2010 Meeting Dates.
a. Brubaker noted the resolution is required by the bylaws for setting the
meeting dates. He stated that it is a very straight forward resolution and sets the
regular meeting date, time and location. Haffner moved to change regular meeting
schedule of the Board of Directors from a monthly to a quarterly schedule, meeting
at 3:30 p.m. on the last Thursday of each January, April, July and October. Sellers
seconded and the motion carried. Resolution No. 2010-1 was adopted.
VI. Adjournment.
a. The meeting adjourned at 4:38 p.m.
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Mary Simmons
Deputy City-Clerk
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