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HomeMy WebLinkAboutCity Council Committees - Public Facilities Distict Board - 07/30/2015 (3) �4 ICENT 01" AGENDA City of Kent Special Events Center Public Facilities District Meeting Thursday, July 30, 2015 @ 4:00 p.m. Kent City Hall Centennial Building Room 402 Board members Mike Miller - Randall Smith - Cass Prindle - Lew Sellers - Jeff Piecewicz Officers Mike Miller, Chair - Ronald F. Moore, Secretary — Aaron BeMiller, Treasurer I. Call to Order a. Introductions b. Motion to approve the regular meeting minutes of April 30, 2015. II. Finance Reports a. City of Kent — Aaron BeMiller, City of Kent Finance Director (Board Treasurer) b. ShoWare Center — Arletta Voter, ShoWare Director of Finance III. Operation Update a. General Manager Update — Tim Higgins, ShoWare General Manager b. Marketing Update — Ryan Hart, ShoWare Director of Marketing c. City Update — Ben Wolters, Economic & Community Development Director i. Hockey Player's Legislation IV. Seattle Thunderbirds Update — Colin Campbell, Vice President/Assistant General Manager a. Thunderbird Sales, Marketing &Attendance Update b. Advertising & Suite Sales V. Other Business VI. Adjournment 115.C,�T �€wawa Public Facilities District Board Minutes April 30, 2015 4:00 p.m. City of Kent City Hall Campus Centennial Building, Room 402 Boardmembers present: Mike Miller, Cass Prindle, Lew Sellers, Randall Smith, and Jeff Piecewicz Others present: ShoWare Center General Manager Tim Higgins, ShoWare Center Director of Marketing Ryan Hart, ShoWare Vice.President Colin Campbell, ShoWare Center Director of Operations Josh Holmes, City of Kent Finance Director (Board Treasurer) Aaron BeMiller, City of Kent Economic and Community Development Director Ben Wolters, City of Kent City Clerk (Board Secretary) Ronald F. Moore and Reporter for the:Kent Reporter, Steve Hunter I. Call to Order. The meeting was called to order by Chair Mike Miller at 4:00 p.m. a. Motion to approve the special meeting minutes of January 9, 2015 and the regular meeting minutes of January 29, 2015. Lew Sellers moved to approve the minutes of January 9, 2015 and January 29, 2015, seconded by Randall Smith. Motion carried 4-0. II. Finance Reports. a. City of Kent. Aaron BeMiller, Finance Director discussed the March 31, 2015 ShoWare Center Operating Fund. He communicated that there aren't any admissions tax receipts because they are due on April 30. He noted that the City's,fund is beginning with a positive balance and stated that there wasn't much activity with the Kent Event Center Fund. He noted that the sales tax figures have a two month lag and the amount received in January is shown in March, which was about $8, 000 more than January 2014.` BeMiller discussed the conversation with the State Auditor's Office concerning the finding. He noted that the contingent loan will not be repaid. He noted that the City staff went back and came up with new language and it is being called a subsidy. Additionally, there are some other items that are in the agreement that need to be addressed. He noted that the City needs to determine how to handle the receivables because the City is receiving $18.7 million as a receivable and the ShoWare shows it as a deliverable. He noted that there would need to be a formal forgiveness. He added that the Public Facility District (PFD) bonds are refundable in 2018 and it is unlikely they would be refunded Public Facilities District Board Minutes April 30, 2015 through the PFD, but through the City. This would flip the agreement because the debt service would be a part of the City and the PFD would be paying the City. He noted that the only issue is ensuring that the sales tax credit is still able to be received if this occurs. He said it is being worked on now and a workshop will occur in mid-June to discuss this. Miller confirmed that the agreement may be brought before the PFD Board in July. BeMiller confirmed that the sales tax bonds aren't refundable. He noted that the $53 million would need to be financed. BeMiller noted that the bonds were scheduled to be retired in 2018 and confirmed that the sales tax credit would still be received. b. ShoWare Center. Arletta Voter, ShoWare Director of Finance communicated the direct event income revenue. .She:•added that the repairs and maintenance shows a maintenance category, that was paid in the first quarter, but it all was addressed at the beginning of the year so it will be under budget at the end of the year. She noted that the utilities increase is because of the playoffs. Miller highlighted the contract that was paid in the beginning of the year and said he is used to showing it monthly. Higgins verified that "Frozen" is November 11 - 16 and they may add another date. He noted that over 33,000 tickets have been sold to the event with a capacity for 39,000 to be sold. Sellers moved to adopt the 1st Quarter ShoWare Center Income Statement, seconded by Smith. Motion carried 4-0. III. Operations Update a. General Manager/Marketing Update. Ryan Hart, ShoWare Director of Marketing - Hart noted that attendance since the ShoWare was opened is 2.3 million with 130,622 attending events this year. He noted that they are 4,000 ahead of the 2014 pace. He added that Theresa Caputo will be completely sold out before June and they have added the capacity for 5,000 more people. He noted that Rock and Worship Road Show was sold out on March 12 and they have booked for next year. He announced that the Scorpions with Queensryche will be at the ShoWare in October and it is 75 - 80 percent sold out from being announced last weekend. He discussed the Washington FIRST Robotics Championships and said it was a huge success. He noted that they are working on 2016 dates. "Frozen", due to popular demand, added another date on November 13 and will be here from November 11 - 16. Miller confirmed that there weren't any new schools that have booked their graduation ceremony at the ShoWare. Miller noted with Higgins that there are dates in December they are looking to fill. 2 Public Facilities District Board Minutes April 30, 2015 Higgins discussed the Tacoma Stars and noted that they are looking to work with the Thunderbirds for assistance with filling seats. He discussed the dates of the 10 game Stars season. Sellers verified with Higgins that midweek sales of adult hockey are going well at the facility. Sellers added that there has been tremendous growth in both the adult and kids organizations. b. Seattle Thunderbirds Update. Vice President Colin Campbell communicated that the hockey legislation is awaiting execution and stated that it is good legislation. He discussed the hockey season and stated that attendance went well this year and it was good to have a longer season. He noted that they had the third youngest team in the league and they should be a real good group next year. He noted that they are getting ready for the Bantam Draft and NHL Draft. Work on schedules begins next week and they are about 3/4 of the way through it, he said. He noted that during the second half of the season either Portland or Everett will be in the ShoWare. Overall, he stated that the schedule is shaping up nice. He communicated that contracts are going well and Muckleshoot, Les Schwab have resigned, but Valley Medical is looking to back off everything except "Pink the Rink" night. The hockey school is in August and training camp is late August. The exhibition is September 17 against Victoria and the first home game is on October 3. Campbell noted that there will only be 15 or 16 games in the beginning of the season and it will pick„up the second half of the season. Miller communicated that the facility is about 200 over last year's attendance numbers. Campbell noted that the big challenge is what to do with three Wednesday night games. Miller confirmed with Campbell that most of the suites were sold during the year. Campbell also noted that naming rights for the upper lounge is being deliberated now and they are working to get the agreement executed. The attendees confirmed that the next meeting is July 30, 2015. Meeting adjourned at 4:37 p.m. Ronald F. Moore, MMC Board Secretary 3