08-03-2011 ICE MIN - Laserfiche WebLink

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6• 2011 Financial Update Arena Manager Czech presents numbers for 2011 Jan-June 30`h. All numbers are on target for the year to date. Ice rentals projected to be up for the year. Other income noted is from the bleacher fund. Czech notes that utilities may be a bit higher due to unexpected warmer weather. Commissioner Gumphrey inquires about the current building debt service. Czech notes that it is approximately $200,000 per year which is paid in two installments, once in July and the remaining December. Debt service on the building will be completed in December of 2013. Arena Renovation Vice Chair Johnson, notes that even though there was not a quorum at the last commission meeting, a lot was accomplished dialog wise, such as what communications have been received by the Blue Line Club as well as Youth Hockey regarding financial commitments, based on the inquiry letter that Chair Martin sent out. Chair Martin notes that he has not received any further information from Youth Hockey or the Blue Line Clubs regarding their financial commitments to the project as of the meeting. Johnson notes that the only user groups that we have heard back from are the Girls Blue line club and the ERFSC, and we understand that the school district can't give us any information at this time. Martin notes there will be a special meeting of the Girls Blue Line Club regarding fundraising, etc. They are on board, just need to decide if a fee will be added or if they will seek out advertising, etc to raise revenue. Commissioner Malzahn notes that he spoke to Elk River Youth Hockey Association President Lyle Slawson who wished to convey that they are interested in the renovation, however, the financial commitment that was proposed they felt, was too large for the board to make a decision on, they would need to get feedback from the membership at large. They are going to do an online poll to see what the general consensus is. They expect an answer