5.3. SR 04-01-1996 - Laserfiche WebLink

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EXHIBIT A - PAGE 4 ADMISSIONS: The admissions amount was dropped to $30,000 from the Feasibility Study of $35,000. The basic agreements that exist for ticket sales is the Arena would get a base rate to cover expenses for the hours of the game and then a 50/50 % split on any ticket sales above this base rate. The base rate does change for the different Ice Arenas depending on seating capacity. In 1995-96 the agreement with Elk River High School Boys games which were/V/Varisty games was a 5600 base rate aind a 50/50% split thereafter. The total dollars for Non.-conferance ($600+$'773; Attendee, ag: 850 (Adults 490, Students 338)), Conferance ($4800+$4071.50;At: 5363(Adults 2527,Students268 I)) and Sections (5600+$615; At:636,A277,S36I) for 1995-96 Season for the boys was $11,460. The Girls IV/Varsity games were · as follows: $300 Base rate for a single game or $500 Base rate for a IV/Varsity game together and a 50/50 % split thereafter. The Girls were not in a conferance this past 1995-96 season so we worked only with the Elk River School District for an agreement The 5500 base rate for two games will most likely increase.to 5600 for the 1995- 96 season. The revenue from the girls program was $4,100 base rate plus $94.50 split for a total of 54194.50 (Attendance: 1256(Adults 793, .Students 42 I). This totals 515,655 for 1994o95. The 530,000 is based on the following: Increase in attendance due to the increase in seating capacity from 700 to over 1000, increase in adult ticket prices by 51 (1995o96:4087/2 split=S2043), the addition of St. Michael and Monticello JV/Varsity Games being held in'the Arenas ($,~800 base for each School), and the conitinued enthusiasm for the Girls program. This brings the total to $27,300 with no increase in attendence and only a base rate charge to Monticello and St. Michael. An agreement has not been worked on with these two Schools for there games which muses a caution flag to go up here unless we can gaurentee that the Arena will be available for there games very soon (Mid March) they will need to Schedule the games.somewhere else. DRY FLOOR The Feasibility Study stated the possibility' for additional usage was there for indoor soccer or other EVENTS: events but excluded them from the Study figures. We did not add indoor soccer in to this total for the details of purchasing the carpet and setting up a league has not been finalized. The Number is for other Dry Floor Events which is above 55500 for the 1994-95 season as of 111195. The events presently held are: Circus (May), Arts & Craft Show ('May), Gun Show (April), Youth Dance (June) and part of the revenue from the ERYHA Golf Tournament has gone to the building fund in the past. The committee has concluded ~er talking with the Soccer Board that indoor soccer could bring in revenues of 512,000 to 518,000 by'charging $45-565 per hour. Some Arenas acutally make more on indoor soccer than hockey because of the loxver cost of maintenance. Elk River has a growing soccer program. We believe that the spring of 1996 there will be indoor soccer in the present arena. The money to pay for the expenses will be obtained from fundraisers, ERY]-.IA Pulltabs, etc. by ERYI-.IA, the Soccer program etc.. An estimate of~,000 for the Spring of 1996 and 510,000 for Spring of 199'7 is listed on the bottom of the page. This could be increased by an agressive program with indoor soccer in the fall as well. Anoka started indoor soccer this past year (1994) and received revenues of about $12,000 the first year. Some of the expense items would be a carpet to be purchased for the floor with estimated cost of $30,000, and raising and protecting the lights. SIGN RENTAL: The committee felt with a strong campaign that sign rental could increase by 510,000 in the new arena. There is a committee within ERYHA that is working on sign rental packages and has started to contact local and surrounding community businesses for sign rental contracts. The signs will be high quality on 8' dasher boards around the rink. There is a estimated 42 and 36 possible dasher board signs in the Olympic rink and the present fink. ADDITIONAL The additional revenues sve noted on thc bottom of the page includes the soccer program and a LINE REVENUES: "statement from ERY'HA for donations toward the New Ice Arena Project. Other types of revenue are fundraising events that youth hockey does every year. The track record for the past eight years shows an average profit per year of about $15,000. The ERYHA Pulltabs, which is in operation at Dicks Reveffront Bar, would be another source of revenue. For this to be used it would need to be approved at a ERYHA Pullmb Gambling Board meeting and the State Gambling Board and a form would need to be filled out by the City of Elk River. The Pledge Drive for the new Arena is just beginning and ~ accumulated over $15,000 on 3 year pledged committments and $3065 in actual cash as of 2/24/95. There is a Arena Dinner Fundraiser scheduled for March Ill, 1995 that will raise some more revenue for the Arena. We estimate 515,000 per year should be available. We realize that this may not be able to be used as revenues in the cash flow estimate but we wanted to make a note that these will be available for other expenses or improvements. Other additional income could be special fund-raisers, and pledges from individuals, groups and industry to possibly raise and additional 550,000 to 575,000 per year. There are approximately 500 kids involved in hockey and skating within ERYHA and an additional 70-80 boys & girls involved at the High School level. Note: The bottom of the sheet shows ERYI-IA balances of their accounts as of the date stated.