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MEMORANDUM <br />TO: Ice Arena Commission, Members <br />FROM: Rich Czech, Arena Manager <br />DATE: November 4, 201 I <br />SUBJECT: Agenda Memo -November 9, 2011 <br />5. Financial Update <br />Attached for your review is the budget information for the years 2008 - 2010 as well as <br />current information for the 2011 budget and the requested budget for 2012. Al] <br />indications suggest that ice sales will supersede budget numbers while the overall <br />expenditures shall stay flat or below projected budget numbers. <br />Concessions revenues have already exceeded 2011 budget revenues and is on pace to be <br />our most profitable year since the Arena took over operations. <br />6. Ice Arena Renovation Undate <br />On October 10th 2011 a joint City Council and School Board meeting was held to <br />discuss the possibility of collaborating on several items, one in which was the <br />renovation of the Arena. Discussion took place regarding the project; in the end the <br />School Board is going to discuss their role in the renovation at one of their next work <br />sessions. During the discussions, the possibility of adding a field house to the east side <br />of the Olympic rink was discussed. The possibility of a field house was discussed in <br />2006 when an explanation of the lobby was being considered. A partnership of the <br />City and the School District to renovate the Arena and to build a field house may be, <br />in the long run, beneficial to the city. If the School District and the City were to agree <br />to jointly share in the cost of the operation of a multipurpose facility the city may <br />benefit from the cost shares. <br />The other customers that were approached to help finically support the renovation, Elk <br />River Youth Hockey, Elk River Boy's Booster Club, Elk River Girl's Booster Club, <br />and the Elk River Figure Skating Club have all verbally committed to supporting the <br />project, but as of this time I have only received a written commitment from the Elk <br />River Skating Club. I did however talk to Matt Westgaard, the Elk River Girl's <br />Booster Club President, and he indicated that their board did vote on a proposal and <br />that he would have it to me shortly. Lyle Slawson, Elk River Youth Hockey's <br />