5. - 11. ICESR 01-09-2008 - Laserfiche WebLink

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MEMORANDUM TO: Ice Arena Commission, Members FROM: Rich Czech, Arena Manager DATE: January 9, 2008 SUBJECT: Agenda Memo -January 9, 2008 5. 2007 Financial update Due to the fact that the cities fiscal year has just ended, the financial information regarding the Arena has not been fuaalzed. ,At the ,April .Arena Commission meeting the 2007 Arena's budget will be completed and will be ready to review. 6. Lobby expansion for the Arena /Naming rights for Arena Bill Maertz and I attended the December 10th city council workshop to discuss the Area~a lobby expansi~,n. $elow are xhe minutes taken,during the city councils work shop. . Ms. Johnson presented the staff report. Councilmember Farber indicated that the cost estimates seem to increase every time the arena expansion is discussed. He questioned if the locker rooms are included in this estimate. Mr. Maertz explained that the locker rooms have been included at the request of the school district. He noted that the locker room addition would not move forward without a financial commitment from the school district. Councilmember Farber questioned if the estimate seems high. Councilmember Gumphrey indicated that the cost for construction around $200 per sduare foot is reasonable. Mr. Maertz stated that the arena expansion could be designed around a budget if the C:ounciI desires. Councilmember Gumphrey stated that he believes it is time for the city to step up and help the arena program. He noted that construction costs are not going down and he believes once the arena expansion is complete, the arena would experience a substantial increase in revenues. Mayor Klinzing indicated that she believes the arena expansion is a great project but she does not see moving forward at this time due to financing issues. She noted that she is not interested in seeing this project being funded through a tax levy. Counciliiiember's Zerwas and Motin also expressed concerns over this project being financed through a tax levy. Councilmember Farber stated that he would be interested in seeing more concrete estimates. Ms. Johnson indicated that staff will obtain quotes for architectural services needed in order to get a more concrete price estimate and present the quotes to the Council for further discussion at a future meeting.