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Sportsplex CIP Analysis
<br />Major Capital Investment Project Assumptions
<br />(i) Programmable Lobby Space
<br />110,000
<br />In addition to cosmetic upgrade in alreadyFY12 /13 CIP
<br />(ii) Fitness Mezzanine
<br />950,000
<br />Conservative estimate, including all equipment
<br />(iii) Turf Addition
<br />1,900,000
<br />Based on updated costs of construction and site work
<br />(iv) Court Addition
<br />900,000
<br />Based on updated costs of construction and site work
<br />Combined Cost
<br />$ 3,860,000
<br />Incremental Revenues
<br />A. Lobby
<br />Impact of Lobby Renovations on Memberships
<br />220,000
<br />10% growth on current membership of 4,000
<br />Incremental Impact on Kidsplex
<br />50,000
<br />Flexibility from new Group X room expansion
<br />Incremental Impact on Other revenue based programs
<br />42,000
<br />Birthday Parties and Inflatables
<br />Total Year One Revenue
<br />312,000
<br />FY 13/14 to FY 18/19 (5 years of CIP)
<br />1,962,000
<br />Over five years with program growth
<br />B. Fitness Mezzanine
<br />FY14/15
<br />220,000
<br />400 new members @ $550 per member
<br />FY15/16
<br />368,500
<br />plus 270 for 670 members @ $550
<br />FY16/17
<br />368,500
<br />670 members @ $550
<br />FY18/19
<br />368,500
<br />670 members @ $550
<br />FY14/15 to FY18/19 ( 4 years of CIP)
<br />1,325,500
<br />C. Turf Addition
<br />Membership Growth
<br />FY15/16
<br />184,250
<br />335 members @550 /member
<br />FY16/17
<br />184,250
<br />335 members @ $550
<br />FY17/18
<br />184,250
<br />335members @ $550
<br />League /Academies /Prog. /Rental Revenues over 3 years
<br />1,567,000
<br />FY15/16 to FY17/18 ( 3 years of CIP)
<br />2,119,750
<br />D. Court Addition
<br />Membership Growth
<br />FY16/17
<br />184,250
<br />FY17/18
<br />184,250
<br />League /Academies /Prog. /Rental Revenues over 2 years
<br />314,000
<br />FY16/17 to FY17/18
<br />682,500
<br />Five Year Total Incremental Revenue Generation
<br />$ 6,089,750.00
<br />Five Year Total Incremental Operating Expenses
<br />$ 2,959,580.00
<br />Net Operating Return
<br />$ 3,130,170.00
<br />Summary Comments:
<br />a. Total CIP costs of three renovations is approximately $3.86mil spread over four years.
<br />b Net Contribution to operating fund over five year period CIP timeframe is approximately $3.1mil.
<br />c. Each phase of this expansion generates revenue flow greater than capital investment within Five Year CIP
<br />d. Through the considerable leverage on RFP resources and extrapolating net contribution in FY18/19, approximately five years
<br />the total contribution to the Fund Balance is $4.1million ($3,130,00 +$980,000 = $4,110,000) which pays back for all phases of the CIP
<br />Notes:
<br />Conservative expansion assumptions have membership growth of 43.5% fro, 4,000 to 5,740( 400 Lobby +670 Mezzanine +670 Turf /Court) 81
<br />By year 5 that represent an annual incremental, sustainable net contribution to the Fund Balance of approximately $1,000,000
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