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At this time, John Stock, General Manager of the Triangle Sportsplex made a <br /> PowerPoint presentation. <br /> Orange County <br /> Sportsplex: Situation Analysis <br /> - Under RFP management, the Sportsplex has grown revenues 75% over 6.5 <br /> years......sustainable annual growth of 10%. <br /> - Annual operating costs have been controlled at the same levels they were at the <br /> contract inception in 2005. RFP has a proven record of leveraging its staff and <br /> management to support significant growth. <br /> - Over the contract term Sportsplex financial performance has improved from annual <br /> losses of ($800,000) prior to RFP, to consistent annual net operating results of <br /> $400,000. A $1,200,000 improvement! <br /> - Sportsplex currently has a $1,100,000 Funds Balance <br /> - But.....Because of growth we lack space for rapidly growing programs for children, <br /> adults and seniors. <br /> - RFP can meet growth needs and achieve similar incremental financial results through <br /> a four stage physical expansion of the existing Sportsplex facility. <br /> What is needed to make Vision a Reality <br /> (Schematic Design) <br /> ❑ Four Phase Renovation/Expansion <br /> • Lobby (+ $110,000) <br /> • Fitness Mezzanine over Pool ($950,000) <br /> • Multi-use Turf ($1,900,000) <br /> • Versatile Court ($900,000) <br /> Lobby Renovation <br /> - Addition of 1,843 sq. ft. of Group X and Specialty training space. Modest cost and 18- <br /> month year payback. <br /> - Movable wall design divides the main Group X room into 5 distinct venues — significant <br /> program flexibility and Kidsplex space. <br /> - FY12/13 CIP includes $165,000 for Lobby cosmetic facelift. <br /> (Flooring, Paint, Lighting). <br /> - Design review revealed opportunity to add 1,843 sq. ft. of programmable Group X and <br /> Specialty training space at a modest incremental cost of$110,000. <br /> - A movable wall design can divide the main Group X room into 5 distinct venues — <br /> facilitates significant program flexibility, lobby events and Kidsplex space. <br /> - This investment results in incremental programming and membership revenue growth <br /> of$312,000 in the first year after completion. <br /> - Leveraging staff and overhead, results in $200K annual contributions to the Fund <br /> Balance - (18 month payback) <br /> Pool Fitness Mezzanine <br /> (overlooking pool) <br /> - Highly cost effective mezzanine construction process resulting in high return on <br /> investment. <br /> - 5,400 sq. ft. <br />