Agenda - 09-26-2013 - 2 - Laserfiche WebLink

Browse Search

123 By the fifth year annual incremental contributions to the fund Balance will be $1,000,000 and the combined costs of this four phase expansion ($3,860,000) would be fully paid back over a full five year period. Logistics: Parking issues have been discussed with the Town of Hillsborough with a favorable response. There are still site issues to be determined for the turf and court building addition(s). These may both be entirely contained on the existing land footprint however, if not, the potential is there to acquire the four lots along Business 70. The owner of the two lots immediately adjacent has recently made an unsolicited offer to sell and we understand from him the owners of the other lots may also be motivated to sell. All four lots offer an additional 2.8 to 3.0 usable acres which would provide the further potential for outdoor Sportsplex revenue generating programming not contemplated under this proposal. Economic Impact: The Sportsplex tracks visitors to the facility on a "turnstile" basis. The current pace is 480,000 annual visitors, making The Sportsplex one of the most visited facilities in Orange County. The fact that this exceptional facility resides within the County encourages residents to stay for their fitness, recreation and entertainment needs. This in turn results in significant dollars staying within the County both in monies spent at the Sportsplex as well as local restaurants, food and convenience stores, shopping, etc. The above noted expansion would add another 20,000 visitors per month for a combined annual visitor base of 720,000. Major events at the Sportsplex such as swim meets, skating competitions, hockey tournaments, triathlons, average 750 participants and twice that number of spectators for each event. These events attract regional and state wide visitors. While they are not as hotel /meal intensive as say major national soccer showcases, our almost weekly regional events bolster the local economy, and The Visitor Bureau has estimated the impact on the local economy to be at least $2,112,000. Not contemplated by these numbers is the impact of dollars that remain in the County by participants not leaving to go to facilitates outside of Orange County for their daily fitness and recreation needs. This is estimated to be at least $8,448,000 annually. The addition of indoor turf and courts to the Sportsplex will double the number of events for a further $10,560,000 annual injection /retention. Fund Balance Update: As of January 31St, the Sportsplex has a Fund balance of $1,100,000. Remaining FY12/13 CIP will deplete that to $600,000. However over the remainder of the current fiscal year the net funds generated will be $150,000 for a year end fund balance that will pay for all of FY13/14 CIP items. Conclusion: The Orange County Sportsplex is already one of the premier recreation and wellness facilities in the State. With the proposed expansion, the Sportsplex would feature the extraordinary combination of ice, pools, fitness, turf, and court amenities combined with outstanding programming for all ages, including seniors. RFP are specialists in "Lil" programs which feature equal parts early childhood development and fitness for children resulting in orientation to an active lifestyle that can help combat childhood obesity. The Sportsplex would truly become a nationally recognized recreation facility. It would become an even more compelling community meeting center for healthy lifestyle activities. Incremental annual contributions to the Fund Balance from this expansion would completely liquidate the capital investment in approximately over the planning horizon and the economic impact to the County is significant.