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FROM �82. 15. 1493 15:09 ` P. 2
<br /> THE UNIVERSITY OF NORTH CAROLINA'S :
<br /> BUSINESS AND TECHNOLOGY EXTENSION SERVICE
<br /> CENTRAL CAROLINA REGIONAL CENTER
<br /> , afEffirsomionfwat r 6118 Airfron Ruud,Suite B • Chapel I fill. NC 271J4 • 019)4)4'2'0389
<br /> K>x;lcatvni s>�vic;r r I rv'rllxs February 15, 199 3
<br /> 1Chirut(, t-t
<br /> 1V,wero f ttlnlimi tlnir,•I,ity TO: Dan Kidd, President
<br /> (-00,,,..„1,H Triangle Youth Hockey Association (TYHA)
<br /> +•Ittlilk
<br /> 1 YIi)71.1-Ni I,UM 124
<br /> 11000 Ted Abernathy, Director
<br /> Orange County F,cono>aic D lopment Commission
<br /> N.r(hYrt„�rn Cenrr+
<br /> 1 nrl,.,n,1.,luwn Sr.,,.1111lrr„1'Y FROM; Barry Phillips, UNC-SBTD
<br /> «,.
<br /> I n.:M,4, Dan Parks, UNC-SBTDC dii, •
<br /> '1nr1lilerx Perthr m.cri G{
<br /> 1Innq,in of Minh(:,.data RE: TRIANGLE COMMUNITY ACTIVITY CENTER (TCAC)
<br /> ::eatln,t,.
<br /> .,60i "•1i"1 In Mid October 1992, the UNC-SBTDC was briefed at a
<br /> Northern Philmont Cram meeting at the office of the Orange County Economic Novel-
<br /> WInMtnl.'.irn1 ir.itIlniw,IIr opment Commission in Hillsborough regarding TYHA'a need for
<br /> Ir,„r.,,i,rt,,wntf,l.�ntl,., a full revision of a request for financing the Triangle
<br /> .n 1;,nYwlwtrn
<br /> :4nnit c.o.,A.A. Community Activity Center (TCAC) .
<br /> u•un,•.n s+knt
<br /> •
<br /> ,•,7in,+ Subsequently, we outlined a proposed Business Plan/Loan
<br /> �r,raul,'IYirtt)<IrJ4lrtt «., Proposal and began gathering information from Mr. Dan Kidd,
<br /> t,.�•r,fi+ad N,„,1,{.„„,1,.. President of TYHA. TYHA will be the borrower.
<br /> xt I:h,�,t•I Iftll
<br /> Ita,ry;L
<br /> Itltl,71•tI+1 We visited the current Daniel Boone Ice Rink facility
<br /> Ihd.I•a,.„:I, as part of this information gathering ii,ri i..,M1H1 4 g process. TYHA has
<br /> (..p..Ft,,,�:t11,f, leased the Daniel Boone facility for ice related sports for
<br /> the past two seasons.
<br /> 1.,,n,'rillr&,art(Inih•t,i1,•
<br /> I4nd,nk Siam•lturw•i•ity
<br /> e(ol.46('nlftg. As information was provided, the Business Plan was
<br /> ,;;1j:hill;,, , amended and augmented with copies being seen by Ted Aber-
<br /> nathy and Dan Kidd on a regular basis for their comment and
<br /> I'.r.ignfA'OIP, input. The current Business Plan is attached.
<br /> I.1,1 I Audi„.Iulivcr,ii)•
<br /> 01.,,p,,,, Also, a model 10 year cash flow projection has been
<br /> N.■tf«siHrrl,r.rn,n developed allowing variations in cumulative 4 income and
<br /> ,,I'.■hrdt t,Ip.,taw(udv r,itf expenses. rt was assumed that a $6.7 million loan over 10
<br /> Ilr,dn,,(,,, years @ 04 would be required.
<br /> !,,„II,,,.«..n,t,r,t<,•. Figures from TYHA assumptions of income and costs from
<br /> ,.,n,r„.).1.1tionl,(,unlina thie Daniel Boone facility were the basis of these projec-
<br /> V.,.,mr.., tions
<br /> „�,, , amended where, appropriate by independent data. Eval-
<br /> wticlAl r�,r�tA�t► uation of pool income was based on data provided by the
<br /> PI►f u;kAMB Orange County Department of Parks and Recreation.
<br /> IMIN t odmn.aJ%d,mdroy
<br /> lnioiail°."`ont'1`I These projections demonstrate that even with 1% cumula-
<br /> ,,.a,;nn.1164m,,.ImrI4It,.t tive income increase and 44 cumulative cost increase, fi-
<br /> nancing the loan over 10 years at $1,016,473 per year is
<br /> i Ftti1 75X11 I ICF f eas ibl ee•
<br /> Pan 4 I NAtionit NenraR if Small 11u•mm[krwIpmerN Center• • An buer•t((tri•utlanri Pietism Billie UntirroiIr of Noah Camlu•
<br />
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