appendix f arena development case studies
Transcription
appendix f arena development case studies
Confidential CITY OF RICHMOND PARTNERING COUNTIES CORPORATE SPONSORS ARENA MARKET VALIDATION AND FINANCIAL FEASIBILITY STUDY VOLUME III OF III APPENDIX PRESENTED BY: BARRETT SPORTS GROUP, LLC POPULOUS SPORTS ARCHITECTS WESTON SPORTS & ENTERTAINMENT Januaryy 27,, 2011 PRELIMINARY REPORT – SUBJECT TO REVISION Preliminary Draft – Subject to Revision Page 0 Confidential Preliminary Draft – Subject to Revision Page 1 Table of Contents Appendix A – Demographics (Geographic Rings) Appendix B – Demographics (Drive Time) Appendix C – Large Arena Events Appendix D – NCAA/ACC Tournament Sites Appendix E – Site Analysis Appendix F – Arena Development Case Studies Appendix pp G – SportsQuest p Development p Limiting Conditions and Assumptions Preliminary Draft – Subject to Revision Page 2 Confidential APPENDIX A DEMOGRAPHICS (GEOGRAPHIC RINGS) Preliminary Draft – Subject to Revision Page 3 MEDIAN MARKET COMPARISON – GEOGRAPHIC RINGS 10 MILE RING DESIGNATION Preliminary Draft – Subject to Revision Page 4 Appendix A – Demographics (Geographic Rings) Median Market Comparison 10 Mile Ring Designation Population Richmond is Comparable to the Median Market Average in Terms of 2010 and 2015 Population Richmond is Comparable to the Median Market Average in Terms off Estimated E ti t d % Growth G th Market Milwaukee-Waukesha-West Allis, WI Indianapolis-Carmel, IN New Orleans-Metairie-Kenner, LA Austin-Round Rock, TX Tucson, AZ Providence-New Bedford-Fall River,, RI-MA Louisville/Jefferson County, KY-IN Fresno, CA Charlotte-Gastonia-Concord, NC-SC Virginia Beach-Norfolk-Newport News, VA-NC Salt Lake City, UT Raleigh-Cary, NC Buffalo-Niagara Falls, NY Rochester NY Rochester, Jacksonville, FL Oklahoma City, OK Hartford-West Hartford-East Hartford, CT Richmond, VA Nashville-Davidson-Murfreesboro-Franklin, TN Memphis, TN-MS-AR Birmingham-Hoover, AL Average (1) 2010 Population (000s) 891.3 770.4 746.3 718.9 701.0 676.6 666.9 666.9 666.5 654.4 628.1 626.3 611.9 611 8 611.8 588.5 579.8 569.1 557.4 505.9 503.9 322.4 635.3 k Rank 21 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 2015 Population (000s) 881.3 772.8 787.3 772.0 750.9 668.5 667.7 718.7 740.5 654.9 659.9 721.7 585.5 604 5 604.5 618.4 594.6 569.3 572.4 522.8 490.4 315.9 654.9 k Rank 21 1 3 2 4 5 9 10 8 6 12 11 7 16 14 13 15 18 17 19 20 21 Est. % Growth 2010-2015 -1.13% 0.32% 5.50% 7.39% 7.11% -1.20% 0.13% 7.77% 11.11% 0.07% 5.06% 15.24% -4.32% -1.19% 1 19% 5.08% 2.56% 0.03% 2.68% 3.35% -2.69% -2.02% k Rank 21 16 12 6 4 5 18 13 3 2 14 8 1 21 17 7 11 15 10 9 20 19 2.91% Source: Claritas 2010. (1) - Excludes Richmond, VA. Preliminary Draft – Subject to Revision Page 5 Appendix A – Demographics (Geographic Rings) Median Market Comparison 10 Mile Ring Designation Households Richmond is Comparable to the Median Market Average in Terms of 2010 and 2015 Population Richmond is Comparable to the M di Median M k t Average Market A i in Terms of Estimated % Growth Market Milwaukee-Waukesha-West Allis, WI Indianapolis-Carmel, IN New Orleans-Metairie-Kenner, LA Austin-Round Rock, TX Louisville/Jefferson County, KY-IN Tucson, AZ Ch l tt G t i C Charlotte-Gastonia-Concord, d NC-SC NC SC Providence-New Bedford-Fall River, RI-MA Buffalo-Niagara Falls, NY Raleigh-Cary, NC Virginia Beach-Norfolk-Newport News, VA-NC Rochester, NY Oklahoma City, OK Jacksonville, FL Richmond VA Richmond, Salt Lake City, UT Hartford-West Hartford-East Hartford, CT Fresno, CA Nashville-Davidson-Murfreesboro-Franklin, TN Memphis, TN-MS-AR Birmingham-Hoover, AL Average (1) 2010 Households (000s) 360.3 315.6 296.1 289.2 285.8 282.5 272 0 272.0 263.1 260.8 247.3 243.8 243.1 237.7 237.0 229 6 229.6 225.4 225.3 217.7 210.2 194.9 131.1 251 9 251.9 Rank R k 21 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 2015 Households (000s) 356.5 317.4 313.2 311.0 288.6 303.1 304 1 304.1 259.8 251.2 285.1 244.6 239.9 244.3 250.6 235 5 235.5 238.3 225.3 233.3 217.3 190.6 129.2 260 2 260.2 Rank R k 21 1 2 3 4 7 6 5 9 10 8 12 14 13 11 16 15 18 17 19 20 21 Est. % Growth G 2010-2015 -1.06% 0.58% 5.79% 7.54% 0.97% 7.29% 11 81% 11.81% -1.24% -3.66% 15.32% 0.32% -1.29% 2.75% 5.72% 2 58% 2.58% 5.76% 0.00% 7.15% 3.35% -2.20% -1.46% Rank R k 21 16 13 6 3 12 4 2 17 21 1 14 18 10 8 11 7 15 5 9 20 19 3 17% 3.17% Source: Claritas 2010. (1) - Excludes Richmond, VA. Preliminary Draft – Subject to Revision Page 6 Appendix A – Demographics (Geographic Rings) Median Market Comparison 10 Mile Ring Designation Income Richmond Income Indicators are Comparable to the Median Market Averages Market Raleigh-Cary, NC Hartford-West Hartford-East Hartford, CT Charlotte-Gastonia-Concord, NC-SC Salt Lake City, UT Austin-Round Rock, TX Richmond VA Richmond, Providence-New Bedford-Fall River, RI-MA Fresno, CA Rochester, NY Nashville-Davidson-Murfreesboro-Franklin, TN Virginia Beach-Norfolk-Newport News, VA-NC New Orleans-Metairie-Kenner, LA Jacksonville, FL Milwaukee Waukesha West Allis, Milwaukee-Waukesha-West Allis WI Birmingham-Hoover, AL Indianapolis-Carmel, IN Tucson, AZ Louisville/Jefferson County, KY-IN Buffalo-Niagara Falls, NY Oklahoma City, OK Memphis, TN-MS-AR Average (1) Average g Household Rank Income 21 $82,715 1 $77,704 2 $69,374 3 $67,668 4 $67,594 5 6 $66 676 $66,676 $66,302 7 $64,989 8 $64,744 9 $63,447 10 $62,589 11 $62,319 12 $58,564 13 $58 120 $58,120 14 $57,735 15 $56,991 16 $56,568 17 $54,794 18 $53,238 19 $53,056 20 $46,042 21 $62,228 Median Household Rank Income 21 $63,335 1 $57,852 2 $49,855 6 $51,668 3 $47,491 9 4 $51 140 $51,140 $50,382 5 $47,116 10 $48,945 8 $44,838 12 $49,590 7 $44,463 14 $45,047 11 $44 591 $44,591 13 $41,389 17 $44,353 15 $41,081 18 $42,014 16 $40,908 19 $40,733 20 $32,567 21 $46,411 Per Capita Rank Income 21 $32,921 1 $31,159 2 $28,591 3 $24,504 10 $27,552 5 4 $27 870 $27,870 $26,114 8 $21,403 20 $26,170 7 $26,749 6 $24,197 11 $25,008 9 $23,811 13 $23 776 $23,776 14 $23,863 12 $23,653 16 $23,071 17 $23,767 15 $22,980 18 $21,970 19 $18,064 21 $24,966 HHs w/ Income $100,000+ Rank (000s) 21 67.4 1 55.1 2 46.4 7 38.8 11 50.8 3 9 39 8 39.8 48.1 4 37.9 12 43.1 8 31.9 16 36.9 13 46.8 6 30.5 17 47 7 47.7 5 19.1 20 39.5 10 35.3 14 33.4 15 30.5 18 25.0 19 16.4 21 39.0 Source: Claritas 2010. (1) - Excludes Richmond, VA. Preliminary Draft – Subject to Revision Page 7 Appendix A – Demographics (Geographic Rings) Median Market Comparison 10 Mile Ring Designation Age Richmond Average Age and Median Age are Comparable to the Median Market Averages Market Fresno,, CA Salt Lake City, UT Austin-Round Rock, TX Virginia Beach-Norfolk-Newport News, VA-NC Memphis, TN-MS-AR Oklahoma City, OK g y, NC Raleigh-Cary, Charlotte-Gastonia-Concord, NC-SC Tucson, AZ Indianapolis-Carmel, IN Milwaukee-Waukesha-West Allis, WI Jacksonville, FL Nashville-Davidson-Murfreesboro-Franklin,, TN Richmond, VA Birmingham-Hoover, AL Providence-New Bedford-Fall River, RI-MA Rochester, NY Louisville/Jefferson County, KY-IN Hartford-West Hartford West Hartford-East Hartford East Hartford, CT New Orleans-Metairie-Kenner, LA Buffalo-Niagara Falls, NY Average (1) Average Age 31.3 32.9 33.6 34.2 34.4 34.9 35.0 35.4 35.8 36.0 36.3 36.7 37.1 37.3 37.6 37.9 38.4 38.7 38.8 39.4 39.5 36.2 Rank 21 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 Median Age 33.9 35.1 35.0 36.1 35.8 36.5 35.5 35.6 37.7 36.3 36.9 37.1 37.4 38.1 38.3 38.7 39.1 38.9 39.2 39.2 40.1 Rank 21 1 3 2 7 6 9 4 5 13 8 10 11 12 14 15 16 18 17 19 19 21 37.1 Source: Claritas 2010. (1) - Excludes E l d Richmond, Ri h d VA. VA Preliminary Draft – Subject to Revision Page 8 Appendix A – Demographics (Geographic Rings) Median Market Comparison 10 Mile Ring Designation Unemployment Richmond Unemployment is Comparable to the Median Market Average Market Salt Lake City, UT Oklahoma City, OK Raleigh-Cary, NC Austin-Round Rock, TX Nashville-Davidson-Murfreesboro-Franklin, TN Virginia Beach-Norfolk-Newport News, News VA-NC Buffalo-Niagara Falls, NY Rochester, NY Richmond, VA Tucson, AZ New Orleans-Metairie-Kenner, LA Milwaukee Waukesha West Allis, Milwaukee-Waukesha-West Allis WI Fresno, CA Jacksonville, FL Providence-New Bedford-Fall River, RI-MA Louisville/Jefferson County, KY-IN Charlotte-Gastonia-Concord, NC-SC Hartford West Hartford-East Hartford-West Hartford East Hartford, Hartford CT Indianapolis-Carmel, IN Birmingham-Hoover, AL Memphis, TN-MS-AR Average (1) Unemployment Rate 3.18% 3.70% 3.87% 4.14% 4.17% 4 22% 4.22% 4.24% 4.28% 4.57% 4.58% 4.98% 5 00% 5.00% 5.04% 5.05% 5.06% 5.15% 5.37% 5 41% 5.41% 5.70% 5.71% 8.88% Rank 21 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 4.89% Source: Claritas 2010. (1) - Excludes Richmond, VA. Preliminary Draft – Subject to Revision Page 9 MEDIAN MARKET COMPARISON – GEOGRAPHIC RINGS 20 MILE RING DESIGNATION Preliminary Draft – Subject to Revision Page 10 Appendix A – Demographics (Geographic Rings) Median Market Comparison 20 Mile Ring Designation Population Richmond is Comparable to the Median Market Average in Terms of 2010 and 2015 Population Richmond is Comparable to th Median the M di Market M k t Average A in Terms of Estimated % Growth Market Indianapolis-Carmel, IN Charlotte-Gastonia-Concord, NC-SC Virginia Beach-Norfolk-Newport News, VA-NC Milwaukee-Waukesha-West Allis, WI Providence-New Bedford-Fall River, RI-MA A i R Austin-Round dR Rock, k TX Raleigh-Cary, NC Salt Lake City, UT Hartford-West Hartford-East Hartford, CT Jacksonville, FL Memphis, TN-MS-AR Oklahoma City, OK Louisville/Jefferson County County, KY KY-IN IN Nashville-Davidson-Murfreesboro-Franklin, TN Buffalo-Niagara Falls, NY Tucson, AZ Richmond, VA New Orleans-Metairie-Kenner, LA Fresno, CA Rochester NY Rochester, Birmingham-Hoover, AL Average (1) 2010 Population (000s) 1,433.7 1,383.2 1,360.8 1,328.7 1,326.1 1 325 3 1,325.3 1,232.7 1,199.8 1,176.9 1,106.7 1,034.5 1,030.0 1 009 3 1,009.3 998.8 992.2 947.7 941.8 891.9 826.1 807 1 807.1 708.9 1,106.0 Rank 21 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 2015 Population (000s) 1,509.5 1,558.0 1,377.2 1,328.4 1,319.4 1 482 6 1,482.6 1,407.9 1,291.6 1,186.2 1,196.8 1,049.9 1,080.6 1 035 3 1,035.3 1,070.5 963.0 1,028.3 986.5 939.4 894.3 801 6 801.6 718.7 1,162.0 Rank 21 2 1 5 6 7 3 4 8 10 9 13 11 14 12 17 15 16 18 19 20 21 Est. % Growth 2010-2015 5.29% 12.64% 1.20% -0.02% -0.51% 11 87% 11.87% 14.21% 7.65% 0.79% 8.14% 1.49% 4.91% 2 57% 2.57% 7.18% -2.95% 8.50% 4.74% 5.32% 8.26% -0.69% 0 69% 1.38% Rank 21 10 2 16 18 19 3 1 7 17 6 14 11 13 8 21 4 12 9 5 20 15 4.86% Source: Claritas 2010. (1) - Excludes Richmond, VA. Preliminary Draft – Subject to Revision Page 11 Appendix A – Demographics (Geographic Rings) Median Market Comparison 20 Mile Ring Designation Households Richmond is Comparable to the Median Market Average in Terms of 2010 and 2015 Households Richmond is Comparable to th Median the M di M k t Average Market A in Terms of Estimated % Growth Market Indianapolis-Carmel, IN Charlotte-Gastonia-Concord, NC-SC Milwaukee-Waukesha-West Allis, WI Providence-New Bedford-Fall River, RI-MA Virginia Beach-Norfolk-Newport News, VA-NC Austin-Round Rock,, TX Raleigh-Cary, NC Hartford-West Hartford-East Hartford, CT Jacksonville, FL Louisville/Jefferson County, KY-IN Oklahoma City, OK Buffalo-Niagara Falls, NY Nashville-Davidson-Murfreesboro-Franklin, TN Memphis, TN-MS-AR Salt Lake City, UT Richmond, VA Tucson, AZ New Orleans-Metairie-Kenner, LA Rochester, NY Birmingham-Hoover, AL Fresno, CA Average (1) 2010 Households (000s) 564.1 541.2 532.3 514.7 507.2 499.2 474.9 462.4 432.2 416.5 410.4 409.6 399.0 394.8 390.8 372.8 370.3 346.8 314.8 287.4 261.4 426.5 Rank 21 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 2015 Households (000s) 593.7 611.2 534.5 512.6 515.7 554.8 541.6 466.9 469.2 430.0 431.5 400.2 428.0 402.6 422.0 390.6 401.7 366.3 312.9 292.9 280.8 448.5 Rank 21 2 1 5 7 6 3 4 9 8 11 10 16 12 14 13 17 15 18 19 20 21 Est. % Growth 2010-2015 5.24% 12.94% 0.42% -0.41% 1.66% 11.14% 14.04% 0.98% 8.56% 3.25% 5.15% -2.28% 7.28% 1.98% 7.98% 4.79% 8.50% 5.63% -0.62% 1.92% 7.44% Rank 21 10 2 18 19 16 3 1 17 4 13 11 21 8 14 6 12 5 9 20 15 7 5.04% Source: Claritas 2010. (1) - Excludes Richmond, VA. Preliminary Draft – Subject to Revision Page 12 Appendix A – Demographics (Geographic Rings) Median Market Comparison 20 Mile Ring Designation Income Richmond Household and Per Capita Income Indicators are Above Median Market Averages Richmond Ri h d Households H h ld with ith Income I off $100,000+ $100 000+ is i Comparable C bl to t the th Median M di Market M k t Average A Market Hartford-West Hartford-East Hartford, CT Raleigh-Cary, NC Richmond, VA Austin-Round Rock, TX Salt Lake City, UT Charlotte-Gastonia-Concord, NC-SC Nashville-Davidson-Murfreesboro-Franklin, TN Providence-New Bedford-Fall River, RI-MA Indianapolis-Carmel, IN Jacksonville, FL Virginia Beach-Norfolk-Newport News, VA-NC Birmingham-Hoover, Birmingham Hoover, AL Rochester, NY Milwaukee-Waukesha-West Allis, WI Fresno, CA Louisville/Jefferson County, KY-IN Oklahoma City, OK New Orleans-Metairie-Kenner, LA Tucson, AZ Memphis, TN-MS-AR Buffalo-Niagara Falls, NY Average (1) Average Household Rank Income 21 $83,712 1 $78,877 2 3 $78,736 $78,320 4 $77,754 5 $77,145 6 $73,772 7 $72,947 8 $72,286 9 $71,595 10 $71,163 11 $70,530 12 $68,834 13 $67,538 14 $64,469 15 $64,271 16 $63,195 17 $63,186 18 $62,507 19 $62,215 20 $ $61,172 21 $70,274 Median Household Rank Income 21 $65,701 1 $61,174 4 3 $61,336 $59,643 5 $61,587 2 $58,468 6 $54,404 11 $57,130 7 $55,109 9 $54,931 10 $57,083 8 $49,648 14 $53,584 12 $52,061 13 $47,166 17 $48,262 15 $47,845 16 $45,524 21 $46,141 19 $46,135 20 $ $46,728 18 $53,416 Per Capita Rank Income 21 $33,239 1 $30,632 3 2 $31,495 $29,732 5 $25,518 16 $30,371 4 $29,713 6 $28,621 9 $28,713 8 $28,166 10 $27,282 12 $28,862 7 $27,258 13 $27,324 11 $20,586 21 $26,741 14 $25,395 17 $24,830 18 $24,683 19 $23,972 20 $ $25,535 15 $27,359 HHs w/ Income $100,000+ Rank (000s) 21 130.3 1 119.1 4 10 90.6 119.2 3 90.8 9 121.5 2 83.4 12 115.1 6 117.0 5 86.3 11 100.5 7 57 5 57.5 19 62.7 16 97.6 8 44.5 21 68.9 13 65.3 15 56.6 20 57.7 18 60.9 17 65.8 14 86.0 Source: Claritas 2010. (1) - Excludes Richmond, VA. Preliminary Draft – Subject to Revision Page 13 Appendix A – Demographics (Geographic Rings) Median Market Comparison 20 Mile Ring Designation Age Richmond Average Age and Median Age are Comparable to the Median Market Averages Market Fresno, CA Salt Lake City, UT Austin-Round Rock, TX Raleigh-Cary, NC Oklahoma City, OK Virginia Beach-Norfolk-Newport News, VA-NC M Memphis, hi TN TN-MS-AR MS AR Indianapolis-Carmel, IN Charlotte-Gastonia-Concord, NC-SC Tucson, AZ Jacksonville, FL Nashville-Davidson-Murfreesboro-Franklin, TN Richmond, VA Milwaukee-Waukesha-West Allis, WI Birmingham-Hoover, AL Rochester, NY Providence-New Bedford-Fall River, RI-MA Louisville/Jefferson County, KY-IN New Orleans-Metairie-Kenner, LA Hartford-West Hartford-East Hartford, CT Buffalo-Niagara Falls, NY Average (1) Average Age 31.1 31.6 33.9 34.6 34.9 35.3 35 4 35.4 35.8 36.0 36.6 37.1 37.1 37.4 37.7 37.9 38.4 38.6 38.7 39.0 39.6 40.0 36.5 Rank 21 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 Median Age 33.8 33.6 34.7 35.0 36.4 36.4 36 0 36.0 36.1 35.7 38.0 37.0 37.1 37.7 37.8 38.1 38.9 38.9 38.5 38.8 39.3 40.2 Rank 21 2 1 3 4 8 8 6 7 5 14 10 11 12 13 15 18 18 16 17 20 21 37.0 Source: Claritas 2010. (1) - Excludes Richmond, VA. Preliminary Draft – Subject to Revision Page 14 Appendix A – Demographics (Geographic Rings) Median Market Comparison 20 Mile Ring Designation Unemployment Richmond Unemployment is Comparable to the Median Market Average Market Salt Lake City, UT Oklahoma City, OK Virginia Beach-Norfolk-Newport News, VA-NC Nashville-Davidson-Murfreesboro-Franklin, TN Raleigh-Cary, NC Austin Round Rock, Austin-Round Rock TX Richmond, VA Rochester, NY Hartford-West Hartford-East Hartford, CT Buffalo-Niagara Falls, NY Tucson, AZ Mil Milwaukee-Waukesha-West k W k h W t Alli Allis, WI Birmingham-Hoover, AL Indianapolis-Carmel, IN Louisville/Jefferson County, KY-IN Jacksonville, FL Providence-New Bedford-Fall River, RI-MA Charlotte Gastonia Concord NC Charlotte-Gastonia-Concord, NC-SC SC New Orleans-Metairie-Kenner, LA Fresno, CA Memphis, TN-MS-AR Average (1) Unemployment Rate 2.74% 3.17% 3.47% 3.60% 3.71% 3 77% 3.77% 3.83% 3.99% 4.14% 4.15% 4.18% 4 20% 4.20% 4.27% 4.43% 4.46% 4.48% 4.59% 4 63% 4.63% 4.83% 5.52% 6.09% Rank 21 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 4.22% Source: Claritas 2010. (1) - Excludes Richmond, VA. Preliminary Draft – Subject to Revision Page 15 MEDIAN MARKET COMPARISON – GEOGRAPHIC RINGS 30 MILE RING DESIGNATION Preliminary Draft – Subject to Revision Page 16 Appendix A – Demographics (Geographic Rings) Median Market Comparison 30 Mile Ring Designation Population Richmond is Below the Median Market Average in Terms of 2010 and 2015 Population Richmond is Comparable to th Median the M di M k t Average Market A in Terms of Estimated % Growth Market Providence-New Bedford-Fall River, RI-MA Hartford-West Hartford-East Hartford, CT Charlotte-Gastonia-Concord, NC-SC Salt Lake City, UT Milwaukee-Waukesha-West Allis, WI Indianapolis-Carmel, p , IN Austin-Round Rock, TX Raleigh-Cary, NC Virginia Beach-Norfolk-Newport News, VA-NC Nashville-Davidson-Murfreesboro-Franklin, TN Jacksonville, FL Louisville/Jefferson County, KY-IN Memphis, TN-MS-AR Oklahoma kl h City, i OK Buffalo-Niagara Falls, NY Richmond, VA Tucson, AZ New Orleans-Metairie-Kenner, LA Fresno, CA Rochester, NY Birmingham Hoover AL Birmingham-Hoover, Average (1) 2010 Population (000s) 2,240.1 2,105.3 1,934.8 1,713.4 1,700.8 1,694.1 , 1,618.4 1,583.9 1,521.5 1,330.0 1,254.3 1,199.3 1,189.7 1,153.5 1,132.7 1,114.3 1,030.3 1,027.9 1,025.4 953.1 921 7 921.7 1,416.5 Rank 21 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 2015 Population (000s) 2,238.1 2,119.7 2,171.8 1,874.8 1,711.7 1,789.7 , 1,824.3 1,794.4 1,544.4 1,439.3 1,362.5 1,236.0 1,218.4 1,211.7 1,100.1 1,166.6 1,123.2 1,083.1 1,113.3 945.9 943 5 943.5 1,492.3 Rank 21 1 3 2 4 8 7 5 6 9 10 11 12 13 14 18 15 16 19 17 20 21 Est. % Growth 2010-2015 -0.09% 0.68% 12.25% 9.42% 0.64% 5.64% 12.73% 13.29% 1.50% 8.22% 8.63% 3.06% 2.42% 5.04% -2.87% 4.70% 9.02% 5.37% 8.58% -0.76% 2 36% 2.36% Rank 21 19 17 3 4 18 9 2 1 16 8 6 13 14 11 21 12 5 10 7 20 15 5.26% Source: Claritas 2010. (1) - Excludes Richmond, VA. Preliminary Draft – Subject to Revision Page 17 Appendix A – Demographics (Geographic Rings) Median Market Comparison 30 Mile Ring Designation Households Richmond is Comparable to the Median Market Average in Terms of 2010 and 2015 Households Richmond is Comparable to th Median the M di M k t Average Market A in Terms of Estimated % Growth Market Providence-New Bedford-Fall River, RI-MA Hartford-West Hartford-East Hartford, CT Charlotte-Gastonia-Concord, NC-SC Milwaukee-Waukesha-West Allis, WI Indianapolis-Carmel, IN Raleigh-Cary, g y NC Austin-Round Rock, TX Virginia Beach-Norfolk-Newport News, VA-NC Salt Lake City, UT Nashville-Davidson-Murfreesboro-Franklin, TN Jacksonville, FL Louisville/Jefferson County, KY-IN Buffalo-Niagara Falls, NY Oklahoma City City, OK Memphis, TN-MS-AR Richmond, VA Tucson, AZ New Orleans-Metairie-Kenner, LA Rochester, NY Birmingham-Hoover, AL Fresno,, CA Average (1) 2010 Households (000s) 854.5 814.9 748.4 675.9 661.8 607.9 598.9 567.4 543.0 522.0 488.7 484.9 463.3 456 3 456.3 450.3 435.8 406.8 396.5 369.7 369.2 318.1 539.9 Rank 21 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 2015 Households (000s) 854.6 821.1 842.2 684.4 699.3 687.5 671.2 579.0 594.6 565.8 533.4 503.1 453.3 480 7 480.7 463.2 456.9 444.2 419.1 367.7 380.0 342.8 569.4 Rank 21 1 3 2 6 4 5 7 9 8 10 11 12 16 13 14 15 17 18 20 19 21 Est. % Growth 2010-2015 0.01% 0.77% 12.53% 1.25% 5.67% 13.10% 12.07% 2.05% 9.51% 8.40% 9.14% 3.76% -2.17% 5 35% 5.35% 2.88% 4.84% 9.18% 5.72% -0.55% 2.94% 7.75% % Rank 21 19 18 2 17 10 1 3 16 4 7 6 13 21 11 15 12 5 9 20 14 8 5.47% Source: Claritas 2010. (1) - Excludes Richmond, VA. Preliminary Draft – Subject to Revision Page 18 Appendix A – Demographics (Geographic Rings) Median Market Comparison 30 Mile Ring Designation Income Richmond Household and Per Capita Income Indicators are Above Median Market Averages Richmond Ri h d Households H h ld with ith Income I off $100,000+ $100 000+ is i Comparable C bl to t the th Median M di Market M k t Average A Market Hartford-West Hartford-East Hartford, CT Providence-New Bedford-Fall River, RI-MA Salt Lake City, UT Ri h Richmond, d VA Austin-Round Rock, TX Raleigh-Cary, NC Charlotte-Gastonia-Concord, NC-SC Nashville-Davidson-Murfreesboro-Franklin, TN Indianapolis-Carmel, IN Jacksonville, FL Virginia Beach-Norfolk-Newport News, VA-NC Milwaukee-Waukesha-West Allis, Allis WI Birmingham-Hoover, AL Rochester, NY Louisville/Jefferson County, KY-IN Memphis, TN-MS-AR New Orleans-Metairie-Kenner, LA Tucson, AZ Fresno, CA Oklahoma City, OK Buffalo-Niagara Falls, NY Average (1) Average Household Rank Income 21 $79,084 1 $78,948 2 $78,206 3 4 $77 518 $77,518 $77,222 5 $76,476 6 $72,702 7 $72,629 8 $71,991 9 $71,621 10 $71,096 11 $69 699 $69,699 12 $69,666 13 $68,203 14 $64,324 15 $64,301 16 $63,954 17 $63,747 18 $63,561 19 $62,810 20 $61,429 21 $70,084 Median Household Rank Income 21 $62,141 2 $61,562 3 $62,775 1 4 $60 771 $60,771 $59,333 5 $59,096 6 $55,566 8 $55,078 11 $55,548 9 $55,227 10 $57,250 7 $54 644 $54,644 12 $50,575 14 $53,650 13 $48,834 15 $47,807 17 $46,558 21 $47,018 19 $46,755 20 $47,866 16 $47,343 18 $53,731 Per Capita Rank Income 21 $30,978 1 $30,458 3 $24,953 18 2 $30 710 $30,710 $28,830 5 $29,618 4 $28,307 8 $28,731 6 $28,408 7 $28,110 10 $27,240 12 $27 972 $27,972 11 $28,136 9 $26,873 13 $26,271 14 $24,541 20 $24,905 19 $25,420 16 $19,908 21 $25,077 17 $25,447 15 $27,009 HHs w/ Income $100,000+ Rank (000s) 21 210.4 2 218.3 1 126.5 8 11 103 3 103.3 140.2 5 143.0 4 150.9 3 105.6 10 135.7 6 97.1 12 112.4 9 131 5 131.5 7 72.3 16 71.5 17 80.3 13 74.8 14 66.7 19 65.7 20 52.3 21 71.5 18 74.4 15 110.1 Source: Claritas 2010. (1) - Excludes Richmond, VA. Preliminary Draft – Subject to Revision Page 19 Appendix A – Demographics (Geographic Rings) Median Market Comparison 30 Mile Ring Designation Age Richmond Average Age and Median Age are Comparable to the Median Market Averages Market Salt Lake City, UT Fresno, CA Austin-Round Rock, TX Oklahoma City, OK Raleigh-Cary, NC Virginia Beach-Norfolk-Newport News, VA-NC Memphis, TN-MS-AR Indianapolis-Carmel, IN Charlotte-Gastonia-Concord, NC-SC Nashville-Davidson-Murfreesboro-Franklin, TN Jacksonville, FL Richmond, VA T Tucson, AZ Birmingham-Hoover, AL Milwaukee-Waukesha-West Allis, WI Louisville/Jefferson County, KY-IN Rochester, NY New Orleans-Metairie-Kenner, LA Providence-New Bedford-Fall River,, RI-MA Hartford-West Hartford-East Hartford, CT Buffalo-Niagara Falls, NY Average (1) Average Age 30.6 30.9 33.7 34.9 35.1 35.4 35.5 35.9 36.1 36.9 37.2 37.2 37 7 37.7 37.7 37.9 38.3 38.6 38.6 38.7 39.0 40.0 36.4 Rank 21 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 Median Age 32.8 33.7 34.8 36.5 35.4 36.4 36.1 36.3 36.1 36.9 37.2 37.6 38 9 38.9 37.9 37.9 38.3 39.0 38.5 38.9 39.1 40.2 Rank 21 1 2 3 9 4 8 5 7 5 10 11 12 17 13 13 15 19 16 17 20 21 37.0 Source: Claritas 2010. ((1)) - Excludes Richmond,, VA. Preliminary Draft – Subject to Revision Page 20 Appendix A – Demographics (Geographic Rings) Median Market Comparison 30 Mile Ring Designation Unemployment Richmond Unemployment is Comparable to the Median Market Average Market Salt Lake City, City UT Oklahoma City, OK Virginia Beach-Norfolk-Newport News, VA-NC Nashville-Davidson-Murfreesboro-Franklin, TN Raleigh-Cary, NC Austin-Round Rock, TX Rochester NY Rochester, Richmond, VA Tucson, AZ Birmingham-Hoover, AL Buffalo-Niagara Falls, NY Milwaukee-Waukesha-West Allis, WI I di Indianapolis-Carmel, li C l IN Louisville/Jefferson County, KY-IN Jacksonville, FL Hartford-West Hartford-East Hartford, CT Providence-New Bedford-Fall River, RI-MA New Orleans-Metairie-Kenner, LA Charlotte Gastonia Concord NC Charlotte-Gastonia-Concord, NC-SC SC Memphis, TN-MS-AR Fresno, CA Average (1) Unemployment Rate 2 65% 2.65% 3.13% 3.41% 3.57% 3.78% 3.94% 3 96% 3.96% 3.99% 4.02% 4.04% 4.05% 4.06% 4 33% 4.33% 4.36% 4.44% 4.49% 4.51% 4.62% 4 77% 4.77% 5.86% 5.96% Rank 21 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 4.20% Source: Claritas 2010. (1) - Excludes Richmond, VA. Preliminary Draft – Subject to Revision Page 21 Confidential APPENDIX B DEMOGRAPHICS (DRIVE TIME) Preliminary Draft – Subject to Revision Page 22 MEDIAN MARKET COMPARISON – DRIVE TIME 20 MINUTE DESIGNATION Preliminary Draft – Subject to Revision Page 23 Appendix B - Demographics (Drive Time) Median Market Comparison 20 Minute Designation Population Richmond is Comparable to the Median Market Average in Terms of 2010 and 2015 Population Richmond is Comparable to th Median the M di Market M k t Average A in Terms of Estimated % Growth Market Milwaukee-Waukesha-West Allis, WI Austin-Round Rock, TX Providence-New Bedford-Fall River, RI-MA Salt Lake City, UT Oklahoma City, OK Indianapolis-Carmel, IN N O New Orleans-Metairie-Kenner, l M t ii K LA Louisville/Jefferson County, KY-IN Raleigh-Cary, NC Charlotte-Gastonia-Concord, NC-SC Hartford-West Hartford-East Hartford, CT Richmond, VA Virginia Beach-Norfolk-Newport News, VA-NC Jacksonville FL Jacksonville, Nashville-Davidson-Murfreesboro-Franklin, TN Buffalo-Niagara Falls, NY Fresno, CA Rochester, NY Tucson, AZ Memphis, TN-MS-AR Birmingham-Hoover, Birmingham Hoover, AL Average (1) 2010 Population (000s) 1,039.3 976.9 949.4 859.8 844.1 840.3 808 6 808.6 793.6 778.9 775.5 766.7 750.2 742.6 739 8 739.8 728.8 700.1 669.0 663.4 655.6 647.0 396 4 396.4 768.8 Rank 21 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 2015 Population (000s) 1,033.2 1,069.2 938.9 911.7 879.8 850.1 850 0 850.0 802.7 892.2 865.6 769.8 779.7 745.9 786 0 786.0 769.3 672.3 720.5 656.8 703.9 637.4 385 9 385.9 797.1 Rank 21 2 1 3 4 6 8 9 10 5 7 13 12 15 11 14 18 16 19 17 20 21 Est. % Growth 2010-2015 -0.59% 9.44% -1.10% 6.04% 4.23% 1.17% 5 11% 5.11% 1.15% 14.54% 11.62% 0.40% 3.93% 0.45% 6 25% 6.25% 5.57% -3.96% 7.70% -1.01% 7.37% -1.48% -2 2.64% 64% Rank 21 16 3 18 7 10 12 9 13 1 2 15 11 14 6 8 21 4 17 5 19 20 3.51% Source: Claritas 2010. (1) - Excludes Richmond, VA. Preliminary Draft – Subject to Revision Page 24 Appendix B - Demographics (Drive Time) Median Market Comparison 20 Minute Designation Households Richmond is Comparable to the Median Market Average in Terms of 2010 and 2015 Households Richmond is Comparable to th Median the M di Market M k t Average A in Terms of Estimated % Growth Market Milwaukee-Waukesha-West Allis, WI Austin-Round Rock, TX Providence-New Bedford-Fall River, RI-MA Indianapolis-Carmel, IN Oklahoma City, OK Louisville/Jefferson County, KY-IN New Orleans-Metairie-Kenner, Orleans Metairie Kenner, LA Charlotte-Gastonia-Concord, NC-SC Hartford-West Hartford-East Hartford, CT Raleigh-Cary, NC Richmond, VA Nashville-Davidson-Murfreesboro-Franklin, TN Salt Lake City, UT Jacksonville,, FL Buffalo-Niagara Falls, NY Virginia Beach-Norfolk-Newport News, VA-NC Rochester, NY Tucson, AZ Memphis, TN-MS-AR Fresno, CA Birmingham-Hoover, AL Average (1) 2010 Households (000s) 418.6 383.0 374.3 343.5 340.5 335.9 318.3 314.4 307.2 306.8 301.2 299.2 297.7 295.9 295.3 276.3 262.3 262.0 250.7 217.9 163.6 303.2 Rank 21 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 2015 Households (000s) 417.0 418.4 370.5 348.4 355.7 342.5 335.5 352.8 308.8 351.5 312.8 316.0 317.8 316.2 285.5 278.4 259.6 281.4 248.4 233.3 160.3 314.9 Rank 21 2 1 3 7 4 8 9 5 14 6 13 12 10 11 15 17 18 16 19 20 21 Est. % Growth 2010-2015 -0.38% 9.24% -1.01% 1.43% 4.45% 1.94% 5.40% 12.20% 0.52% 14.58% 3.88% 5.59% 6.73% 6.86% % -3.31% 0.76% -1.05% 7.43% -0.92% 7.04% -2.02% Rank 21 16 3 18 13 10 12 9 2 15 1 11 8 7 6 21 14 19 4 17 5 20 3.77% Source: Claritas 2010. (1) - Excludes Richmond, VA. Preliminary Draft – Subject to Revision Page 25 Appendix B - Demographics (Drive Time) Median Market Comparison 20 Minute Designation Income Richmond Income Indicators are Above Median Market Averages Market Hartford-West Hartford-East Hartford, CT Raleigh-Cary, NC Richmond, VA Salt Lake City, UT Charlotte-Gastonia-Concord, NC-SC Austin-Round Rock, TX Nashville-Davidson-Murfreesboro-Franklin, TN Rochester, NY Providence-New Bedford-Fall River, RI-MA Virginia Beach-Norfolk-Newport News, VA-NC Fresno, CA Milwaukee-Waukesha-West Allis, WI Jacksonville, FL New Orleans-Metairie-Kenner, Orleans Metairie Kenner LA Oklahoma City, OK Louisville/Jefferson County, KY-IN Indianapolis-Carmel, IN Birmingham-Hoover, AL Buffalo-Niagara Falls, NY Tucson, AZ Memphis, p TN-MS-AR Average (1) Average Household Rank Income 21 $79,092 1 $78,966 2 3 $74,177 $70,938 4 $70,827 5 $70,758 6 $70,457 7 $66,990 8 $66,598 9 $65,036 10 $64,513 11 $63,646 12 $62,934 13 $62 771 $62,771 14 $60,961 15 $59,280 16 $57,497 17 $55,963 18 $55,820 19 $55,188 20 $49,146 21 $64,369 Median Household Rank Income 21 $60,712 2 $60,787 1 3 $57,805 $55,211 4 $51,896 7 $53,093 5 $49,828 10 $50,784 8 $50,621 9 $52,492 6 $46,657 13 $47,844 12 $48,407 11 $44 848 $44,848 17 $46,291 14 $45,031 15 $44,947 16 $39,115 20 $42,686 18 $40,429 19 $36,013 21 $48,385 Rank p Per Capita Income 21 $32,055 1 $31,381 2 3 $30,135 $24,797 15 $28,976 5 $28,035 6 $29,232 4 $26,917 7 $26,587 8 $24,941 13 $21,203 20 $25,910 9 $25,360 10 $24 984 $24,984 12 $24,800 14 $25,356 11 $23,802 17 $23,516 18 $23,844 16 $22,344 19 $19,358 21 $25,670 HHs w/ Income Rank $100,000+ $ , (000s) 21 78.2 1 77.5 2 6 65.3 57.5 8 58.1 7 75.4 3 56.5 9 49.6 12 69.5 4 45.6 14 37.4 18 67.5 5 44.8 15 51 2 51.2 10 50.0 11 47.1 13 44.2 16 20.8 21 38.8 17 31.6 19 22.6 20 51.2 Source: Claritas 2010. (1) - Excludes Richmond, VA. Preliminary Draft – Subject to Revision Page 26 Appendix B - Demographics (Drive Time) Median Market Comparison 20 Minute Designation Age Richmond Average Age and Median Age are Comparable to the Median Market Averages Market Fresno, CA Salt Lake City, UT Austin-Round Rock, TX Virginia Beach-Norfolk-Newport News, VA-NC Memphis, TN-MS-AR Raleigh-Cary, NC Okl h Oklahoma Ci City, OK Tucson, AZ Charlotte-Gastonia-Concord, NC-SC Indianapolis-Carmel, IN Jacksonville, FL Milwaukee-Waukesha-West Allis, WI Richmond, VA N h ill D id Nashville-Davidson-Murfreesboro-Franklin, M f b F kli TN Birmingham-Hoover, AL Providence-New Bedford-Fall River, RI-MA Rochester, NY Louisville/Jefferson County, KY-IN New Orleans-Metairie-Kenner, LA Hartford-West Hartford-East Hartford, CT Buffalo Niagara Falls, Buffalo-Niagara Falls NY Average (1) Average Age 31.2 32.5 33.7 34.4 34.5 34.6 35 1 35.1 35.2 35.5 35.8 36.6 37.0 37.1 37 1 37.1 37.9 38.3 38.5 38.8 39.2 39.5 39 7 39.7 36.3 Rank 21 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 Median Age 33.9 34.6 34.8 36.1 35.8 35.1 36 5 36.5 37.3 35.4 36.2 36.8 37.4 37.6 37 2 37.2 38.6 39.0 39.1 38.8 39.0 39.6 40 2 40.2 Rank 21 1 2 3 7 6 4 9 12 5 8 10 13 14 11 15 17 19 16 17 20 21 37.1 Source: Claritas 2010. (1) - Excludes Richmond, VA. Preliminary Draft – Subject to Revision Page 27 Appendix B - Demographics (Drive Time) Median Market Comparison 20 Minute Designation Unemployment Richmond Unemployment is Comparable to the Median Market Average Market Salt Lake City, City UT Oklahoma City, OK Nashville-Davidson-Murfreesboro-Franklin, TN Virginia Beach-Norfolk-Newport News, VA-NC Austin-Round Rock, TX Raleigh-Cary, NC Richmond VA Richmond, Rochester, NY Buffalo-Niagara Falls, NY Milwaukee-Waukesha-West Allis, WI Tucson, AZ Hartford-West Hartford-East Hartford, CT L i ill /J ff Louisville/Jefferson County, C t KY-IN KY IN Jacksonville, FL Providence-New Bedford-Fall River, RI-MA New Orleans-Metairie-Kenner, LA Fresno, CA Charlotte-Gastonia-Concord, NC-SC Indianapolis Carmel IN Indianapolis-Carmel, Birmingham-Hoover, AL Memphis, TN-MS-AR Average (1) Unemployment Rate 2 91% 2.91% 3.26% 3.82% 4.00% 4.00% 4.10% 4 13% 4.13% 4.16% 4.50% 4.56% 4.66% 4.67% 4 77% 4.77% 4.84% 4.85% 4.99% 5.10% 5.16% 5 62% 5.62% 5.78% 7.81% Rank 21 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 4.68% Source: Claritas 2010. (1) - Excludes Richmond, VA. Preliminary Draft – Subject to Revision Page 28 MEDIAN MARKET COMPARISON – DRIVE TIME 30 MINUTE DESIGNATION Preliminary Draft – Subject to Revision Page 29 Appendix B - Demographics (Drive Time) Median Market Comparison 30 Minute Designation Population Richmond is Comparable to the Median Market Average in Terms of 2010 and 2015 Population p Richmond is Comparable to the Median Market Average in Terms of Estimated % Growth Market Hartford-West Hartford-East Hartford, CT Providence-New Bedford-Fall River, RI-MA Charlotte-Gastonia-Concord, NC-SC Indianapolis-Carmel, IN Austin-Round Rock, TX Milwaukee-Waukesha-West Allis, WI Salt Lake City, UT Raleigh-Cary, NC Virginia Beach-Norfolk-Newport News, VA-NC Nashville-Davidson-Murfreesboro-Franklin, TN Oklahoma City, OK Louisville/Jefferson County, KY-IN Memphis, TN-MS-AR Richmond VA Richmond, Jacksonville, FL Buffalo-Niagara Falls, NY Tucson, AZ New Orleans-Metairie-Kenner, LA Fresno, CA Rochester, NY Birmingham-Hoover, AL Average (1) 2010 Population (000s) 1,514.3 1,442.1 1,404.8 1,403.0 1,362.4 1,357.7 1,323.6 1,233.3 1,179.7 1,067.0 1,063.5 1,036.2 1,030.6 1 010 1 1,010.1 976.7 960.5 918.5 917.5 836.3 811.0 705.6 1,127.2 Rank 21 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 2015 Population (000s) 1,523.0 1,435.5 1,575.8 1,470.1 1,529.3 1,358.8 1,431.1 1,400.8 1,187.6 1,146.8 1,116.3 1,065.1 1,046.3 1 054 5 1,054.5 1,043.8 931.4 994.9 965.7 906.7 805.8 711.0 1,182.3 Rank 21 3 5 1 4 2 8 6 7 9 10 11 12 14 13 15 18 16 17 19 20 21 Est. % Growth 2010-2015 0.57% -0.46% 12.18% 4.78% 12.25% 0.08% 8.12% 13.58% 0.67% 7.48% 4.96% 2.79% 1.52% 4 39% 4.39% 6.87% -3.03% 8.32% 5.25% 8.42% -0.65% 0.76% Rank 21 17 19 3 11 2 18 6 1 16 7 10 13 14 12 8 21 5 9 4 20 15 4.72% Source: Claritas 2010. (1) - Excludes Richmond, VA. Preliminary Draft – Subject to Revision Page 30 Appendix B - Demographics (Drive Time) Median Market Comparison 30 Minute Designation Households Richmond is Comparable to the Median Market Average in Terms of 2010 and 2015 Households Richmond is Comparable to th Median the M di M k t Average Market A in Terms of Estimated % Growth Market Hartford-West Hartford-East Hartford, CT Providence-New Bedford-Fall River, RI-MA Indianapolis-Carmel, IN Charlotte-Gastonia-Concord, NC-SC Mil Milwaukee-Waukesha-West k W k h W t Allis, Alli WI Austin-Round Rock, TX Raleigh-Cary, NC Virginia Beach-Norfolk-Newport News, VA-NC Salt Lake City, UT Louisville/Jefferson County, KY-IN Nashville-Davidson-Murfreesboro-Franklin, TN Oklahoma City, OK Richmond VA Richmond, Buffalo-Niagara Falls, NY Memphis, TN-MS-AR Jacksonville, FL Tucson, AZ New Orleans-Metairie-Kenner, LA Rochester, NY Birmingham-Hoover, AL Fresno CA Fresno, Average (1) 2010 Households (000s) 591.2 559.7 555.9 551.7 543 8 543.8 507.3 478.3 444.5 429.5 424.8 423.5 423.4 397 8 397.8 397.5 394.0 387.0 362.9 356.5 316.8 287.4 264 9 264.9 435.0 Rank 21 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 2015 Households (000s) 595.0 557.6 582.8 620.9 546 9 546.9 565.9 542.4 449.5 465.8 439.5 455.7 445.6 415 6 415.6 388.1 402.0 416.2 393.2 376.3 314.9 291.3 285 0 285.0 456.7 Rank 21 2 5 3 1 6 4 7 10 8 12 9 11 14 17 15 13 16 18 19 20 21 Est. % Growth 2010-2015 0.64% -0.38% 4.83% 12.54% 0 56% 0.56% 11.55% 13.42% 1.10% 8.44% 3.46% 7.59% 5.23% 4 46% 4.46% -2.37% 2.02% 7.55% 8.37% 5.57% -0.58% 1.35% 7 58% 7.58% Rank 21 17 19 11 2 18 3 1 16 4 13 6 10 12 21 14 8 5 9 20 15 7 4.92% Source: Claritas 2010. (1) - Excludes Richmond, VA. Preliminary Draft – Subject to Revision Page 31 Appendix B - Demographics (Drive Time) Median Market Comparison 30 Minute Designation Income Richmond Average Household, Median Household and Per Capita Income Indicators are Above Median Market Averages Richmond Households with Income of $100,000+ is Comparable to the Median Market Average Market Hartford-West Hartford-East Hartford, CT Raleigh-Cary, NC Richmond, VA Salt Lake City, UT Austin-Round Rock, TX Charlotte-Gastonia-Concord,, NC-SC Nashville-Davidson-Murfreesboro-Franklin, TN Providence-New Bedford-Fall River, RI-MA Indianapolis-Carmel, IN Virginia Beach-Norfolk-Newport News, VA-NC Birmingham-Hoover, AL Rochester, NY Milwaukee-Waukesha-West Allis, WI Jacksonville FL Jacksonville, Louisville/Jefferson County, KY-IN Fresno, CA New Orleans-Metairie-Kenner, LA Oklahoma City, OK Tucson, AZ Memphis, TN-MS-AR Buffalo-Niagara Falls, NY Average (1) Average Household Rank Income 21 $79,014 1 $78,751 2 3 $77,061 $76,780 4 $76,008 5 $75,503 , 6 $73,698 7 $72,300 8 $70,010 9 $69,325 10 $68,923 11 $68,626 12 $68,318 13 $67 979 $67,979 14 $64,677 15 $63,942 16 $63,465 17 $62,884 18 $61,614 19 $61,550 20 $61,020 21 $69,219 Median Household Rank Income 21 $61,467 1 $60,541 3 4 $59,962 $61,155 2 $58,396 5 $56,770 , 6 $54,821 9 $56,304 7 $53,541 10 $55,506 8 $48,720 14 $53,353 11 $52,563 12 $52 153 $52,153 13 $48,569 15 $46,826 17 $45,963 19 $47,693 16 $45,492 21 $45,906 20 $46,479 18 $52,611 Per Capita Rank Income 21 $31,223 1 $30,799 2 3 $30,733 $25,104 17 $28,569 6 $29,854 , 4 $29,491 5 $28,402 7 $28,033 9 $26,692 14 $28,344 8 $27,217 11 $27,639 10 $27 154 $27,154 12 $26,760 13 $20,439 21 $24,912 18 $25,257 16 $24,593 19 $23,764 20 $25,540 15 $26,989 HHs w/ Income $100 000+ Rank $100,000+ (000s) 21 152.8 1 119.5 3 9 93.1 97.5 8 115.4 5 119.5 4 88.1 10 123.6 2 107.9 6 82.8 11 54.9 20 62.6 16 101.8 7 69 1 69.1 13 71.5 12 44.4 21 58.6 18 66.7 14 55.0 19 59.6 17 63.6 15 85.8 Source: Claritas 2010. (1) - Excludes Richmond, VA. Preliminary Draft – Subject to Revision Page 32 Appendix B - Demographics (Drive Time) Median Market Comparison 30 Minute Designation Age Richmond Average Age and Median Age are Comparable to the Median Market Averages Market Fresno, CA Salt Lake City, UT Austin-Round Rock, TX Raleigh-Cary, NC Oklahoma City, OK Virginia Beach-Norfolk-Newport News, VA-NC Memphis, p , TN-MS-AR Indianapolis-Carmel, IN Charlotte-Gastonia-Concord, NC-SC Tucson, AZ Nashville-Davidson-Murfreesboro-Franklin, TN Jacksonville, FL Richmond, VA Milwaukee Waukesha West Allis, Milwaukee-Waukesha-West Allis WI Birmingham-Hoover, AL Rochester, NY Providence-New Bedford-Fall River, RI-MA Louisville/Jefferson County, KY-IN Hartford-West Hartford-East Hartford, CT New Orleans-Metairie-Kenner, LA Buffalo-Niagara Falls, NY Average (1) Average Age 31.0 31.2 33.2 34.6 34.8 35.3 35.4 35.9 35.9 36.7 37.0 37.1 37.1 37 7 37.7 38.1 38.5 38.5 38.6 38.9 38.9 40.0 36.4 Rank 21 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 Median Age 33.7 33.3 34.2 35.1 36.4 36.4 36.0 36.2 35.8 38.2 37.0 37.1 37.5 37 8 37.8 38.3 38.9 38.9 38.5 39.0 38.7 40.3 Rank 21 2 1 3 4 8 8 6 7 5 14 10 11 12 13 15 18 18 16 20 17 21 37.0 Source: Claritas 2010. (1) - Excludes Richmond, VA. Preliminary Draft – Subject to Revision Page 33 Appendix B - Demographics (Drive Time) Median Market Comparison 30 Minute Designation Unemployment Richmond Unemployment is Comparable to the Median Market Average Market Salt Lake City, UT Oklahoma City, OK Nashville-Davidson-Murfreesboro-Franklin, TN Virginia Beach-Norfolk-Newport News, VA-NC Raleigh-Cary, NC Austin-Round Rock, TX Rochester, NY Milwaukee-Waukesha-West Allis, WI Richmond, VA Buffalo-Niagara Falls, NY Tucson, AZ Birmingham-Hoover, AL Louisville/Jefferson County, KY-IN Hartford-West Hartford-East Hartford, CT Indianapolis-Carmel, IN Jacksonville, FL New Orleans-Metairie-Kenner, LA Providence-New Bedford-Fall River, RI-MA Charlotte-Gastonia-Concord, NC-SC Fresno, CA Memphis, TN-MS-AR Average (1) Unemployment Rate 2.76% 3.17% 3.59% 3.61% 3.75% 3.98% 4.02% 4.13% 4.15% 4.20% 4.23% 4.35% 4.42% 4.43% 4.51% 4.57% 4.75% 4.76% 4.84% 5.54% 6.12% Rank 21 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 4.29% Source: Claritas 2010. (1) - Excludes Richmond Richmond, VA VA. Preliminary Draft – Subject to Revision Page 34 Confidential APPENDIX C LARGE ARENA EVENTS Preliminary Draft – Subject to Revision Page 35 Appendix C – Large Arenas Events Events with Attendance of Over 15,000 , Over the Last Twelve Months, Few Events Generated Attendance Over 15,000 at Large Arenas Pollstar Reported Events Over 15,000 Attendance 50 100% 93% 45 87% 100% 100% 95% 92% 4 87% 91% 40 80% 3 35 30 60% 25 42 20 15 1 2 1 2 24 10 5 40% 36 13 13 14 Times Union Center Qwest Center Omaha Wells Fargo Arena 18 18 INTRUST Bank Arena Verizon Arena 20% 0 0% Events Below 15,000 , Preliminary Draft – Subject to Revision Events 15,000 or More , Jacksonville Veterans Memorial Arena BOK Center Sprint Center % of Events Below 15,000 , Page 36 Appendix C – Large Arenas Events Concerts with Attendance of Over 15,000 Bon Jovi BOK Center, Sprint Center Paul McCartney BOK Center C Miley Cyrus Sprint Center Bruce Springsteen & The E Street Band Time Union Center Richmond Coliseum (2008/2005/2003) Elton John / Billy Joel Sprint Center Richmond Coliseum (2005/2002) George Strait / Reba / Lee Ann Womack BOK Center, Qwest Center Omaha, Sprint Center, Wells Fargo Arena, Verizon Arena Richmond Coliseum (2008/2005) Phish Times Union Center (John Paul Jones Arena 2009) (Hampton Coliseum 2009/2004/2003) Nickelback Qwest Center Omaha (Hampton Coliseum 2010/2007/2006) Preliminary Draft – Subject to Revision Out of 191 Concert Acts That Played the 8 Evaluated Venues Over the Past 12 Months*, Only 13 Generated Attendance of Over 15,000 * Represents Last 12 Months of Available Data Page 37 Appendix C – Large Arenas Events BOK Center Opened 2008 CBSA Market Tulsa, OK Population 930,074 Characteristics 19,199 Seats 38 Suites 20 Loge Boxes 680 Club Seats Tenants AFL CHL Preliminary Draft – Subject to Revision BOK Center: August 2009 to July 2010 Event Avg. Tickets Avg. Gross Avg. Ticket Price Rascal Flatts 9,617 $638,967 $66 Justin Bieber 12,993 $584,810 $45 Jeff Dunham 7,189 $298,343 $41 Michael Buble 11,121 $837,642 $75 Ringling Bros. 4,371 $71,299 $16 Brooks & Dunn 13,007 $725,350 $56 "The Rowdy Frynds Tour" 6,369 $359,819 $56 Widespread Panic 3,172 $ $94,710 $ $30 Nickelback 14,804 $919,076 $62 "Rock and Worship" Roadshow 8,595 $85,950 $10 Bon Jovi 17,053 $1,276,475 $75 The Harlem Globetrotters 2,828 $63,352 $22 Tim McGraw 11 689 11,689 $678 309 $678,309 $58 "Sesame Street Live" 1,488 $25,592 $17 The Black Eyed Peas 13,310 $832,529 $63 Eric Clapton 13,354 $1,093,750 $82 "Winter Jam" 9,222 $89,322 $10 George Strait / Reba / Lee Ann Womack 18,098 $1,551,967 $86 The Harlem Globetrotters 4,200 $214,574 $51 Daughtry 5,267 $214,800 $41 Note: Reflects Pollstar reported events. May not include other concerts, family shows or sporting events. Source: Pollstar. Page 38 Appendix C – Large Arenas Events BOK Center (Continued) Opened 2008 CBSA Market Tulsa, OK Population 930,074 Characteristics 19,199 Seats 38 Suites 20 Loge Boxes 680 Club Seats Tenants AFL CHL Preliminary Draft – Subject to Revision BOK Center: August 2009 to July 2010 Event Avg. Tickets Avg. Gross Avg. Ticket Price Trans-Siberian Orchestra 10,716 $477,034 $45 KISS 10 604 10,604 $788 661 $788,661 $74 "Curious George" 853 $12,203 $14 "Winterfest" 2,654 $13,269 $5 Alan Jackson 5,884 $381,321 $65 "So You Think You Can Dance" 3,983 $209,983 $53 "Star Wars: In Concert" 5 672 5,672 $289 644 $289,644 $51 Miley Cyrus 13,151 $937,265 $71 Creed 5,475 $280,705 $51 Dave Matthews Band 13,018 $846,170 $65 Taylor Swift 12,772 $584,998 $46 "Rock 'N Rib Festival" 5 977 5,977 $17 930 $17,930 $3 Britney Spears 10,930 $794,596 $73 Def Leppard 12,837 $1,036,923 $81 Lil' Wayne 6,553 $300,605 $46 Paul McCartney 15,479 $2,648,659 $171 Keith Urban 12 902 12,902 $754 655 $754,655 $58 Journey 4,967 $319,686 $64 The Wiggles 1,771 $39,631 $22 Note: Reflects Pollstar reported events. May not include other concerts, family shows or sporting events. S Source: P Pollstar. ll t Page 39 Appendix C – Large Arenas Events INTRUST Bank Arena Opened 2010 CBSA Market Wichita, KS Population 612,430 Characteristics 15,500 Seats 22 Suites 40 Loge Boxes 300 Club Seats Tenants CHL INTRUST Bank Arena: January 2010 to August 2010 Event Avg. Tickets Avg. Gross Avg. Ticket Price Dave Matthews Band 9,340 $605,111 $65 Rascal Flatts 9,565 $461,852 $48 REO Speedwagon / Pat Benatar 3,276 $182,372 $56 Eagles 10,196 $1,123,010 $110 Michael Buble 7,688 $577,866 $75 Tim McGraw 10,438 $660,218 $63 B k &D Brooks Dunn 8 620 8,620 $545 204 $545,204 $63 Daughtry 4,276 $159,124 $37 "Star Wars: In Concert" 2,688 $124,236 $46 Nickelback 11,421 $724,005 $63 Bill Gaither & Friends 3,720 $145,858 $39 Walking With Dinosaurs Dinosaurs" 1 911 1,911 $81 139 $81,139 $42 "Walking Taylor Swift 11,228 $610,801 $54 "Winter Jam" 8,324 $83,240 $10 Jeff Dunham 7,055 $306,892 $43 Bon Jovi 13,675 $1,064,673 $78 Elton John / Billy Joel 14,029 $1,706,428 $122 George Strait / Reba / Lee Ann Womack 14,652 $1,259,197 $86 Brad Paisley 10,401 $531,387 $51 Note: Reflects Pollstar reported events. May not include other concerts, family shows or sporting events. Source: Pollstar. Preliminary Draft – Subject to Revision Page 40 Appendix C – Large Arenas Events Jacksonville Veterans Memorial Arena Opened 2003 CBSA Market Jacksonville, FL Population 1,372,183 Characteristics 16,000 Seats 28 Suites 1,116 Club Seats Tenants Jacksonville University Jacksonville Veterans Memorial Arena: August 2009 to July 2010 Event Avg. Tickets Avg. Gross Avg. Ticket Price "Carnival of Madness" / Shinedown 4,858 $167,200 $34 Michael Buble 10,720 $822,993 $77 Brooks & Dunn 8,819 $515,136 $58 Jeff Dunham 6,297 $253,602 $40 Tim McGraw 10,171 $534,999 $53 The Harlem Globetrotters 5,884 $164,975 $28 Breaking Benjamin 6,735 $260,981 $39 Jimmy Buffet 12 506 12,506 $1 310 056 $1,310,056 $105 Tyler Perry's "Madea's Big Happy Family" 4,813 $281,370 $58 The Black Eyed Peas 11,590 $636,653 $55 John Mayer 9,968 $511,532 $51 Dane Cook 8,030 $425,000 $53 "Winter Jam" 9,654 $96,540 $10 The World Famous Lipizzaner Stallions 807 $20,025 $25 Trans-Siberian Orchestra 8,099 $312,420 $39 Casting Crowns 3,566 $90,673 $25 AC/DC 9,778 $792,307 $81 "Star Wars: In Concert" 3,725 $206,830 $56 World Wrestling Entertainment" Entertainment 7 591 7,591 $247 520 $247,520 $33 "World Brad Paisley 9,983 $449,566 $45 Earth 2,098 $131,782 $63 Jamie Foxx 4,097 $232,974 $57 Kenny Chesney 12,243 $762,183 $62 Rascal Flatts 10,212 $596,312 $58 Note: Reflects Pollstar reported events. May not include other concerts, family shows or sporting events. Source: Pollstar. Preliminary Draft – Subject to Revision Page 41 Appendix C – Large Arenas Events Qwest Center Omaha Opened 2003 CBSA Market Omaha-Council Bluffs, NE-IA Population 851,194 Characteristics 18,300 Seats 32 Suites 1,100 Club Seats Qwest Center Omaha: August 2009 to July 2010 Event Avg. Tickets Avg. Gross Avg. Ticket Price J i Bieber Justin Bi b 11 682 11,682 $524 563 $524,563 $45 Michael Buble 9,133 $731,474 $80 Nickelback 15,766 $885,125 $56 George Strait / Reba / Lee Ann Womack 17,347 $1,500,319 $86 Cirque du Soleil - "Alegria" 1,421 $93,813 $66 Tyler Perry's "Madea's Big Happy Family" 6,007 $343,670 $57 Bon Jovi 14,980 $1,122,623 $75 John Mayer 7,819 $406,220 $52 The World Famous Lipizanner Stallions 2,336 $50,927 $22 Tim McGraw 13,923 $637,429 $46 "So You Think You Can Dance" 4,027 $214,633 $53 Miley Cyrus 13,249 $928,176 $70 Demi Lovato 3,596 $127,468 $35 Green Day 8,708 $392,879 $45 Taylor Swift 13,892 $675,455 $49 Note: Reflects Pollstar reported events. Tenants Source: Pollstar. Creighton University Basketball University of Nebraska at Omaha Hockey Preliminary Draft – Subject to Revision May not include other concerts, family shows or sporting events. Page 42 Appendix C – Large Arenas Events Sprint Center Opened 2007 CBSA Market Kansas City, MO-KS Population 2,031,038 Characteristics 18,700 Seats 72 Suites 1,500 Club Seats Tenants NA Sprint Center: August 2009 to July 2010 Event Avg. Tickets Avg. Gross Avg. Ticket Price Justin Bieber 14,481 $607,701 $42 Tim McGraw 10,668 , $669,030 , $63 Michael Buble 12,905 $1,010,560 $78 Tool 12,490 $708,205 $57 Sugarland 9,269 $432,286 $47 Aventura 4,082 $262,240 $64 Brad Paisley 7,335 $344,015 $47 D ht Daughtry 5 333 5,333 $199 984 $199,984 $37 James Taylor / Carloe King 13,825 $1,128,255 $82 Cirque du Soleil - "Alegria" 13,107 $855,442 $65 "Stars on Ice" 1,709 $87,986 $51 "The Rowdy Frynds Tour" 6,153 $323,396 $53 Pearl Jam 11,138 $723,922 $65 Nickelback 14,698 $832,630 $57 Tyler Perry's "Madea's Big Happy Family" 12,944 $797,418 $62 AC/DC 12,104 $994,664 $82 John Rich 2,499 $170,239 $68 George Strait / Reba / Lee Ann Womack 18,045 $1,547,750 $86 Taylor Swift 13 781 13,781 $761 110 $761,110 $55 The Black Eyed Peas 13,354 $874,851 $66 John Mayer 8,842 $532,262 $60 "World Wrestling Entertainment" 11,728 $275,500 $23 Bon Jovi 15,972 $1,318,327 $83 Note: Reflects Pollstar reported p events. May y not include other concerts,, family y shows or sporting p g events. Source: Pollstar. Preliminary Draft – Subject to Revision Page 43 Appendix C – Large Arenas Events Sprint Center (Continued) Opened 2007 CBSA Market Kansas City, MO-KS Population 2,031,038 Characteristics 18,700 Seats 72 Suites 1,500 Club Seats Tenants NA Sprint Center: August 2009 to July 2010 Event Avg. Tickets Avg. Gross Avg. Ticket Price Eric Clapton 9,650 $773,365 $80 "Wi "Winter JJam"" 12 120 12,120 $117 396 $117,396 $10 Elton John / Billy Joel 17,682 $2,112,261 $119 Rascal Flatts 10,773 $676,955 $63 Casting Crowns 3,995 $104,280 $26 "Sesame Street Live" 2,108 $30,675 $15 , $126,871 , $26 The Harlem Globetrotters 4,841 Trans-Siberian Orchestra 12,277 $567,703 $46 KISS 9,921 $553,569 $56 "Star Wars: In Concert" 7,515 $405,845 $54 "Curious George" 1,368 $17,737 $13 "So You Think You Can Dance" 5,176 $271,408 $52 Miley Cyrus 15 525 15,525 $1 111 178 $1,111,178 $72 Kings of Leon 10,303 $436,827 $42 Creed 6,638 $269,665 $41 Dave Matthews Band 11,238 $686,850 $61 Ringling Bros. 4,493 $94,436 $21 "American Idols Live" 8,310 $530,407 $64 "World Wrestling Entertainment" 7,692 $182,100 $24 Green Day 8,567 $360,031 $42 "Crue Fest" / Motley Crue 8,134 $493,801 $61 Keith Urban 14,094 $931,253 $66 The Wiggles 1,833 $49,506 $27 Note: Reflects Pollstar reported events. May not include other concerts, family shows or sporting events. Source: Pollstar. Preliminary Draft – Subject to Revision Page 44 Appendix C – Large Arenas Events Times Union Center Opened 1990 CBSA Market Albany-Schenectady-Troy, NY Population 857,322 Characteristics 17,500 Seats 25 Suites 0 Club Seats Tenants AHL Sienna College Preliminary Draft – Subject to Revision Times Union Center: April 2009 to March 2010 Event Avg. Tickets Avg. Gross Avg. Ticket Price Daughtry 5,665 $218,488 $39 Carrie Underwood 8,316 $393,200 $47 Elton John / Billy Joel 13,874 $1,623,929 $117 Jeff Dunham 7,092 $308,502 $44 Trans-Siberian Orchestra 9,247 $438,708 $47 Phish 15,442 $740,976 $48 Metallica 14 012 14,012 $956 958 $956,958 $68 Keith Urban 10,704 $616,912 $58 "American Idols Live" 7,788 $489,821 $63 AC/DC 8,293 $733,006 $88 Green Day 7,965 $320,557 $40 "Walking With Dinosaurs" 3,883 $157,578 $41 "Yannni Voices: Live in Concert" 1,681 $87,615 $52 Bruce Springsteen & The E Street Band 15,096 $1,377,450 $91 The Dead 12,858 $1,154,568 $90 Note: Reflects Pollstar reported events. May not include other concerts, family shows or sporting events. Source: Pollstar. Page 45 Appendix C – Large Arenas Events Verizon Arena Opened 1999 CBSA Market Little Rock-North Little Rock-Conway, AR Population P l ti 687,976 687 976 Characteristics 18,000 Seats 29 Suites 0 Club Seats Tenants IFL Verizon Arena: August 2009 to July 2010 Event Avg. Tickets Avg. Gross Avg. Ticket Price Justin Bieber 13 676 13,676 $614 854 $614,854 $45 Chris Tomlin / Toby Mac 4,395 $132,320 $30 Tim McGraw 10,032 $594,892 $59 "Winter Jam" 13,254 $132,540 $10 George Strait / Reba / Lee Ann Womack 15,497 $1,324,706 $85 Breaking Benjamin 6,575 $248,206 $38 Martina McBride / Trace Adkins 4,871 $215,549 $44 Lil' Wayne 2,727 $191,735 $70 Trans-Siberian Orchestra 9,252 $269,634 $29 Daughtry 5,471 $215,772 $39 Casting Crowns 4,676 $132,259 $28 Zac Brown Band 4 245 4,245 $1 116 738 $1,116,738 $263 Dane Cook 3,747 $208,280 $56 KISS 10,166 $415,678 $41 Miley Cyrus 14,119 $969,281 $69 Maxwell 5,639 $294,646 $52 Robin Williams 3,980 $263,690 $66 Taylor Swift 13,978 $654,089 $47 Keith Urban 9,718 $556,759 $57 Note: Reflects Pollstar reported events. May not include other concerts, family shows or sporting events. Source: Pollstar. Preliminary Draft – Subject to Revision Page 46 Appendix C – Large Arenas Events Wells Fargo Arena Opened 2005 CBSA Market Des Moines, IA Population 570,780 Characteristics 16,980 Seats 36 Suites 20 Loge Boxes 600 Club Seats Tenants NBDL AFL Preliminary Draft – Subject to Revision Wells Fargo Arena: August 2009 to July 2010 Event Avg. Tickets Avg. Gross Avg. Ticket Price p g 683 $42,875 $ , $ $63 REO Speedwagon Justin Bieber 14,717 $639,226 $43 "Sesame Street Live" 1,124 $18,705 $17 Taylor Swift 13,264 $738,280 $56 Hillsong United 2,797 $66,320 $24 AC/DC 13,822 $1,229,551 $89 Elton John 14,250 $1,102,920 $77 George Strait / Reba / Lee Ann Womack 16,543 $1,324,582 $80 The Black Eyed Peas 14,000 $804,128 $57 Tim McGraw 13,350 $574,419 $43 Brad Paisley 9,866 $559,552 $57 Trans Siberian Orchestra Trans-Siberian 10 394 10,394 $425 670 $425,670 $41 Miley Cyrus 14,174 $1,005,453 $71 Bruce Springsteen & The E Street Band 8,451 $678,928 $80 Britney Spears 11,815 $514,798 $44 Note: Reflects Pollstar reported p events. May y not include other concerts,, family y shows or sporting p g events. Source: Pollstar. Page 47 Confidential APPENDIX D NCAA/ACC TOURNAMENT SITES Preliminary Draft – Subject to Revision Page 48 Appendix D – NCAA/ACC Tournament Sites NCAA Tournament Sites Arenas Under 15,000 Highlighted 2010 - NCAA Men's Basketball Tournament Sites (1st and 2nd Rounds) Maximum Arena City, State Capacity Bradley Center Milwaukee, WI 20,000 Dunkin' Donuts Center Providence, RI 14,514 Ford Center Oklahoma City, OK 20,817 HP Pavilion San Jose, CA 20,000 HSBC Arena Buffalo, NY 21,500 Jacksonville Veterans Memorial Arena Jacksonville, FL 16,000 New Orleans Arena New Orleans, LA 18,000 S k Spokane Veterans Memorial i lA Arena S k Spokane, WA A 12 638 12,638 Average 17,934 2009 - NCAA Men's Basketball Tournament Sites (1st and 2nd Rounds) Maximum Arena City, State Capacity American Airlines Arena Miami, FL 20,740 Greensboro Coliseum Greensboro, NC 23,830 Hubert H. Humphrey Metrodome Minneapolis, MN NA R Rose Garden G d A Arena P tl d OR Portland, 20 000 20,000 Sprint Center Kansas City, MO 18,700 Taco Bell Arena Boise, ID 13,390 University of Dayton Arena Dayton, OH 14,000 Wachovia Center Philadelphia, PA 22,000 Average 18,951 2008 - NCAA Men's Basketball Tournament Sites (1st and 2nd Rounds) Maximum Arena City State City, Capacity Alltel Arena North Little Rock, AR 19,000 BJCC Arena Birmingham, AL 19,000 Honda Center Anaheim, CA 19,400 Pepsi Center Denver, CO 20,000 Qwest Center Omaha Omaha, NE 18,300 RBC Center Raleigh, NC 19,722 St. Pete Times Forum Tampa, FL 21,500 Verizon Center Washington D Washington, D.C. C 20 173 20,173 Average 19,637 Preliminary Draft – Subject to Revision Basketball Capacity 18,600 13,106 17,908 17,723 19,500 14,091 17,500 12 0 8 12,058 16,311 Luxury Suites Club Seats 60 500 20 0 36 2,620 65 3,300 80 2,500 28 1,116 56 2,800 16 146 45 1,623 Basketball Capacity 19,000 23,330 NA 19 980 19,980 18,197 11,985 13,400 21,000 18,127 Luxury Suites Club Seats 20 1,100 24 NA NA NA 70 1 840 1,840 72 1,500 0 0 8 200 126 1,800 46 1,073 Basketball Capacity 18,000 17,000 18,200 19,099 17,560 19,722 20,500 20 173 20,173 18,782 Luxury Suites Club Seats 29 0 0 0 83 1,176 95 1,850 32 1,100 66 2,000 82 3,840 108 2 280 2,280 62 1,531 2007 - NCAA Men's Basketball Tournament Sites (1st and 2nd Rounds) Maximum Arena City, State Capacity ARCO Arena Sacramento, CA 17,500 HSBC Arena Buffalo, NY 21,500 Lawrence Joel Veterans Memorial Coliseum Winston-Salem, NC 15,300 Nationwide Arena Columbus, OH 20,000 New Orleans Arena New Orleans, LA 18,000 Rupp Arena Lexington, KY 23,500 Spokane Veterans Memorial Arena Spokane, WA 12,638 United i d Center C Chi Chicago, IL 2 000 25,000 Average 19,180 2006 - NCAA Men's Basketball Tournament Sites (1st and 2nd Rounds) Maximum Arena City, State Capacity American Airlines Center Dallas, TX 21,041 Cox Arena San Diego, CA 13,000 Greensboro Coliseum Greensboro, NC 23,830 J k Jacksonville ill Veterans V t Memorial M i l Arena A J k Jacksonville, ill FL 16 000 16,000 Jon M. Huntsman Center Salt Lake City, UT 15,500 Palace of Auburn Hills Auburn Hills, MI 22,076 University of Dayton Arena Dayton, OH 14,000 Wachovia Center Philadelphia, PA 22,000 Average 18,431 Basketball Capacity 17,000 19,500 15,000 19,000 17,500 23,200 12,058 21 800 21,800 18,132 Luxury Suites Club Seats 30 412 80 2,500 18 0 52 1,450 56 2,800 0 0 16 146 1 8 178 3 000 3,000 54 1,289 Basketball Capacity 20,000 12,414 23,330 14 091 14,091 15,123 22,076 13,400 21,000 17,679 Luxury Suites Club Seats 142 1,988 0 0 24 NA 28 1 116 1,116 0 0 193 700 8 200 126 1,800 65 829 Page 49 Appendix D – NCAA/ACC Tournament Sites ACC Tournament Sites Recent Host Arenas have had an Average Basketball Capacity of Over 21,000 2006-2010 ACC Men's Basketball Tournament Sites Year 2010 2009 2008 2007 2006 Arena Greensboro Coliseum g Dome Georgia Time Warner Cable Arena St. Pete Times Forum Greensboro Coliseum Average Preliminary Draft – Subject to Revision City, State Greensboro, NC Atlanta,, GA Charlotte, NC Tampa, FL Greensboro, NC Maximum Basketball Capacity Capacity 23,830 23,330 NA NA 20,200 18,500 21,500 20,500 23,830 23,330 22,340 21,415 Luxury Suites 24 NA 64 82 24 Club Seats NA NA 2,300 3,840 NA 49 3,070 Page 50 Confidential APPENDIX E SITE ANALYSIS Preliminary Draft – Subject to Revision Page 51 Appendix E – Site Analysis ARENA PROGRAM • Multi-Purpose Event Center • 15,000+ Seats • 20-30 Suites • 500 Club Seats • On-site/Adjacent Premium customer parking spaces – 500 spaces. SITE REQUIREMENTS • Urban Sites Site Area Requirement • Suburban Sites Site Area Requirement Desirable: 6 acres Minimum: 5.05 acres Desirable: 65 acres without public transit • Site Configuration allows acceptable building configuration and exterior spaces • Ability to build or lease parking spaces for premium customers adjacent to arena • Proximityy to adequate q pparking g and transit within ½ mile • Ability to accommodate service functions and television truck parking Preliminary Draft – Subject to Revision Page 52 Appendix E – Site Analysis Urban Design Factors • Adequate site area and dimension • Configuration • Public perception • Fan experience • Visibility • Safety and security Economic Factors • Property availability and relative costs • Displacement and relocation • Compensation • Development Costs • Leverage community assets • Promote development and investment • Potential positive impact on community Transportation Factors • Pedestrian circulation • Vehicular access • Public transportation p • Parking quantity • Parking proximity Timing Factors • Acquisition timing • Approvals • Ownershipp issues • Zoning • Restrictions Site and Utility Factors • Utility infrastructure • Environmental quality Intangibles Preliminary Draft – Subject to Revision • Public bli Support • Risk Page 53 Appendix E – Site Analysis Site Selection – Preliminary Screening Seven Sites Evaluated – Preliminary Screening Site #1 Existing Coliseum Site Site #2 City Parking Lots Site (8th-10th Streets) Site #3 The Diamond Site Site #4 ABC Site Site #5 City Stadium Site Site #6 John Perel Property Site Site #7 Mayo’s Island Site Preliminary Site Evaluation Identified Four Preferred Sites Preliminary Draft – Subject to Revision Page 54 Appendix E – Site Analysis Preliminary Draft – Subject to Revision Page 55 Appendix E – Site Analysis Preliminary Draft – Subject to Revision Page 56 Appendix E – Site Analysis Preliminary Draft – Subject to Revision Page 57 Appendix E – Site Analysis Preliminary Draft – Subject to Revision Page 58 Appendix E – Site Analysis Preliminary Draft – Subject to Revision Page 59 Appendix E – Site Analysis Preliminary Draft – Subject to Revision Page 60 Appendix E – Site Analysis Preliminary Draft – Subject to Revision Page 61 Appendix E – Site Analysis Preliminary Draft – Subject to Revision Page 62 Appendix E – Site Analysis Preliminary Draft – Subject to Revision Page 63 Appendix E – Site Analysis Preliminary Draft – Subject to Revision Page 64 Appendix E – Site Analysis Preliminary Draft – Subject to Revision Page 65 Appendix E – Site Analysis Preliminary Draft – Subject to Revision Page 66 Appendix E – Site Analysis Preliminary Draft – Subject to Revision Page 67 Appendix E – Site Analysis Preliminary Draft – Subject to Revision Page 68 Appendix E – Site Analysis Preliminary Draft – Subject to Revision Page 69 Appendix E – Site Analysis Site Selection – Additional Screening Preliminary Draft – Subject to Revision Page 70 Appendix E – Site Analysis Site Selection – Additional Screeningg (Weighted Average) Preliminary Draft – Subject to Revision Page 71 Appendix E – Site Analysis Site Selection – Additional Screening (Not Weighted) Preliminary Draft – Subject to Revision Urban Design Factors Adequate site area and dimension Configuration Public perception Fan experience Visibility Safety y and security y Subtotal Transportation Pedestrian circulation Vehicular access Public transportation Parking quantity Parking proximity Subtotal Site and Utility Factors Utility infrastructure Environmental quality Subtotal Economic factors Property availability and relative costs Displacement and relocation Compensation Development Costs Leverage community assets Promote development and investment Potential positive impact on community Subtotal Ti i Factors Timing F t Acquisition timing Approvals Ownership issues Zoning Restrictions Subtotal Intangibles Public Support Risk Subtotal TOTAL POINTS Site 1 Coliseum Site 2 City Lots Site 3 Diamond Site Site 4 ABC Site 4 4 4 4 4 4 24 2 1 4 4 4 4 19 4 3 3 2 2 2 16 4 3 3 2 3 2 17 3 1 4 2 2 12 4 2 4 2 2 14 2 4 4 4 4 18 2 4 4 3 4 17 4 3 7 4 4 8 4 1 5 4 3 7 2 1 4 1 3 3 4 18 3 3 4 2 4 4 4 24 4 4 2 4 2 1 4 21 3 3 2 3 2 2 4 19 1 3 4 4 4 16 3 4 2 4 3 16 4 3 3 4 4 18 2 3 2 3 3 13 3 1 4 81 4 2 6 87 3 3 6 84 3 3 6 79 Page 72 Confidential APPENDIX F ARENA DEVELOPMENT CASE STUDIES Preliminary Draft – Subject to Revision Page 73 Appendix F – Arena Development Case Studies Selected Case Studies The following analysis is intended to provide detail regarding arena development, sources/uses of funds, and specific lease terms. The information is presented for illustrative purposes. The information contained herein has been obtained from sources believed to be reliable. However, in some instances it is difficult to obtain complete information, particularly as it relates to sources and uses of funds. In addition, figures g change g over time and are subject j to interpretation. p Most information has been gathered from the following sources: arenas; municipalities; franchises; public records; industry publications; and, our internal database. Figures have not been audited or further verified. verified It is important to note that some of the projects may include sources and/or uses of funds that are not specifically related to the arena project. Examples include: land acquisition; infrastructure; etc. Development costs have not been adjusted to current dollars. Preliminary Draft – Subject to Revision Page 74 Appendix F – Arena Development Case Studies Qwest Center ((Omaha,, Nebraska)) Q The Qwest Center opened in 2003. The arena is part of a downtown redevelopment site which includes a convention center, parking, and a Hilton Hotel. The Qwest Center includes over 1,100,000 squaree feet squa ee including c ud g aan eexhibition b o hall, a , meeting ee g space aandd thee aarena. e a. Thee aarena e a has as a maximum a u seating capacity of approximately 17,560. There are 32 luxury suites at the facility and approximately 1,200 club seats. The arena is home to the Creighton University men’s basketball team, the University of Nebraska, Omaha men’s hockey team, family shows, concerts, and numerous other special events. Qwest Center was funded in p Q part by y pprivate donations ($ ($75 million). ) Arena: Qwest Center Construction Manager: Kiewit Construction Company Year Open/Renovated: 2003 Architect: DLR Group Arena Owner: City of Omaha Management: Metropolitan Entertainment & Convention Authority Total Cost: See Sources/Uses Schedule Concessionaire: Levy Restaurants Public Investment: See Sources/Uses Schedule Total Seating Capacity: 17,560 Private Investment: See Sources/Uses Schedule Luxury Suites: 32 Cost Overrun Responsibility: To Be Confirmed Club Seats: 1,200 New Construction/Renovation: New Construction Controlled Parking: 4,500 Sources: Qwest Center, City of Omaha and industry research. Preliminary Draft – Subject to Revision Page 75 Appendix F – Arena Development Case Studies Qwest Center (Omaha, Nebraska) Qwest Center Sources and Uses of Funds - Gross Sources of Funds Convention Center/Arena Bonds Par Amount of Convention Center/Arena Bonds $198,000,000 , , Original Issue Discount ($1,823,201) Original Issue Premium $20,799,747 Various Purpose Bonds Par Amount of Various Purpose Bonds $21,000,000 Original Issue Premium $169,070 General Obligation Refunding Bonds Par Amount of General Obligation Refunding Bonds $24,165,000 Original Issue Premium $710,573 Private Donations Total Sources Uses of Funds Convention Center Arena Infrastructure Various Purposes Escrow Fund Costs of Insurance, including Underwriters' Discount Total Uses R Rounding di Total Uses - Adjusted Source: Qwest Center Official Statement. Preliminary Draft – Subject to Revision $216,976,546 $21,169,070 $24,875,573 $75,000,000 $338,021,189 $99,434,009 $108,188,989 $82,820,000 $21,001,474 $24,692,930 $1,883,360 $338,020,762 $427 $338,021,189 Page 76 Appendix F – Arena Development Case Studies Qwest Center (Omaha, Nebraska) Qwest Center Sources and Uses of Funds - Net Sources of Funds Bond Proceeds Series A Bonds Series B Bonds Private Donations Total Sources $215,442,998 $139,097,846 $76,345,152 $ , , $75,000,000 $290,442,998 Uses of Funds MECA $207,622,998 Convention Center Costs $99,434,009 Arena Costs $108,188,989 City- Infrastructure Costs $82,820,000 Total Uses $290,442,998 Source: Qwest Center Official Statement. Preliminary Draft – Subject to Revision Page 77 Appendix F – Arena Development Case Studies Oklahoma Cityy Arena (Oklahoma ( City, y, OK)) The Oklahoma City Arena, previously known as the Ford Center, was part of the City’s Metropolitan Area Projects (MAPS) program that was intended to contribute to the redevelopment and revitalization of the downtown area of Oklahoma City. City The arena was initially constructed without a major league tenant, with the hope that the City would be able attract a major league tenant in the future. The arena served as the temporary home of the NBA New Orleans Hornets following Hurricane Katrina and now serves as the home of the NBA Oklahoma City Thunder (formerly Seattle Sonics) Sonics). Arena: Oklahoma City Arena Contractor: Flintco Construction Co. Year Open/Renovated: 2002/2009 Renovation Architect: Benham Arena Owner: City of Oklahoma City Management: SMG Total Cost: $87.7 Million Concessionaire: Savor Public Investment: See Sources/Uses Schedule Total Seating Capacity: 20,817 Private Investment: See Sources/Uses Schedule Luxury Suites: 36 Cost Overrun Responsibility: City of Oklahoma City Club Seats: 2,620 New Construction/Renovation: New Construction Controlled Parking: Not Available Preliminary Draft – Subject to Revision Page 78 Appendix F – Arena Development Case Studies Oklahoma Cityy Arena (Oklahoma ( City, y, OK)) Metropolitan Area Projects (MAPS) Funded by Temporary 5-Year $0.01 Sales Tax Approved 1993 Sales Tax Extended by Vote for Additional 6-Months 6 Months (Expired 1999) (Sales Tax Increase Recently Extended for Additional Ford Center Improvements) Over $309 Million was Collected by Sales Tax ($54 Million Earned in Interest) Public Projects Oklahoma City Arena AT&T Bricktown Ballpark Bricktown Canal (Shops/Restaurants/Entertainment/Etc.) Cox Business Services Convention Center – Renovation Civic Center Music Hall Oklahoma City Fairgrounds Oklahoma River (Landscape/Trails/Recreational Facilities) Library & Learning Center Trolley System $87.7 Million $34.2 Million $32.1 Million $63.1 Million $52.4 Million $14 0 Million $14.0 $51.8 Million $21.5 Million $5.3 Million Projects are Debt-Free Preliminary Draft – Subject to Revision Page 79 Appendix F – Arena Development Case Studies Oklahoma Cityy Arena (Oklahoma ( City, y, OK)) 2003 Study by Larkin Warner (Regents Professor Emeritus) at Oklahoma State University MAPS Served as Catalyst for Additional Downtown Development; Including – Oklahoma Health Center – Two Downtown Hotels – Oklahoma City Museum of Art – Oklahoma City National Memorial and Museum – Office Buildings – Upscale Residential Apartment Complex – Bass Pro Shop – Other MAPS and Additional Development Accounted for Approximately $943 Million in Central City Development Projects Preliminary Draft – Subject to Revision Page 80 Appendix F – Arena Development Case Studies Sprint Center (Kansas City, Missouri) The Sprint Center opened October 10, 2007. The first event, an Elton John concert, was held October 13, 2007. Total construction costs for the arena project was approximately $276.1 million. The arena has a maximum seatingg capacity p y of 19,246 ((center stage g configuration). g ) For basketball and hockeyy events, the Sprint Center seats approximately 18,630 and 17,297, respectively. There are 72 luxury suites and 1,706 club seats in the arena. The arena previously hosted the AFL Kansas City Brigade and is the home of the College Basketball Experience. Since its opening, the Sprint Center has hosted various sporting events, concerts, and family y shows includingg the Bigg 12 Conference Men’s Basketball Tournament, Garth Brooks, and Hannah Montana, among others. Arena: Sprint Center Contractor: Mortenson Construction Year Open/Renovated: 2007 Architect: HOK Sport, Ellerbe Becket, A Arena O Owner: Cit off Kansas City K Cit (AEG) City Management Term: 35 Years Management: AEG Total Cost: See Sources/Uses of Funds Concessionaire: Levy Restaurants Public Investment: See Sources/Uses of Funds Total Seating Capacity: 19,246 (Center Stage) P i t Investment: Private I t t S Sources/Uses See S /U off Funds F d L Luxury S it Suites: 72 Cost Overrun Responsibility: [Shared] Club Seats: 1,706 New Construction/Renovation: New Construction Controlled Parking: 64 (6,00 within 5-Minute Walk) Preliminary Draft – Subject to Revision 360 Architecture, A hit t R f l Architects Rafael A hit t Page 81 Appendix F – Arena Development Case Studies Sprint Center (Kansas City, Missouri) Sources of Funds City of Kansas City Original Budget Additional Investment Anschutz Entertainment Group Original Budget Additional Investment R di Rounding Sources of Funds - Total Uses of Funds Land Acquisition/Site Development Sales and Marketing Design and Professional Services Legal and Governmental Services Project Administration Arena Construction Systems and Equipment Permits, Testing, Fees, and Special Assessments Insurance and Transaction Costs Contingency i Uses of Funds - Total Preliminary Draft – Subject to Revision $222,900,000 $200,000,000 $22,900,000 $53,200,000 $50,000,000 $3,200,000 $40,103 $40 103 $276,140,103 $35,000,000 $35 000 000 $1,075,000 $13,085,557 $75,000 $4,190,061 $199,639,844 $10,149,220 $1,661,131 $475,980 $ $10,788,310 $276,140,103 Page 82 Appendix F – Arena Development Case Studies Evansville Arena ((Evansville,, Indiana)) A new arena in Evansville, Indiana is currently under construction. The new state-of-the-art arena is expected to host sporting events, concerts, exhibitions, and other events. The arena is expected to have a capacity of 11,000 11 000 and include 21 luxury suites/club suites, suites 92 loge seats, seats and 516 club seats. seats Construction costs have been estimated at $127.5 million. Financing for the arena is expected to primarily come from a food and beverage tax, riverboat (casino) revenue, and tax increment financing. Arena: Evansville Arena Contractor: Hunt Construction Year Open/Renovated: 2011 Architect: Populous Arena Owner: City of Evansville Management: To be Determined Total Cost: See Sources/Uses Schedule Concessionaire: Not Available Public Investment: See Sources/Uses Schedule Total Seating Capacity: 11,000 Private Investment: See Sources/Uses Schedule Luxury Suites: 21 Cost Overrun Responsibility: Public Sector Club Seats: 516 (Plus 92 Loge Seats) New Construction/Renovation: New Construction Controlled Parking: Not Available Preliminary Draft – Subject to Revision Page 83 Appendix F – Arena Development Case Studies Evansville Arena (Evansville, Indiana) Project Funding Evansville Arena is Expected to Cost Approximately $127.5 Million Evansville Redevelopment Authority to Issue Bonds and Act as Landlord Evansville Redevelopment Corporation will be Tenant Sources of Funding Include: – Food and Beverage Tax – Casino Aztar Riverboat » Gaming Revenue » Admissions Taxes » Lease Payments – The Downtown Development Area Tax Increment Financing District Preliminary Draft – Subject to Revision Page 84 Appendix F – Arena Development Case Studies Maverik Center (West ( Valley y City, y, Utah)) The Maverik Center, built in 1997, has seating for approximately 10,400, with expansion up to 12,000, and includes 40 luxury suites, 1,750 club seats, and 3,000 parking stalls. Of the 40 luxury suites, 20 are located on the club y suite level with the other 20 on the concourse level. The design g of the arena affords for the construction seat/luxury of an additional 12 luxury suites and approximately 500 additional club seats. The arena hosts the ECHL hockey Utah Grizzles, the Arena Football League Utah Blaze, concerts, and family shows, among others. The facility also was the host venue for the Ice Hockey Championships at the 2002 Olympic Winter Games. Arena: Maverik Center Contractor: Turner Construction Company Year Open/Renovated: 1997 Architect: HOK Sport+Venue+Event Arena Owner: West Valley City Management: WVE, Inc. (Utah Grizzlies Affiliate) Total Cost: See Sources/Uses Schedule Concessionaire: Not Available Public Investment: See Sources/Uses Schedule Total Seating Capacity: 10,400 (Expansion to 12,000) Private Investment: See Sources/Uses Schedule Luxury Suites: 40 Cost Overrun Responsibility: Public Sector Club Seats: 1,750 New Construction/Renovation: New Construction Controlled Parking: 3,000 Sources: Municipal Building Authority of West Valley City, West Valley City, industry research, and internal database. Preliminary Draft – Subject to Revision Page 85 Appendix F – Arena Development Case Studies Maverik Center (West Valley City, Utah) Sources of Funds Series 1996A Bond Proceeds Series 1996B Bond Proceeds City Contributions State Contributions Special Improvement District Bond Proceeds Redevelopment Agency Bond Proceeds Projected Interest Earnings on Construction Fund Total Sources of Funds $33,689,734 $7,150,000 $7,500,000 $1,900,000 $1,500,000 $5,825,000 $642,650 $58 207 384 $58,207,384 Uses of Funds Construction Contract Guaranteed Maximum Price Development Testing Site Work and Related Expenses Road Improvements Parking Lot Furniture, Fixtures, and Equipment Land Acquisition Debt Service Reserve Funds Capitalized Interest (1) Bond Insurance Premium Issuance Costs (2) Total Uses of Funds $37,786,372 $2,522,468 $1,261,145 $1,500,000 $1,500,000 $554,000 $4,259,316 $4,130,000 $ $2,794,256 $1,025,421 $874,405 $58,207,384 ( ) Interest capitalized (1) p through g November 1,, 1997. (2) Includes underwriters' discount, printing, mailing, and other miscellaneous costs and trustee, financial advisor, legal, and rating agency fees for the Series 1996A and 1996B Bonds. Sources: Municipal Building Authority of West Valley City and West Valley City. Preliminary Draft – Subject to Revision Page 86 Appendix F – Arena Development Case Studies Maverik Center (West Valley City, Utah) Repayment Sources Annual City Lease Payments Per-Ticket Per Ticket Business License Fee ($1.00) ($1 00) Per-Vehicle Business License Fee ($1.00) Parking Revenues Revenues Generated by y City’s y Existingg Hotel Business Licensingg Gross Revenue Fee Private Donations Funds Received from the Salt Lake Olympic Organizing Committee (SLOOC) Naming Rights Revenues (if any) Funds Contributed or Fees Waved by Salt Lake County or other Governmental Entities Funds Appropriated by the Utah State Legislature Any Fee, Tax, Charge, or Imposition Levied by the City on Tickets, Parking, Admission too oor Use oof thee Arena e a in Excess cess oof Cu Current e C Charges a ges Funds Generated by the Sale of Redevelopment Agency Bonds (Applied toward Land Acquisition Costs and Construction of Parking Facilities) Debt Service on Bond Net Proceeds d from f the h Naming i Rights i h $7,000,000 Payment from SLOOC Preliminary Draft – Subject to Revision Page 87 Appendix F – Arena Development Case Studies World Arena (Colorado ( Springs, p g , Colorado)) World Arena, located in Colorado Springs, Colorado, opened in 1998. The arena has a maximum seating capacity of approximately 9,400. There are no luxury suites at the facility, but there are approximately 298 club seats. seats World Arena is home to the Colorado College men men’ss hockey team, team family shows, concerts, and numerous other special events, among others. World Arena was partially funded by the El Pomar Foundation. Arena: World Arena Contractor: CTL| Thompson Year Open/Renovated: 1998 Architect: James W. Nakai & Associates PC Arena Owner: World Arena (Non-Profit) Management: World Arena (Non-Profit) Total Cost: See Sources/Uses Schedule Concessionaire: Centerplate Public Investment: See Sources/Uses Schedule Total Seating Capacity: 9,400 Private Investment: See Sources/Uses Schedule Luxury Suites: 0 Cost Overrun Responsibility: To Be Confirmed Club Seats: 298 New Construction/Renovation: New Construction Controlled Parking: Not Available Sources: El Pomar Foundation and World Arena. Preliminary Draft – Subject to Revision Page 88 Appendix F – Arena Development Case Studies World Arena (Colorado Springs, Colorado) Sources of Funds El Pomar Foundation City of Colorado Springs Local Businesses/Individuals Land Donation El Paso County Other Foundations Colorado College The Gazette Interest Earnings Individual Donation (Largest) School District “Loan” Arbitrage Sale of a Land Parcel Proceeds Operations Reserve Transferred to Construction Total Sources of Funds Project Funding Uses of Funds Ice Hall Land Site Preparation Furniture, Fixtures, and Equipment Building Offsite Improvements Road Drainage Arena Building Furniture, Fixtures, and Equipment Site-Work Land Miscellaneous Carry/Finance Administrative Start-Up Total Uses of Funds $31,000,000 $7,000,000 $6,500,000 $3,300,000 $3,000,000 $ , $1,500,000 , $1,500,000 $1,000,000 $750,000 $600,000 $450,000 $300,000 $200,000 $100,000 $57,200,000 $11,900,000 $1,100,000 $2,900,000 $200,000 $7,700,000 $4 500 000 $4,500,000 $3,500,000 $1,000,000 $38,700,000 $29,200,000 $1,700,000 $4,800,000 $3,000,000 $2,100,000 $ , , $1,200,000 $400,000 $500,000 $57,200,000 Industrial Revenue Bonds were Issued as Construction Loan, but Repaid Through Funding Sources Detailed Above Preliminary Draft – Subject to Revision Page 89 Appendix F – Arena Development Case Studies Bi-Lo Bi Lo Center (Greenville, South Carolina) The Bi-Lo Center located in Greenville, South Carolina opened in 1998. The facility has a maximum seating capacity of approximately 15,951, including 30 luxury suites, and 1,000 club seats. The Bi-Lo Center is home to the East Coast Hockey League (ECHL) Greenville Road Warriors and other athletic events, concerts, and family shows, among others. Th Bi-Lo The Bi L Center C t project j t was funded f d d by b a public/private bli / i t partnership t hi agreement. t The Th facility f ilit is i included i l d d as a case study t d because of its unique financing structure. Prior to the undertaking of the project, the City of Greenville (City) had been debating the development of a new arena/public assembly facility for reportedly 25 years. The Greenville Memorial Auditorium District (District) owned a site for a facility, owned and operated, at a loss, an existing, yet outdated venue, g The City y and business community y were both motivated and had accumulated over $1.0 million cash for a new building. by downtown development objectives, and were strong supporters of the arena project. The County of Greenville (County) was reportedly a reluctant partner. Arena: Bi-Lo Center Contractor: Flour Daniel, Inc Year Open/Renovated: 1998 Architect: Odell Associates and AMI Architects Arena Owner: Grenville Memorial Auditorium District Management: Centerplate Total Cost: See Sources/Uses Schedule Concessionaire: Centerplate Public Investment: See Sources/Uses Schedule Total Seating Capacity: 15,951 Private Investment: See Sources/Uses Schedule Luxury Suites: 30 Cost Overrun Responsibility: To Be Confirmed Club Seats: 1,000 New Construction/Renovation: New Construction Controlled Parking: Not Available Sources: Industry research and internal database.. Preliminary Draft – Subject to Revision Page 90 Appendix F – Arena Development Case Studies Bi-Lo Bi Lo Center (Greenville, South Carolina) Sources of Funds Series 1996A G.O. Bonds Series 1996B Accommodation Fee Bonds Series 1996C Taxable Project Revenue Bond Series 1996B Subordinated Bond Series 1996 Taxable Completion Bonds District Cash City Cash State Cash Accommodation Fee Collections Vendor Contribution Utility Cash Investment Income $12,000,000 $19,160,000 $19,390,000 $1,500,000 $2,300,000 $1,800,000 $650,000 $2 500 000 $2,500,000 $600,000 $1,600,000 $100,000 $2,260,000 Total Sources of Funds $63,860,000 Uses of Funds Project Funds (Construction) Capitalized Interest (Series 1996C) B d IInsurance (Series Bond (S i 1996B) Costs of Issuance Bond Underwriting Upfront and Capitalized LOC Costs $57,400,000 $2,750,000 $540 000 $540,000 $1,000,000 $760,000 $1,410,000 Total Uses of Funds $63 860 000 $63,860,000 Sources: Industry research and internal database.. Preliminary Draft – Subject to Revision Page 91 Appendix F – Arena Development Case Studies Bi-Lo o Ce Center e (G (Greenville, ee v e, Sou South C Carolina) o ) Project Funding Public Debt Secured byy Dedicated,, Unencumbered Property p y Tax Revenues and a New Accommodations Fee of 3.0% (2.3% Dedicated to Arena Debt Service and 0.7% Dedicated to Convention Center) Taxable Bond Debt is Serviced by Arena Gross Revenue Pledge, Secured by Facility Mortgage, Letter of Credit from Bank of America (Nations Bank), and Income (Not Debt) Guarantee from Facility Manager and Concessionaire Miscellaneous Tax-Exempt Status of Bonds was Achieved by: – Separating the Financing with Separate Structures (i.e., One an Asset Based and One a Contract Purchase Transaction); – Asset A t Based B d Structure St t was Supported S t d by b Project P j t Revenues, R S Secured d by b a Leasehold L h ld Mortgage and Letter of Credit, but was Taxable; and – Purchase Contract Entered into by the City and County with the District, was Secured by District Appropriations of Hotel Taxes and Bond Insurance, and was Tax-Exempt (AAA Bonds) Sources: Industry research and internal database.. Preliminary Draft – Subject to Revision Page 92 Appendix F – Arena Development Case Studies Save Mart Center (Fresno, California) The Save Mart Center (Center) is a multi-purpose event center located on the campus of California State University, Fresno (Fresno State). The Center opened in 2003 and includes approximately 16,500 seats, 32 luxury l suites it andd 2,000 2 000 club l b seats. t The Th Center C t hosts h t Fresno F St t athletic State thl ti events, t including i l di Fresno F State men’s and women’s basketball, and serves the San Joaquin Valley region as a site for other athletic, cultural, and entertainment events. Arena: Save Mart Center Contractor: Clark Construction Group, Inc Year Open/Renovated: 2003 Architect: Sink Combs Dethlefs Arena Owner: California State University, Fresno Management: SMG Total Cost: See Sources/Uses Schedule Concessionaire: Ovations Public Investment: See Sources/Uses Schedule Total Seating Capacity: 16,500 Private Investment: See Sources/Uses Schedule Luxury Suites: 32 Cost Overrun Responsibility: To Be Confirmed Club Seats: 2,000 New Construction/Renovation: New Construction Controlled Parking: Not Available Sources: California State University, Fresno. Preliminary Draft – Subject to Revision Page 93 Appendix F – Arena Development Case Studies Save Mart Center (Fresno, California) Sources of Funds Senior Series 2002 Bonds Senior Series 2002 Bonds Net Original Issue Discount S b di Subordinate S Series i 2002 B Bonds d Subordinate Series 2002 Bonds Original Issue Discount Seat Licenses, Sponsorships and Naming Rights, and Private Fundraising – (1) Interest Earnings Accrued Interest $69,475,000 ($334,878) $5 000 000 $5,000,000 ($180,687) $36,809,706 $2,075,345 $349,617 Total Sources of Funds Uses of Funds Construction Costs Guaranteed Maximum Price Architect Fees Project Management Owner Contingency Owner Development Costs Furniture, Fixtures & Equipment Miscellaneous Capitalized Interest – (2) Debt Service Reserve Accounts Cost of Issuance – (3) Total Uses of Funds $113 194 103 $113,194,103 $95,612,000 $85,965,000 $2,240,000 $1 227 000 $1,227,000 $2,000,000 $1,000,000 $2,000,000 $1,180,000 $9,041,823 $6,616,867 $1,923,413 $113,194,103 (1) Projected revenues. ( ) Includes capitalized (2) p interest to February y 15,, 2004 and accrued interest. (3) Includes the underwriter’s discount, legal fees, and certain other fees, costs, and expenses Sources: California State University, Fresno. Preliminary Draft – Subject to Revision Page 94 Appendix F – Arena Development Case Studies Save Mart Center (Fresno, California) Project Funding Event E t Revenues R are Pledged Pl d d to t Secure S P Payments t off Bonds B d – Arena Income – Ground Lease ($750,000 Annually) – Bulldog Foundation MOU (Payment not to Exceed $1,375,000 Annually) – Student Seating Purchase Agreement (Payment of $300,000 Annually for 2,000 Seats) Sources: Industry research and internal database.. Preliminary Draft – Subject to Revision Page 95 Confidential APPENDIX G SPORTSQUEST DEVELOPMENT Preliminary Draft – Subject to Revision Page 96 Appendix G – SportsQuest Development SportsQuest p Q Overview SportsQuest Development Occurring in Stages (East and West Campus) $250 Million, Million 250 Acre Mixed Use Sports Complex in Chesterfield County, County VA Intersection of Route 288 and Powhite Parkway East Campus 17 Soccer Fields 18 Hole Disc Golf Course 5k Cross Country Running Trail Festival Park – 8 Acres of Meeting and Event Facilities 2,500 Seat Outdoor Amphitheatre (18 Luxury Suites) 20 000 Sq. 20,000 S Ft. Ft Food F d Court C t Parking Lots 9 of 17 Soccer Fields, Festival Park and Parking Lots Were Scheduled to Open Labor Day Weekend 2010 Preliminary Draft – Subject to Revision Page 97 Appendix G – SportsQuest Development SportsQuest p Q Overview (Continued) ( ) West Campus Velodrome Aquatics Center Fitness Center Ice Rink Championship Field & Track Field House Medical Building Restaurant & Retail Space Hotel 6,500 Seat Arena (Targeting ECHL Team) West W t Campus C I t d d Open Intended O i 2012 in Preliminary Draft – Subject to Revision Page 98 Appendix G – SportsQuest Development SportsQuest p Q Overview (Continued) ( ) Public Financing Overview (To Be Confirmed) $4 $4.33 Million Committed from County to Date – 20 Year Lease of 9 Soccer Fields, a Gym and a Senior Center » Gym and Senior Center to Open in 2013 County and State Had Approved $30 Million of Federal Stimulus Bonds – Bonds Were Originally Scheduled to Be Issued by October 2010 Incremental Public Funding Based on Performance – By 2013, Sports Quest Must Have 400 Employees and Have Invested More Than $100 Million into the Project » If Milestones are Reached, the County Will Provide a Grant Equal to Five Consecutive ea s oof Property ope y aandd Sa Sales es Taxes a es Years Preliminary Draft – Subject to Revision Page 99 Appendix G – SportsQuest Development SportsQuest p Q Overview – Site & Facilities Preliminary Draft – Subject to Revision Page 100 Confidential LIMITING CONDITIONS AND ASSUMPTIONS Preliminary Draft – Subject to Revision Page 101 Limiting Conditions and Assumptions This analysis is subject to our contractual terms, as well as the following limiting conditions and assumptions: The analysis has been prepared for internal decision making purposes of the Client only and shall not be used for any other purposes without the prior written permission of Barrett Sports Group, LLC. The analysis includes findings and recommendations; however, all decisions in connection with the implementation of such findings and recommendations shall be Client’s responsibility. Ownership and management of the arena are assumed to be in competent and responsible hands. hands Ownership and management can materially impact the findings of this analysis. Any estimates of historical or future prices, revenues, rents, expenses, occupancy, net operating income, mortgage debt service, capital outlays, cash flows, inflation, capitalization rates, yield rates or interest rates are intended solely for analytical purposes and are not to be construed as predictions of the analysts. They represent only the judgment of the authors based on information provided by operators and owners active in the market place, and their accuracy is in no way guaranteed. d Our work has been based in part on review and analysis of information provided by unrelated sources which are believed accurate, but cannot be assured to be accurate. No audit or other verification has been completed. Current and anticipated market conditions are influenced by a large number of external factors. We have not knowingly withheld any pertinent facts, but we do not guarantee that we have knowledge of all factors which might influence the operating potential of the facility. Due to rapid changes in the external factors, the actual results may vary significantly from estimates presented in this report. The analysts reserve the right to make such adjustments to the analyses, opinions, and conclusions set forth in this report as may be required by consideration of additional data or more reliable data which may become available. The analysis is intended to be read and used as a whole and not in parts. Separation of any section or page from the main body of the report is expressly forbidden and invalidates the analysis. Possession of the analysis does not carry with it the right of publication. It shall be used for its intended purpose only and by the parties to whom it is addressed. Other parties should not rely on the findings of this report for any purpose and should perform their own due diligence. Our performance of the tasks completed does not constitute an opinion of value or appraisal, or a projection of financial performance or audit of the facility in accordance with generally accepted audit standards. Estimates of value (ranges) have been prepared to illustrate current and possible future market conditions. The analysis shall not be used in any matters pertaining to any financing, or real estate or other securities offering, registration, or exemption with any state or with the federal Securities and Exchange Commission. No liability is assumed for matters which are legal or environmental in nature. Preliminary Draft – Subject to Revision Page 102