Benderson Park Presentation 071410

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Benderson Park Presentation 071410
x
Aquatic and Nature Center
The Design Team:
High School, College and Elite Athletes, Coaches and Rowing Moms and Dads
The Meadows, Fruitville 210 Alliance and the Surrounding Community
Tunnell‐Spangler‐Walsh & Associates community design & architecture
The Benderson Development Company Sarasota County Government
Presentation Outline:
I.
II.
III.
IV.
V.
VI.
VII.
Evolution of the Plan
The Economic Impact
Development of the World Class Master Rowing Concept Plan
Personal Testimonies by the World Class Rowing Team
Video Presentation of the World Class Rowing Venue
Financials
Questions and Answers
The Evolution of the Plan
 The Development Order Requirement
 Meeting the Sarasota Rowers
 The 2008 Concept Plan
N. HONORE AVE
THE MEADOWS
FRUITVILLE ROAD
ROWING VENUE SITE
N. CATTLEMEN ROAD
LOCATION
I‐75
UNIVERSITY PARKWAY
N
2008 Park Concept Plan • Master Planned Facility
• 2000 meter (FISA)
• 8 buoyed FISA lanes
• Permanent infrastructure to support regattas
• No water current or other boating conflicts
• Straight shore line
• State of the art starting and finishing lines
• Warm up lane
• State of the art boathouse
• Good accessibility
• Well protected and fair lanes
• Good Spectator Observation
• Good access for spectators from start to finish line.
• Pedestrian, rower, coach friendly design
• Hotel and restaurant support • Located within a Community Park
• Community Support
• Direct Flights to Venue
• Organized Foundation and LOC
• Public‐Private Partnership
The Evolution of the Plan
Development Order Requirement
Meeting the Sarasota Rowers
2008 Concept Plan
2009 Regattas
National and International Due Diligence Study
2010 Regattas
World Class Master Concept Plan
2010 World Class Concept Master Park Plan
•Master Planned Facility
•2000 meter (FISA)
•8 buoyed FISA lanes
•Permanent Infrastructure to support regattas
•No water current or other boating conflicts
•Straight shore line
•State of the art starting and finishing lines
•Warm up lane
•State of the art boathouse
•Good accessibility
•Well protected and fair lanes
•Good Spectator Observation
•Good access for spectators from start to finish line.
•Pedestrian, rower, coach friendly design
•Hotel and restaurant support •Located within a Community Park
•Community Support
•Direct Flights to Venue
•Organized Foundation and LOC
•Public‐Private Partnership
2010 Regatta Season
Economic Impact
Jason Puckett
Sports Manager
Sarasota Convention & Visitors Bureau
Jason Puckett – 2010 Regatta Season
February 27 ‐ Sarasota Invitational • Total Attendees = 1,575
• Total Room Nights = 205
• Average Daily Rate = $135.00
•Economic Impact = $223,478
April 9 – 10 – Florida Intercollegiate Rowing Assoc. • Total Attendees = 2,590
• Total Room Nights = 256
• Average Daily Rate = $119.00
•Economic Impact = $624, 060
Jason Puckett – 2010 Regatta Season
April 23 – 25 ‐ Florida Scholastic Rowing Assoc. •Total Attendees = 14,682
•Total Room Nights = 1,610
•Average Daily Rate = $95.00
•Economic Impact = $1,979,615
May 7 – 9 – Southeast Youth Regional's
•Total Attendees = 11,454
•Room Nights =1,091
•Average Daily Rate = $90.00
•Economic Impact = $1,728,168
Jason Puckett – 2010 Regatta Season
2010 Regatta Season Recap
Number of Events = 4
Total Attendees = 30,392 Total Unique Visitors = 8,290
Total Room Nights = 3,162
Economic Impact of 2010 Regatta Season = $4,555,321
Potential Annual Economic Impact for Rowing Only = $25,500,000
‐ Based upon Regatta and Training Attendance figures on upcoming slides
Cash Flow Analysis of
Aquatic Nature Center
Dr. Philip Porter
Professor of Economics
University of South Florida
Annualized Capital Cost: Sarasota Rowing Facility
Annualized Capital Cost: Sarasota Rowing Facility
• County Investment = $25 million
Annualized Capital Cost: Sarasota Rowing Facility
• County Investment = $25 million
• Sarasota Municipal bond rates blending 2, 5, 7, 10, 15 and 20 year bonds plus commission charges to fund the project over 20 years. Annualized Capital Cost: Sarasota Rowing Facility
• County Investment = $25 million
• Sarasota Municipal bond rates blending 2, 5, 7, 10, 15 and 20 year bonds plus commission charges to fund the project over 20 years. • Estimated annual interest cost = $750,000.
Estimated Visitor Spending
Estimated Visitor Spending
• 10 Regattas per year @ 10,000 out of region attendee days per regatta.
– Hotel expenditures @ $50 per attendee day (double occupancy) = $5,000,000.
– Non‐hotel expenditures @ $50 per attendee day =$5,000,000
Estimated Visitor Spending
• 10 Regattas per year @ 10,000 out of region attendee days per regatta.
– Hotel expenditures @ $50 per attendee day (double occupancy) = $5,000,000.
– Non‐hotel expenditures @ $50 per attendee day =$5,000,000
• Training: 40 teams @ 100 members for 1 week.
– Hotel expenditures @ $50 per attendee day (double occupancy) = $1,400,000.
– Non‐hotel expenditures @ $50 per attendee day =$1,400,000
Estimated Visitor Spending (continued)
• Other events will attract out of region visitors. – Corporate rowing and adaptive rowing events (100 visitor nights per event)
– Cross country running events (200 visitor nights per event)
– 5‐K Events (600 visitor nights per event)
– Weddings (25 visitor nights per event)
– Multi‐Purpose Grandstand Events
– Canoe and Kayak Races
– Dragon Boats (1200 visitor nights per event)
Estimated Visitor Spending (continued)
• Other events will attract out of region visitors. – Corporate rowing and adaptive rowing events (100 visitor nights per event)
– Cross country running events (200 visitor nights per event)
– 5‐K Events (600 visitor nights per event)
– Weddings (25 visitor nights per event)
– Multi‐Purpose Grandstand Events
– Canoe and Kayak Races
– Dragon Boats (1200 visitor nights per event)
• Collectively these events would generate more than 15,000 out of region visitor days.
– Hotel expenditures @ $50 per attendee day (double occupancy) = $750,000.
– Non‐hotel expenditures @ $50 per attendee day =$750,000
Annual New Regional Spending
Generated by the Operation of the
Sarasota Rowing Facility
Annual New Regional Spending
Generated by the Operation of the
Sarasota Rowing Facility
• Hotel rooms $7,150,000
• Other taxable spending $7,150,000
Tax Rates
• Hotel/resort tax rate = 5%
• Local options tax rate = 1%
• Florida Department of Revenue direct disbursement rate = .09653 x 6% = .57918%
• Indirect state government regional expenditures rate = 3%
Cash Flow Analysis Without Multiplier
With Multiplier = 1.57
• Tax revenue from hotels = $470,411
• Tax revenue from other spending
= $112,911
• Direct tax revenues = $583,322
• Indirect state expenditures
= $429,000
• Total = $1,012,322
• Tax revenue from hotels = $470,411
• Tax revenue from other spending
= $177,271
• Direct tax revenues = $647,682
• Indirect state expenditures
= $673,530
• Total = $1,321,212
Further Considerations
• A multiplier might be appropriate as the project generates a steady stream of visitor spending over a year; year in and year out.
• There is no appreciable leakage from direct visitor spending created by local spending at the venue. All ticket sales and advertisement at the site remain local and generate local employment and spending.
• Inflation, facility growth through retained earnings, savings of park maintenance costs all add to the projected cash flows from the facility.
Operating Costs
• The Sarasota rowing facility is expected to cover its operating costs, including maintenance/depreciation from sales of its programs and services. • Ample evidence exists from programs around the United States that a facility of this nature can be self sustaining.
• There is significant testimony from potential users that the facility, once completed, will be in great demand.
• The creation of an independent Non Profit Organization is underway.
Intangible Community Benefits
• A world‐class rowing facility and a versatile community center position the community to take advantage of a rapidly growing popular sport.
• Community name recognition.
• Youth programs with scholarships for less privileged youth.
• Club programs for all ages.
• Adaptive rowing programs for the handicapped.
• Developing and popularizing of an existing but little used community park.
Economic Summary
• Once established, the operations of this facility will be self‐sustaining. • Capital subsidies from the hotel/resort tax will be restored to government by the attraction of new visitors’ spending for hotels, food, and retail items purchased in the region. • Citizens will experience no sacrifice of existing government services to fund the facility.
Tom Walsh, BLA. RLA
Tunnell‐Spangler‐Walsh
Park and Venue Designer
N
THE MEADOWS
LAS PALMAS
FUTURE EXTENSION OF NORTH CATTLEMEN ROAD
SITE
I‐75
N
SITE
N
ORIGINAL 1500 M COURSE
NEW 2000 M COURSE
ROWING FACILITIES
VENUE PROGRAM: ROWING
VENUE
N
WATER
GARDEN
ORNAMENTAL GRASS GARDEN
VENUE PROGRAM:
PARKS
NATURAL
PLAYGROUND
BUTTERFLY
GARDEN
FITNESS CENTERS
Bruce Smith Executive Director, Community Rowing Inc., Largest Rowing Club in the World
Coach, US Rowing Senior National Team, 2004 ‐ present
Founder, Lincoln Park Juniors Rowing Program, Chicago, IL
Developer of two successful boathouse construction projects, Chicago, IL
Chip Davis
Founder and Publisher of Rowing News magazine
World's Leading Rowing Publication
Rowing journalist of the year and USRowing service to rowing award winner
Former high school and college champion; Dartmouth sports hall of fame Grew up in rowing, son of legendary coach Rich Davis
Travels around the world to cover rowing events
John Gartin
Head Coach Nova Southeastern University Women's Rowing program (7 years)
2009 NCAA Championship, Varsity 4+
6 NCAA Championship Appearances
3 Sunshine State Conference Championships
7 All‐Americans
17 Sunshine State All‐Conference Rowers NSU Undergraduate Student of the Year, 2006
Board Member, Southern Intercollegiate Rowing Association
Chair, NCAA Division II National Selection Committee Intercollegiate Bob Whitford
Rowing Director/Facilities Manager
Sacramento State Aquatic Center, Lake Natoma, CA A CAL Boating "Boating Instruction Safety Center"
2‐time US National Team Coach ‐ Sculling
2 ‐ Member of USRowing Board of Directors
Sailing, Powerboat, Wakeboard/Water ski, Paddling/Standup Paddling Trailer Driving & Operations
Lifeguard & Weightlifting Instructor
Precision Racing ‐ Design/Build Rowing, Kayak/Canoe and Open Water Swim Courses
WHITCAT ‐ Safety Launches
=
John Lehnen
Past President, Canadian Henley Rowing Corporation
Co‐chair, 1999 FISA World Rowing Championships
2010 FISA World Masters Regatta
Manufactured rowing shells and related equipment
Past Governor, St. Catharines General Hospital
Past President, The Walker Family YMCA
VP Marketing, Rowing Canada Aviron
Mechanical Engineer
Jason Read (J.R.)
2004 Olympic Champion/2008 Olympian; World Record Holder
A member of 10 National Teams including 2 Olympic Teams; currently training for 2012 London Olympic Games USRowing's 'Man of the Year' award twice: 2001 and 2004
Current Under‐23 and HS Rowing and Swim coach Youngest Rescue/EMS Chief in the country at age 21; FF/EMT since age 16
Nature and Aquatics Center
World Class Rowing Video Presentation by Inception Creative and Max Wave Media
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Aquatic and Nature Center
Phase I Construction Cost and Timeline
FY 2012
Majors Task
Majors Task
When
When
Estimated Cost
Estimated Cost
Activities
Activities
Dredge and Fill Dredge and Fill 10/2011‐12
10/2011‐12
7.5‐8.5 Million
7.5‐8.5 Million
HS, College
HS, College
Community Park
Community Park
Phase II Construction Cost and Timeline
FY 2013
Major Tasks
Major Tasks
When
When
Estimated Cost
Estimated Cost
Activities
Activities
Hardscape,
Hardscape,
Landscape and
Landscape and
Park Amenities
Park Amenities
10/2012‐13
10/2012‐13
9‐11 Million
9‐11 Million
HS,FIRA,NCAA, TRN
HS,FIRA,NCAA, TRN
Community Park
Community Park
Phase IIIConstruction Cost and Timeline
FY 2014
Major Tasks
Major Tasks
When
When
Estimated Cost
Estimated Cost
Activities
Activities
Boathouse
Boathouse
FISA Towers
FISA Towers
Grandstands
Grandstands
10/2013‐14
10/2013‐14
9‐10 Million
9‐10 Million
HS,FIRA,NCAA, TRN
HS,FIRA,NCAA, TRN
FISA, Community Park
FISA, Community Park
Community Rowing
Community Rowing