Mesa County Fairgrounds ‐ Master Plan Presentation of Findings December 10, 2012 December 10, 2012 December 10, 2012
Master Plan Evolved from Several Research Initiatives Over the Last Five Years 2010 2010 Steering 2007 Markin 2009 2012 Committee Study: Internal Crossroads/ Formed and Formed and Study: Study: Populous Populous Business Focus Group Plan The Big Ideas Master Plan Meetings Held 1
Potential Development Concepts Regional Equestrian & Livestock Livestock Facility Mesa County Fairgrounds BMX/ Extreme Expo/ Event Themes/ Sports Center p Facility y C Courses of f Action Recreational Facility 2
Project Team Crossroads Consulting Services g Crossroads is a market leader in providing advisory and development planning services to public assembly facilities development planning services to public assembly facilities P Populous l Populous is the world’s leading design firm dedicated exclusively to creating environments that draw people and communities together for unforgettable experiences 3
Work Plan Served as the Basis of the Master Plan Multiple l i l Work Existing Market Business Sessions Facilities Analysis y Plan with Diverse with Diverse Assessment Assessment Stakeholders 4
Several Factors Influence the Recommended Program and Prioritization of Master Plan Elements Operating Objectives/ Marketability/ Marketability/ Functionality Business Model/ Physical Program/ Return on Investment Design/Cost 5
Market Analysis Assesses Potential Demand, Defines Program, and Drives the Economic Analysis and Business Plan Market Attributes Input from Input from Historical Demand Operations Generators Competitive/ Comparable Industry Trends Facilities 6
Master Plan is Segregated by Geographic Area and Major Activity 7
P Project Cost Estimate: $6.8 M j t C t E ti t $6 8 M 8
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P Project Cost Estimate: $6.8 M j t C t E ti t $6 8 M 10
Project Cost Estimate: $7.1 M P j C E i $7 1 M 11
Project Cost Estimate: $39.7 M P j C E i $39 7 M 12
Business Plan Provides a Guideline for Future Operations Economic Impacts Impact to Impact to Potential Usage/ ‐ Spending Financial Event Activity ‐ Jobs Operations ‐ Earnings Opportunities to Tax Revenues Recommended Positively Impact Changes to ‐ Sales and Use Tax Construction and Construction and O Operating i ‐ Lodging Tax Ongoing Strategies ‐ Income Tax Operating Costs 13
Estimated Range of Incremental Usage/Event Activity at the Fairgrounds in a Stabilized Year Option Events Usage Days Attendee Days Master Plan West 7 ‐ 11 10 ‐ 16 15,000 – 25,500 Master Plan East Master Plan East 17 ‐ 20 17 20 45 ‐ 51 45 51 24 000 – 26 600 24,000 26,600 Master Plan 77 ‐ 93 171 ‐ 205 153,400 – 189,800 Complete Complete • The Fairgrounds is typically used more than 295 days per year to host nearly 500 activities that attract 100 000 attendees including host nearly 500 activities that attract 100,000 attendees including the Fair. 14
Estimated Impact to Fairgrounds Financial Operations in a Stabilized Year Three ‐ Master Plan Master Plan Master Plan Category Year Avg West Only East Only Complete Operating Revenues $125,000 $164,500 $433,000 $1,191,000 Operating Expenses $375,000 $396,500 $535,500 $1,422,500 O Operating Subsidy i S b id ($250,000) $ ($232,000) $ ($102,500) $ ($231,500) $ Change in $ g $18,000 $ 8,000 $147,500 $ ,500 $18,500 $ 8,500 Change in % ‐ 7% ‐ 59% ‐ 7% Note: Master Plan amounts represent midpoint of the range. 15
Estimated Economic Impacts Generated From Ongoing Fairgrounds Operations in a Stabilized Year $12.0 250 Direct Spending Total Jobs 215 ns) $ in million $10 0 $10.0 200 $8.0 Tot 150 Spending ( al Jobs $6.0 90 $10.1 100 $4.0 60 50 50 Direct S 50 $4.4 $2.0 $2.9 $2.4 $0.0 0 Historical Avg MP West MP East MP Complete Note: Master Plan amounts represent midpoint of the range Note: Master Plan amounts represent midpoint of the range. 16
Estimated Tax Revenues Generated From Ongoing Fairgrounds Operations in a Stabilized Year Three ‐ Year Master Plan Master Plan Master Plan Jurisdiction Average West East Complete Mesa County $47,000 $55,000 $84,000 $182,000 City of Grand Junction $94,000 $105,500 $164,500 $334,000 State of Colorado State of Colorado $94 000 $94,000 $111 000 $111,000 $168,500 $168 500 $374,500 $374 500 Grand Total $235,000 $271,500 $417,000 $890,500 Note: Master Plan amounts represent midpoint of the range. Tax revenues include sales and use tax, lodging tax, and income tax. • 17
Business Plan Provides a Guideline for Various Policy ‐ Related Issues and Operating Strategies Recommended Potential Revenue Management Changes to Sources That Could Alternatives Operating Strategies Operating Strategies Impact Cost Impact Cost • Naming Rights • Mission Statement • Governmental • Concessionaire Rights Management • Booking Policy/ • Pouring Rights P i Ri ht Prioritization • Independent • Long ‐ Term Advertising/ Authority • Marketing Efforts Sponsorship Sales • Not ‐ for ‐ Profit • Rate Structure Rate Structure • Sale/Lease Retail • Sale/Lease Retail • Third Party Parcels • Staffing Levels Management • Private Sector • Performance Investment Investment Measures Measures • Grants 18
Mesa County Fairgrounds Master Plan Summary Driving forces of the master plan • – Accommodate diverse community usage Accommodate di erse comm nit sage – Minimize the financial operating subsidy – Maximize economic/fiscal impacts to the community Market demand exists for improvements/enhancements to the Market demand exists for improvements/enhancements to the • • Fairgrounds that can accomplish the above objectives This project allows local government to positively impact the economy This project allows local government to positively impact the economy • • through its financial investment 19
Why Now? Master Plan • – Community Feedback and User Consensus – Market Demand – Business Plan Committed CIP Funds • Low Construction Costs Low Construction Costs • • Economic Impact and Jobs • Potential Funding Partners • Grants Opportunities to Leverage County Dollars • 20
Questions and Discussion 21
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