global entertainment corporation regional event center for chelan and douglas counties global...
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GLOBAL ENTERTAINMENT CORPORATION
REGIONAL EVENT CENTER FOR CHELAN AND DOUGLAS COUNTIES
REGIONAL EVENT CENTER FOR CHELAN AND DOUGLAS COUNTIES
GLOBAL ENTERTAINMENT CORPORATIONGLOBAL ENTERTAINMENT CORPORATION
December 13, 2005
GLOBAL ENTERTAINMENT CORPORATION
SITE PLANSITE PLAN
GLOBAL ENTERTAINMENT CORPORATION
EVENT LEVELEVENT LEVEL
GLOBAL ENTERTAINMENT CORPORATION
SUITE LEVELSUITE LEVEL
GLOBAL ENTERTAINMENT CORPORATION
EXTERIOR RENDERINGEXTERIOR RENDERING
GLOBAL ENTERTAINMENT CORPORATION
PUBLIC FACILITY DISTRICT PUBLIC FACILITY DISTRICT
• What Is It?• Why Is It Formed?• How Are They Formed?• What Powers Does It Have?• How Are They Governed?• What Type Of Projects Can Be Constructed And
Operated?• Critical Dates• What Resources Does It Have?
• What Is It?• Why Is It Formed?• How Are They Formed?• What Powers Does It Have?• How Are They Governed?• What Type Of Projects Can Be Constructed And
Operated?• Critical Dates• What Resources Does It Have?
GLOBAL ENTERTAINMENT CORPORATION
PUBLIC FACILITY DISTRICT PUBLIC FACILITY DISTRICT
• Will Not Limit The Bonding Capacity Of Any City Or County
• Will Not Lower The Bond Rating Of Any City Or County
• Will Require The City Of Wenatchee To Be The Originator Of The PFD – May Be Required To Provide Credit Support
• Debt Service Reserve Fund Will Be In Place Prior To Opening Of The Event Center
• Annual Capital Repair And Replacement Fund Will Be Reserved For Each Year Of Operation
– Obligate Property To The Event Center Development– Transfer Existing Facility To The New Event Center
Development
• Will Not Limit The Bonding Capacity Of Any City Or County
• Will Not Lower The Bond Rating Of Any City Or County
• Will Require The City Of Wenatchee To Be The Originator Of The PFD – May Be Required To Provide Credit Support
• Debt Service Reserve Fund Will Be In Place Prior To Opening Of The Event Center
• Annual Capital Repair And Replacement Fund Will Be Reserved For Each Year Of Operation
– Obligate Property To The Event Center Development– Transfer Existing Facility To The New Event Center
Development
GLOBAL ENTERTAINMENT CORPORATION
REGIONAL EVENT CENTER FINANCING SOURCESREGIONAL EVENT CENTER FINANCING SOURCES
MPEC Sales Tax, 75, 3%
MPEC Net Operating
Income, 920, 40%
PFD 10% (parking), 60,
3%
PFD 5% (ticketing), 440, 18%
LOTS, 200, 8%PFD
Douglas, 250, 10%
PFD Chelan, 440, 18%
$ 920 MPEC Net Operating Income
75 MPEC Sales Tax
440 PFD Chelan
250 PFD Douglas
200 LOTS
440 PFD 5% (Event Ticketing)
60 PFD 10% (Event Parking)
$ 2.385 Total Available for Debt Service
Annual Debt Service = $2.200
(000s)
GLOBAL ENTERTAINMENT CORPORATION
BENEFITS TO THE COMMUNITYBENEFITS TO THE COMMUNITY
• Job creation: 50 FTE plus 200 part time employees• Job training: Wenatchee Valley College is committed to
providing a facility maintenance technician degreed program where work-study would take place at our center
• Tourism impact: Other similar facilities have visitor numbers of over 500,000 annually based on the events calendar provided by the management company
• Support of local sports: The tournament potential and support of local training opportunities is immense: hockey, figure skating, high school regional and statewide tournament, college regional and statewide tournaments
• Potential impact: Training facility for the 2010 Olympics in Vancouver BC – Highway 97 Corridor connection into Canada
• Job creation: 50 FTE plus 200 part time employees• Job training: Wenatchee Valley College is committed to
providing a facility maintenance technician degreed program where work-study would take place at our center
• Tourism impact: Other similar facilities have visitor numbers of over 500,000 annually based on the events calendar provided by the management company
• Support of local sports: The tournament potential and support of local training opportunities is immense: hockey, figure skating, high school regional and statewide tournament, college regional and statewide tournaments
• Potential impact: Training facility for the 2010 Olympics in Vancouver BC – Highway 97 Corridor connection into Canada
GLOBAL ENTERTAINMENT CORPORATION
“No Action” Risk“No Action” Risk
• Loss Of Future Revenues And Growth• Loss Of Quality Of Life Project For The Entire
Community
• Loss Of Future Revenues And Growth• Loss Of Quality Of Life Project For The Entire
Community
GLOBAL ENTERTAINMENT CORPORATION
NEXT STEPSNEXT STEPS
GLOBAL ENTERTAINMENT CORPORATION
REGIONAL EVENT CENTER FOR CHELAN AND DOUGLAS COUNTIES
REGIONAL EVENT CENTER FOR CHELAN AND DOUGLAS COUNTIES
GLOBAL ENTERTAINMENT CORPORATIONGLOBAL ENTERTAINMENT CORPORATION
December 13, 2005