Panama City Beach Special Events Center

Transcription

1 Panama Cty Beach Specal Events Center Panama Cty Beach, Florda Faclty Analyss December 7, 2015

2 Panama Cty Beach Specal Events Center Panama Cty Beach, Florda Executve Summary

3 3 Panama Cty Beach Specal Events Center Panama Cty Beach, Florda Executve Summary Determnng The Need For A Publc Assembly Faclty n Bay County The purpose of ths report s to gauge the potental market for a mult-purpose specal events center to be developed n Panama Cty Beach, Florda. Our report begns wth no preconceved deas as to ether the vablty of ths market or the potental sze and character of the venue(s). We do not address any specf c locatons for the prospectve venue, only that the faclty be located on property wth the followng attrbutes: Easly accessble to hotels and condomnums. Easly accessble to major local and regonal roadways. Located wthn easy access to local and regonal event patrons. Land large enough to dentfy the recommended ndustry standard number of parkng spaces dedcated to the venue or reasonably avalable for use durng events. Ste does not requre extensve or expensve remedaton measures. Ste can be reasonably obtaned at a prce and terms wthn the economc parameters of the project. To prepare ths report, our team has met and/or spoken wth more than twenty producers and promoters who regularly host events n the regon between Jacksonvlle and Moble. A complete lstng of these professonals along wth ther ntervew notes s found later n ths report. Our report examnes the varous types of events that could be hosted n a new Panama Cty Beach Specal Events Center, focusng on two basc categores: 1. Economc Impact Events One of the most sgnf cant reasons for ths report to be commssoned s to study events that wll create sgnf cant mpact for the Panama Cty Beach hosptalty ndustry and the surroundng communty. Hstorcally, ths ncludes amateur sports compettons such as cheerleadng, volleyball, gymnastcs, volleyball, pckle ball, basketball and other Olympc sports events. Panama Cty Beach has already made substantal nvestments n the venues and marketng efforts necessary to host outdoor amateur sports softball, baseball, soccer, etc. By all accounts, these efforts have been qute successful, and the next logcal busness move s to develop venues capable of hostng ndoor sports compettons. Whle these events are known to generate large amounts of spendng n hotels, restaurants, retal, etc., they do not hstorcally generate substantal drect revenues for the venues themselves. 2. Tourng Arena Events Events Centers, when desgned correctly, are also capable of hostng many tourng tcketed events such as concerts, famly shows (Rnglng Brothers Crcus, Harlem Globetrotters, Dsney, Sesame Street, etc.), Relgous (Joel Osteen, Joyce Meyer) Indoor Motorsports, Professonal Bull Rdng and major professonal pre-season events. These events hstorcally are very prof table for venues as they generate substantal revenues from rent, parkng, food and beverage sales, tcket charges and VIP/Hosptalty optons. However, these types of shows are not known for generatng sgnf cant hotel stays, as they are usually one nght events and rely on regonal audences for ther tcket purchases. Thousand

4 4 Panama Cty Beach Specal Events Center Panama Cty Beach, Florda 3. Expo Center/Trade Shows/Consumer Shows The entre Panhandle of Florda s wthout a modern venue capable of hostng moderate to large expo and exhbton events. There s not a faclty west of Jacksonvlle that has more than 40,000 square feet of exhbt space avalable to host consumer shows, trade shows and conferences/exhbtons. At the current tme, the only exhbton venues n the area are the conference meetng spaces offered by the Edgewater, Boardwalk and Bay Pont resorts. None of these offer more than 35,000 feet of combned meetng space. The Emerald Coast Conventon Center s only slghtly larger. After speakng wth varous professonals n the trade show/consumer show ndustry, we beleve the market could support at least 3-5 annual events such as a Boat and Fshng Show, Home and Garden Show and a Women s Expo. These events are mult-day productons and wll generate at least 15 event days for the new center. In addton, there appears to be a market for small to medum szed state assocatons to book conferences and trade shows n the Northwest Florda regon. A venue of the sze recommended n ths report should be able to attract such events on an annual bass. The key for a successful events center s to create the proper balance between economc mpact events and the tourng one-nght events. 4. Fnancal Balance The key to a successful events center s to create the proper balance between economc mpact events and the tourng onenght events. When acheved, the venue wll maxmze return to the communty whle operatng the venue at a break even or prof table annual budget. Our report focuses on: Regonal and local exstng or planned event venues that may compete wth the Panama Cty Beach faclty for amateur sports tournaments, collegate sports, professonal sports, famly shows, concerts, festvals, consumer shows, local banquets and functons, conferences and trade shows. We have determned that the regon most relatve to ths market report extends west to Moble, east to Tallahassee and north to Dothan. We have vsted all relevant venues wthn ths regon. Overall summary of local and regonal hosptalty assets venues, hotel/condomnum nventory, transportaton optons. The key to a successful specal events center s to create the proper balance between economc mpact events and tourng one-nght events. Intervews wth natonal and regonal event promoters and producers that are lkely canddates to brng events to Panama Cty Beach should ths venue be developed. Intervews wth event producers who already produce events n the regon to gauge ther opnon of the marketplace and get ther observatons and recommendatons regardng the potental development of a new venue. Dscussons wth regonal nsttutons that may have an nterest n brngng unque capabltes to the proposed new venue colleges and unverstes, healthcare provders and research nsttutons, local governments, performng and cultural arts organzatons and mxed use land developers. Dscussons wth local and regonal poltcal and busness leaders to learn of ther observatons, vson and recommendatons for ths potental venue. The observatons and f ndngs of our report wll: Present a comprehensve projecton for the varous types and numbers of events that are lkely to utlze the prospectve venue. Offer the venue revenues expected to be generated by the projected events calendar. Include general ndustry assumptons for local economc mpact for varous amateur sports compettons. Thousand

5 5 Panama Cty Beach Specal Events Center Panama Cty Beach, Florda Include annual operatng costs of the prospectve venue. Lead to a recommended buldng program that wll show sze, functonalty, potental partner assets and projected constructon cost. Explore optons for added functonalty and projected costs assocated wth those optons. Dscuss potental optons avalable for venue f nancng. Intal Observatons and Recommendatons Amateur sports We have ntervewed the key people nvolved n hostng major amateur sports compettons ncludng Volleyball, Cheerleadng, Gymnastcs, Wrestlng and Basketball (College, Hgh School and AAU). All persons ntervewed spoke of the attracton that the beach offers to compettors along wth the hgh level of hosptalty that compettors and ther famly/frends receve when they attend an event n One of the attractons to ths opportunty noted by the natonal promoters s that ths s an untapped market. Panama Cty Beach. However, they also spoke of the sgnf cant challenges they all face because of the lack of large qualty ndoor event venues n the area. Currently, these events are forced to use ether hgh school gymnasums or hotel conference space and ballrooms. Not only are these venues nferor to the qualty offered n compettve markets, but they are also small, forcng the events to utlze multple venues for the compettons, presentng logstcal challenges. Some events (such as gymnastcs) have moved to compettve venues lke Emerald Coast Conventon Center because of ther need to f nd larger fl oor space for the sze of ther respectve events. In the amateur sports ndustry, the ablty to host large events depends drectly on the avalable square footage to set-up volleyball and basketball courts, wrestlng and gymnastcs mats, cheerleadng stages, etc. *Our fndngs allow us to reasonably forecast a total of 88 annual amateur sports event days, attractng over 100,000 compettors. Along wth ther normal numbers of accompanyng famly and frends, ths would attract between 250, ,000 vstors to Panama Cty Beach. Natonal and Regonal Tourng Events For ths report, we ntervewed a varety of event promoters ncludng Lve Naton, AEG Lve, Hess Entertanment, Gulf Coast Jam, Red Mountan Productons and Feld Entertanment (Rnglng Brothers, Dsney on Ice, Monster Trucks). The local promoters each spoke of ther success n the market and ther belef that the regon s sgnf cantly underserved due to a lack of modern ndoor venues wth a seatng capacty of over 4,000. The promoters dscussed ther current nablty to brng natonal tourng shows to Panama Cty Beach because of the lack of an ndoor faclty wth a seatng capacty of at least 5,000. To a person, they each beleve the market could support a venue wth a capacty of between 5,000-7,500 along wth the requred complement of dressng rooms and producton capabltes. One of the attractons to ths opportunty noted by the natonal promoters s that ths s an untapped market. Ths means most people lvng n the regon have not yet experenced arena-style entertanment on a regular bass. The lkelhood s that concerts and famly shows wll be more of a novelty and experence durng an ntal honeymoon perod, delverng larger attendance than normal for a longer tme. *Our fndngs allow us to reasonably forecast 55 annual tcketed, tourng events. It s mportant to note that these tcketed events wll generate a substantal contrbuton to the venue s annual operatng budget. Large revenue streams nclude rent, food and beverage, parkng, premum seatng, tcketng and fee ncome, advertsng and namng rghts. Whle these 55 events are less than amateur sports, ther related revenues wll lkely account for over 75% of the specal events center s annual ncome. Thousand

6 6 Panama Cty Beach Specal Events Center Panama Cty Beach, Florda Venue Program Recommendaton Our research throughout the sports and entertanment ndustres, ncludng the ntervews we conducted, allow us to recommend a venue wth the followng attrbutes: Flexble seatng components that allow for maxmum event hostng and operatonal eff cency. Open fl oor space large enough to stage sports compettons wth multple courts, mats and stages. Seatng capacty between 4,500-6,000 for concerts, famly shows, relgous assembles, major sports events and other tourng tcketed events. Industry-standard producton capabltes to allow for quck event converson, multple seatng conf guratons and operatng eff cences. Ablty to host consumer shows and large communty banquets/functons. Some premum and sponsor areas, whch may nclude prvate sutes, club seats and a club lounge. Panama Cty Beach s known for ts sandy whte beaches, whch have receved numerous awards, ncludng the No. 2 beach n Amerca... REPORT OUTLINE REGIONAL COMPETITIVE ANALYSIS *Each market and faclty wll nclude a venue fact sheet and bref narratve* Panama Cty Beach Market Overvew MSA, Televson Market The Panama Cty 2014/2015 DMA contans over 138,000 televson households and ranks as the 154th largest n the country. Ths equates to approxmately 331,000 people as a potental market to attend tcketed events at the PCB Specal Events Center. The local electronc meda stretches to the west and covers much of Walton and Okaloosa Countes, ncludng the populaton centers of Fort Walton Beach and Destn. The meda reaches to the east and covers Apalachcola, Maranna, and Banbrdge. Televson statons also reach nto southern Alabama. Key Industry/Employment The largest employers n Bay County nclude Tyndall Ar Force Base, Navy Support Actvty, Bay Dstrct Schools and Bay Medcal Center. Tyndall Ar force Base employs 4,900 mltary personnel, 700 cvlans and 2,000 contractors. Along wth retrees and dependents totalng 15,000, the entre economc mpact of the base s $669 mllon. Naval Support Actvty employs 1,800 mltary personnel, 1,500 cvlans and 500 contractors. The total economc mpact s $538 mllon. Toursm s a strong ndustry, creatng more than 14,000 local jobs. Local Economy Panama Cty Beach sees more than 12 mllon vstors each year. These vstors brng n $163 mllon n accommodaton sales, $413 mllon n goods and servces and $1.5 bllon to the local economy. There are 16,500 rooms avalable for vstors and the occupancy rate s 56%. Retal sales n the Bay County area were $2.8 bllon n The per capta personal ncome for 2009 n the Panama Cty area was $35,560. Thousand

7 7 Panama Cty Beach Specal Events Center Panama Cty Beach, Florda Some Unque Characterstcs Panama Cty Beach s known for ts sandy whte beaches whch have receved numerous awards, ncludng the No. 2 beach n Amerca from Trpadvsor.com n Wth more than 320 sunny days a year and beautful warm weather all year long, Panama Cty Beach s perfect for golf. There are more than 20 golf courses wthn a 40-mle radus of the cty. Panama Cty Beach hosts a varety of festvals and events throughout the year, creatng event drven toursm nto the market. Tcket Buyng Patterns Tcket buyng patterns are somewhat dff cult to track, as there are a very lmted number of standard, ndustry event venues currently found n the market. To experence tradtonal arena event experences for concerts, famly shows and other natonal tourng shows, local resdents need to travel relatvely long dstances to the venues. Panama Cty Beach sees more than 12 mllon vstors each year. Arenas closest tradtonal arenas are the Donald Tucker Cvc Center n Tallahassee (118 mles) and the Pensacola Bay Center (115 mles). Later n ths report we revew more specf c nformaton regardng regonal arenas. Conventon and Conference Venues closest conventon venues wth the physcal ablty to host regonal conventons and consumer shows such as Home Show, Boatng and Fshng Show, Women s Show and other large consumer/trade events are the Moble Arthur Outlaw Conventon Center (186 mles) and the Jacksonvlle Prme Osborne Conventon Center (265 mles). Later n ths report, we revew more specf c nformaton regardng regonal conventon and conference spaces. Bay County Venues Panama Cty Beach Concert Venues (Amphtheater, Frank Brown Park) The Panama Cty Beach Conventon and Vstors Bureau aggressvely books a varety of concerts and festvals n an effort to attract event-drven toursts throughout the sprng, summer, and fall. The most sgnf cant challenges posed by these two outdoor venues are that both offer no canopy protecton for patrons. In addton, nether venue offers many permanent amentes (food servce, rest rooms, hosptalty/vip offerngs) to consumers. These challenges lmt the number of events that can be hosted and may dscourage guests from buyng tckets to events that may be subject to bad weather. Marna Cvc Center Ebro Dog Track Edgewater Beach and Golf Resort Boardwalk Beach Resort Sheraton Bay Pont Resort Moble Venues Moble Arthur R. Outlaw Conventon Center Moble Cvc Center Gulf Shores and Foley Venues The Wharf Amphtheater The Wharf Events Center Foley Sports Complex (under development) Fort Walton Beach Venues Emerald Coast Conventon Center Thousand

8 8 Panama Cty Beach Specal Events Center Panama Cty Beach, Florda Pensacola Pensacola Bay Center Tallahassee Donald Tucker Cvc Center - FSU Tully Gym - FSU Lawson Teachng Gym - FAMU Event Promoter and Producer Intervews *Notes from each ntervew are ncluded later n ths report* AEG Lve John Valentno, Presdent AEG Lve Florda Lve Naton AJ Wasson, SVP Lve Naton Florda Hess Entertanment Mark Hess Gulf Coast Jam Mark Shelton Red Mountan Productons Gary Wenberger, Co-Charman Chrstan Concerts Panama Cty Beach hosts a varety of festvals and events throughout the year, creatng event-drven toursm nto the market. Feld Entertanment (Rnglng Brothers Crcus, Dsney on Ice, Monster Trucks, Arena Cross, etc.) Bll Powell, EVP Feld Relgous Events Joel Osteen, Joyce Meyer Mnstres PBR (Professonal Bull Rdng) Sean Gleason, CEO World Wrestlng Entertanment (WWE) Tcketmaster Karen Swope Regonal Vce Presdent Cheerleadng and Dance Ike Duren Gymnastcs Debbe Wood College Volleyball Karssa Brttan Hgh School Volleyball Karssa Brttan Wrestlng Jeff Skpper Martal Arts Judo, Karate Weght Lftng Jeff Skpper Pckle Ball College Basketball Jm Hatf eld, Coach Jm Powell Hgh School Basketball Robert Brttan AAU Basketball Robert Brttan Indoor Soccer and Lacrosse Badmnton Fencng Corporate Meetngs Banquets and Partes Graduatons Consumer Shows (Home Show, Boat Show, Women s Show) - Davd Zmmerman, Southern Shows Conferences and Conventons - Frank Rudd, Florda Socety of Assocaton Executves Trade Shows - Frank Rudd, Florda Socety of Assocaton Executves Thousand

9 9 Panama Cty Beach Specal Events Center Panama Cty Beach, Florda Local and Regonal Partners *Notes from each ntervew wll appear at end of report* Florda State Unversty Gulf Coast State College Dr. John Holdnak Gulf Coast Regonal Medcal Carlton Ulmer St Joe Company Jorge Gonzales Cty of Panama Cty Mayor Greg Budnck, Manager Jeff Brown, Members of Panama Cty Commsson Tourst Development Councl 1. Mke Bennett 2. Andy Phllps 3. Yonne Patrons 4. Buddy Wlkes 5. Gary Walsngham 6. Gayle Oberst 7. Rck Russell 8. Grff Grff tts, Jr. Retal sales n the Bay County area were $2.8 bllon n The per capta personal ncome for 2009 n the Panama Cty area was $35,560. Panama Cty Beach Conventon and Vstors Bureau 1. Dan Rowe 2. Rchard Sanders 3. J. Mchael Brown 4. Chrs O Bran 5. Tracy Rudhall Event Center and Program Narratve from ntervews and research Sze Footprnt Functonalty sports, concerts, assembles, conferences Potental Partners healthcare, educatonal, prvate sector Events Center Draft Proforma Proforma Cover Sheet and Summary (P&L) Event Forecast by Type and Number Event Forecast by Revenues Sponsorshp and Namng Rghts Revenue Premum Seatng Revenue Full Tme Staff ng Costs Operatng Costs (Indrect Expenses) Observatons and Recommendatons Notes from Intervews Comparable Venue Whte Papers Thousand

10 Panama Cty Beach Specal Events Center Panama Cty Beach, Florda Pro forma

11 11 Panama Cty Beach Pro forma Assumptons for Panama Cty Beach Specal Events Center 1. Event types and number based on ntervews wth promoters and producers, then compared to smlar venues. 2. Tcket prces based on ndustry norms for markets smlar to Panama Cty Beach. 3. Attendance forecasts based on promoter/producer ntervews and compared to ndustry norms. 4. Faclty Fee Arena revenue stream created by addng user fee to tcketed events. Ths s based on ndustry norms and forecasts potental sharng wth respectve promoters. 5. Tcket Convenence Fees Venue share of ncome by chargng consumers for tcket purchase fees onlne, box off ce, outlets. 6. Concessons, Caterng, and Merchandse Income based on ndustry norms for specf c event types. Numbers shown are net to venue after all commssons and labor. For example Food and Beverage per capta spendng s estmated at $8 for concerts, $4 for famly shows and $2 for consumer shows. Net to the venue from commssons s 40% and we have also allocated potental revenue sharng wth event promoters, per ndustry practce. 7. Parkng Revenues forecasted by event type. Rates vary by event and tcket cost. Net revenues shown after related drect expenses. 8. Rental ncome vares by event type and s calculated to what s currently beng charged by potental competng venues. 9. All revenues shown n pro forma are net to the faclty after all applcable commssons, costs and revenue sharng. Thousand

12 12 Panama Cty Beach Pro forma $ Operatng Budget SPECIAL EVENTS EVENTS CENTER CENTER 12 Month 12 Month Operatng Operatng 1st Stablzed Year 1st Stablzed Year Number of Events Reference 192 Pad Attendance 362,500 Net Rental Income from Events $291,500 Faclty Fee Income 154,500 Tcket Convenence Income 134,000 Net Order Fee/Fulfllment-Phone/Web 42,500 Ancllary Income Concessons $429,038 Caterng $101,800 Noveltes $15,877 Parkng $142,000 Total Ancllary Income $688,715 Total Event Income $1,311,215 Other Income Advertsng (Net after Comm.) $297,500 Namng Rghts (Net after Comm.) $340,000 Luxury Seatng & Club Seatng $85,000 Sutes $106,250 Party Sutes $59,500 Lodge Boxes $0 Mscellaneous $2,000 Total Other Income $890,250 Adjust Gross Income $2,201,465 Indrect Expenses Salares & Benefts (Full & Part-Tme) $950,000 Materals, Supples & Servces $1,027,065 Base Management Fee $0 Total Indrect Expenses $1,977,065 Net Operatng Revenue before Incentve Fee, Captal Improvement Reserve Fund, Property Taxes & Debt Servce Payments. $224,400 Thousand

13 13 Panama Cty Beach Pro forma Number of Performances Famly Shows Famly Shows Famly Shows 15 Famly Shows $18 Total 15 $ Average Tcket Prce Sportng Events Basketball College Basketball -HS, AAU Volleyball Wrestlng Cheerleadng Gymnastcs Mscellaneous Total Concerts Concerts Major Concerts Mnor Total Mscellaneous WWE PBR Relgous Consumer Shows Speakers Bureau Banquets/Partes Trade Shows Total Sportng Events 16 Basketball College $14 30 Basketball -HS, AAU $5 10 Volleyball $5 6 Wrestlng $5 10 Cheerleadng $5 6 Gymnastcs $5 10 Mscellaneous $5 88 Concerts 7 Concerts Major $50 6 Concerts Mnor $35 13 Mscellaneous 1 WWE $25 2 PBR $30 10 Relgous $5 15 Consumer Shows $5 4 Speakers Bureau $20 20 Banquets/Partes $0 24 Trade Shows $ Wrestlng 300 3,000 3,000 Volleyball Relgous 3,500 1,500 30,000 Cheerleadng 1,000 15,000 3,000 4,000 Basketball - HS, AAU Concerts Mnor PBR 15, ,000 8,000 Gymnastcs 3,000 4,000 3,000 4,000 4,000 Famly Shows Basketball - College Concerts Major WWE 45,000 64, ,000 4,000 Mscellaneous Avg. Attendance Avg. Attendance 5,000 Avg. Attendance Avg. Attendance Famly Shows Sportng Events Concerts Mscellaneous Total Attendance Total Attendance Total Attendance Total Attendance 5,000 Consumer Shows 75,000 3,000 Speakers Bureau 12, Banquets / Partes 10,000 1,000 Trade Shows 24,000 Event Attendance Thousand

14 14 Panama Cty Beach Pro forma Gross Tcket Sales Famly Shows Famly Shows Famly Shows $810,000 Famly Shows $30,000 Total $810,000 Total $30,000 $ Rental Income Sportng Events Basketball College Basketball -HS, AAU Volleyball Wrestlng Cheerleadng Gymnastcs Mscellaneous Total Concerts Concerts Major Concerts Mnor Total Mscellaneous WWE PBR Relgous Consumer Shows Speakers Bureau Banquets/Partes Trade Shows Total Sportng Events $896,000 Basketball College $6,000 $60,000 Basketball -HS, AAU $30,000 $17,500 Volleyball $10,000 $15,000 Wrestlng $6,000 $75,000 Cheerleadng $10,000 $15,000 Gymnastcs $6,000 $25,000 Mscellaneous $10,000 $1,103,000 Total $78,000 Concerts $1,400,000 Concerts Major $35,000 $630,000 Concerts Mnor $30,000 $2,030,000 Total $65,000 Mscellaneous $100,000 WWE $5,000 $240,000 PBR $10,000 $150,000 Relgous $20,000 $375,000 Consumer Shows $30,000 $240,000 Speakers Bureau $20,000 $0 Banquets/Partes $0 $0 Trade Shows $60,000 $1,105,000 Total $145,000 Banquets /Partes 1,000 Concerts Major 6,000 Concerts Mnor 9,000 Famly Shows 10,500 $20k $0k Rembursed Income (Loss) Total Famly Shows $10,500 Total Concerts $15,000 Total Mscellaneous Thousand$1,000

15 15 Panama Cty Beach Pro forma (Opton 1 - Full Program) # OF TICKET AVERAGE TOTAL AVERAGE TOTAL GROSS RENTAL REIMBURSED AVERAGE TOTAL NET FACILITY NET TICKET NET NET NET NET TYPES OF EVENTS PERF PRICE ATTND ATTND ATTND ATTND TICKET SALES INCOME INCOME (LOSS) ATTND ATTND FEE CONV ORDER/FULFILL CONCESSIONS CATERING NOVELTIES PARKING TOTALS FAMILY SHOWS Famly shows 15 $ ,000 45,000 3,000 45, ,000 30,000 (10,500) 67,500 18,000 15,000 35, ,000 Total 15 $ ,000 45, ,000 30,000 (10,500) 67,500 18,000 15,000 35, ,000 SPORTING EVENTS Basketball - College 16 $ ,000 16,000 4,000 64, ,000 6,000 N/A N/A N/A 102, Backetball - HS, AAU 30 $ ,000 1,000 15,000 60,000 30,000 N/A N/A N/A 24, Volleyball 10 $ , ,500 17,500 10,000 N/A N/A N/A 5, Wrestlng 6 $ , ,000 15,000 6,000 N/A N/A N/A 4, Cheerleadng 10 $5.00 1,500 15,000 1,500 15,000 75,000 10,000 24, Gymnastcs 6 $ , ,000 15,000 6,000 4, Mscellaneous 10 $ , ,000 25,000 10,000 8, Total 88 60, ,500 1,103,500 78, , CONCERTS Concerts Major 7 $ ,000 28,000 4,000 28,000 1,400,000 35,000 (6,000) 42,000 56,000 15,000 44, ,749 28,000 Concerts Mnor 6 $ ,000 18,000 3,000 18, ,000 30,000 (9,000) 27,000 36,000 12,500 28, ,128 25,000 Total 13 46,000 46,000 2,030,000 65,000 (15,000) 69,000 92,000 27,500 73, ,877 53,000 MISCELLANEOUS WWE 1 $ ,000 4,000 4,000 4, ,000 5,000 6,000 8, , ,000 PBR 2 $ ,000 8,000 4,000 8, ,000 10,000 12,000 16, , ,000 Relgous 10 $5.00 3,000 30,000 3,000 30, ,000 20, , Consumer Shows 15 $5.00 5,000 75,000 5,000 75, ,000 30, , Speakers Bureau 4 $ ,000 12,000 3,000 12, ,000 20, ,600 1, Banquets/Partes 20 $ , , (1,000) , Trade Shows 24 $0.00 1,000 24,000 1,000 24, , ,000 60, Total , ,000 1,105, ,000 (1,000) 18,000 24, , , ,000 GRAND TOTAL 192 $ , ,500 2, ,500 $5,048,500 $318,000 ($26,500) $154,500 $134,000 $42,500 $429,038 $101,800 $15,877 $142,000 $1,311,215

16 16 Panama Cty Beach Pro forma $ Revenues ADVERTISING REVENUE Gross Arena-Advertsng Gross Pourng Rghts Less Commssons (15% ntal term of sale) Net Arena Advertsng 12 Month 12 Month OPERATING OPERATING 1st Stablzed Year 1st STABLIZED YEAR $300,000 $50,000 ($52,500) $297,500 NAMING RIGHTS Gross Arena Namng Rghts $400,000 Less Commssons (15% ntal term of sale) ($60,000) Net Namng Rghts $340,000 $ Projecton of Premum Seatng Income Club Seatng Number of Seats Sold Gross Amount Per Seat Net Amount Per Seat (after Commsson) Gross Amount Sold Less Commssons (15% ntal term of sale) Net to Faclty 100 $1,000 $850 $100,000 ($15,000) $85,000 Sutes Number of Seats Per Sute Number of Sutes Sold Gross Amount Per Sute Net Amount Per Sute (after Commsson) Gross Amount Sold Less Commssons (15% ntal term of sale) Net to Faclty 14 5 $25,000 $21,250 ($18,750) $125,000 $106,250 Party Sutes Number of Sutes (10-12 Seats per box) Gross Amount Sold Less Commssons (15% ntal term of sale) Net to Faclty 4 $70,000 ($10,500) $59,500 Thousand

17 Panama Cty Beach Specal Events Center Panama Cty Beach, Florda Programmed Space Allocatons

18 18 Panama Cty Beach Specal Events Center Panama Cty Beach, Florda Program Data Programmed Values Notes MULTI-PURPOSE EVENTS CENTER PROGRAM SPECTATOR FACILITIES: FLOOR LENGTH 225 FEET To accommodate 4 Hgh School sze basketball courts FLOOR WIDTH 150 FEET SEAT WIDTHS 20, 21, 22 INCHES (Vares) AISLE WIDTH 48 INCHES AVERAGE RISER HEIGHT vares INCHES Max. 22"H MAIN CONCOURSE WIDTH 25' Mn. FEET SEATING EVENT FLOOR W/O RETRACTABLE SEATS 33,750 SQ. FT. To accommodate 4 Hgh School sze basketball courts EVENT FLOOR AREA W/ SEATS FULLY RETRACTED 8,400 SQ. FT. Center court basketball confguraton NUMBER OF RETRACTABLE SEATS 3,380 SEATS NUMBER OF FIXED & ACCESSIBLE SEATS 1,370 SEATS BASKETBALL SEATING CAPACITY 4,750 SEATS FLAT FLOOR SEATS FOR END STAGE CONCERT 960 SEATS Wth retractable seatng pulled out END STAGE CONCERT SEATING CAPACITY 5,034 SEATS Assumes loss of 20% of retractable seats at stage end. SPACE PROGRAM: EVENT FLOOR / SEATING MAIN EVENT FLOOR 33,750 SQ. FT. Wthout retractable seats (seats parked n alcoves) ALCOVE TO STORE RETRACTABLE SEATS 6,000 SQ. FT. 8' deep around event floor FIXED SEATING GENERAL FIXED SEATS 983 SEATS Seatng on 3 sdes only. CLUB SEATS 200 SEATS Accessble from Club Lounge PRIVATE SUITE SEATS 96 SEATS 6 12 fxed seats + 4 bar seats per sute PARTY SUITE SEATS 64 SEATS 4 12 fxed seats + 4 bar seats per sute UPPER ACCESSIBLE SEATING + COMPANION SEATS 27 SEATS 50% wheelchar postons / 50% companon seats AREA OF GENERAL FIXED SEATS 3,333 SQ. FT. At 5.6 sf/seat AREA OF CLUB SEATS 1,200 SQ. FT. At 6.0 sf/seat AREA OF SUITE SEATS (PRIVATE AND PARTY) 1,440 SQ. FT. 9 sf/seat, ncludes shared drnk trays. AREA OF ACCESSIBLE SEATING 603 SQ. FT. AREA OF 6 PRIVATE SUITES (EXCL. SEATING) 2,520 SQ. FT. 15' x 28' per sute w/ bar and tolet. On man concourse level. AREA OF 4 PARTY SUITES (EXCL. SEATING) 1,680 SQ. FT. Incl. tolet. Operable wall for each par for use as meetng rooms. PUBLIC AREAS TOTAL CONCOURSE AREAS (Excludng Vomtores) Man Concourse 20,000 SQ. FT. 4 s.f. per person LOWER ENTRY LOBBY 3,000 SQ. FT. Includes Tcket Lobby BOX /TICKET OFFICES 800 SQ. FT. CONCESSION STANDS Event Level 768 SQ. FT. 125 people per POS for floor seats only Man Concourse Level 3,739 SQ. FT. 125 people per POS for basketball, exludng premum areas PUBLIC RESTROOMS Event Level 1,152 SQ. FT. For floor seats only Man Concourse Level 4,750 SQ. FT. For basketball seatng capacty GUEST SERVICES 100 SQ. FT. FIRST AID ROOM 400 SQ. FT. On Event Floor level NOVELTY STANDS 300 SQ. FT. MERCHANDISE STORE 0 SQ. FT. SUBTOTAL: 85,535 SQ. FT.

19 19 Panama Cty Beach Specal Events Center Panama Cty Beach, Florda Program Data Programmed Values Notes TEAM FACILITIES GENERAL TEAM LOCKER RMS. 4,400 SQ. FT. 1,100 s.f. each for major athletc events ADDITIONAL LOCKER RMS. FOR AMATEUR ATHLETICS 3,000 SQ. FT. 750 s.f. - to also be used for Performers and Offcals STAR DRESSING ROOMS 600 SQ. FT. S.F. GREEN ROOM W/ KITCHEN 600 SQ. FT. Doubles as meda ntervew room. 15% 1,290 SQ. FT. SUBTOTAL: 9,890 SQ. FT. CLUB LOUNGE CLUB LOUNGE 4,000 SQ. FT. Overlookng Events Center & Sport Courts/Exhbt Floor CATERING KITCHEN 3,500 SQ. FT. CATERING PANTRY 400 SQ. FT. TABLE & CHAIR STORAGE 200 SQ. FT. SUBTOTAL: 8,100 SQ. FT. PRESS FACILITIES - EVENT LEVEL PANTRY 150 SQ. FT. PRESS TOILETS 300 SQ. FT. LOUNGE/ INTERVIEW ROOM 0 SQ. FT. Use Green Room PRESS WORK ROOM 800 SQ. FT. SUBTOTAL: 1,250 SQ. FT. SERVICE AREAS (at Event Level unless noted otherwse) PROMOTERS LOUNGE/OFFICES 400 SQ. FT. BACKSTAGE LOAD-IN & TEMPORARY EVENT STORAGE 3,000 SQ. FT. MARSHALING YARD Exteror Approxmately one acre for truck parkng, crcus, etc. MAIN STORAGE ROOM 12,000 SQ. FT. For tables, chars, portable floors, goals, etc. SECURITY/MAINT. RMS. Securty Control/ Fre Command Area 600 SQ. FT. Mantenance/Engneer's shops 1,000 SQ. FT. SERVICE AREA TOILETS 400 SQ. FT. For employees PERMANENT EMPLOYEE LOCKERS & BREAK ROOM 800 SQ. FT. PART TIME STAFF LOCKER ROOM & TOILETS 1,000 SQ. FT. 1 male, s.f. each UNIFORM DISTRIBUTION ROOM 300 SQ. FT. LAUNDRY 300 SQ. FT. BEVERAGE DISTRIBUTION PUMP ROOMS 750 SQ. FT. COMMISSARY/STORAGE/OFFICES 3,000 SQ. FT. FULL-PREP. KITCHEN - CLUB LEVEL Incl. above SQ. FT. At Club Lounge level FOOD SERVICE VENDOR DEPOTS 800 SQ. FT. 400 Man Concourse 15% OF NET 3,653 SQ. FT. SUBTOTAL: 28,003 SQ. FT. OFFICE SPACE BUILDING MANAGEMENT OFFICES + CATERING 3,200 SQ. FT. Includes nternal crculaton and parttons BUILDING ENGINEERS OFFICE/CONFERENCE ROOM 400 SQ. FT. Event Level SUBTOTAL: 3,600 SQ. FT. TOTAL NET HEATED AREA: 136,378 SQ. FT.

20 20 Panama Cty Beach Specal Events Center Panama Cty Beach, Florda Program Data Programmed Values Notes MECHANICAL & ELECTRICAL SHOW/POWER 300 SQ. FT. SOUND/POWER 300 SQ. FT. TEL. AND ELEC. WITHIN BLDG. 600 SQ.FT. all levels MECHANICAL AIR-HANDLER ROOMS 0 SQ.FT. Assume rooftop or ntersttual locatons for AHU's. MAIN MECHANICAL ROOM 2,500 SQ.FT. Chllers, bolers, pumps, fre pump, etc. MAIN ELECTRICAL & SWITCHGEAR ROOM 1,500 SQ.FT. Assume desel fre pump outdoors SUBTOTAL: 5,200 SQ. FT. CIRCULATION/WALLS/PARTITIONS VOMITORIES 2,500 SQ. FT. INTERIOR STAIRWAYS 3,600 SQ. FT. Assume 300 sf x 2 levels ELEVATORS & MACHINE ROOMS 500 SQ. FT. (2) Elevators ESCALATORS 0 SQ. FT. WALLS/PARTITIONS/CHASES/LOW-HEADROOM AREAS 13,638 SQ. FT. Assume 10% of net heated area SUBTOTAL: 20,238 SQ. FT. TOTAL GROSS HEATED AREA: 161,815 SQ. FT. NON-HEATED AREA LOADING 50% 400 SQ. FT. 800 SQ. FT. 1 canopy 50% 800 SQ. FT. TOTAL NON-HEATED AREA: 2,000 SQ. FT. EVENTS CENTER - TOTAL GROSS AREA: 163,815 G.S.F. (HEATED & NON-HEATED) SQ. FT per seat for concert capacty

21 21 Panama Cty Beach Specal Events Center Panama Cty Beach, Florda Program Data Programmed Values Notes EXHIBIT FLOOR / AMATEUR SPORTS ANNEX - OPTION 1: FULL PROGRAM W/ 4 COURTS SPACE PROGRAM: MAIN EXHIBIT HALL COLUMN-FREE EXHIBIT FLOOR 33,750 SQ. FT. 225' x 150'. Space for 4 b'ball courts. Subdvdable nto 2 halls. PRE-FUNCTION CONCOURSE/LOBBY 13,825 SQ. FT. 25' clear wdth concourse - one sde and one end. PUBLIC RESTROOMS 2,250 SQ. FT. CONCESSIONS 800 SQ. FT. 8 ponts-of-sale BACK-OF-HOUSE STORAGE 3,375 SQ. FT. BACK-OF-HOUSE SERVICE CORRIDOR 3,600 SQ. FT. 16' wde SUBTOTAL NET AREA: 57,600 SQ. FT. BALLROOM / MEETING ROOMS MAIN BALLROOM 0 SQ. FT. Use confgured exhbt hall as flex space / ballroom. JUNIOR BALLROOM / MEETING ROOMS (60' x 120') 7,200 SQ. FT. Subdvdable: 2,400 sf; 1,200 s.f. meetng rooms PRE-FUNCTION CONCOURSE/LOBBY 0 SQ. FT. Included above wth exhbt hall. PUBLIC RESTROOMS 0 SQ. FT. Use Exhbt Hall tolets BACK-OF-HOUSE STORAGE 0 SQ. FT. Use Exhbt Hall storage BACK-OF-HOUSE SERVICE CORRIDOR 1,920 SQ. FT. 16' wde SUBTOTAL NET AREA: 9,120 SQ. FT. KITCHEN & CATERING MAIN EXHIBIT HALL KITCHEN 0 SQ. FT. Included wth man Events Center. SUBTOTAL NET AREA: 0 SQ. FT. MECHANICAL & ELECTRICAL MAIN ELECTRICAL ROOM 0 SQ. FT. Shared wth Events Center Man Electrcal Room ELECTRICAL CLOSETS 225 SQ. FT. MAIN TELEPHONE ROOM 240 SQ. FT. SOUND SYSTEM ROOM 240 SQ. FT. MAIN MECHANICAL ROOM 0 SQ. FT. Shared wth Events Center Man Mech. Room AHU ROOMS 0 SQ. FT. Assume rooftop or ntersttual locatons for AHU's. SUBTOTAL NET AREA: 705 SQ. FT. CIRCULATION/WALLS/PARTITIONS WALLS/PARTITIONS/CHASES 5,760 SQ. FT. Assume 10% of net heated area SUBTOTAL: 5,760 SQ. FT. NON-HEATED AREA LOADING 50% TOTAL GROSS HEATED AREA: TOTAL NON-HEATED AREA: 73,185 SQ. FT. 800 SQ. FT. 1,600 SQ. FT. 2,400 SQ. FT. ANNEX TOTAL GROSS AREA: (HEATED & NON-HEATED) 75,585 G.S.F. TOTAL EVENTS CENTER + ANNEX GROSS AREA: 239,400 G.S.F. (OPTION 1)

22 Panama Cty Beach Specal Events Center Panama Cty Beach, Florda Space Adjacency Dagrams

23 23 Program Dagrams Panama Cty Beach Specal Events Center Descrpton FLEXIBILITY + EXPANDABILITY Event Center Concept Flexblty and expandablty nspred the concept for the Panama Cty Beach Specal Events Center. The arena and the exhbt fl oor wll be desgned to be one contnuouse fl oor surface that can be used as one large space or dvded by an operable partton. Servce areas and the Concourse act as ndependent crculaton spnes that run parallel and contguous alongsde both venues. Wth ths concept, future expanson can logcally occur n a lnear drecton whle mantanng the appropate programmatc relatonshps. BRIDGING FUNCTIONALITY The brdge concept creates a unque place that s shared between the two venues. Tcket holders are able to vew both the Arena and the Exhbt area from the lnear platform that s located at the second fl oor concourse level.

24 24 Program Dagrams Panama Cty Beach Specal Events Center h f b c e d d g a Legend a. Man Event Center Lobby b. Stage c. Back Stage d. Pre-functon Space e. Ballroom f. Ktchen g. Secondary Conventon + Feldhouse Entrance h. Loadng Dock + Event fl oor Access. Storage j. Arena Pedestran Brdge k. Open Club (operable walls to allow crculaton) l. Operable Walls m. Scoreboard n. Rbbon Board o. Wndow to Conventon + Feldhouse p. Rng q. Ice Floor r. Event Area Frst Floor (Event Level) Concert Stage + 96 Booths Seat Banquet Arena Back of House Servce Corrdor Retractable Seatng Storage Alcove Retractable Seatng Arena Concessons / Restroooms Publc Crculaton Conventon + Feldhouse Conventon Restrooms / Concessons Junor Ballroom / Meetng Rooms Conventon + Feldhouse Back of House Mechancal + Electrcal (Shared) Prvate and Party Sutes Arena Club Fxed Seats

25 25 Program Dagrams Panama Cty Beach Specal Events Center k j a Legend a. Man Event Center Lobby b. Stage c. Back Stage d. Pre-functon Space e. Ballroom f. Ktchen g. Secondary Conventon + Feldhouse Entrance h. Loadng Dock + Event fl oor Access. Storage j. Arena Pedestran Brdge k. Open Club (operable walls to allow crculaton) l. Operable Walls m. Scoreboard n. Rbbon Board o. Wndow to Conventon + Feldhouse p. Rng q. Ice Floor r. Event Area Second Floor (Concourse Level) Concert Stage + 96 Booths Seat Banquet Arena Back of House Servce Corrdor Retractable Seatng Storage Alcove Retractable Seatng Arena Concessons / Restroooms Publc Crculaton Conventon + Feldhouse Conventon Restrooms / Concessons Junor Ballroom / Meetng Rooms Conventon + Feldhouse Back of House Mechancal + Electrcal (Shared) Prvate and Party Sutes Arena Club Fxed Seats

26 26 Program Dagrams Panama Cty Beach Specal Events Center k f j l e d a d g Legend a. Man Event Center Lobby b. Stage c. Back Stage d. Pre-functon Space e. Ballroom f. Ktchen g. Secondary Conventon + Feldhouse Entrance h. Loadng Dock + Event fl oor Access. Storage j. Arena Pedestran Brdge k. Open Club (operable walls to allow crculaton) l. Operable Walls m. Scoreboard n. Rbbon Board o. Wndow to Conventon + Feldhouse p. Rng q. Ice Floor r. Event Area Aeral Vew 1 Concert Stage + 96 Booths Seat Banquet Arena Back of House Servce Corrdor Retractable Seatng Storage Alcove Retractable Seatng Arena Concessons / Restroooms Publc Crculaton Conventon + Feldhouse Conventon Restrooms / Concessons Junor Ballroom / Meetng Rooms Conventon + Feldhouse Back of House Mechancal + Electrcal (Shared) Prvate and Party Sutes Arena Club Fxed Seats

27 27 Program Dagrams Panama Cty Beach Specal Events Center m n o j b Legend a. Man Event Center Lobby b. Stage c. Back Stage d. Pre-functon Space e. Ballroom f. Ktchen g. Secondary Conventon + Feldhouse Entrance h. Loadng Dock + Event fl oor Access. Storage j. Arena Pedestran Brdge k. Open Club (operable walls to allow crculaton) l. Operable Walls m. Scoreboard n. Rbbon Board o. Wndow to Conventon + Feldhouse p. Rng q. Ice Floor r. Event Area Perspectve Vew from Club Concert Stage + 96 Booths Seat Banquet Arena Back of House Servce Corrdor Retractable Seatng Storage Alcove Retractable Seatng Arena Concessons / Restroooms Publc Crculaton Conventon + Feldhouse Conventon Restrooms / Concessons Junor Ballroom / Meetng Rooms Conventon + Feldhouse Back of House Mechancal + Electrcal (Shared) Prvate and Party Sutes Arena Club Fxed Seats

28 28 Program Dagrams Panama Cty Beach Specal Events Center h f e d d g Legend a Frst Floor (Event Level) Basketball 1 Court + 96 Booths Seat Banquet a. Man Event Center Lobby b. Stage c. Back Stage d. Pre-functon Space e. Ballroom f. Ktchen g. Secondary Conventon + Feldhouse Entrance h. Loadng Dock + Event fl oor Access. Storage j. Arena Pedestran Brdge k. Open Club (operable walls to allow crculaton) l. Operable Walls m. Scoreboard n. Rbbon Board o. Wndow to Conventon + Feldhouse p. Rng q. Ice Floor r. Event Area Arena Back of House Servce Corrdor Retractable Seatng Storage Alcove Retractable Seatng Arena Concessons / Restroooms Publc Crculaton Conventon + Feldhouse Conventon Restrooms / Concessons Junor Ballroom / Meetng Rooms Conventon + Feldhouse Back of House Mechancal + Electrcal (Shared) Prvate and Party Sutes Arena Club Fxed Seats

29 29 Program Dagrams Panama Cty Beach Specal Events Center k j a Legend a. Man Event Center Lobby b. Stage c. Back Stage d. Pre-functon Space e. Ballroom f. Ktchen g. Secondary Conventon + Feldhouse Entrance h. Loadng Dock + Event fl oor Access. Storage j. Arena Pedestran Brdge k. Open Club (operable walls to allow crculaton) l. Operable Walls m. Scoreboard n. Rbbon Board o. Wndow to Conventon + Feldhouse p. Rng q. Ice Floor r. Event Area Second Floor (Concourse Level) Basketball 1 Court + Conventon Arena Back of House Servce Corrdor Retractable Seatng Storage Alcove Retractable Seatng Arena Concessons / Restroooms Publc Crculaton Conventon + Feldhouse Conventon Restrooms / Concessons Junor Ballroom / Meetng Rooms Conventon + Feldhouse Back of House Mechancal + Electrcal (Shared) Prvate and Party Sutes Arena Club Fxed Seats

30 30 Program Dagrams Panama Cty Beach Specal Events Center k f j l e d a d g Legend a. Man Event Center Lobby b. Stage c. Back Stage d. Pre-functon Space e. Ballroom f. Ktchen g. Secondary Conventon + Feldhouse Entrance h. Loadng Dock + Event fl oor Access. Storage j. Arena Pedestran Brdge k. Open Club (operable walls to allow crculaton) l. Operable Walls m. Scoreboard n. Rbbon Board o. Wndow to Conventon + Feldhouse p. Rng q. Ice Floor r. Event Area Aeral Vew 1 Basketball 1 Court + 96 Booths Seat Banquet Arena Back of House Servce Corrdor Retractable Seatng Storage Alcove Retractable Seatng Arena Concessons / Restroooms Publc Crculaton Conventon + Feldhouse Conventon Restrooms / Concessons Junor Ballroom / Meetng Rooms Conventon + Feldhouse Back of House Mechancal + Electrcal (Shared) Prvate and Party Sutes Arena Club Fxed Seats

31 31 Program Dagrams Panama Cty Beach Specal Events Center m n o j Legend a. Man Event Center Lobby b. Stage c. Back Stage d. Pre-functon Space e. Ballroom f. Ktchen g. Secondary Conventon + Feldhouse Entrance h. Loadng Dock + Event fl oor Access. Storage j. Arena Pedestran Brdge k. Open Club (operable walls to allow crculaton) l. Operable Walls m. Scoreboard n. Rbbon Board o. Wndow to Conventon + Feldhouse p. Rng q. Ice Floor r. Event Area Perspectve Vew from Club Basketball 1 Court + 96 Booths Seat Banquet Arena Back of House Servce Corrdor Retractable Seatng Storage Alcove Retractable Seatng Arena Concessons / Restroooms Publc Crculaton Conventon + Feldhouse Conventon Restrooms / Concessons Junor Ballroom / Meetng Rooms Conventon + Feldhouse Back of House Mechancal + Electrcal (Shared) Prvate and Party Sutes Arena Club Fxed Seats

32 32 Program Dagrams Panama Cty Beach Specal Events Center h f d d g Legend a Frst Floor (Event Level) Basketball 4 Courts + 4 Courts a. Man Event Center Lobby b. Stage c. Back Stage d. Pre-functon Space e. Ballroom f. Ktchen g. Secondary Conventon + Feldhouse Entrance h. Loadng Dock + Event fl oor Access. Storage j. Arena Pedestran Brdge k. Open Club (operable walls to allow crculaton) l. Operable Walls m. Scoreboard n. Rbbon Board o. Wndow to Conventon + Feldhouse p. Rng q. Ice Floor r. Event Area Arena Back of House Servce Corrdor Retractable Seatng Storage Alcove Retractable Seatng Arena Concessons / Restroooms Publc Crculaton Conventon + Feldhouse Conventon Restrooms / Concessons Junor Ballroom / Meetng Rooms Conventon + Feldhouse Back of House Mechancal + Electrcal (Shared) Prvate and Party Sutes Arena Club Fxed Seats

33 33 Program Dagrams Panama Cty Beach Specal Events Center k j a Legend a. Man Event Center Lobby b. Stage c. Back Stage d. Pre-functon Space e. Ballroom f. Ktchen g. Secondary Conventon + Feldhouse Entrance h. Loadng Dock + Event fl oor Access. Storage j. Arena Pedestran Brdge k. Open Club (operable walls to allow crculaton) l. Operable Walls m. Scoreboard n. Rbbon Board o. Wndow to Conventon + Feldhouse p. Rng q. Ice Floor r. Event Area Second Floor (Concourse Level) Basketball 4 Courts + 4 Courts Arena Back of House Servce Corrdor Retractable Seatng Storage Alcove Retractable Seatng Arena Concessons / Restroooms Publc Crculaton Conventon + Feldhouse Conventon Restrooms / Concessons Junor Ballroom / Meetng Rooms Conventon + Feldhouse Back of House Mechancal + Electrcal (Shared) Prvate and Party Sutes Arena Club Fxed Seats

34 34 Program Dagrams Panama Cty Beach Specal Events Center k f j d a d g Legend a. Man Event Center Lobby b. Stage c. Back Stage d. Pre-functon Space e. Ballroom f. Ktchen g. Secondary Conventon + Feldhouse Entrance h. Loadng Dock + Event fl oor Access. Storage j. Arena Pedestran Brdge k. Open Club (operable walls to allow crculaton) l. Operable Walls m. Scoreboard n. Rbbon Board o. Wndow to Conventon + Feldhouse p. Rng q. Ice Floor r. Event Area Aeral Vew 1 Basketball 4 Courts + 4 Courts Arena Back of House Servce Corrdor Retractable Seatng Storage Alcove Retractable Seatng Arena Concessons / Restroooms Publc Crculaton Conventon + Feldhouse Conventon Restrooms / Concessons Junor Ballroom / Meetng Rooms Conventon + Feldhouse Back of House Mechancal + Electrcal (Shared) Prvate and Party Sutes Arena Club Fxed Seats

35 35 Program Dagrams Panama Cty Beach Specal Events Center m n o j Legend a. Man Event Center Lobby b. Stage c. Back Stage d. Pre-functon Space e. Ballroom f. Ktchen g. Secondary Conventon + Feldhouse Entrance h. Loadng Dock + Event fl oor Access. Storage j. Arena Pedestran Brdge k. Open Club (operable walls to allow crculaton) l. Operable Walls m. Scoreboard n. Rbbon Board o. Wndow to Conventon + Feldhouse p. Rng q. Ice Floor r. Event Area Perspectve Vew from Club Basketball 4 Courts + 4 Courts Arena Back of House Servce Corrdor Retractable Seatng Storage Alcove Retractable Seatng Arena Concessons / Restroooms Publc Crculaton Conventon + Feldhouse Conventon Restrooms / Concessons Junor Ballroom / Meetng Rooms Conventon + Feldhouse Back of House Mechancal + Electrcal (Shared) Prvate and Party Sutes Arena Club Fxed Seats

36 36 Program Dagrams Panama Cty Beach Specal Events Center h f d d g Legend a Frst Floor (Event Level) Volleyball 8 Courts + 8 Courts a. Man Event Center Lobby b. Stage c. Back Stage d. Pre-functon Space e. Ballroom f. Ktchen g. Secondary Conventon + Feldhouse Entrance h. Loadng Dock + Event fl oor Access. Storage j. Arena Pedestran Brdge k. Open Club (operable walls to allow crculaton) l. Operable Walls m. Scoreboard n. Rbbon Board o. Wndow to Conventon + Feldhouse p. Rng q. Ice Floor r. Event Area Arena Back of House Servce Corrdor Retractable Seatng Storage Alcove Retractable Seatng Arena Concessons / Restroooms Publc Crculaton Conventon + Feldhouse Conventon Restrooms / Concessons Junor Ballroom / Meetng Rooms Conventon + Feldhouse Back of House Mechancal + Electrcal (Shared) Prvate and Party Sutes Arena Club Fxed Seats

37 37 Program Dagrams Panama Cty Beach Specal Events Center h f b c d d g Legend a Frst Floor (Event Level) Cheerleadng 1 Court + 3 Practce Courts a. Man Event Center Lobby b. Stage c. Back Stage d. Pre-functon Space e. Ballroom f. Ktchen g. Secondary Conventon + Feldhouse Entrance h. Loadng Dock + Event fl oor Access. Storage j. Arena Pedestran Brdge k. Open Club (operable walls to allow crculaton) l. Operable Walls m. Scoreboard n. Rbbon Board o. Wndow to Conventon + Feldhouse p. Rng q. Ice Floor r. Event Area Arena Back of House Servce Corrdor Retractable Seatng Storage Alcove Retractable Seatng Arena Concessons / Restroooms Publc Crculaton Conventon + Feldhouse Conventon Restrooms / Concessons Junor Ballroom / Meetng Rooms Conventon + Feldhouse Back of House Mechancal + Electrcal (Shared) Prvate and Party Sutes Arena Club Fxed Seats

38 38 Program Dagrams Panama Cty Beach Specal Events Center h f d d g Legend a Frst Floor (Event Level) Wrestlng 6 Mats + 10 Mats a. Man Event Center Lobby b. Stage c. Back Stage d. Pre-functon Space e. Ballroom f. Ktchen g. Secondary Conventon + Feldhouse Entrance h. Loadng Dock + Event fl oor Access. Storage j. Arena Pedestran Brdge k. Open Club (operable walls to allow crculaton) l. Operable Walls m. Scoreboard n. Rbbon Board o. Wndow to Conventon + Feldhouse p. Rng q. Ice Floor r. Event Area Arena Back of House Servce Corrdor Retractable Seatng Storage Alcove Retractable Seatng Arena Concessons / Restroooms Publc Crculaton Conventon + Feldhouse Conventon Restrooms / Concessons Junor Ballroom / Meetng Rooms Conventon + Feldhouse Back of House Mechancal + Electrcal (Shared) Prvate and Party Sutes Arena Club Fxed Seats

39 39 Program Dagrams Panama Cty Beach Specal Events Center h f d d g Legend a Frst Floor (Event Level) Gymnastcs 2 Areas a. Man Event Center Lobby b. Stage c. Back Stage d. Pre-functon Space e. Ballroom f. Ktchen g. Secondary Conventon + Feldhouse Entrance h. Loadng Dock + Event fl oor Access. Storage j. Arena Pedestran Brdge k. Open Club (operable walls to allow crculaton) l. Operable Walls m. Scoreboard n. Rbbon Board o. Wndow to Conventon + Feldhouse p. Rng q. Ice Floor r. Event Area Arena Back of House Servce Corrdor Retractable Seatng Storage Alcove Retractable Seatng Arena Concessons / Restroooms Publc Crculaton Conventon + Feldhouse Conventon Restrooms / Concessons Junor Ballroom / Meetng Rooms Conventon + Feldhouse Back of House Mechancal + Electrcal (Shared) Prvate and Party Sutes Arena Club Fxed Seats

40 40 Program Dagrams Panama Cty Beach Specal Events Center h f q c d d g Legend a Frst Floor (Event Level) Dsney on Ice Temporary Ice fl oor + Conventon a. Man Event Center Lobby b. Stage c. Back Stage d. Pre-functon Space e. Ballroom f. Ktchen g. Secondary Conventon + Feldhouse Entrance h. Loadng Dock + Event fl oor Access. Storage j. Arena Pedestran Brdge k. Open Club (operable walls to allow crculaton) l. Operable Walls m. Scoreboard n. Rbbon Board o. Wndow to Conventon + Feldhouse p. Rng q. Ice Floor r. Event Area Arena Back of House Servce Corrdor Retractable Seatng Storage Alcove Retractable Seatng Arena Concessons / Restroooms Publc Crculaton Conventon + Feldhouse Conventon Restrooms / Concessons Junor Ballroom / Meetng Rooms Conventon + Feldhouse Back of House Mechancal + Electrcal (Shared) Prvate and Party Sutes Arena Club Fxed Seats

41 41 Program Dagrams Panama Cty Beach Specal Events Center h f p b c d d g Legend a Frst Floor (Event Level) WWE Rng + Conventon a. Man Event Center Lobby b. Stage c. Back Stage d. Pre-functon Space e. Ballroom f. Ktchen g. Secondary Conventon + Feldhouse Entrance h. Loadng Dock + Event fl oor Access. Storage j. Arena Pedestran Brdge k. Open Club (operable walls to allow crculaton) l. Operable Walls m. Scoreboard n. Rbbon Board o. Wndow to Conventon + Feldhouse p. Rng q. Ice Floor r. Event Area Arena Back of House Servce Corrdor Retractable Seatng Storage Alcove Retractable Seatng Arena Concessons / Restroooms Publc Crculaton Conventon + Feldhouse Conventon Restrooms / Concessons Junor Ballroom / Meetng Rooms Conventon + Feldhouse Back of House Mechancal + Electrcal (Shared) Prvate and Party Sutes Arena Club Fxed Seats

42 42 Program Dagrams Panama Cty Beach Specal Events Center h f r c d d g Legend a Frst Floor (Event Level) Crcus Event Area + Conventon a. Man Event Center Lobby b. Stage c. Back Stage d. Pre-functon Space e. Ballroom f. Ktchen g. Secondary Conventon + Feldhouse Entrance h. Loadng Dock + Event fl oor Access. Storage j. Arena Pedestran Brdge k. Open Club (operable walls to allow crculaton) l. Operable Walls m. Scoreboard n. Rbbon Board o. Wndow to Conventon + Feldhouse p. Rng q. Ice Floor r. Event Area Arena Back of House Servce Corrdor Retractable Seatng Storage Alcove Retractable Seatng Arena Concessons / Restroooms Publc Crculaton Conventon + Feldhouse Conventon Restrooms / Concessons Junor Ballroom / Meetng Rooms Conventon + Feldhouse Back of House Mechancal + Electrcal (Shared) Prvate and Party Sutes Arena Club Fxed Seats

43 43 Program Dagrams Panama Cty Beach Specal Events Center h f r c d d g Legend a Frst Floor (Event Level) Bull Rdng Event Area + Conventon a. Man Event Center Lobby b. Stage c. Back Stage d. Pre-functon Space e. Ballroom f. Ktchen g. Secondary Conventon + Feldhouse Entrance h. Loadng Dock + Event fl oor Access. Storage j. Arena Pedestran Brdge k. Open Club (operable walls to allow crculaton) l. Operable Walls m. Scoreboard n. Rbbon Board o. Wndow to Conventon + Feldhouse p. Rng q. Ice Floor r. Event Area Arena Back of House Servce Corrdor Retractable Seatng Storage Alcove Retractable Seatng Arena Concessons / Restroooms Publc Crculaton Conventon + Feldhouse Conventon Restrooms / Concessons Junor Ballroom / Meetng Rooms Conventon + Feldhouse Back of House Mechancal + Electrcal (Shared) Prvate and Party Sutes Arena Club Fxed Seats

44 44 Program Dagrams Panama Cty Beach Specal Events Center h f d d g Legend a Frst Floor (Event Level) Conventon 188 Booths seat Banquet a. Man Event Center Lobby b. Stage c. Back Stage d. Pre-functon Space e. Ballroom f. Ktchen g. Secondary Conventon + Feldhouse Entrance h. Loadng Dock + Event fl oor Access. Storage j. Arena Pedestran Brdge k. Open Club (operable walls to allow crculaton) l. Operable Walls m. Scoreboard n. Rbbon Board o. Wndow to Conventon + Feldhouse p. Rng q. Ice Floor r. Event Area Arena Back of House Servce Corrdor Retractable Seatng Storage Alcove Retractable Seatng Arena Concessons / Restroooms Publc Crculaton Conventon + Feldhouse Conventon Restrooms / Concessons Junor Ballroom / Meetng Rooms Conventon + Feldhouse Back of House Mechancal + Electrcal (Shared) Prvate and Party Sutes Arena Club Fxed Seats

45 45 Program Dagrams Panama Cty Beach Specal Events Center h f d d g Legend a Frst Floor (Event Level) Conventon 284 Booths seat Banquet a. Man Event Center Lobby b. Stage c. Back Stage d. Pre-functon Space e. Ballroom f. Ktchen g. Secondary Conventon + Feldhouse Entrance h. Loadng Dock + Event fl oor Access. Storage j. Arena Pedestran Brdge k. Open Club (operable walls to allow crculaton) l. Operable Walls m. Scoreboard n. Rbbon Board o. Wndow to Conventon + Feldhouse p. Rng q. Ice Floor r. Event Area Arena Back of House Servce Corrdor Retractable Seatng Storage Alcove Retractable Seatng Arena Concessons / Restroooms Publc Crculaton Conventon + Feldhouse Conventon Restrooms / Concessons Junor Ballroom / Meetng Rooms Conventon + Feldhouse Back of House Mechancal + Electrcal (Shared) Prvate and Party Sutes Arena Club Fxed Seats

46 46 Program Dagrams Panama Cty Beach Specal Events Center h f d d g Legend a Frst Floor (Event Level) Tradeshow 356 Booths a. Man Event Center Lobby b. Stage c. Back Stage d. Pre-functon Space e. Ballroom f. Ktchen g. Secondary Conventon + Feldhouse Entrance h. Loadng Dock + Event fl oor Access. Storage j. Arena Pedestran Brdge k. Open Club (operable walls to allow crculaton) l. Operable Walls m. Scoreboard n. Rbbon Board o. Wndow to Conventon + Feldhouse p. Rng q. Ice Floor r. Event Area Arena Back of House Servce Corrdor Retractable Seatng Storage Alcove Retractable Seatng Arena Concessons / Restroooms Publc Crculaton Conventon + Feldhouse Conventon Restrooms / Concessons Junor Ballroom / Meetng Rooms Conventon + Feldhouse Back of House Mechancal + Electrcal (Shared) Prvate and Party Sutes Arena Club Fxed Seats

47 Panama Cty Beach Specal Events Center Panama Cty Beach, Florda Opton 2

48 48 Panama Cty Beach Pro forma (Opton 2) $ Operatng Budget SPECIAL EVENTS EVENTS CENTER CENTER 12 Month Operatng 12 Month Operatng 1st Stablzed Year 1st Stablzed Year Number of Events Reference 153 Pad Attendance 306,600 Net Rental Income from Events $233,500 Faclty Fee Income 154,500 Tcket Convenence Income 134,000 Net Order Fee/Fulfllment-Phone/Web 42,500 Ancllary Income Concessons $381,798 Caterng $71,800 Noveltes $15,877 Parkng $142,000 Total Ancllary Income $611,475 Total Event Income $1,175,975 Other Income Advertsng (Net after Comm.) $297,500 Namng Rghts (Net after Comm.) $340,000 Luxury Seatng & Club Seatng $85,000 Sutes $106,250 Party Sutes $59,500 Lodge Boxes $0 Mscellaneous $2,000 Total Other Income $890,250 Adjust Gross Income $2,066,225 Indrect Expenses Salares & Benefts (Full & Part-Tme) $950,000 Materals, Supples & Servces $927,065 Base Management Fee $0 Total Indrect Expenses $1,877,065 Net Operatng Revenue before Incentve Fee, Captal Improvement Reserve Fund, Property Taxes & Debt Servce Payments. Thousand $220,810 $189,160

49 49 Panama Cty Beach Pro forma (Opton 2) # OF TICKET AVERAGE TOTAL AVERAGE TOTAL GROSS RENTAL REIMBURSED AVERAGE TOTAL NET FACILITY NET TICKET NET NET NET NET TYPES OF EVENTS PERF PRICE ATTND ATTND ATTND ATTND TICKET SALES INCOME INCOME (LOSS) ATTND ATTND FEE CONV ORDER/FULFILL CONCESSIONS CATERING NOVELTIES PARKING TOTALS FAMILY SHOWS Famly shows 15 $ ,000 45,000 3,000 45, ,000 30,000 (10,500) 67,500 18,000 15,000 35, ,000 Total 15 $ ,000 45, ,000 30,000 (10,500) 67,500 18,000 15,000 35, ,000 SPORTING EVENTS Basketball - College 16 $ ,000 16,000 4,000 64, ,000 6,000 N/A N/A N/A 102, Backetball - HS, AAU 22 $ , ,000 55,000 22,000 N/A N/A N/A 17, Volleyball 6 $ , ,100 10,500 6,000 N/A N/A N/A 3, Wrestlng 6 $ , ,000 15,000 6,000 N/A N/A N/A 4, Cheerleadng 6 $5.00 1,500 9,000 1,500 9,000 45,000 6,000 14, Gymnastcs 6 $ , ,000 15,000 6,000 4, Mscellaneous 10 $ , ,000 25,000 10,000 8, Total 72 49,100 97,100 1,061,500 62, , CONCERTS Concerts Major 7 $ ,000 28,000 4,000 28,000 1,400,000 35,000 (6,000) 42,000 56,000 15,000 44, ,749 28,000 Concerts Mnor 6 $ ,000 18,000 3,000 18, ,000 30,000 (9,000) 27,000 36,000 12,500 28, ,128 25,000 Total 13 46,000 46,000 2,030,000 65,000 (15,000) 69,000 92,000 27,500 73, ,877 53,000 MISCELLANEOUS WWE 1 $ ,000 4,000 4,000 4, ,000 5,000 6,000 8, , ,000 PBR 2 $ ,000 8,000 4,000 8, ,000 10,000 12,000 16, , ,000 Relgous 10 $5.00 3,000 30,000 3,000 30, ,000 20, , Consumer Shows 9 $5.00 5,000 45,000 5,000 45, ,000 18, , Speakers Bureau 4 $ ,000 12,000 3,000 12, ,000 20, ,600 1, Banquets/Partes 15 $ , , (1,000) , Trade Shows 12 $0.00 1,000 12,000 1,000 12, , ,000 40, Total , , , ,000 (1,000) 18,000 24, ,400 71, ,000 GRAND TOTAL 153 $ , ,600 2, ,600 $4,856,500 $260,000 ($26,500) $154,500 $134,000 $42,500 $381,798 $71,800 $15,877 $142,000 $1,175,975

50 50 Panama Cty Beach Specal Events Center Panama Cty Beach, Florda Program Data Programmed Values Notes EXHIBIT FLOOR / AMATEUR SPORTS ANNEX - OPTION 2: REDUCED PROGRAM W/ 2 COURTS SPACE PROGRAM: MAIN EXHIBIT HALL (CAN ALSO BE USED FOR BALLROOM & MEETING ROOM SPACE) COLUMN-FREE EXHIBIT FLOOR 17,250 SQ. FT. 115' x 150'. Space for 2 b'ball courts. PRE-FUNCTION CONCOURSE/LOBBY 3,625 SQ. FT. 25' clear wdth concourse - one sde and one end. PUBLIC RESTROOMS 1,150 SQ. FT. CONCESSIONS 400 SQ. FT. 4 ponts-of-sale BACK-OF-HOUSE STORAGE 1,725 SQ. FT. BACK-OF-HOUSE SERVICE CORRIDOR 1,840 SQ. FT. 16' wde SUBTOTAL NET AREA: 25,990 SQ. FT. BALLROOM / MEETING ROOMS MAIN BALLROOM 0 SQ. FT. JUNIOR BALLROOM / MEETING ROOMS (60' x 120') 0 SQ. FT. PRE-FUNCTION CONCOURSE/LOBBY 0 SQ. FT. PUBLIC RESTROOMS 0 SQ. FT. BACK-OF-HOUSE STORAGE 0 SQ. FT. BACK-OF-HOUSE SERVICE CORRIDOR 0 SQ. FT. SUBTOTAL NET AREA: 0 SQ. FT. KITCHEN & CATERING MAIN EXHIBIT HALL KITCHEN 0 SQ. FT. Included wth man Events Center. SUBTOTAL NET AREA: 0 SQ. FT. MECHANICAL & ELECTRICAL MAIN ELECTRICAL ROOM 0 SQ. FT. Shared wth Events Center Man Electrcal Room ELECTRICAL CLOSETS 100 MAIN TELEPHONE ROOM 0 SQ. FT. Shared wth Events Center SOUND SYSTEM ROOM 0 SQ. FT. Shared wth Events Center MAIN MECHANICAL ROOM 0 SQ. FT. Shared wth Events Center Man Mech. Room AHU ROOMS 0 SQ. FT. Assume rooftop or ntersttual locatons for AHU's. SUBTOTAL NET AREA: 0 SQ. FT. CIRCULATION/WALLS/PARTITIONS WALLS/PARTITIONS/CHASES 2,599 SQ. FT. Assume 10% of net heated area SUBTOTAL: 2,599 SQ. FT. NON-HEATED AREA LOADING 50% TOTAL GROSS HEATED AREA: TOTAL NON-HEATED AREA: 28,589 SQ. FT. 400 SQ. FT. 400 SQ. FT. 800 SQ. FT. ANNEX TOTAL GROSS AREA: (HEATED & NON-HEATED) 29,389 G.S.F. TOTAL EVENTS CENTER + ANNEX GROSS AREA: 193,204 G.S.F. (OPTION 2)

51 51 Program Dagrams Panama Cty Beach Specal Events Center h f d g Legend a Frst Floor (Event Level) Basketball 4 Courts + 2 Courts - Opton 2 (Reduced Program) a. Man Event Center Lobby b. Stage c. Back Stage d. Pre-functon Space e. Ballroom f. Ktchen g. Secondary Conventon + Feldhouse Entrance h. Loadng Dock + Event fl oor Access. Storage j. Arena Pedestran Brdge k. Open Club (operable walls to allow crculaton) l. Operable Walls m. Scoreboard n. Rbbon Board o. Wndow to Conventon + Feldhouse p. Rng q. Ice Floor r. Event Area Arena Back of House Servce Corrdor Retractable Seatng Storage Alcove Retractable Seatng Arena Concessons / Restroooms Publc Crculaton Conventon + Feldhouse Conventon Restrooms / Concessons Junor Ballroom / Meetng Rooms Conventon + Feldhouse Back of House Mechancal + Electrcal (Shared) Prvate and Party Sutes Arena Club Fxed Seats

52 Panama Cty Beach Specal Events Center Panama Cty Beach, Florda Opton 3

53 53 Panama Cty Beach Pro forma (Opton 3) $ Operatng Budget SPECIAL EVENTS CENTER EVENTS CENTER 12 Month Operatng 12 Month Operatng 1st Stablzed Year 1st Stablzed Year Number of Events Reference 130 Pad Attendance 277,750 Net Rental Income from Events $197,500 Faclty Fee Income 154,500 Tcket Convenence Income 134,000 Net Order Fee/Fulfllment-Phone/Web 42,500 Ancllary Income Concessons $358,738 Caterng $36,800 Noveltes $15,877 Parkng $142,000 Total Ancllary Income $553,415 Total Event Income $1,081,915 Other Income Advertsng (Net after Comm.) $297,500 Namng Rghts (Net after Comm.) $340,000 Luxury Seatng & Club Seatng $85,000 Sutes $106,250 Party Sutes $59,500 Lodge Boxes $0 Mscellaneous $2,000 Total Other Income $890,250 Adjust Gross Income $1,972,165 Indrect Expenses Salares & Benefts (Full & Part-Tme) $950,000 Materals, Supples & Servces $852,065 Base Management Fee $0 Total Indrect Expenses $1,802,065 Net Operatng Revenue before Incentve Fee, Captal Improvement Reserve Fund, Property Taxes & Debt Servce Payments. Thousand $220,810 $170,100

54 54 Panama Cty Beach Pro forma (Opton 3) # OF TICKET AVERAGE TOTAL AVERAGE TOTAL GROSS RENTAL REIMBURSED AVERAGE TOTAL NET FACILITY NET TICKET NET NET NET NET TYPES OF EVENTS PERF PRICE ATTND ATTND ATTND ATTND TICKET SALES INCOME INCOME (LOSS) ATTND ATTND FEE CONV ORDER/FULFILL CONCESSIONS CATERING NOVELTIES PARKING TOTALS FAMILY SHOWS Famly shows 15 $ ,000 45,000 3,000 45, ,000 30,000 (10,500) 67,500 18,000 15,000 35, ,000 Total 15 $ ,000 45, ,000 30,000 (10,500) 67,500 18,000 15,000 35, ,000 SPORTING EVENTS Basketball - College 16 $ ,000 16,000 4,000 64, ,000 6,000 N/A N/A N/A 102, Backetball - HS, AAU 15 $ , ,500 37,500 15,000 N/A N/A N/A 12, Volleyball 5 $ , ,750 8,750 5,000 N/A N/A N/A 2, Wrestlng 6 $ , ,000 15,000 6,000 N/A N/A N/A 4, Cheerleadng 5 $5.00 1,500 7,500 1,500 7,500 37,500 5,000 12, Gymnastcs 6 $ , ,000 15,000 6,000 4, Mscellaneous 10 $ , ,000 25,000 10,000 8, Total 63 43,750 91,750 1,034,750 53, , CONCERTS Concerts Major 7 $ ,000 28,000 4,000 28,000 1,400,000 35,000 (6,000) 42,000 56,000 15,000 44, ,749 28,000 Concerts Mnor 6 $ ,000 18,000 3,000 18, ,000 30,000 (9,000) 27,000 36,000 12,500 28, ,128 25,000 Total 13 46,000 46,000 2,030,000 65,000 (15,000) 69,000 92,000 27,500 73, ,877 53,000 MISCELLANEOUS WWE 1 $ ,000 4,000 4,000 4, ,000 5,000 6,000 8, , ,000 PBR 2 $ ,000 8,000 4,000 8, ,000 10,000 12,000 16, , ,000 Relgous 10 $5.00 3,000 30,000 3,000 30, ,000 20, , Consumer Shows 6 $5.00 5,000 30,000 5,000 30, ,000 6, , Speakers Bureau 4 $ ,000 12,000 3,000 12, , , ,600 1, Banquets/Partes 10 $ , , (1,000) , Trade Shows 6 $0.00 1,000 6,000 1,000 6, , ,500 15, Total 39 95,000 95, ,000 76,000 (1,000) 18,000 24, ,900 36, ,000 GRAND TOTAL 130 $ , ,750 2, ,750 $4,754,750 $224,000 ($26,500) $154,500 $134,000 $42,500 $358,738 $36,800 $15,877 $142,000 $1,081,915

55 55 Panama Cty Beach Specal Events Center Panama Cty Beach, Florda Program Data Programmed Values Notes EXHIBIT FLOOR / AMATEUR SPORTS ANNEX - OPTION 3: NO EXHIBIT HALL OR ADD'L. COURTS SPACE PROGRAM: MAIN EXHIBIT HALL (CAN ALSO BE USED FOR BALLROOM & MEETING ROOM SPACE) COLUMN-FREE EXHIBIT FLOOR 0 SQ. FT. PRE-FUNCTION CONCOURSE/LOBBY 0 SQ. FT. PUBLIC RESTROOMS 0 SQ. FT. CONCESSIONS 0 SQ. FT. BACK-OF-HOUSE STORAGE 0 SQ. FT. BACK-OF-HOUSE SERVICE CORRIDOR 0 SQ. FT. SUBTOTAL NET AREA: 0 SQ. FT. BALLROOM / MEETING ROOMS MAIN BALLROOM 0 SQ. FT. JUNIOR BALLROOM / MEETING ROOMS (60' x 120') 0 SQ. FT. PRE-FUNCTION CONCOURSE/LOBBY 0 SQ. FT. PUBLIC RESTROOMS 0 SQ. FT. BACK-OF-HOUSE STORAGE 0 SQ. FT. BACK-OF-HOUSE SERVICE CORRIDOR 0 SQ. FT. SUBTOTAL NET AREA: 0 SQ. FT. KITCHEN & CATERING MAIN EXHIBIT HALL KITCHEN 0 SQ. FT. Provdes caterng to Events Center Club and Sutes. MECHANICAL & ELECTRICAL MAIN ELECTRICAL ROOM ELECTRICAL CLOSETS MAIN TELEPHONE ROOM SOUND SYSTEM ROOM MAIN MECHANICAL ROOM AHU ROOMS SUBTOTAL NET AREA: 0 SQ. FT. 0 SQ. FT. 0 SQ. FT. 0 SQ. FT. 0 SQ. FT. 0 SQ. FT. 0 SQ. FT. SUBTOTAL NET AREA: 0 SQ. FT. CIRCULATION/WALLS/PARTITIONS WALLS/PARTITIONS/CHASES 0 SQ. FT. Assume 10% of net heated area SUBTOTAL: 0 SQ. FT. NON-HEATED AREA LOADING 50% TOTAL GROSS HEATED AREA: TOTAL NON-HEATED AREA: 0 SQ. FT. 0 SQ. FT. 0 SQ. FT. 0 SQ. FT. ANNEX TOTAL GROSS AREA: (HEATED & NON-HEATED) 0 G.S.F. TOTAL EVENTS CENTER + ANNEX GROSS AREA: 163,815 G.S.F. (OPTION 3)

56 56 Program Dagrams Panama Cty Beach Specal Events Center h Legend a. Man Event Center Lobby b. Stage c. Back Stage d. Pre-functon Space e. Ballroom f. Ktchen g. Secondary Conventon + Feldhouse Entrance h. Loadng Dock + Event fl oor Access. Storage j. Arena Pedestran Brdge k. Open Club (operable walls to allow crculaton) l. Operable Walls m. Scoreboard n. Rbbon Board o. Wndow to Conventon + Feldhouse p. Rng q. Ice Floor r. Event Area Frst Floor (Event Level) Basketball 4 Courts - Opton 3 (Events Center wthout Annex) Arena Back of House Servce Corrdor Retractable Seatng Storage Alcove Retractable Seatng Arena Concessons / Restroooms Publc Crculaton Conventon + Feldhouse Conventon Restrooms / Concessons Junor Ballroom / Meetng Rooms Conventon + Feldhouse Back of House Mechancal + Electrcal (Shared) Prvate and Party Sutes Arena Club Fxed Seats

57 Panama Cty Beach Specal Events Center Panama Cty Beach, Florda Budget Projectons

58 58 Panama Cty Beach Specal Events Center Panama Cty Beach, Florda Budget Projectons It s dff cult to project a constructon cost of a new venue based strctly on a wrtten buldng program. Constructon costs are profoundly mpacted by the venue s sze, archtectural character and chosen materals, buldng systems and technology, ste development requrements, etc. It s also mportant when budgetng a new constructon project to also nclude other related costs, such as the cost of land, roadway mprovements, utltes and other needed nfrastructure, FF&E costs (furnture, f xtures & equpment), project contngences and cost escalaton due to nfl aton, and soft costs (desgn fees, expenses, surveys, geotechncal nvestgatons, materal testng, legal costs, pre-openng expenses, etc.). Therefore, to assst n recommendng an approprate overall project budget, we have looked at project costs of other comparable venues, and are usng the average cost of those venues n dollars and adjusted for the Panama Cty Beach market. There s currently a notceable escalaton n buldng prces across-the-board, and that wll eventually need to be consdered for potental constructon n or beyond. Snce t s We are usng the average cost of those venues n dollars and adjusted for the Panama Cty Beach Market. mpossble to forecast where the constructon clmate wll be 2 to 3 years from now, the budget numbers shown below are n dollars. An addtonal budget cushon for escalaton should be consdered. Also, because a ste has yet to be chosen for the Events Center, the budget estmates below are based on an assumed ste wth relatvely few ssues. If a ste s chosen that requres ntense nfrastructure, medaton, etc. then ths wll escalate the budget accordngly. In addton, no ste acquston costs or any requred off-ste nfrastructure or roadway mprovements have been ncluded. Based on the followng chart that lsts comparable venues, we recommend that you budget the new Events Center usng a project budget of approxmately $304 per gross square foot. Ths would nclude all brcks and mortar hard costs, FF&E, some ste work, contngences, and soft costs n dollars. Therefore, the Event Center as programmed heren should be budgeted as follows for the three optons outlned above, excludng the cost of land and any sgnf cant on-ste parkng and off-ste nfrastructure: Opton 1 - Full Program: 239,400 gross $304/sf = $72,777,600. Use a range of $72-77 Mllon. Opton 2 Reduced Program: 193,304 gross $304/sf = $58,764,416. Use a range of $58-63 Mllon. Opton 3 Man Events Center only: 163,815 gross $304/sf = $$49,799,760. Use a range of $49-54 Mllon. Thousand

59 59 Panama Cty Beach Specal Events Center Panama Cty Beach, Florda Project Name SF Project cost (excl. land) COMPARABLE ARENA PROJECT COSTS Adjusted to Panama Cty Regon Adjusted 2015 Cost Cost /SF 2015 $ Cost/Seat 2015 $ Fxed Seats Maxmum Concert seatng Sutes Year Open ODELL ARENAS: BOK Centre - Tulsa, OK 558,000 $196,000,000 $193,648,000 $215,000,000 $385 $12,576 17,096 19, Tme Warner Cable Arena - Charlotte, NC 785,000 $260,000,000 $260,000,000 $314,000,000 $400 $16,460 19,077 18, Resch Arena - Green Bay, WI 269,300 $45,000,000 $37,305,000 $48,911,000 $182 $5,027 9,729 10, PNC Arena - Ralegh, NC 661,200 $158,000,000 $161,160,000 $228,480,000 $346 $11,585 19,722 19, Bon Secours Wellness Center - Greenvlle, SC 298,000 $63,000,000 $64,701,000 $93,662,400 $314 $6,287 14,897 15, Crown Colseum - Fayettevlle, NC 268,000 $55,000,000 $53,900,000 $79,184,000 $295 $7,673 10,320 13, Columbus Cvc Center - Columbus, GA 200,000 $45,000,000 $43,380,000 $65,262,800 $326 $8,508 7,671 9, UNCC Halton Arena - Charlotte, NC 220,000 $26,500,000 $26,500,000 $39,800,000 $181 $4,371 9,105 9, North Charleston Colseum - SC 198,000 $25,000,000 $24,100,000 $39,331,200 $199 $3,428 11,475 13, Charlotte Colseum - Charlotte, NC 465,000 $47,500,000 $47,500,000 $111,387,500 $240 $4,641 24,000 25, Averages n 2015 Dollars: 392,250 $92,100,000 $91,219,400 $123,501,890 $287 $8,056 14,309 15, Est. Costs n 2017 Dollars: $96,705,000 $95,780,370 $129,676,985 $301 $8,458 OTHER ARENAS: 1st Bank Center - Broomfeld - CO Independence Events Center - MO 180,000 $45,000,000 $40,050,000 $48,340,350 $269 $7,437 6,500 7, ,308 $60,000,000 $51,000,000 $56,100,000 $308 $9,672 5,800 7, Allen Event Center - TX 192,000 $52,600,000 $49,970,000 $54,917,030 $286 $8,752 6,275 8, Santa Ana Star Center - Ro Rancho NM Covell Centre -Youngstown, OH Cedar Park Events Center - TX 165,000 $47,000,000 $43,710,000 $51,140,700 $310 $8,523 6,000 7, ,000 $42,000,000 $36,120,000 $43,596,840 $258 $7,389 5,900 7, ,000 $55,000,000 $55,000,000 $60,500,000 $334 $8,897 6,800 8, Averages n 2015 Dollars: 178,218 $50,266,667 $45,975,000 $52,432,487 $294 $8,445 6,213 7, Est. Costs n 2017 Dollars: $52,780,000 $48,273,750 $55,054,111 $309 $8,867 Averages for all Arenas n 2015 Dollars: Est. Costs for all Arenas n 2016 Dollars: 311,988 $76,412,500 $74,252,750 $96,850,864 $290 $8,202 11,273 12, $80,233,125 $77,965,388 $101,693,407 $304 $8,899

60 Panama Cty Beach Specal Events Center Panama Cty Beach, Florda Project Delvery Optons and Schedules

61 61 Panama Cty Beach Specal Events Center Panama Cty Beach, Florda Project Delvery Optons and Schedules Desgn and constructon of the new Events Center would requre approxmately 2 ½ to 3 years to complete, assumng there are no substantve delays for fundng, permts or poltcal approvals. The schedule s somewhat dependent on the project delvery method chosen. Followng s a lst of recommended delvery methods for consderaton: Desgn/Bd/Buld Ths s the most tradtonal delvery method where the desgn team prepares desgn and constructon documents, ssues for bds, and selects the lowest-bdder for constructon. On a project of ths magntude, ths process normally takes the longest tme and the bddng process doesn t support the selecton of the most qualf ed constructon company but rather the company proposng the lowest prce for constructon. Desgn and constructon of the new Specal Events Center would requre approxmately 2 ½ -3 years to complete. Constructon Manager-at-Rsk Ths delvery method doesn t substantally change the role of the desgn team; however, a constructon manager (CM) s selected based on qualf catons (and sometmes also the cost of fees and general condtons), and the CM works closely wth the Owner and desgn team to provde prcng and constructablty nput. Wth the CM-at-Rsk approach, the trade contracts at stll bd out, and frequently n a fast-tracked way to speed up the start of constructon; however, ths approach helps facltate the selecton of the best qualf ed and experenced CM. Desgn/Buld Wth ths delvery method, there s a sngle desgn/buld entty that contracts wth the Owner. Normally, the desgn team contracts as a sub to the general contractor. The desgn/buld approach, when successful, can result n better schedule and cost control wth fewer legal clams. However, there are several varatons of desgn/buld. The two most common are 1) qualf catons-based desgn/buld selecton process, and 2) compettve bddng to desgn/buld compettors based on brdgng documents prepared by a desgn crtera archtect. Integrated Project Delvery Ths s a relatvely new delvery method that requres a tr-party or poly-partner agreement between the owner, archtect, and contractor, and perhaps other key partcpants. The entre team s then ncentvzed to work together collaboratvely to delver the project wthn the budget and schedule parameters and wth a goal of havng no change orders and clams. Hybrd approach for Panama Cty Beach A hybrd approach to delvery would be to contnue wth desgn servces for the Events Center as a task order to the master agreement wth The Sports Force, and then engage a constructon manager usng one of the delvery methods above Thousand

62 Panama Cty Beach Specal Events Center Panama Cty Beach, Florda Next Steps

63 63 Panama Cty Beach Specal Events Center Panama Cty Beach, Florda Next Steps The recommended next steps are outlned below but not necessarly n chronologcal order: Follow up on the Sports Medcne / Center for Human Development component through addtonal research and through nput from the clent. Revew the content and recommendatons of ths report wth the clent and other stakeholders, as needed. Incorporate clent comments and nput, f needed, and ressue the Fnal Report. Obtan poltcal approvals to proceed wth the project as outlned n the Fnal Report. Choose one of the 3 program/budget optons. Identfy potental stes, and conduct due dlgence revews of the preferred stes. Select the preferred ste. Develop updated pro forma and/or f nancal analyss based on the estmated project cost for the f nal approved buldng program and dentf ed ste. Identfy revenue sources needed to fund the land purchase and constructon of the new Events Center. Proceed ahead wth full A&E desgn servces for the Events Center and any related ancllary development. Select the preferred project delvery method and the preferred constructon manager. Establsh the Guaranteed Maxmum Prce budget wth the CM (or other method of establshng a targeted budget dependng on the chosen delvery method). Close on f nancng. Procure constructon trade contracts. Complete constructon and occupy the new Events Center. Thousand

64 Panama Cty Beach Specal Events Center Panama Cty Beach, Florda Thank You

65 Panama Cty Beach Specal Events Center Panama Cty Beach, Florda Case Studes

66 66 Alfred Lawson, Jr. Multpurpose Center Tallahassee, Florda Project Descrpton Florda A&M Unversty s Teachng Gymnasum, off cally named the Alfred Lawson, Jr. Multpurpose Center, s a 9,639-seat mult-purpose arena n Tallahassee, Florda. It was bult n 2009 and t s home to the Florda A&M Unversty basketball team. The Alfred Lawson, Jr. Multpurpose Center s the second bggest arena n Tallahassee, Florda. Planned uses nclude Wrestlng, Concerts, Plays, Comedy, Entertanment, and other performances. The Lawson Center was the Tallahassee stop of Flordan actress/snger/natve Arana Grande s Honeymoon Tour n Constructon Completed: 2009 Meetng Rooms N/A $ Constructon Cost THEN NOW $40 Mllon $44 Mllon Exhbton Space N/A Basketball Seats 8,470 Arena Seats 9,639 Seatng Capacty Thousand

67 67 Bobby Tully Gymnasum Tallahassee, Florda Project Descrpton The Bobby Tully Gymnasum s a 2,500-seat mult-purpose arena n Tallahassee, Florda, that opened n It s home to the Florda State Unversty Semnoles volleyball team. Pror to the Donald L. Tucker Center openng n 1981, t was home to the men s basketball team as well. Today, the Tully Student Recreaton department serves a varety of ntramural sports. A generous donaton to the volleyball program by Lucy McDanel of over $1 mllon allowed for the replacement of the gym fl oor, the nstallaton of padded seats and new lghtng. In November of 2000 the Gym was off cally renamed Lucy McDanel Court at Robert Tully Gym n honor of her generous donatons to the volleyball program. Constructon Completed: 1956 Meetng Rooms N/A $ Constructon Cost Exhbton Space N/A Arena Seats 2,500 Seatng Capacty Thousand

68 68 Donald L. Tucker Cvc Center Tallahassee, Florda Project Descrpton Coverng 18,000 square feet, ths versatle arena can accommodate 1,000 people for banquets, as well as receptons for up to 2,000 guests. The arena has 13,800 upholstered seats for sportng events, concerts, tourng Broadway Productons and Famly Shows. As a concert venue, the arena can seat between 2,372-12,041 spectators. For a conventon center set-up, t offers 18,900 square feet n the man arena, plus 35,000 square feet n the adjonng exhbt hall. In addton, 16,000 square feet of meetng room space s avalable. Concerts, sportng events, trade shows, Broadway shows, conventons, ce shows, crcuses and other events are held here annually. Florda State Unversty assumed ownershp of the venue n 2014 and funded a $10 mllon renovaton. Constructon Completed: 1981 Meetng Rooms 16,000 SF $ Constructon Cost THEN NOW $33.8 Mllon $87.7 Mllon Exhbton Space 47,900 SF Theater Seats 9,596 6,000 Basketball Seats 13,800 Arena Seats 12,100 Hockey Seats Seatng Capacty Thousand

69 69 Moble Arthur R. Outlaw Conventon Center Moble, Alabama Project Descrpton The Moble Conventon Center features 317,000 total square feet of fl oor space that serves the needs of varous user groups. Wth two exhbt halls totalng 100,000 square feet, the center also offers sxteen meetng rooms and two ballrooms (10,000 square feet). The Center has a total of over 52,000 square feet of ndoor meetng space and also offers 45,000 square feet of outdoor space wth beautful vews of both Downtown Moble and the Moble Rver. Ample parkng, attentve staff, and a prme locaton make the Moble Conventon Center the premer faclty along the Gulf Coast. Constructon Completed: 1993 Meetng Rooms 52,000 SF $ Constructon Cost Exhbton Space 100,000 SF N/A Seatng Capacty Thousand

70 70 Moble Cvc Center Moble, Alabama Project Descrpton Moble Cvc Center (formerly Moble Muncpal Audtorum) s a multpurpose arena located n Moble, Alabama. Owned by the Cty of Moble and operated by SMG, the arena comprses three venues: a theater, expo hall and arena. It s sutable for large ndoor events ncludng sportng events and trade shows. The theater has seatng for 1,940 attendees whle the expo hall can seat 3,000. The largest venue of the Moble Cvc Center s the arena, wth a capacty of 10,112 spectators. Constructon Completed: 1964 Meetng Rooms 24,200 SF $ Constructon Cost THEN NOW $10 Mllon $76 Mllon Exhbton Space 28,000 SF Theater Seats 1,940 Basketball Seats 8,000 Hockey Seats 8,030 Arena Seats 10,112 Seatng Capacty Thousand

71 71 Marna Cvc Center Faclty & Theatre Panama Cty, Florda Project Descrpton The Marna Cvc Center s located n downtown Panama Cty, Florda. Bult n 1960 and renovated n 1994, the center now houses a 2,500- seat performng arts theatre, three 980 square feet meetng rooms, a fully equpped stage, and ndustry standard sound/lghtng systems. The Marna Cvc Center serves as a front door for Bay County. It attracts natonal tourng acts, compettons, and ndvdual entertaners. Ths vtal asset not only provdes a center for performng arts and cultural events, t also serves as a meetng place for busnesses and corporatons throughout the regon and beyond. Constructon Completed: 1960 Meetng Rooms 2,940 SF $ Constructon Cost THEN $6 Mllon NOW $15 Mllon (1994 Renovaton) Exhbton Space N/A Theater Seats 2,500 Seatng Capacty Thousand

72 72 Orange Beach Event Center Orange Beach, Alabama Project Descrpton The Orange Beach Event Center has establshed a strong reputaton for provdng a varety of large meetng, exhbts, and banquet facltes. It offers 18,000 square feet of space wth the capablty of breakng down nto meetng rooms. The venue can accommodate a varety of events, ncludng dnner for 1,000 patrons, a recepton for 2,000 or an exhbton wth approxmately 100 booths. The faclty provdes state-of -the-art projecton screens and a caterng ktchen. It s a multfunctonal venue on the marna that provdes a premer locaton for any event. Constructon Completed: 2001 Meetng Rooms N/A $ Constructon Cost Exhbton Space 18,000 SF N/A Seatng Capacty Thousand

73 73 Pensacola Bay Center Pensacola, Florda Project Descrpton Pensacola Bay Center (formerly Pensacola Cvc Center) s an ndoor arena located n Pensacola, Florda. It s owned by Escamba County and operated by SMG. The Bay Center has a capacty of 8,150 seats for hockey games and as many as 10,000 seats for non-hockey events. The arena covers 23,000 square feet of exhbt space and 10,000 square feet of meetng space. Varous sportng events have taken place at PBC ncludng wrestlng and rodeos. It has also been home to the U.S. Roller Skatng Natonal Champonshps on multple occasons. Constructon Completed: 1985 Meetng Rooms 10,000 SF $ Constructon Cost THEN $20.5 Mllon NOW $45 Mllon Exhbton Space 23,000 SF Hockey Seats 8,130 Arena Seats 10,000 Seatng Capacty Thousand

74 74 The Amphtheater at the Wharf Orange Beach, Alabama Project Descrpton The Amphtheater at the Wharf provdes the largest entertanment opton on the Alabama coast wth top acts, a strong sound system and a memorable experence. Snce openng ts doors n May, 2006 wth a sold out Hank Wllams, Jr. concert, the amphtheater contnues to brng n the country s hottest acts. The Amphtheater shares the Wharf Resort wth a full-servce Marna that provdes drect access to the Intracoastal Waterway, modern retal and restaurant busnesses, a move theater complex and the south s tallest ferrs wheel. Constructon Completed: 2006 Meetng Rooms N/A $ Constructon Cost THEN $9.8 Mllon NOW $13.3 Mllon Exhbton Space N/A Amphtheater Seats 9,500 Seatng Capacty Thousand

75 75 Edgewater Beach and Golf Resort Panama Cty Beach, Florda Project Descrpton As the only full-servce resort n Panama Cty Beach, Edgewater Beach and Golf Resort offers a varety of actvtes and amentes. Featurng the 13,365 square feet Grand Palm Ballroom, the newly renovated state-of-the-art conference center has 32,700 square feet of fl exble meetng space for groups of 10-2,000. Beautful adornments, fl exble room szes and a wde array of seatng optons make any event enjoyable and personal. Constructon Completed: 1985 Meetng Rooms 32,700 SF $ Constructon Cost Exhbton Space 32,700 SF Seatng Capacty Thousand

76 76 Boardwalk Beach Resort Panama Cty Beach, Florda Project Descrpton Ths resort wth hotel-room and condo rentals, a conventon center and a prvate beach s 0.6 mles from the Sgnal Hll Golf Course, 1 mle from the Coconut Creek Famly Fun Park and 2.8 mles from Shpwreck Island Waterpark. The Conventon Center at the Boardwalk Beach Resort s the Gulf Coast s most accomplshed host. Located drectly on the beach, ths fl exble meetng space offers spacous facltes along wth a wealth of optons to enhance any meetng or conference. Constructon Completed: 1977 Meetng Rooms 26,000 SF $ Constructon Cost Exhbton Space 15,000 SF Seatng Capacty Thousand

77 77 Emerald Coast Conventon Center Ft. Walton Beach, Florda Project Descrpton The Emerald Coast Conventon Center provdes 12 dstnct meetng rooms that range from ,000 square feet and combne to create the 21,000 square feet Grand Ballroom. The Center has the ablty to be conf gured for multple event experences ncludng dnners, gala functons, sports compettons and muscal events. Constructon Completed: 2003 Meetng Rooms 21,000 SF $ Constructon Cost Exhbton Space 21,000 SF Theater Seats 2,350 Seatng Capacty Thousand

78 78 Sheraton Bay Pont Resort Panama Cty Beach, Florda Project Descrpton Bay Pont Resort was recently acqured by Sheraton and s undergong an extensve renovaton. The resort wll feature a total of 319 guest rooms, ncludng 200 n the man buldng and 120 golf vllas. Renovatons wll result n a top-to-bottom transformaton of all guestrooms and publc areas, ncludng the resort s three restaurants and lounges and ts 40,000 square feet of meetng facltes. Sheraton Bay Resort wll also offer a number of ndoor and outdoor optons for meetngs. Orgnal Constructon Completed: 1984 Meetng Rooms 40,000 SF $ Constructon Cost Exhbton Space N/A Seatng Capacty Thousand

79 Panama Cty Beach Specal Events Center Panama Cty Beach, Florda Whte Papers

80 80 Whte Paper Reports on Venue Development We have provded summares of a varety of md-sze events centers to llustrate both successes and dsappontments. The communtes chosen to revew nclude Ft. Myers FL, Peora IL, Albany GA, Allen TX, Dodge Cty KS, Independence MO and Ro Rancho, NM. The smlartes to the Panama Cty Beach/Bay County projects are: 1. Before the development of the studed venues, none of these communtes had a modern ndoor events center capable of hostng amateur ndoor sports, concerts, expo/consumer shows and tourng arena events such as the crcus and ce shows. 2. Because of the lack of venues, these communtes were unfamlar wth the needs requred to compete aganst other locales to host such events. 3. The studed venues are all consdered small to md-sze ndoor events centers. 4. Wth the excepton of German Arena, all of the venues were f nanced prmarly through publc f nance vehcles. 5. The communtes studed are consdered small to md-szed muncpaltes. 6. Wth the excepton of German Arena, these were all projects developed n the hopes of becomng catalysts for economc growth. As you wll f nd n these reports, some communtes beleve ther venues to be unqualf ed success stores. The facltes have been very busy hostng a wde varety of events and have helped to spur economc development n the areas adjacent to ther locatons. However, other venues studed n ths report have experenced great dff cultes both f nancally as well as the lack of antcpated resdual economc development. The common trat among these venues was a lack of responsble plannng durng the phase when each communty was gong through ther respectve decson-makng process. Poor plannng led to rresponsble decsons regardng: 1. Whether the market exsted for a vable venue. 2. Proper sze and locaton for the venue. 3. Prudent means of faclty f nancng. 4. Responsble decsons regardng contracts wth thrd party supplers and provders. Most of the nformaton provded s also avalable va publc records and can be easly verf ed. We are also happy to assst you n the further study of these venues, or others, upon request. Thousand

81 81 German Arena Estero, Florda Project Descrpton In addton to hostng Florda Everblades hockey, Southwest Florda s premer entertanment venue offers a wde varety of choce entertanment. Snce the arena opened n 1998, t has hosted NHL, NBA, USBL, and Arena football games. Startng n 2012, the arena became the home of the Ultmate Indoor Football League s Florda Tarpons. German Arena has also hosted more than 2,000 dfferent events such as Stars on Ice, Dsney On Ice, WWE wrestlng, Jeff Dunham, Boston Pops and Lord of the Dance, along wth headlne concerts ncludng Cher, Elton John, Alan Jackson, Guns N Roses, Def Leppard, Stng, Keth Urban, Erc Church, Zac Brown Band, and Toby Keth. German Arena also features two addtonal venues for ce skatng, hockey and other amateur sports events. Constructon Completed: 1998 Meetng Rooms N/A $ Constructon Cost THEN NOW $30 Mllon $38.5 Mllon Exhbton Space N/A Hockey Seats 7,181 Center Stage 8,284 Seatng Capacty Thousand

82 82 German Arena Estero, Florda German Arena Creatng and Sustanng a New Market n Southwest Florda For many years, there were no vable ndoor sports and entertanment venues on the West Coast of Florda south of Tampa. Major events had no choce but to lmt ther South Florda events to Tampa/St. Petersburg and the Mam/Ft. Lauderdale markets, bypassng the rapdly growng Naples/Ft. Myers regon. Ths vod was f lled n 1998 when the German Arena (then Everblades Arena) opened n Estero on Interstate 75 between Ft. Myers and Naples. The arena was a unque phenomenon n the venue ndustry as t was 100% prvately f nanced and developed wthout a major league tenant. It was conceved by Peter Karmanos (owner of the NHL Carolna Hurrcanes) and Detrot busnessman Crag Brush. Both Karmanos and Brush owned second homes n the regon and were staunch belevers n the potental that the market possessed. The venue was planned under the assumptons that: 1. Southwest Florda had the populaton base and dsposable ncome to support ndoor sports and entertanment events. 2. Many homeowners and wnter vacatoners n the area came from strong hockey markets such as Detrot and Chcago leadng Brush and Karmanos to beleve a mnor league hockey team could be successful. 3. No major ndoor skatng and hockey rnks exsted n the area. Karmanos and Brush thought a properly developed venue wth multple rnks would have strong demand. Opened as Everblades Arena, the 30-acre faclty conssts of: 1. Arena seatng capacty of 7,181 for hockey and skatng events wth 26 sutes. Capacty of 8,500 for concerts and famly shows. 2. Addtonal Ice Rnk for publc amateur ce skatng and hockey league. 3. Addtonal rnk wth synthetc surface sutable for roller bladng, roller hockey and amateur sports. 4. The 171,000 square feet faclty also ncludes a restaurant, bar, merchandse store, skate rental and locker rooms. More than adequate parkng s owned and operated by the arena. Before openng, major promoters, agents and managers were reluctant to book events n Everblades Arena because there was lttle precedent for major arena events n Southwest Florda. Smply put, there had been no modern facltes to host large ndoor events the regon was relatvely unknown to the ndustry executves n New York and Los Angeles. Aggressve marketng efforts by the venue s owner/operator (Gale Force Sports and Entertanment) encouraged promoters to take ntal rsk n both the market and the arena. Early bookngs and prof table events ncluded Elton John, Bob Dylan, WWE, Champons on Ice and Rverdance. From the orgnal openng, the arena has been a success. The ECHL Florda Everblades have consstently been one of the most f nancally successful mnor league franchses n the country. Addtonal tenants nclude the arena football Florda Tarpons. The venue hosts approxmately 100 tcketed events per year ncludng NHL pre-season games, NCAA Holday Hockey Tournament, ECHL hockey, Indoor Football, major concerts, famly shows, ndoor motorsports, consumer shows and other tourng arena events. In addton, the two adjacent facltes are constantly busy wth publc ce and nlne skatng, hockey leagues and amateur sports. More than 100 event days are f lled each year wth smlar amateur events. Concluson Karmanos and Brush were vsonares and bult a venue capable of realzng ther expectatons. Aggressve management and bookng, combned wth dlgent operatons and mantenance have pad dvdends. Intervewed for ths study was Frank Lapsley longtme arena manager for SMG and recently named the new General Manager for the North Charleston Colseum, Conventon Center and Theater. Frank was the General Manager for German Arena from 1997 through *Note Sms Hnds, one of the authors of ths report, served as the Vce Presdent of Arena Management for Gale Force Sports and Entertanment (owner/operator of German Arena) whle the venue was beng developed and opened. Thousand

83 83 Peora Cvc Center Peora, Illnos Project Descrpton Peora Cvc Center s a conventon center located n downtown Peora, Illnos. It has an arena, a theater, an exhbt hall and meetng rooms. It was bult n 1982 and completed an expanson to expand ts lobby and meetng facltes n The ste of the conventon center was bult where the former Jefferson Hotel once stood. The hotel was a ste along the Underground Ralroad. Carver Arena s the home of the Bradley Unversty Braves men s basketball team and the Peora Rvermen Southern Professonal Hockey League ce hockey team (and prevous ncarnatons of the Rverman n the IHL, ECHL and AHL), and was formerly home to the Peora Prates arena football team. Constructon Completed: 1982 Meetng Rooms 16,889 SF $ Constructon Cost (Orgnal Project Sze) THEN $64.2 Mllon NOW $76 Mllon Exhbton Space 108,668 SF Hockey Seats 9,919 Concert Seats Basketball Seats 12,036 11,433 Seatng Capacty Thousand

84 84 Peora Cvc Center Peora, Illnos Peora Cvc Center Success n a Mdwestern Downtown In the md-1970 s, the cvc leadershp of Peora, IL was faced wth a decayng downtown dstrct f lled wth empty storefront, lack of qualty resdences and a dramatc reducton n traff c to the few retalers that stll remaned n downtown. Ths leadershp group embarked on a plan to develop a mult-purpose venue capable of hostng major concerts and sports events, f ne arts performances and regonal conventons, trade and consumer shows. They envsoned a faclty complex that ncludes an arena, theater and exhbton/meetng hall. Ther efforts to obtan the requred fundng was ntally met wth local skeptcsm that a venue such as ths would be a colossal falure. Opponents questoned the vablty of major entertanment and sports events beng remotely nterested n playng a smaller, non-glamorous market such as Peora. Vsons of a seldom-used venue generatng large operatng losses were parts of the campagn to defeat the Cvc Center ballot ntatve. Fortunately, the postve voters prevaled and the desgn and constructon of the Peora Cvc Center began n the late 1970 s. The decson was also made to create the Peora Cvc Center Authorty to serve as both the owner and overseer of the venue s ongong operaton. Operatng costs and future mprovements would be funded through operatng revenues as well as the tourst hotel and restaurant taxes generated from the Cvc Center s presence. The Peora Cvc Center opened n 1982, consstng of three dfferent venues that were all connected wth one another. The three ntal components were: 1. Arena 10,000+ seats for concerts, basketball and hockey. The f rst event was a Kenny Rogers concert n The arena s also home to Bradley Unversty men s basketball and Peora Rver Men hockey. 2. Theater 2,200 seats for tourng Broadway shows, symphony performances and corporate assembles (Caterpllar corporate off ces are across the street from the center). 3. Exhbt Halls A&B, Meetng Rooms Approxmately 50,000 square feet of exhbt and meetng space. The f rst event n the Exhbt Hall was the Peora Home and Garden Show. Wthn the f rst decade of operaton, the Peora Cvc Center outperformed expectatons by hostng leadng concert artsts, becomng home to a very successful Broadway seres and hostng numerous regonal conferences and conventons. In addton to local Peora resdents, tckets were beng purchased by resdents n a mle radus from the center. One notceable byproduct of the actve venue was the openng of new downtown restaurants and the renovaton of the adjacent Pere Marquette Hotel. In the early 1990 s, the Peora Cvc Center Authorty made the decson to contract wth the faclty management f rm SMG to handle day-to-day operatons and event bookngs. The Authorty wanted to ensure that the venue would contnue to attract prestgous events and maxmze avalable revenues. The Cvc Center s success led to the need of an expanson of the meetng and conference capabltes. In 1992, an addtonal 64,000 square feet of exhbt space was added, brngng the net total of avalable exhbton space to over 100,000 square feet. Addtonal meetng rooms were also added saw an addtonal expanson and renovaton that totaled over $55 mllon. Included n the new constructon was: 1. 40,000 square feet n new net exhbt space. 2. Grand Ballroom 27,000 square feet venue that s the largest ballroom n a 100 mle radus. 3. The Great Hall Attractve publc space lnkng the Exhbt Halls to the Arena and Theater. 4. Expanded and mproved Theater Lobby and new Box Off ce. 5. Lexus Club and new sutes n the Arena. The Peora Cvc Center acheved ts sought after status as the most effectve catalyst for downtown economc mpact. The most recent expanson of the Cvc Center was bult n conjuncton wth a total renovaton to the adjacent Pere Marquette Hotel and the constructon of a new Courtyard by Marrott. Both hotels are also now connected to the Cvc Center. Havng recently celebrated the Cvc Center s 30th brthday, the communty now vews the venue as a very successful generator of economc development and a source of local prde that hgh level sports and entertanment events regularly perform n Peora. Intervewed for ths report was Don Welsh, Presdent and CEO of the Peora Conventon and Vstors Bureau. Don prevously served as the General Manager of the Cvc Center and as the Presdent/GM of the Pere Marquette hotel. Thousand

85 85 Albany James H. Gray, Sr. Cvc Center Albany, Georga Project Descrpton Wth the openng of the Albany Mall n 1976, most long-establshed f rms closed ther stores n downtown Albany. Mayor James H. Gray, Sr. led an effort to revtalze the downtown area by constructng a 10,240-seat cvc center. The arena was named n honor of Gray after hs sudden death n The Albany Cvc Center was also desgned to be an arena and a conventon center. Constructon Completed: 1985 Meetng Rooms 6,000 SF $ Constructon Cost Exhbton Space 46,000 SF Concert Seats Dsney on Ice Seats Basketball Seats 10,711 6,570 8,436 Seatng Capacty Thousand

86 86 Albany James H. Gray, Sr. Cvc Center Albany, Georga Albany (GA) James Gray Cvc Center Unfulflled Expectatons Smlar to many small to md-sze Southern ctes, Albany was faced wth a declnng downtown dstrct n the late 1960 s and 1970 s. Wth the openng of the Albany Mall n 1976, most long-establshed f rms closed ther stores n downtown Albany. Mayor James H. Gray, Sr. led an effort to revtalze the downtown area by constructng the Albany Cvc Center. The venue was desgned to host a varety of events and featured: 1. Arena wth full capacty of 10,000.The arena was named n honor of Gray after hs sudden death n Capablty exsts to create a reduced half-house capacty of approxmately 6,000 seats by droppng a large curtan behnd the stage and movng t forward. 2. Exhbt space of 46,000 square feet Created by the retractable seatng on the man arena fl oor. 3. Meetng Rooms totalng 6,000 square feet. The arena s a part of the Albany Cvc Center Complex, a group of entertanment venues located n downtown Albany that also ncludes the hstorcal 965-seat Muncpal Audtorum and the 2,500 capacty Veterans Memoral Amphtheater. The Albany Cvc Center was envsoned by ts core supporters as a key tool for downtown revtalzaton by attractng hgh level concerts, sports events and conventons. The capactes were chosen because t was the leadershp s belef that the ablty to host over 10,000 people was needed to attract bg name entertanment. Early success stores for the Cvc Center ncluded hostng the Southeastern Conference Women s basketball tournament and the full array of tourng famly shows such as Rnglng Brothers Crcus and Dsney on Ice. The Cvc Center also became home to varous ndoor arena football teams and mnor league basketball franchses. Not taken nto serous consderaton was the large number of local resdents that possess lttle or no dsposable ncome. Almost 40% of Albany area resdents lve below the poverty lne and almost 60% of resdents under the age of 18 are below the poverty lne. Albany has been rated as one of the most economcally dstressed communtes n the Unted States. Lack of dsposable ncome became a major factor n the poor tcket sales for many of the events that appeared n the early years of the Albany Cvc Center s exstence. As word spread throughout the entertanment and sports busness, many attractons and artsts became reluctant to book dates n Albany. Another unque characterstc of Albany s that 75% of the local populaton s Afro Centrc meanng a very small porton of the area s Caucasan or Hspanc demographcs that most tourng events hope to attract. Event numbers and related attendance began to drop vrtually every year. The Cvc Center contnues to be successful n hostng urban events and has posted multple sell-outs for Steve Harvey and Tyler Perry. Industry executves famlar wth Albany beleve that the Cvc Center s not the proper sze and functon for the communty. Concert promoters are scared of the large 10,000 seat capacty and recommend a smaller venue of approxmately 5,000 seats. In contrast, local meetng and conference planners feel more busness could be generated f an addtonal 25,000+ square feet of qualty exhbt and meetng space exsted. Concluson the Albany Cvc Center was not properly szed n ts creaton for the both the opportuntes and challenges that exst n the Albany communty. The arena s too bg and the exhbt/meetng component s too small. Intervewed for ths case study was John Mazzola, long tme veteran executve n the arena and conventon center management ndustry. John served as the General Manager of the Albany Cvc Center for a number of years. Thousand

87 87 Allen Events Center Allen, Texas Project Descrpton The Allen Events Center s a 6,275 f xed-seat mult-purpose arena located n Allen, Texas, a northern suburb of Dallas. The arena opened n November The center hosts the home games of the ECHL s Allen Amercans, Champons Indoor Football s Texas Revoluton, and the relaunched Dallas Sdekcks of the Major Arena Soccer League. Snce 2012, the center also hosts the Lone Star Conference Men s and Women s Basketball Champonshps n early March. The Mss Texas pageant relocated to the center for 2012 and Constructon Completed: 2009 Meetng Rooms N/A $ Constructon Cost THEN NOW $52 Mllon $57 Mllon Exhbton Space N/A Soccer Seats 6,006 Hockey Seats 6,275 Concert Seats 8,600 Seatng Capacty Thousand

88 88 Unted Wreless Arena Dodge Cty, Kansas Project Descrpton The Unted Wreless Arena s a mult-purpose venue n Dodge Cty, Kansas. There s a conference center attached to the arena and there s a hallway that connects ths to Boothll Casno. The arena s owned by Dodge Cty and Ford County. Unted Wreless Arena and conference center s managed by Venuworks (venuworks.com). It was orgnally known as the Dodge Cty Specal Events Center before Unted Wreless purchased the namng rghts to the faclty. The conference center s one large space that can be subdvded nto three separate areas. The arena has a seatng capacty of 5,500 spectators. The arena has become home to the Dodge Cty Law of the Champons Indoor Football league. Constructon Completed: 2011 Meetng Rooms 7,000 SF $ Constructon Cost THEN NOW $58 Mllon $64 Mllon Exhbton Space N/A Spectator Seats 5,500 Seatng Capacty Thousand

89 89 Slversten Eye Centers Arena Independence, Mssour Project Descrpton The Slversten Eye Centers Arena (formerly the Independence Events Center) s a 5,800-seat mult-purpose arena n Independence, Mssour. It currently hosts the home games of the Mssour Mavercks n the ECHL and the Mssour Comets of the Major Arena Soccer League. The center hosts more than 100 events every year, wth a very large spectrum of events ncludng trade shows, professonal sportng events, festvals, communty events, concerts and ts prmary tenant, Independence Pro Hockey. Constructon Completed: 2009 Meetng Rooms N/A $ Constructon Cost THEN NOW $60 Mllon $66 Mllon Exhbton Space N/A Concert Seats Hockey Seats 7,000 5,800 Seatng Capacty Thousand

90 90 Santa Ana Star Center Ro Rancho, New Mexco Project Descrpton Santa Ana Star Center s a 7,000-seat mult-purpose arena n Ro Rancho, New Mexco, a suburb of Albuquerque. It s part of a larger Cty Centre project, whch also ncludes a new cty hall. Santa Ana Star Casno purchased the namng rghts to the arena n a f ve-year, $2.5 mllon deal sgned n July The arena was prevously known as Ro Rancho Events Center. In Aprl 2009, the cty of Ro Rancho awarded Global Spectrum as the management company for the Santa Ana Star Center. Constructon Completed: 2006 Meetng Rooms N/A $ Constructon Cost THEN NOW $47 Mllon $55 Mllon Exhbton Space N/A Hockey/Rodeo Seats 6,000 Concert Seats 7,500 Seatng Capacty Thousand