Lethbridge Exhibition Park Economic & Tourism Driver Community Builder
History Established in 1897 Built in 1912 Host The World Dry Farming Congress Fire in 1925 destroys main pavilion buildings Heritage Hall built 1926 South Pavilion 1961 North Pavilion 1971 West Pavilion 1988 Main Pavilion 2000 Facilities owned and operated by Lethbridge & District Exhibition. Land Leased from the City of Lethbridge (2031)
Our Mandate Serving population base of ~ 280,000 Economic and Tourism Driver for Lethbridge Community Builder Over 850,000 visitors annually $81 Million Economic Impact Annually (2005)
How We Got Here Review Joint Committee City of Lethbridge & Lethbridge & District Exhibition (2009-2012) Financial Review Facility Condition Audit of all buildings Market and Needs Assessment Examining 6 Options - Choosing By Advantages (CBA) Multiple Accounts Evaluation Framework Study
Resulting in Comprehensive Market & Needs Assessment Business Case Funding Strategy Conceptual Designs & Capital Cost projections Construction Schedule
Market & Needs Assessment 1998- Multipurpose Convention Centre City of Lethbridge needs assessment done by PriceWaterhouse Coopers PwC 2005-2006 Embrace the Challenge Mannecon Business Strategies - Market Analysis and opportunities, Demand for Facilities and Marketing 2006 Reputation / Brand Audit Summary Kick Creative Group Inc. 2006 Facility Market Study 2007 Tracking Study Summary Kick Creative Group 2009 Report Brand Audit Study 2010 Multiple user group assessment (presentations to Joint Committee) 2010 Exhibitor, Chamber, and Community survey 2011- MAEF industry and stakeholder interviews 2012 Facility Tours and Facilities Comparison (Exhibition Park, Saskatoon Prairieland & Red Deer Westerner Park) And more
Market & Community Needs Assessment Highlights Exhibition Park is vital part of the City s economic and social health Condition and function of current Exhibition Park is not meeting current demands of the community Community (residents, businesses and stakeholders) of Lethbridge support a long term solution for EP and there some impatience for the planning to begin To attract conventions to Lethbridge we must have facilities that can accommodate tradeshow, banquet & meetings spaces under one roof Demand for meeting space in Lethbridge is unmet and growing
Design Principles Open span connected tradeshow space min ceiling height of 30-40 feet Higher finished meeting & convention space Incorporate the views of Henderson Lake Separate agriculture space Flexible multi-use space to maximize rentals Distinct back and front of houses Allow for future expansion
Business Case Highlights The redevelopment of Exhibition Park and the replacement of existing facilities will generate 2 major sources of additional revenue Existing (what we currently do) Enhanced (meeting current unmet demand, waiting lists for H&G and Ag Expo & show growth) Incremental (brand new revenue opportunities)
Business Case Highlights Conservative projections (margin 9.1 %) Realistic and based on validated information provided by planners and industry Operations and maintenance costs will be the responsibility of Exhibition Park and is accounted for in their business case Business case allows for possible capital reserve for future capital reinvestment and/or debt servicing
Economic Impact of Project Direct & Indirect Economic Benefit (Lethbridge & region) FTE During Construction (2015-2018) $ 70,000,000 750 Provincial & Federal Tax Revenue $ 21,000,000 Direct & Indirect Economic Benefit (specific to portion in incremental operational increase) FTE At Steady State (2020-2030) $ 30,000,000 700 Provincial & Federal Tax Revenue $ 10,000,000
Exhibition Park Site Design
Trade & Convention Centre (Phase 1)
Trade & Convention Centre
250,000 Sq ft Trade & Convention Indoor open span connected tradeshow space 172,000 sq ft Kitchen 8,000 sq ft (capable of hosting 2000 hot meals per seating) Meeting & Convention Space 25,000 sq ft Administration 5,000 sq ft Storage, maintenance & mech 30,000 sq ft Lobby & Common Areas 10,000 sq ft
Trade & Convention Floor Plan
Agriplex (Phase 2)
Agriplex Floor Plan
75,000 sq ft Agriplex (Phase 2) 100 x 200 square foot dirt floor arena 150 to 175 livestock pens at 10 x 10 each 12 to 15 dedicated livestock wash bays seating for 1,000 to 1,500 Plus a concession, gallery space, show office etc.
Exhibition Park Capital Cost Facility Component Area in Sq Ft Total Estimated Cost Phase 1 Construction 250,000 $62,651,000 Phase 2 Construction 75,000 $15,680,200 Construction Work Total 325,000 $78,331,000 Furniture, Fixtures & Equipment $ 1,500,000 Site Development Costs $11,000,000 Total Cost $90,831,200
Construction Schedule
Funding Strategy Funding for the Exhibition Park Redevelopment Project could come from a combination of several sources, which could include: Lethbridge & District Exhibition contribution: Capital Cost Avoidance Capital Asset Offset Long term operating cost coverage Municipal, Provincial & Federal capital grants Other - Community / Corporate
Key Components of the plan Maintains current operations & programing during construction Enhances existing Exhibition Park programming Meets the needs of Convention Planners not currently coming to Lethbridge Meets the Community demand & expectations Capital reinvestment potential through capital reserve plan Significant employment & economic generator during/after construction Business Case supports a sustainable Exhibition Park into the future
Next Steps Community and Stakeholder Engagement (Jan-June 2013) Presentation to City Council for inclusion in the CIP (March 25, 2013 at 1 pm)