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From: Steve Horelan Pax: 41(612)403-3727 <br />7o: Kathy Glanzer Fax: 484-4538 Page 1 of 5, Wednesday, February 11, 1998 12: 10ae <br />Facsimile Cover Sheet <br />Imo: Kathy Glanzer <br />Company: <br />Phone: <br />Fax: 484 -4538 <br />From: Steve Morelan <br />Company: <br />Phone: +1(612)483 -3727 <br />Fax: +1(612)483 -3727 <br />Date: 2/11/98 <br />Pages including this <br />cover page: 5 <br />Comments: <br />Following is a quick analysis of the rental fees for business meetings <br />at the Old Fire Hall. My goal was to find out how much we could lower <br />the fees for meetings <2 hours, without taking in less revenue than we <br />do today. The tables are self - explanatory, but a few points of <br />clarification: <br />1. We currently rent the facility once per month for business <br />meetings @ $75 per meeting. <br />2. We have the potential to rent it four additional times per <br />month <br />if we can lower the fee. The current renter would also be charged the <br />lower fee. <br />3. There is some fixed cost associated with renting the <br />facility. As <br />you will see. I have done four separate analysis based on four <br />different assumptions ($20 -$35 /meeting). Staff should estimate which <br />fixed cost assumption is correct. <br />4. We should find out how much the new weekly renters would be <br />willing to pay. The tables simply indicate the break -even point for <br />lowering the fee. <br />5. We should set a separate fee for rentals <2 hours. Rentals <br />>2 hours should remain the same. <br />Page 2 <br />