Laserfiche WebLink
Page 72 of 73 <br /> <br /> Fitness Programming and Management of fitness facility <br /> Swim Lesson program partnership with Centennial School District Community Education <br /> <br />The Hybrid Model will reduce overall operating deficits by approximately $380,000 over the first <br />five years. <br /> <br />Financial Operating Budget Analysis <br />ISG used very conservative projections for revenue and expenses in developing the operating <br />budget projections. The Study detail identifies several areas where expenses can be further reduced <br />and revenue enhanced. <br /> <br />Even with the conservative nature of the projections the Recreation and Community Center achieve <br />a cost recovery of 92% of total expenses by Year Three in both management models. Beginning in <br />Year Three the average annual operating deficit averages between $150,000 for the Hybrid Option <br />to $170,000 for the City Managed Option. These expenses include an annual City Administrative <br />Allocation of over $150,000 for City support services. The expenses also include an annual <br />allocation to a Long Term Capital Replacement and Maintenance Reserve Fund to support projected <br />future facility maintenance and upkeep. This annual allocation begins at $60,000 in Year Two and <br />increases to over $80,000 by Year Four. Over the first twenty years of operation the Reserve Fund <br />accrues over $1,800,000 for Capital maintenance needs. <br /> <br />Future Rec Center Enhancement and Expansion <br />The Study identified several main areas for strategic Rec Center expansion and enhancement. <br />These include: <br /> Sports Center <br />o Court Sport Center with 6 basketball courts that can configure to 10 volleyball <br />courts, multiple pickle ball courts and be sub-divided for great programming <br />flexibility <br /> Can also attract sport tournaments and generate economic impact <br /> Can be positive net revenue generator for the Rec Center <br /> Potential for outside investor/managing partner for the project <br />o Climbing Wall/gym space <br />o Indoor walking track <br /> Community meeting and function space <br />o Expansion of meeting and function space to support community programming or <br />organizational use <br /> Outdoor Components <br />o Take advantage of available space on site for additional outdoor elements that <br />support and complement the indoor facilities of the Rec Center <br />o Outdoor fitness course/stations <br />o Ropes Course <br />o Sand volleyball court <br />o Dog park <br /> <br />Timeline <br />From the time that re-opening of the Recreation Center is approved and funded it will reasonably <br />take six months to prepare for re-opening. Key milestones in this timeline are the following: