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Step 5: Economic Impact Analysis <br />In this step, Consultant will project the economic impact of the facility on an annual basis. Economic impact is <br />defined as new off-site spending that will occur in the market as a result of tournaments and events held at the <br />facility. This information is used to project economic activity from out-of-town visitors who would not be in the <br />market but for the events that will be held at the facility. <br />The results, primarily quantified as room nights generated and direct spending, are used by elected officials and <br />private developers alike to understand the impact that the venue will have on the lodging, dining, retail, <br />entertainment, and transportation industries as well as on the tax base of the municipalities that benefit from <br />new spending. <br />Consultant’s economic impact projections are developed based on projections for tournaments and events <br />throughout the pro forma and reflective of several key drivers of economic impact, including: <br />•Number of Events <br />•Number of Teams <br />•Number of Participants <br />•Number of Affiliated Spectators <br />•Percent of Participants and Affiliated Spectators from Out of Town <br />•Length of Stay <br />•Average Daily Rate (ADR) <br />•Average Daily Expenditures (ADE) <br />Step 6: Executive Summary & Recommendations <br />In this step, Consultant will produce a summary report for the project. The summary report will include an <br />overview of the market analysis and pro forma. Additionally, Consultant will work with the Client to provide <br />recommendations on the existing facility and programming plan. This will also include considerations around <br />playing surface materials, onsite amenities, parking, concessions, lighting, and more. <br />Total Price Quote: $58,500.00 + Reimbursable Travel Expenses (if applicable) <br />This quote assumes a first draft review and one round of modifications for the pro forma. The draft pro forma <br />will be delivered 8-10 weeks from the Development Planning Session. The final pro forma will be delivered <br />approximately 2-3 weeks from the draft pro forma. <br />*Travel expenses encompass flights, hotel accommodations, ground transportation and associated fees <br />(parking, tolls, etc.), and meals, which will be billed at $65 per consultant per day. <br />Please Note: This proposal is valid for 60 days from issuing date.