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i;' A. � �l 1111! 1.11 ql ft VIKINGS LAKES HOTEL AND CONFERENCE CENTER EAGAN, MINNESOTA In 2017, CSL was engaged by the Eagan Convention and Visitors Bureau and the City of Eagan to determine the feasibility of developing a hotel conference center located within a larger 200-acre development that would be the new headquarters for the Minnesota Vikings of the National Football League. The master planned Viking Lakes Development is expected to include administrative offices for the Vikings, a 6,000-seat outdoor stadium, additional indoor and outdoor practice fields, as well as mixed -use office, retail, residential and entertainment offerings. As part of our engagement, CSL was responsible for developing a market demand assessment of conference and event space within the Vikings Lakes Development and recommending an appropriate size and mix of event space to accommodate this demand. We conducted extensive outreach among local, state, regional and target national events to measure the overall demand, supportable facility program and hotel room requirements. Demand was measured among state, regional and national associated events, corporate meetings and conferences, indoor/outdoor amateur sports, concerts and other entertainment events. Concurrently, we worked with members of the project team to develop a financial feasibility analysis for a hotel property that would be appropriately positioned to support group, leisure and transient lodging activity in the market. The results of the financial feasibility analysis resulted in the identification of a funding gap between the estimated cost to construct the hotel conference center property and the projected value of the property. As such we engaged the various project stakeholders in conversations regarding creative opportunities to mitigate or reduce this gap including evaluating potential options such as the costs and benefits associated with reducing the upfront capital investment in the project, discussing potential public -sector involvement opportunities and leveraging ancillary private -sector assts. In 2018, MN Eagan Ventures, a real estate arm of Minnesota Vikings ownership, announced plans to develop a 320- room hotel with 18,000 square feet of meeting space. The hotel opened in 2020. CSL International -Indoor Amateur Sports Facility Qualifications • Page 17 CSL