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0 INDUSTRY TRENDS DRAFT COPY COVID-19 Pandemic Effects & Recovery Since early 2020, the negative impact of the COVID-19 pandemic on the sports/recreation, event, entertainment, retail, hospitality and tourism industries cannot be understated. Cancellations and postponements of nearly all events and gatherings through the end of 2020 and early 2021 occurred. Most live event activity throughout the country was cancelled, postponed or shifted to a virtual format through mid-2021. These conditions, however, will not be permanent. The timeline for full industry recovery is still somewhat uncertain. Late 2021 and early 2022 saw a widespread loosening of public assembly restrictions and began to manifest a general return of consumer confidence, travel and participation in all types of event activities. From the perspective of a potential new Youth and Amateur Sports Complex in Mounds View, it is important to consider how the planned product will be positioned following this highly -unusual period. Careful planning during this period could lead to significant and cost-effective product development over the next economic recovery and growth cycle and beyond. Near -term planning, marketing and sales efforts associated with the proposed sports facility project should be able to capitalize on this unique timing. Subsequent operational planning will certainly take into account the evolving needs and best practices facing such facilities in a post-COVID environment (including emphasis on flex spaces, attendee/participant social distancing, PPE and other health/safety policies, amenities and operating practices). A best practices approach developed by Legends, CSL's parent company, is summarized below. As a long-term planning document, the findings and conclusions presented herein are believed to be relevant with respect to a post - pandemic recovery within the context of the likely timeframe of facility development and operation of a potential new Youth and Amateur Sports Complex in Mounds View. For example, the timeline of facility development would most likely represent construction completion and commencement of operations in 2024 or later. Indications suggest that the industry will most likely be in a post-COVID environment by that time, with a significant portion of event activity nationwide functioning consistent with the pre-COVID environment and a portion of activity continuing to grow or evolve. C1 am, Feasibility Study of a Potential new Youth and Amateur Sports Complex in Mounds View, Minnesota 9 Page 45