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Feasibility Study of a Potential New Youth and Amateur Sports Complex in Mounds View, Minnesota ●Page 45 <br />INDUSTRY TRENDS4 <br />COVID-19 Pandemic Effects &Recovery <br />Since early 2020,the negative impact of the COVID-19 pandemic on the sports/recreation,event,entertainment,retail,hospitality and <br />tourism industries cannot be understated.Cancellations and postponements of nearly all events and gatherings through the end of <br />2020 and early 2021 occurred.Most live event activity throughout the country was cancelled,postponed or shifted to a virtual format <br />through mid-2021.These conditions,however,will not be permanent.The timeline for full industry recovery is still somewhat <br />uncertain.Late 2021 and early 2022 saw a widespread loosening of public assembly restrictions and began to manifest a general <br />return of consumer confidence,travel and participation in all types of event activities. <br />From the perspective of a potential new Youth and Amateur Sports Complex in Mounds View,it is important to consider how the <br />planned product will be positioned following this highly-unusual period.Careful planning during this period could lead to significant and <br />cost-effective product development over the next economic recovery and growth cycle and beyond.Near-term planning,marketing <br />and sales efforts associated with the proposed sports facility project should be able to capitalize on this unique timing.Subsequent <br />operational planning will certainly take into account the evolving needs and best practices facing such facilities in a post-COVID <br />environment (including emphasis on flex spaces,attendee/participant social distancing,PPE and other health/safety policies, <br />amenities and operating practices).A best practices approach developed by Legends,CSL’s parent company,is summarized below. <br />As a long-term planning document,the findings and conclusions presented herein are believed to be relevant with respect to a post- <br />pandemic recovery within the context of the likely timeframe of facility development and operation of a potential new Youth and <br />Amateur Sports Complex in Mounds View.For example,the timeline of facility development would most likely represent construction <br />completion and commencement of operations in 2024 or later.Indications suggest that the industry will most likely be in a post-COVID <br />environment by that time,with a significant portion of event activity nationwide functioning consistent with the pre-COVID environment <br />and a portion of activity continuing to grow or evolve.