11/7/96 Agenda & Packet - Laserfiche WebLink

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J. .14 r.ti r dootfb9 NSC C2002 II. Relationship of MASC as Operator to all Parties With the advent of the MASC assuming greater responsibility for the fourth rink, there is no change in the status of the other parties as far as risk or benefits. A_ Winter Season (October 15 -March 15; 1320 hours/rink). Each rink's respective partner(s)will be responsible to consume these 1320 hours. (Note: there are no unsold hours in the Twin Cities in this time period). B. Spring(March 15 - May 30)/Fall (September 1 - October 15). Each rink's respective partner(s) has the responsibility to consume 440 hours in the spring and 320 hours in the fall, for a total of 760 hours. However,the MASC will rnarket all spring/fall ice hours that are released back to the facility. Currently the MASC has parties willing to contract for 2000 hours in the spring/fall season [2000 hours divided by 4=500 hours/rink]. If the parties choose to release all of their 760 hours/rink of the spring/fall ice, the MASC is confident that all of these hours can be contracted before the facility opens. • NOTE: all hours that are marketed bythe MASC in the spring/fall pring/fall are always credited equally to all four sheets. C. Summer(June/July/August). The MASC is responsible for all summer hours. Every hour that the MASC books over 2080 hours is credited to all parties equally. III. Master Agreement We are close to incorporating all concerns of the partners in the Master Agreement. Please note that the section has been clarified to guarantee that all parties retain full rights after 25 years but have no minimum guarantee after that time. IV. Time Table November 25, 1996 -the MASC Board will meet to award Mighty Duck grants and to approve the Super Rink project. December, 1996 - all government parties need to make all contingencies final so that the Master Agreement can be executed.