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City Council Study Session Meeting Minutes • June 12, 2001 Page 7 1 Councilmember Thuesen asked Mr. Prosser if they could get some type of tax figures 2 surrounding the Stonehouse property, and the different options that have been suggested. Mr. 3 Prosser stated that was very possible to do so. 4 Mayor Cavanaugh stated that a Rate of Return Analysis would need to stand up to the universal 5 model, in order to give them a sense of what needs to be produced, and if the current structure 6 can remain. 7 A member of the audience asked if there would need to be a hypothetical idea, in order to 8 promote this idea to other establishments, such as Applebee's, or Champps, and what type of 9 profit or revenue would need to be present. Mr. Prosser said they could address that. 10 Mr. Prosser stated that they could have something prepared for the Council within sixty days 11 now that he has a better idea of what the Council is looking for. He indicated that they would 12 defer to an outside source to determine some of the figures that have been requested. 13 Mayor Cavanaugh thanked Mr. Prosser for his time. •14 Mayor Cavanaugh called for a three-minute recess. 15 Mornson concluded his presentation by stating that the on-sale operation of the property was 16 making money this year, and that they are in a much better financial position today, than they 17 were back in 1995. 18 John Fabian, the Administrator and Vice President for the Sports Boosters, came forward and 19 explained that his primary role is to oversee the charitable gambling at the Stonehouse. He stated 20 he would be happy to provide any figures regarding the charitable gambling for the Council, and 21 added that he wanted to continue to act as partners with the Council. Mr. Fabian stated that the 22 Sports Boosters does have a license for Charitable Gambling. 23 Mr. Fabian stated that Charitable Gambling formed in 1989, and since that time they have 24 donated an excess of $2,300,000 to the community. Mr. Fabian stated that, since April of 1999, 25 they have dispersed an excess of$230,000. From that money, he indicated that the Sports 26 Boosters received$60,000 to run their programs. 27 Mr. Fabian added that it is not only the Sports Boosters that benefit from the charitable 28 gambling, but the school district and the community at large, as well. 29 Councilmember Sparks asked for some example of how the charitable gambling has contributed 30 to the community. Mr. Fabian identified numerous examples. Among those examples-was •31 computer equipment, band equipment, Villagefest Organization, Senior Overnight Committee, 32 wrestling and swimming equipment, and community concerts. 33 Councilmember Thuesen stated that there is no argument that charitable gambling has 34 contributed significant funds to the community. However, he wondered if there may come a