HomeMy WebLinkAboutMINUTES Stanley Park Committee 1983-03-16BRADFORD PUBLISHING CO., DENVER
RECORD OF PROCEEDINGS
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Stanley Park Committee
March 16, 1983
Committee: Chairman Wagner, Trustees Dannels and Wood
Attending: All
Also Attending: Mayor Tregent, Trustees Graves and Houston,
Town Administrator Hill, Police Chief Ault,
Manager Bob Scott, several members of the
Horse Show and Rodeo Committee
FEASIBILITY STUDY "INDOOR HORSE ARENA" - BROWNE, BORTZ & CODDINGTON:
Mr. Matthew Bixler and Mr. John M. Gunyou, of Browne, Bortz &
Coddington presented their Feasibility Analysis for an indoor horse
arena at Stanley Park. Mr. Bixler gave an overview of the current
facilities and then went on to point out the positive characteristics
which are: location, grandstands, grounds staff, stalls and arena,
and the reasonable fees. He stated that the negative aspects
included exhibitor parking and the exhibition facilities. Mr.
Bixler went on to elaborate on the competitive supply and demand
analysis. Mr. John Gunyou followed with the financial feasibility
analysis which covered the additional revenue which would be generated
as well as the costs of the facility. The cost to construct an
indoor arena would be between $738,800 and $847,600, depending on
the size of the structure. Major operating costs associated with
the indoor arena would be maintenance and utility related. Annual
operating costs would be expected to range from $8,600 to $8,900
by the fourth year of operation. Projected cash flow is negative
for the indoor arena. Annual operating and capital costs will
exceed $100,000, with annual projected revenues considerably less
than this amount. Annual net losses of $13,000 to $27,000 are
projected for the fourth year of operation. A lengthy question
and answer period followed. Mr. Garry Freeman, Executive Manager
of the Pinto Horse Association of America, Inc., asked if the
decision to have an indoor arena at Stanley Park would be made by
April 20, 1983, as the Pinto Horse Association would like to have
their 1984 International Championship Show at Stanley Park, but
their decision would depend on the availability of an indoor arena.
Chairman Bob Wagner stated that the Board of Trustees needed to
look at the whole urban renewal, redevelopment plan for Estes Park
and it would be several months before a decision would be made on
an indoor arena at Stanley Park.
There being no further business, the meeting adjourned.
MAR 2 21983
Ems £lm
Ann E. Jen'n, Town Clerk