HomeMy WebLinkAboutPACKET Stanley Park Committee 1985-11-25STANLEY PARK COMMITTEE
Monday, November 25, 1935 - 2:00 P,M,
AGENDA
1, Use of Fish Hatchery Property July 16 - 19, 1986 for
Mountain Mon Rendezvous,
2, Colorado State Fair Show and Manager's Conference -
January 6th and 7th, 1986.
3, Resignation of George Oldham (verbal) from Estes Park
Horse Show and Rodeo Committee,
4, Master Plan - Bond Issue,
Stanley Park
Indoor Arena Feasibility Study Update
In 1983, Browne, Bortz & Coddington (BBC) prepared a feasibility study on the construction
of an indoor arena at the Stanley Park Rodeo Grounds. At that time it was estimated that
approximately $850,000 would be needed to finance the construction. BBC also estimated that
with an annual debt service of $106,000 the operation of the indoor arena would loose
approximately $75,000 the first year of operation and $27,000 the fourth & fifth years.
Since the BBC study BRW prepared a master plan for the rodeo grounds which listed
improvements in three phases. The Estes Park Horse Show and Rodeo Committee has requested
funds to complete phase one in the amount of $2,000,000. A bond issue of approximately 2.5
million dollars would be required to provide sufficient funds for construstion and would
require an annual debt service of approximately $250,000.
The BBC study was updated by revising the capital costs on page 45, the updated table
now shows a net loss of $218,227 the first year and $170,566 the fifth year of operation.
The revenue may increase each year with more shows and activities, but the operating expenses
will increase also.
a. Operating costs
b. Capital costs
BBC Study Orginal Estimates
1 2 3 4 5
$ 8,600 $8,700 $ 8,800 $8,900 $8,900
106,438 106,438 106,438 106,438 106,438
c. Total Expenses
(a+b) $115,038 $115,138 $115,238 $115,338 $115,338
d. Primary Revenue 32,300 42,100 52,850 63,350 63,350
e. Secondary Revenue 8,073 12,710 18,847 24,984 24,984
f. Total Revenue
(d+e) $ 40,373 $ 54,810 $ 71,697 $ 88,334 $ 88,334
g. Net Loss (f-c) (74,665) (60,328) (43,541) (27,004) (27,004)
BBC Study - Capital Costs Updated to 2.5 Million Bond Issue
a. Operating costs
b. Capital costs
c. Total Expenses
(a+b)
d. Primary Revenue+
e. Secondary Revenue
f. Total Revenue
(d+e)
g. Net Loss (f-c)
1
1 2 3 4 5.$ 8,600 $ 8,700 $ 8,800 $ 8,900 $ 8,900
250,000 250,000 250,000 250,000 250,000
$258,600
32,300
8,073
$ 40,373
(218,227)
$258,700
42,100
12,710
$ 54,810
(203,890)
$258,800 $258,900
52,850 63,350
18,847 24,984
$258,900
63,350C,
24,984
$ 71,697 $ 88,334 $ 88,334
(187,103) (170,556) (170,556)