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GLOBAL ENTERTAINMENT CORPORATION REGIONAL EVENT CENTER FOR CHELAN AND DOUGLAS COUNTIES GLOBAL ENTERTAINMENT CORPORATION December 13, 2005
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GLOBAL ENTERTAINMENT CORPORATION SITE PLAN
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GLOBAL ENTERTAINMENT CORPORATION EVENT LEVEL
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GLOBAL ENTERTAINMENT CORPORATION SUITE LEVEL
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GLOBAL ENTERTAINMENT CORPORATION EXTERIOR RENDERING
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GLOBAL ENTERTAINMENT CORPORATION PUBLIC FACILITY DISTRICT What Is It? Why Is It Formed? How Are They Formed? What Powers Does It Have? How Are They Governed? What Type Of Projects Can Be Constructed And Operated? Critical Dates What Resources Does It Have? What Is It? Why Is It Formed? How Are They Formed? What Powers Does It Have? How Are They Governed? What Type Of Projects Can Be Constructed And Operated? Critical Dates What Resources Does It Have?
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GLOBAL ENTERTAINMENT CORPORATION PUBLIC FACILITY DISTRICT Will Not Limit The Bonding Capacity Of Any City Or County Will Not Lower The Bond Rating Of Any City Or County Will Require The City Of Wenatchee To Be The Originator Of The PFD –May Be Required To Provide Credit Support Debt Service Reserve Fund Will Be In Place Prior To Opening Of The Event Center Annual Capital Repair And Replacement Fund Will Be Reserved For Each Year Of Operation –Obligate Property To The Event Center Development –Transfer Existing Facility To The New Event Center Development Will Not Limit The Bonding Capacity Of Any City Or County Will Not Lower The Bond Rating Of Any City Or County Will Require The City Of Wenatchee To Be The Originator Of The PFD –May Be Required To Provide Credit Support Debt Service Reserve Fund Will Be In Place Prior To Opening Of The Event Center Annual Capital Repair And Replacement Fund Will Be Reserved For Each Year Of Operation –Obligate Property To The Event Center Development –Transfer Existing Facility To The New Event Center Development
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GLOBAL ENTERTAINMENT CORPORATION REGIONAL EVENT CENTER FINANCING SOURCES $ 920MPEC Net Operating Income 75MPEC Sales Tax 440PFD Chelan 250PFD Douglas 200LOTS 440PFD 5% (Event Ticketing) 60PFD 10% (Event Parking) $ 2.385Total Available for Debt Service Annual Debt Service = $2.200 (000s)
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GLOBAL ENTERTAINMENT CORPORATION BENEFITS TO THE COMMUNITY Job creation:50 FTE plus 200 part time employees Job training:Wenatchee Valley College is committed to providing a facility maintenance technician degreed program where work-study would take place at our center Tourism impact: Other similar facilities have visitor numbers of over 500,000 annually based on the events calendar provided by the management company Support of local sports: The tournament potential and support of local training opportunities is immense: hockey, figure skating, high school regional and statewide tournament, college regional and statewide tournaments Potential impact: Training facility for the 2010 Olympics in Vancouver BC – Highway 97 Corridor connection into Canada Job creation:50 FTE plus 200 part time employees Job training:Wenatchee Valley College is committed to providing a facility maintenance technician degreed program where work-study would take place at our center Tourism impact: Other similar facilities have visitor numbers of over 500,000 annually based on the events calendar provided by the management company Support of local sports: The tournament potential and support of local training opportunities is immense: hockey, figure skating, high school regional and statewide tournament, college regional and statewide tournaments Potential impact: Training facility for the 2010 Olympics in Vancouver BC – Highway 97 Corridor connection into Canada
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GLOBAL ENTERTAINMENT CORPORATION “No Action” Risk Loss Of Future Revenues And Growth Loss Of Quality Of Life Project For The Entire Community Loss Of Future Revenues And Growth Loss Of Quality Of Life Project For The Entire Community
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GLOBAL ENTERTAINMENT CORPORATION NEXT STEPS
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GLOBAL ENTERTAINMENT CORPORATION REGIONAL EVENT CENTER FOR CHELAN AND DOUGLAS COUNTIES GLOBAL ENTERTAINMENT CORPORATION December 13, 2005
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