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Page 5 of 7 - Leased space for non-profit organizations - Birthday parties - Weddings - Indoor farmers market - Childcare - Café - Size The community centers range in size from 12,876 square feet (Fridley) to 142,497 square feet (Roseville – Fairview Community Center). The size of the center largely depends on the number of different services and activities offered and the types of facilities. For example, the indoor waterpark at the Shoreview center and the ice arena at the Roseville Skating Center both take up a large portion of those facilities’ overall space. Budget Staff reviewed the 2017 budgets for the Fridley, Mounds View, New Brighton, and Shoreview community centers, and the Roseville Skating Center. Except for Fridley, the community centers all expected to have an operating loss for 2017 ranging from an approximately $16,000 loss (Mounds View) to a $530,000 loss (New Brighton). The Fridley community center is owned by the school district and is expecting a profit of $50,000 for 2017. The Roseville Skating Center was expected to have an operating loss of approximately $100,000, but staff noted in the past they have been able to break even. The Shoreview community center had the largest operating budget for 2017 at $2,786,944. Mounds View had the smallest operating budget at $436,723. Financing Cost Staff completed an analysis of two recent community center projects in the metro to determine an estimated cost for the building construction (see Attachment H). A standard level development cost, including kitchen, restroom, meeting/conference room facilities, was estimated to be $300 per square foot (Rosemount). A high level development cost, including a fitness center, aquatic facility, meeting/conference rooms, and office space, was estimated to be $403 per square foot (Eden Prairie). The conceptual site plan includes a 40,000 gross square foot building. Depending on the different amenities the City Council chose to include in the building, the cost would likely range from approximately $12 million to $16 million. As mentioned earlier, the Option Agreement would allow the City to acquire the land for $1 with no infrastructure improvement costs if the City is prepared to move forward with construction within two years of the MDA approval. If the City does not acquire the property within this timeframe, the cost of the land and infrastructure improvements would increase resulting in an overall more expensive development. Funding Sources Staff has identified the following potential funding sources for the development. The spreadsheet included in Attachment I includes a more detailed breakdown of these sources.