Laserfiche WebLink
<br />City Council Regular Meeting - 05/09/05 <br />Minutes - Page 14 <br /> <br />developing a target that provided Task Force direction and focus <br />for long-term sustainability of an additional revenue source of <br />$250,000 annually. That amount represented $100,000 to cover <br />annual operating costs deficits; and $150,000 to cover annual <br />depreciation and capitalization. <br /> <br />Mr. Jacobson advised that current Task Force activity "themes" <br />were being considered and reviewed to address the additional <br />$250,000 revenue need, including sales tax; corporate <br />sponsorship; corporate philanthropy; user fees; operating <br />efficiencies; on/off season events; and a state bonding bill; with <br />more themes developed as additional ideas and events emerged. <br />Mr. Jacobson noted that each of those "themes" were being <br />analyzed and worked into a business model. <br /> <br />Mr. Jacobson noted that, in developing a business model, several <br />goals had been established: <br />Goal 1: Find revenues and savings that total $250K per <br />year for sustaining the OVAL long-term by analyzing <br />potential of "themes" reviewed by the Task Force and how <br />to address each; <br /> <br />Goal 2: Assess usage of facilities by not-for-profit groups <br />and events to determine benefits; determine "soft dollar" <br />costs by groups/events that are not charged for facility use; <br />and reassess break-even points for events charged for <br />facility use. <br /> <br />Mr. Jacobson advised that the Task Force would continue to <br />work and provide updates to the Council in May and June, prior <br />to their final report to the Council at the end of June. <br /> <br />Councilmember Ihlan noted, for Council consideration, that the <br />Task Force presentation was scheduled after the Council would <br />be asked to make a policy decision related to award of contract <br />for repairs at the OVAL, and questioned whether the Task Force <br />report could be received prior to that Council decision, and <br />additional agenda items that would be time-consuming at that <br />meeting. Councilmembers and Mayor Klausing concurred. <br /> <br />Mr. Jacobson was amenable to meeting the Council's preferred <br />