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Backup Documents 04/12/2016 Item #10E • • • • 1 0 • • • • • • • • • Collier County Florida Spring Training Stadium & Practice Facility • An opportunity to expand Collier County's park and recreational facilities utilizing Sports Tourism, State and Private Funding. .g • • Presentation to the Collier County Board of County Commissioners • April 12, 2016 • • • • • • • • • • • • rrrrr� • • • • •r---- • C • • South Collier Regional Park- Conceptual Plan 4 • • • •• .011Imp,s____ 4",:‘4,-: z - , ,-- ���s is t e� • .611111 t. tip\ ...... / ,�' r , • �. �► „ N1I I�r • 1 - w , I t�linp1 / L • y, \ w j • 4/11/2016 Page 2 • • • • • • • • • • • • 1OE • • • • • • • • • Collier County's Opportunity • • • • Opportunity Details • • John Schuerholz, the President of the • Atlanta Braves, has toured the San Marino property and believes it is the NS or w p AND . �o optimal location for the Atlanta SASEBALL�M~ Braves' Spring Training Complex. JOHN • San Marino is a property available to SCHUERHOLZ • bring the Atlanta Braves to Collier County for the Spring Training season t:r OR,V HILL and to develop a new Spring Training Facility that could act as a catalyst for John Schuerholz President,Atlanta Braves economic development in the area. Naples Homeowner 4/11/2016 Page 3 IOE Best Practice: Tourist tax pays for Spring Training A 1 Team County TDC Funds J `� z._.---,,_ ,1 Tigers Polk Yes z 9. • Mets St. Lucie Yes , O Pirates Manatee Yes l r�-ii • Twins Lee Yes 0 0 0 ' ':\,1 — I• Red Sox Lee Yes 1 Astros & Nationals Palm Beach Yes 0--- 7__Q_27° Cardinals & Marlins Palm Beach Yes ✓ 0 0 J 4 Yankees Hillsborough Yes • Orioles Sarasota Yes Rays Charlotte Yes Phillies Pinellas Yes 25° Blue Jays Pinellas Yes ,-` ° f 83 81` 4/11/2016 Page 4 IL ili 0 Economic Impact: Lee County with 2 teams A Spring Training (6 weeks) Sport Tourism (Year round) • 2009 Lee County Spring Training • 2014 Lee County Sports Tourism Study Estimates — 1,154 fan interviews — 113 amateur sports events • Twins & Red Sox home games in Lee County • Includes additional facilities of • 73% non-resident City of Palms Park and Terry Park • 27% resident • Economic Analysis: • Economic Analysis: • - Fans with Spring Training as — 159,530 hotel room nights used by primary reason for visit players and families attending - Non-resident expenditures only events - Exclude spending during weeks when teams are practicing but not playing games • • 4/11/2016 Page 5 • • 10 • • • • • • • Economic Impact: Lee County with 2 teams • d • Spring Training (6 weeks) Sport Tourism (Year round) • 2009 Lee County Spring • 2014 Lee County Sports Training Study Tourism Estimates • $41MM + $63MM Aso • Direct Spending Direct Spending outside stadium outside stadium Source: Lee County 2009 Spring Training Study, Source: "Baseball's multimillion dollar business heats • Davidson-Peterson&Associates, May 2009 up in Lee", David Dorsey, News-Press, February 11, 2016 a 4/11/2016 Page 6 l South Collier Regional Park- Site Plan d d \� %i l STF SITE LEGEND �, i � �� Spn g .,l 9S..Pt. 'i ✓ i. Maw+ pue CIW rN�se • L -.._..__. 1 - am5 ewes i 1 la -.w Bal.'p 1 I 1 Mn �. vgwyaUs • i v j 1 ° R Na • o ■ ¢I .' .., I i +w� owsx m I Mnn u»gue?nwice ' I >alge B I 5 Otaa.apw�tore • U tF M.b�I��wlvAi i i 5?'• a ownwu� O r 1 ran c"fuw inM i � -.0'_@ • i _ i • • • • y >�° a•:.'n _ F, POPULOUS • 4/11/2016 Page 7 • • 1 0 E • • • • • • • • • • South Collier Regional Park- Site Plan • • li • _ • j • a • CO • � a i."1 L. • °1 4_„ I Igoe fa: wiw 'I ! I • U ` -- - \ • • i �, tiw 41 \ , I ti • • ,0000. cr4 • _ 4/11/2016 Page 8 A • STF Construction Cost Estimate $ 9 G $53,000,000 A national construction company(the"Company")recently Construction Cost Estimate completed two major league baseball spring training facilities in Florida.JetBlue Park for the Boston Red Sox and Estimated Total STF Costs $53,000,000 CenturyLink Sports Complex for the Minnesota Twins were built in the last three years. These two projects,along with $ many other sports facilities completed by the Company represent a solid sampling of completed projects. Data from these projects were used to assess an accurate cost opinion for the proposed Atlanta Braves training facility in Collier i County,Florida. The JetBlue Park project most closely represents the scope of the proposed Braves facility for a ground up project I` �•. _ - which was designed by Populous,Inc. and completed in 2012 in Fort Myers,Florida. JetBlue is almost an identical j 4 et� scope,although slightly larger,and was completed for CI —'y lot� • $53M.Based on the Company's assessment,the proposed .-' w_... .Eal . it-- - Braves facility,has a probable cost of$53M assuming the project is built in the next two years. jetBluePark Fort Myers,Fl 4/11/2016 Page 9 10E Funding Model : Construction $53M; Land $25M d (5) (11) (1) (2) (3) (4) Sum(1)-(4) (6) (7) (8) (9) (10) Sum(6)-(10) • Major Stadium Repair and 0 Collier County State Team Naming Total Debt Service Maintenance Insurance Operations Replacement Total Year Revenue Revenue Leases Rights Revenues (P&I) Budget Budget Budget Budget Expenses • 1 3,085,704 999,996 1,100,000 300,000 5,485,700 (3,845,700) (660,000) (300,000) (600,000) (80,000) (5,485,700) 2 3,155,504 999,996 1,100,000 300,000 5,555,500 (3,915,500) (660,000) (300,000) (600,000) (80,000) (5,555,500) • _ 3 3,222,104 999,996 1,100,000 300,000 5,622,100 (3,982,100) (660,000) (300,000) (600,000) (80,000) (5,622,100) 4 3,290,504 999,996 1,100,000 300,000 5,690,500 (4,050,500) (660,000) (300,000) (600,000) (80,000) (5,690,500) • 5 3,345,504 999,996 1,133,000 300,000 5,778,500 (4,120,500) (660,000) (300,000) (618,000) (80,000) (5,778,500) 6 3,415,754 999,996 1,133,000 300,000 5,848,750 (4,190,750) (660,000) (300,000) (618,000) (80,000) (5,848,750) 7 3,491,004• 999,,996 1,133,0000 0 300,000 5,924,000 (4,266,000) (660,000) (300,000) (618,000) (80,000) (5,924,000) 8 3,560,754 999,996 1,133,000 300,000 5,993,750 (4,335,750) (660,000) (300,000) (618,000) (80,000) (5,993,750) • 9 3,619,554 999,99 96 1,166,6,990 0 30 30 0,000 6,086,540 (4,410,000) (660,000) (300,000) (636,540) (80 C (6,086,540) 10 3,697,804 999,996 1,166,990 300,000 6,164,790 (4,488,250) (660,000) (300,000) (636,540) ran (6,164,790) • 11 3,774,554 999,996 1,166,990 300,000 6,241,540 (4,565,000) (660,000) (300,000) (636,540) (6,241,540) 12 3,854,554 999,996 1,166,990 300,000 6,321,540 (4,645,000) (660,000) (300,000) (636,540) j . (6,321,540) • 13 3,916,391 999,996 1,202,000 300,000 6,418,386 (4,722,750) (660,000) (300,000) (655,636) (80 (6,418,386) 14 3,996,641 999,996 1,202,000 300,000 6,498,636 (4,803,000) (660,000) (300,000) (655,636) (80 (6,498,636) • 15 4,078,891 999,996 1,202,000 300,000 6580,886 (4,885,250) (660,000) (300,000) (655,636) (80.' (6,580,886) 16 4,162,641 999,996 1,202,000 300,000 6,664,636 (4,969,000) (660,000) (300,000) (655,636) (80; (6,664,636) • 17 4,231,000 999,996 1,238,060 300,000 6,769,055 (5,053,750) (660,000) (300,000) (675,305) (80,' (6,769,055) 18 4,316,250 999,996 1,238,060 300,000 6,854,305 (5,139,000) (660,000) (300,000) (675,305) (80: (6,854,305) • 19 4,401,500 999,996 1,238,060 300,000 6,939,555 (5,224,250) (660,000) (300,000) (675,305) (80 (6,939,555) 20 4,491250 999,996 1,238,060 300,000 7,029,305 (5,314,000) (660,000) (300,000) (675,305) (80 (7,029,305) 21 5,562,863 - 1,275,201 300,000 7,138,064 (5,402,500) (660,000) (300,000) (695,564) (80, (7,138,064) • 22 5,654,613 1,275201 300,000 7,229,814 (5,494,250) (660,000) (300,000) (695,564) (80 (7,229,814) 23 5,748.863 1.275.201 _ 300,000 7,324.064 (5,588,500) (660.000) (300.000) (695,564) (80 (7,324,064) 411 24 5,844,863 1,275,201 300,000 7420,064 (5,684,500) (660,000) (300,000) (695,564) (80. - (7,420,064) 25 5,924,474 - 1,313,458 300,000 7,537,931 (5,781,500) (660,000) (300,000) (716,431) (80) (7,537,931) 26 6,021,724 - 1,313,458 300,000 7,635,181 (5,878,750) (660,000) (300,000) (716,431) (80 (7,635,181) 27 6,118,474 - 1,313,458 300,000 7,731,931 (5,975,500) (660,000) (300,000) (716,431) (80.' - (7,731,931) • 28 6,218,974 - 1,313,458 300,000 7,832,431 (6,076,000) (660,000) (300,000) (716,431) (80: (7,832,431) 29 6,304,313 - 1,352,861 300,000 7,957,174 (6,179,250) (660,000) (300,000) (737,924) (80 (7,957,174) 30 6,409,313 - 1,352,861 300,000 8,062,174 (6,284,250) (660,000) (300,000) (737,924) (80, (8,062,174) • Totals 134,916,332 19 999 920 36,420,556 9,000,000 200336,808 149,271,050) 19,800,000 9,000,000 19,865,758 2,400,0u_) 200,336,808 4/11/2016 PI) ' 10 • Notes to Funding Model A 1) Amount of money that Collier County would need to contribute in order to qualify for State Law 288.11631 'Retention of Major League Baseball spring training baseball franchises' program. 2) State Funds allocated to financing the STF via State Law 288.11631 'Retention of Major League Baseball spring training baseball franchises' 3) Team Lease is the sum of Facility Lease, Parking Lease, and Concession Leases paid by Atlanta Braves each year based on PBC Nationals/Astros Lease Leases are estimated to be over 30 years with payments escalating by 3% every 5 years. To be negotiated between the County and the Team. 4) Stadium Naming rights (corporate) are estimated to be $300K per year based upon current market conditions. No growth rate assigned. 5) Total Revenues are a Sum of(1) (2) (3) (4) 6) P&I estimated by Financial Advisor assuming current market conditions. 7) Major Maintenance budget based on Lee County JetBlue average budget. (Includes scoreboards, videotrons and major expenditures) 8) Stadium Insurance based upon Lee County average Insurance for JetBlue Park. 9) Stadium operations are estimated based upon Florida Sports Foundation estimate of average Grapefruit League Stadium Operations for Spring Training. Costs are estimated to increase by 3% every 5 years. Collier County may elect to add additional programming such as camps and tournaments, requiring additional costs. 10) Repair and Replacement ("R&R) includes field maintenance, seed, and upkeep. R&R costs expected to rise 3% every 5 year. 11) Total Expenses are a sum of(6) (7) (8) (9) (10) 4/11/2016 Page 11 Stadium and Training Facilities ✓ Stadium • Stadium dimensions should mirror SunTrust Park with 7,500 • fixed seats, 2,500 berm seats • • >60% under shade at start of game • • 360-degree concourse • • Indoor press box with room for 50 people • • • 6-8 ticket windows • 6 premium suites for sale • 2 suites for Braves' staff with direct outdoor private seating access • Outfield bar/ picnic area 4/11/2016 Page 12 • • 1 0 E • • • • • • • • • • Stadium and Training Facilities • • • • ✓ Training Fields • • 7 Complex fields (six full fields, and two half fields) will have the following characteristics: • Triple-A field, Double-A field, both half-fields, and 3 of the quad fields should be grass ✓ One of the quad fields should be field turf ✓ Triple-A complex field should mirror dimensions of SunTrust Park ✓ Triple-A and Double-A field should be equipped with light tower ✓ Speaker/ PA system should be in place for quad fields in order to make announcements and play music during batting practice • • 8-pack MLB pitching mounds (adjacent to ML clubhouse) • 12-pack MiLB pitching mounds (adjacent to MiLB clubhouse) • 12 covered batting cages with lighting • 4 ML batting cages wired with video technology (adjacent to ML clubhouse) "" • 8 MiLB batting cages wired with video technology (adjacent to MiLB clubhouse) • 4 out of the 8 minor league batting cages should include pitching mounds • • All batting cages should have an adjacent storage area • • ML batting cages should have adjacent video room • Agility field (40yd x 80yd) adjacent to weight rooms (80% grass/20% turf) • Covered tower in the middle of the clover fields that provides visibility to all 4 fields wired for video technology 4/11/2016 Page 13 • O • • • • • • • • Stadium and Training Facilities • ✓ Office Space - Braves • A 70,000 sq. ft. building which houses a ML clubhouse, MiLB clubhouse, • and offices is required. The entire facility should include high speed wireless internet. • All meeting rooms and multi-function space should include video conference and projector equipment (i.e. clubhouse, classrooms, lounges, conference rooms, multi-purpose room, etc..) • 10,000 sq. ft. of office space • Patios on exterior of executive offices • Large conference room with seating for 30 people • Executive offices should overlook back fields 4/11/2016 Page 14 4 rI • • 10E • • • • Ilk Stadium Authority Market Comparables d ✓ Most Recent Example: _•,� ��s Palm Beach County SPRING N TRAINING �4i o�[ j�jr • A $135 million dual team stadium is currently under Facility Use Fee construction in Palm Beach County. This complex will serve as Years Payments(Per Team) the Spring Training Home for the Washington Nationals and the Houston Astros. Palm Beach County negotiated three 1-8 $626,120 distinct fees that are paid annually by a Joint LLC formed by --- the teams. 9-20 $711,500 • By making the teams responsible for annual, consistent lease 21-28 $754,190 payments,variability of debt service income was mitigated. Total $19,580,480 • All three licenses combine for annual payments which start Parking Area Fee at $2.2MM ($1.1MM per team). These annual payments are Years Payments(Per Team) made over 28 years and escalate on a prescribed schedule every 9 years. 1-8 $101,530 • Palm Beach County utilized the State of Florida Spring Training 9-20 $115,375 Retention Program and matched the amount locally with TDC 21-28 $122,298 taxes. Total $3,175,120 • The teams are responsible for all repair, maintenance and Concession License Fee operation of the facility during Spring Training Years Payments(Per Team) • This development will require the State of Florida to 0 contribute $50MM, the County will contribute $108MM, and 1-8 $372,250 the Teams will contribute $68MM over the 30-yr life of the term. Total Construction for the project is estimated to be 9-20 $423,125 $140M M. 21-28 $448,513 Total $11,644,400 4/11/2016 Page 15 • 1OE 0 • • • • • • • • • Questions? ask G An opportunity to expand Collier County's park and • recreational facilities utilizing Sports Tourism, State and Private Funding. 0 ID • , 1- - � \ ,,\,...!..t._------ 1� 1.. i • T P •,� Ma "'I` f L r14''''' NA ill Migili,,, ,... ANIk I/ 1' s „we d r J riiiii 4/11/2016 Page 16 41 o, CD fli 2 a IOE 'V 3 :=. 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