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Agenda 09/12/2023 Item # 5B (Update on Paradise Coast Sports Complex)09/12/2023 EXECUTIVE SUMMARY Recommendation to accept an update on the Paradise Coast Sports Complex from Sports Facilities Management, LLC. OBJECTIVE: To provide an update on Paradise Coast Sports Complex (the “PCSC”). CONSIDERATIONS: The County is in the process of constructing a phased-in multi-use sports, special events and entertainment facility at the PCSC to attract and host youth, adult sports leagues, amateur tournament play and a multitude of events designed to draw tourists, local and non-local residents, participants, spectators, and event attendees. Further expansions of the PCSC are planned in the future. The County and Sports Facilities Management, LLC, (“SFM”) entered into a Facilities Management Agreement pertaining to the management of the PCSC on November 12, 2021. Since November 2021, SFM has worked diligently to operate and manage the sports complex utilizing its expertise in providing management services for athletic complex facilities. SFM is soliciting, advertising, and conducting acti vities for leagues, sporting events, concerts, tournaments, and other gatherings, including special events of substantial size and scope to maximize the use of the PCSC. SFM is present to provide an update on the current operations at Paradise Coast Sports Complex. FISCAL IMPACT: There is no fiscal impact associated with this Executive Summary. GROWTH MANAGEMENT IMPACT: There are no Growth Management Impacts associated with this Executive Summary. LEGAL CONSIDERATIONS: This item is approved as to form and legality and requires majority vote by the Board to accept staff’s report.-SRT RECOMMENDATION: Recommendation to accept an update on the Paradise Coast Sports Complex. Prepared by: Marissa Baker, Sports Complex Manager, Tourism ATTACHMENT(S) 1. PCSC Update - Presentation (PPTX) 5.B Packet Pg. 25 09/12/2023 COLLIER COUNTY Board of County Commissioners Item Number: 5.B Doc ID: 26440 Item Summary: Recommendation to accept an update on the Paradise Coast Sports Complex from Sports Facilities Management, LLC. (Aidrian Moses, Paradise Coast Sports Complex General Manager) Meeting Date: 09/12/2023 Prepared by: Title: – Corporate Business Operations Name: Marissa Baker 08/30/2023 9:30 AM Submitted by: Title: Division Director – Tourism Name: Paul Beirnes 08/30/2023 9:30 AM Approved By: Review: County Attorney's Office Scott Teach Level 2 Attorney Review Completed 08/30/2023 9:44 AM Tourism Paul Beirnes Director Completed 08/30/2023 10:28 AM Corporate Compliance and Continuous Improvement Megan Gaillard Additional Reviewer Completed 08/30/2023 7:18 PM County Attorney's Office Jeffrey A. Klatzkow Level 3 County Attorney's Office Review Completed 08/31/2023 1:18 PM Office of Management and Budget Debra Windsor Level 3 OMB Gatekeeper Review Completed 08/31/2023 3:51 PM Office of Management and Budget Christopher Johnson Additional Reviewer Completed 09/01/2023 7:07 AM County Manager's Office Dan Rodriguez Level 4 County Manager Review Completed 09/05/2023 2:24 PM Board of County Commissioners Geoffrey Willig Meeting Pending 09/12/2023 9:00 AM 5.B Packet Pg. 26 PA RADISE COAST SPORTS COMPLEX Paradise Coast Sports Complex (PCSC) Fiscal Year 22-23 Update September 12, 2023 5.B.a Packet Pg. 27 Attachment: PCSC Update - Presentation (26440 : PCSC Update) RECAP Headline: Remarkable Team Success despite challenges: •Hurricane Ian •Delayed Construction •Point of Sale (POS) limitations Success made possible: •Robust schedule of events •Va riety of revenue streams •Hardworking and Ve rsatile Team •Support of County Managers Office and Collier County Depts. •Support from Sports Facilities Companies (SFC) Corporate 5.B.a Packet Pg. 28 Attachment: PCSC Update - Presentation (26440 : PCSC Update) RECAP (cont.) Headline: Remarkable Team Success despite challenges: •Exceeded original budget after 6 months •Requested additional Cost of Goods (COGS) and revised revenue target Final Furlong: •Completing the fiscal year with the same assets that we began with •Further revision to budget requested •Additional Revenue increase and COGS request 5.B.a Packet Pg. 29 Attachment: PCSC Update - Presentation (26440 : PCSC Update) NOTA BLE EVENTS (SPORTS) •Peace River Conference Finals (October) •Alliance Cup, GCR Thanksgiving 5K (November) •FBUNC, NXT Lax, Soccer Yo uth Golden Cup (December) •College Properties Events (January) •Weston Cup, Southwest Florida Shootout (February) •Trilogy Spring Training, Pan Florida Bicycle Challenge (March) •South Florida Cup (April) •FHSAA State Championships (May) •Naples 9’s, Triple Threat (June) •FBU Top Gun (July) 5.B.a Packet Pg. 30 Attachment: PCSC Update - Presentation (26440 : PCSC Update) NOTA BLE EVENTS (NON SPORTS) •Curry Wedding (October) •Hotworks Art Show (November) •SnowFest (December) •Solid Waste Deep Well Injection Reception (January) •Wolf Stock, FOCCM Jazz Concert (February) •AY F Leadership Meetings (March) •Grow Church Easter Service (April) •Naples Dealers Kentucky Derby Party (May) •CC July 4th Fireworks (June) 5.B.a Packet Pg. 31 Attachment: PCSC Update - Presentation (26440 : PCSC Update) NOTA BLE COMMUNITY USE •Memorial Day Ceremony (May) •Factory Sunrise Yoga (Sunday) •Factory Run Club, Poker (Tuesdays) •Bingo at the Cove (Wednesdays) •Movies on the Lawn (Thursdays) •Live @ The Cove (Friday) and Sunset Saturdays •Open Play (Daily) •At/Over Capacity Local Programming Schedule (Daily) 5.B.a Packet Pg. 32 Attachment: PCSC Update - Presentation (26440 : PCSC Update) OT HER COMMUNITY IMPAC T •DSNAP Food Stamp Collection (November) •St Matthew’s House Food Distribution (Mondays) •CCPS G.A.T.E Vocational Opportunity Internships •CCPS Teacher Training •Associate Leadership Collier Events •Multiple CC department retreats and meetings 5.B.a Packet Pg. 33 Attachment: PCSC Update - Presentation (26440 : PCSC Update) UPCOMING EVENTS •Labor Day, Fall Kick Off, Unified, La Squadra Soccer (Sep) •USA To day Food and W ine Festival (Sep 30) •(Return of) Movies in Paradise (3rd Thursday) •Pop Warner and Peace River Yo uth Football (Sep & Oct) •Music in Motion Concert (ATL Rhythm Section & Pablo Cruise (Oct 28) •Doral and Alliance Cup Soccer, 3D Lacrosse (Nov) •USA Field Hockey Festival (Thanksgiving) •SnowFest (Dec) •AY F and FBU National Championships (Dec) 5.B.a Packet Pg. 34 Attachment: PCSC Update - Presentation (26440 : PCSC Update) YEAR TO DAT E (YTD) 2023 FINANCIALS Revenue Snapshot •Initial Revenue Ta rget of $1,389,743 •Revised to $1,922,474 in April •YT D (July) $1,838,739 •Final Revision $2,053,349 48% improvement in Revenue from initial 22-23 Budget Based on revenue profile of remaining events… …Weather permitting! 5.B.a Packet Pg. 35 Attachment: PCSC Update - Presentation (26440 : PCSC Update) YEAR TO DAT E (YTD) 2023 FINANCIALS Cost of Goods (COGS) Snapshot •Initial COGS budget of $488,928 •Revised to $889,365 in April •YT D (July) $850,878 •Final Revision $994,365 Initial gross profit projection of 35% April revision to 46% Final revision to 48% 5.B.a Packet Pg. 36 Attachment: PCSC Update - Presentation (26440 : PCSC Update) YEAR TO DAT E 2023 FINANCIALS Net Operating Income (NOI)Snapshot •Initial NOI Projection ($169,958) •Revised NOI Projection April ($37,664) •Final Revision NOI Projection ($11,789) NOI Improvement of $158,169 on FY 22-23 Budget NOI Improvement of $288,235 on FY 21-22 Performance Same assets 5.B.a Packet Pg. 37 Attachment: PCSC Update - Presentation (26440 : PCSC Update) THANK YOU! 5.B.a Packet Pg. 38 Attachment: PCSC Update - Presentation (26440 : PCSC Update)