REGIONAL EVENT PUBLIC FACILITY DISTRICT FOR CHELAN AND

DOUGLAS COUNTIES

REGIONAL EVENT PUBLIC FACILITY DISTRICT FOR CHELAN AND

DOUGLAS COUNTIES

April 2006

Wenatchee’s WaterfrontWenatchee’s Waterfront

SITE PLANSITE PLAN

EVENT LEVELEVENT LEVEL

SUITE LEVELSUITE LEVEL

EXTERIOR RENDERINGEXTERIOR RENDERING

PUBLIC FACILITY DISTRICT 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?• 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?• What Resources Does It Have?

PUBLIC FACILITY DISTRICT 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

REGIONAL EVENT CENTER FINANCING SOURCESREGIONAL EVENT CENTER FINANCING SOURCES

MPEC Sales Tax, 75, 3%

MPEC Net Operating

Income, 920, 40%

PFD 10% (parking), 60,

3%

PFD 5% (ticketing), 440, 18%

LOTS, 200, 8%PFD

Douglas, 250, 10%

PFD Chelan, 440, 18%

$ 920 MPEC Net Operating Income

75 MPEC Sales Tax

440 PFD Chelan

250 PFD Douglas

200 LOTS

440 PFD 5% (Event Ticketing)

60 PFD 10% (Event Parking)

$ 2.385 Total Available for Debt Service

Annual Debt Service = $2.200

(000s)

BENEFITS TO THE COMMUNITYBENEFITS TO THE COMMUNITY• Job creation: 150 FTE• 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

• Anchor to Wenatchee’s waterfront redevelopment: Over $265 million in projects are slated in the next four years which will have a county wide revenue impact

• Job creation: 150 FTE• 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

• Anchor to Wenatchee’s waterfront redevelopment: Over $265 million in projects are slated in the next four years which will have a county wide revenue impact

REGIONAL EVENT CENTER FOR CHELAN AND DOUGLAS COUNTIES

REGIONAL EVENT CENTER FOR CHELAN AND DOUGLAS COUNTIES

April 2006