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REGIONAL EVENT CENTER FOR CHELAN AND DOUGLAS COUNTIES

REGIONAL EVENT CENTER FOR CHELAN AND DOUGLAS COUNTIES. GLOBAL ENTERTAINMENT CORPORATION. December 13, 2005. SITE PLAN. EVENT LEVEL. SUITE LEVEL. EXTERIOR RENDERING. PUBLIC FACILITY DISTRICT. What Is It? Why Is It Formed? How Are They Formed? What Powers Does It Have?

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REGIONAL EVENT CENTER FOR CHELAN AND DOUGLAS COUNTIES

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  1. REGIONAL EVENT CENTER FOR CHELAN AND DOUGLAS COUNTIES GLOBAL ENTERTAINMENT CORPORATION December 13, 2005

  2. SITE PLAN

  3. EVENT LEVEL

  4. SUITE LEVEL

  5. EXTERIOR RENDERING

  6. 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? • Critical Dates • What Resources Does It Have?

  7. 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

  8. REGIONAL EVENT CENTER FINANCING SOURCES Annual Debt Service = $2.200 (000s)

  9. BENEFITS TO THE COMMUNITY • Job creation: 50 FTE plus 200 part time employees • 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

  10. “No Action” Risk • Loss Of Future Revenues And Growth • Loss Of Quality Of Life Project For The Entire Community

  11. NEXT STEPS

  12. REGIONAL EVENT CENTER FOR CHELAN AND DOUGLAS COUNTIES GLOBAL ENTERTAINMENT CORPORATION December 13, 2005

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