Recreation/Senior Center and Aquatic Center Expansion Task Force Agenda and Packet 2016 06 29

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New Facility Development Activity In the process of collecting comparative data,the project team also identified new facility development activity going on in the region.The Town of Windsor recently broke ground on a major expansion of its existing center; planned completion is scheduled for September 2016. New recreation and aquatics facilities are also being considered by the cities of Commerce City, Lafayette, Longmont, Loveland and Thornton, as well as the Carbon Valley Recreation District, if funding can be secured. In all cases, the agencies involved are expecting new recreation facilities to contribute to the growth and livibility of their communities. Advertising The Recreation and Senior Services catalog is published three times per year and features all classes.The Recreation &Senior Services division engages social media, specifically Facebook. The Louisville website provides information and direct links for on line registration. IV. FINANCIAL ANALYSIS A. Facility Concepts All pro-forma assumptions were created utilizing projected square foot allotments provided by Sink Combs Dethlefs, as a building program has, and continues to evolve.At this time, approximately 50,000 square feet are anticipated being added to the 57,400 square feet of the existing building for a total of approximately 107,400 square feet. B. Assumptions The operational budget planning for the expansion of the Louisville Recreation/Senior Center uses a conservative approach to estimating expenses and projecting additional revenues, based on an understanding of the conceptual project,the best available market area information, and integrating with current practices. Existing revenues and expenditures are considered along with the projected operations of expanded fitness and aquatics. While an initial budget provides a baseline, it is anticipated that revenues during the first few years of operation with an expanded facility may exceed these projections for several reasons. • Leading up to and during the first year of operation, marketing and promotion efforts and costs will be elevated to attract an expanded population. • Particularly in years one and two,the facility interest and therefore attendance/participation will likely be higher than in subsequent years when the "newness" of the expanded spaces declines. All figures are estimated 2016 dollars and estimate probable costs and revenues.There is no guarantee that the estimates and projections will be met, and there are many variables that cannot be accurately determined during this conceptual planning stage, or may be subject to change during the actual design and implementation process. 12 Recreation&Senior Center Expansion Feasibility Study 16