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2022-11-28 - Agendas - FinalFayetteville Advertising and Promotion Commission November 28, 2022 Location: Fayetteville Town Center, 15 W. Mountain Street Commissioners: Staff: Todd Martin, Chair, Tourism & Hospitality Representative Katherine Kinney, Tourism & Hospitality Representative Chrissy Sanderson, Tourism & Hospitality Representative Elvis Moya, Tourism & Hospitality Representative Andrew Prysby, Commissioner at-large Sarah Bunch, City Council Representative Mark Kinion, City Council Representative Molly Rawn, CEO I.Call to order at 2:00 p.m. II.Old Business Agenda A.Review and approval of October 2022 minutes. III.New Business A.CEO Report, Molly Rawn. An executive overview of the previous month’s activity, issues and opportunities facing the organization. B.Financial Report, Jennifer Walker, Vice President of Finance C.Marketing Report: i.Ashley Cane, Director of Brand Strategy ii.Mike Sells, Sells Agency D.Vote. IDEALS Institute Proposal. CEO seeking authorization to sign agreement with University of Arkansas IDEALS Institute for DEI training and education for $19,995.00. E.Vote. Fayetteville Town Center Window Tinting. CEO seeking authorization to sign agreement with Architectural Glass Tinting for $27,942.35. F.Vote. Fayetteville Town Center Utilization Consultant Services. CEO seeking authorization to pursue an agreement with Jones Lang LaSalle Americas Inc. for $65,000.00 for an optimization study. G.Presentation and Vote. 2023 Budget H.2023 A&P Commission Meeting schedule I.Additions to the agenda may be added upon request from a majority of the commissioners IV.Adjourn Fayetteville Advertising and Promotion Commission Minutes October 17, 2022 Fayetteville Town Center Commissioners Present: Staff: Todd Martin, Chair, Tourism & Hospitality Representative Elvis Moya, Tourism & Hospitality Representative Andrew Prysby, Commissioner at-large Sarah Bunch, City Council Representative Mark Kinion, City Council Representative Chrissy Sanderson, Tourism & Hospitality Representative * Virtual attendance Katherine Kinney, Tourism & Hospitality Representative Molly Rawn, CEO; Jennifer Walker, VP of Finance I.Chair Martin called the meeting to order at 2:02 pm. II.Old Business A.Chair Martin asked commissioners to review the September minutes and asked if there were any additions or revisions. Hearing no additions or revisions, he stated that the minutes stood approved. III.New Business A.CEO’s Report. Molly Rawn, CEO CEO Rawn presented a report starting with a look ahead to November when the full budget would be presented for possible approval. In November we may also consider a contract with a consulting firm to work with the town center on a business model. The Experience Fayetteville Sales team played a great role in Touge Con 2022, a car show, which was a partnership with the town center, Experience Fayetteville and the Graduate. It was a very successful event. Additionally, through working with city of Fayetteville colleagues, we have secured a couple of conferences and meetings and have also been working on several leads with our city colleagues. Our entire team did an outstanding job with the World Cup event this last weekend with preliminary data showing a great event. We plan to have more information for the commission at the November meeting about this event. Rawn stated that sales and attendance are going well in the Visitors Center and this year is the first year we’ve participated in Welcoming Week and were pleased to do so. In Community Engagement, we just closed out our First Thursday season and are pleased to have had a full and successful season. Rawn also gave an update on Trick or Treat in the Ramble, which is a city led initiative with Experience Fayetteville assisting. Commissioner Moya asked how vendors could participate and Rawn said she was unclear how the city may involve vendors, but we could certainly pass that information along. Rawn continued with an update on the town center parking garage, stating that by the end of October, the parking garage equipment install would be complete. Furthermore, she stated that fall events at the town center were being booked with not many open dates in October and November. The town center’s office move is going well and should be completed next week. Also, we’ve presented the city with a new lease agreement for the town center, and we feel it outlines a more equitable arrangement for the town center and we look forward to hearing back from the city on this. The city’s Sustainability Director is asking for an extension on the solar array project for the town center so that we can know the status of the proposed lease which would have a bearing on the solar array project. Rawn will keep the commission updated on this. In presenting HMR data, Lodging collections are up 24% from prior month and 34% from September 2021. This does not include data on the last month of September which is when we would have typically held Bikes Blues and BBQ as this report represents August activity. Rawn will have information on September for the next meeting. Overall, we see an 18% increase compared to the same period in 2021. B.Financial Report. Jennifer Walker, VP Finance VP of Finance Jennifer Walker stated that HMR tax collections are at $3,347,781, year to date, which is above the seasonally adjusted budget expectations by 9%. Our projections for both revenue and expenditures are at 75% and we are over the revenue projection at 82% and under the expenditure projection at 66%. Our operating net income is $790,738 and Fayetteville Town Center is slated to beat their budget goals by the end of the year when the town center’s unearned revenue that is currently on the balance sheet is included. Chair Martin asked if VP Walker could see any trends when looking at prior year patterns with revenue. Walker said she is seeing very steady growth and nothing out of the ordinary with the exception of the Cyclo-Cross World Championships and the Garth Brooks concert in April. Commissioner Moya asked if we received any listing of new restaurants, hotels so that we could determine what factors might be influencing HMR increases. Rawn said that we could share this information with the commission on a quarterly or monthly basis and she would talk with Devin Howland, the city of Fayetteville’s Director of Economic Vitality about this data 2023 Budget Preview VP Walker showed a budget preview which factored in items such as inflation and tax revenue growth and consumer spending habits. Regarding HMR taxes, we are estimating $4.96 million with $4.2 million from restaurants and $744,000 from lodging. Short term rentals are included in the lodging numbers and currently short-term rentals are 20% of the lodging total. CEO Rawn discussed the new initiatives portion of the budget preview which include two new positions, Director of Downtown Initiatives, and a Social Media Coordinator. We also plan to produce a Tourism Master Plan and a Town Center strategic plan. Our media buy strategy will include investing in research of visitor profiles. The budget preview also includes a focus on capital investments. Our capital reserve balance is $1,600,000 and we are proposing $755,000 investments in the town center and a rough estimate of $155,000 for a back-office remodel project at Experience Fayetteville. Walker reminded the commission that we do contribute to the capital improvement line item each year. Commissioner Moya asked if the commission could see a breakdown of the current personnel positions and the proposed positions. Rawn said we could distribute an organizational chart with the budget. C. Marketing Report. CEO Rawn gave this update which included town center ads and also our consumer and leisure newsletter which shows outstanding open and click through rates. Rawn also showed our monthly sessions on the website by states and stated that Illinois continues to be a top state. She also spoke about the Visitors Guide in 2023 and that it would most likely be a digital version. D. TheatreSquared Presentation. Martin Miller, Executive Director Martin Miller, Executive Director, with TheatreSquared joined the commission meeting to give an update on TheatreSquared. Miller opened with a presentation showing reviews and information about the theatre which opened its new building in August of 2019. Miller noted that he was glad to be talking and giving the commission an update on the building fund as requested as almost all of commissioners were not on the commission when the building pledge was made in 2017. TheatreSquared is one of two producing professional theaters in Arkansas and is the largest one in the state. TheatreSquared creates each show from the ground up, hiring the director, casting the actors, building the set and more. It has almost 100 employees who do this in Fayetteville for shows only shown in Fayetteville with the exception of when a show traveled from Fayetteville to New York. Miller said that TheatreSquared does bring people into town, even during the pandemic they had people from 50 states and 19 countries streaming their shows. Miller stated that half of the ticket holders come from out-of-town zip codes. The $200,000 yearly pledge received from the commission helped meet a challenge grant from the Walton Family Foundation of $9 million dollars to build this $31.5 million dollar theatre. Other funders were the city of Fayetteville at $3.1 million and a grant from the state of Arkansas for $2.9 million. The A&P’s pledge is $200,000 a year for 15 years, or $3 million dollars. The pledge is used to pay back the construction loan made by Arvest Bank. Miller stated that this was somewhat similar to the Walton Arts Center bond issue in 2013 which resulted in a bond payment that the A&P is making for part of the Walton Arts Center renovation. Martin then showed the A&P Commission minutes from the A&P’s April 2017 meeting where the commissioners unanimously approved the pledge to TheatreSquared which satisfied both their lender and the Walton Family Foundation and allowed construction to begin not long afterwards. TheatreSquared opened in August 2019. The building is fulfilling a vision of bringing community theatre to Northwest Arkansas; it is winning architectural awards and is serving as a meeting place for the community even when there is not a show. Miller then stated that attendance at TheatreSquared is currently at 60% of pre- pandemic levels, which is similar for arts and music events across the nation. In response to this, TheatreSquared has an American Rescue Plan Act grant application in front of the city of Fayetteville now to assist in needs created by this current decline in ticket sales. Chair Martin asked for a refresher on the 2014 bond which funded the Walton Arts Center at approximately $440,000 a year which the A&P pays each year and VP of Finance Walker gave a brief refresher on that project. Commissioner Kinney asked if the commission could get more insight into the financial status of TheatreSquared and what Miller’s plans were to increase attendance. Miller stated that one of the things they did during the pandemic was to keep their staff employed to keep the specialized talent in the area and with the company. TheatreSquared has ended both of the last two years in the black and they are seeing a slight uptick in attendance at the fall shows compared to the spring shows. Chair Martin stated that per a vote by the commission last year, all amounts given by the A&P over $50,000 would require a vote by the commission and could involve more discussion and consideration by the commission. Chair Martin asked for additional financial information, specifically for the last two years. He also asked for financial information about the café operating in the TheatreSquared. It was stated that as TheatreSquared is a not for profit, it is exempt from the 2% HMR tax on food and beverage items prepared in its café. Chair Martin stated he appreciated that TheatreSquared did not lay off team. Commissioner Moya asked if he would be able to share a zip code analysis with the team to see what sort of marketing opportunities could be present and Miller said he could. Chair Martin asked for additional financial information to be sent before the November A&P meeting when the commission will be voting to approve the $200,000 payment. Additionally, Chair Martin asked Miller about the possibility of the A&P Commission having a seat on TheatreSquared board of directors, following the concept of the city of Fayetteville having a city appointment seat on the Walton Arts Center board. CEO Rawn asked a clarifying question concerning the $200,000 pledge in both this and next year’s budget and Chair Martin said he intended to keep the pledge in both this year and next year’s budget. Additionally, it was stated that Mr. Miller could attend virtually or in person or could send a designee to answer questions about financial statements. Concerning the request to ask the TheatreSquared board of directors to allocate a seat for the A&P Commission, Commissioner Bunch said she would like us to discuss this with the city’s attorney as we are comparing similarities between the city appointed seat on the Walton Arts Center. CEO Rawn stated that other A&P Commissions in the state had seats on similar organizations in their respective cities. Chair Martin clarified that Miller could certainly tell his board of directors that the seat on the board was a request from Chair Martin. After discussion, it was decided that the CEO would consult the city attorney about this request of a board seat and connect back with Mr. Miller to confirm if the commission wanted Mr. Miller to bring this request to his board of directors. E.Executive Session The commission thanked Mr. Miller for his time and moved on to the next item of business which was to vote to go into Executive Session to discuss the employment of the CEO for an annual performance review. Commissioner Kinney made a motion to go into executive session for this matter and it was seconded by both Commissioner Prysby and Commissioner Moya. After the executive session, Commissioner Kinney made a motion to approve the CEO’s employment for another year, noting that the commission was very pleased with Rawn’s performance, and to schedule another evaluation in a year. This was seconded by Commissioner Kinion and was approved unanimously. F.Welcome Signage . Commissioner Moya and CEO Rawn. The final agenda item was a discussion on welcome signage for the city of Fayetteville. This agenda item was led by Commissioner Moya. CEO Rawn showed examples of signs such as monuments and also examples of an SEC city’s welcoming sign. CEO Rawn suggested that we form a working committee to discuss this project and the commissioners were interested in doing so. CEO Rawn asked Vince to clarify how a subcommittee could meet and Vince did state that subcommittees containing more than one commissioner did need to publish when it would be meeting. Commissioner Kinion made a motion for a subcommittee of three to form to study signage options for city entry points and to bring those recommendations back to the commission. It was seconded by Commissioner Kinney and was approved unanimously. CEO Rawn asked that commissioners inform her if they wanted to serve on this subcommittee and stated that she assumed Commissioner Moya would serve on it and that she’d want both a member of Sells Agency and Experience Fayetteville’s marketing staff to join the subcommittee’s meetings. G.Adjourn Chair Martin requested a motion to adjourn the meeting and a motion was made by Commissioner Kinion and seconded by Commissioner Bunch and approved unanimously. Meeting adjourned at 4:38 pm. Minutes submitted by Amy Stockton, Director of Operations, Experience Fayetteville Fayetteville Advertising and Promotion Commission CEO Updates November 2022 Commission What to expect in the coming months: •December: No meeting in December if 2023 budget approved at November meeting •January: Appointment of a commission chairperson. In accordance with our by-laws, a chairperson must be voted on by the active commissioners at the first meeting of every year. The chair serves a one-year term. •March: One tourism industry appointment up for election Experience Fayetteville Sales •Tina Archer Cope attended the Connect Faith Marketplace with Arkansas State Tourism as a guest appointment taker in Little Rock. Experience Fayetteville sponsored a portion of the opening reception where over 150 meeting planners came together for a night of fun and networking. •The Sales team sponsored the music and stage at the 3rd annual Hill City Rumble moto event here in Fayetteville on October 8th which happened during the same time as Bikes, Blues and BBQ. •Julie Pennington assisted the Seed Summit hosted at the Graduate Fayetteville during the week of October 10th with welcome bags and dine around maps in order to help the 150 attendees discover what Fayetteville has to offer. •The Sales team hosted our second Hospitality in a Heartbeat partner meetup with our local hotels and engaged them in a conversation with Anthony Travel and the UA Events team so that both hoteliers and the UA could have open conversations about past needs and upcoming opportunities. •Tina Archer Cope attended the 2023 TEAMS conference the week of October 24th with fellow sports sales professionals around the state taking 80+ appointments with governing bodies, event planners and sports vendors from around the globe. Cycling •As part of an annual ranking, Fayetteville was recently recognized for its continued investment in the National Bicycle Friendly Business program by the League of American Bicyclists, with the 6th most recognized Bicycle-Friendly Businesses in the country – 38 local businesses made the list. Hotel, Restaurant, and hospitality partners account for over 35% of the recognized businesses in Fayetteville. •In partnership with the Fayetteville Town Center and City staff, Experience Fayetteville will be hosting its 4th Annual Bicycle Friendly Business Bootcamp on Wednesday, February 1st, 2023. This complimentary one-day workshop is designed for Fayetteville area business owners and management teams to learn more about becoming “Bicycle Friendly” for both customers and employees. Visitor Center Sales and Attendance for October •VC saw 1,436 visitors in October 2022 o 22.5% decrease from September 2022 (1,855) October – visitors from Brazil, Japan, Bangladesh, Poland, Mexico City, London, and British Columbia Saturday Farmers Market visitors count: (9am – 1pm) October 1st – 155 (Razorback Home Football Game VS. Alabama 2:30pm) October 8th – 109 October 15th – 145 October 22nd – 103 October 29th – 67 Items of Note October 5th – Fayetteville High School Homecoming Parade – Hung signs outside on the VC windows to cheer on FHS October 6th – Last 1st Thursday of the Season “Larger Than Life” October 14th – War Eagle Craft Fair October 14-16th – Mobile Visitors Center and activation at OZCX World Cup at Centennial Mountain Community Engagement •Community engagement has been heavily focused on preparing for Lights of the Ozarks Light Night, the parade, and the season vendors. This year’s festival will include three vendors during the week and six on weekends. Fayetteville Town Center •Fayetteville Town center has held twenty-two events since our last meeting. All weekend dates in December are booked. •Fayetteville Town Center will begin a marketing campaign called “Air on the Square.” This advertising is an effort to showcase our Bike Friendly Business status along with the new air pump and tool kit amenity added. The rack and tool kit is available to all riders who need to stop on the square for a tire repair or adjust their bike. •The parking garage equipment installation is complete, and our parking zone is active. We are allowing the leaseholders for the garage time to register before the city parking department resumes regular patrol for enforcement. In addition, static signage is being installed. We will continue our work on upgrading this system by next adding a digital capacity limit and event-only parking signage HMR and Lodging Info •Occupancy October 2022: 70%. This represents a 13% increase over October 2021 •Occupancy YTD 2022: 64%. This represents a 12% increase over prior year •ADR (Average Daily Rate) October 2022 is up 8% over October 2021, and 19% higher than prior year to date •October lodging collections are up 18% from the prior month and show a 41% increase over October 2021 •October restaurant collections were up 16% over the prior month and also show a 16% increase from October 2021 •Year to date, we’ve had an 18% increase in HMR tax collections over the same period in 2021 and this month’s collection of $471,436 represents the largest amount ever. Personnel •We are pleased to introduce two new Experience Fayetteville team members today, Sarah King who joins us as our VP of Marketing and Communications and Kelly Rich who joins us as our Director of Downtown Initiatives. 2023 Commission Meeting Schedule January 23 February 27 March 27 April 24 May 22 June 26 July 24 August 28 September 25 October 23 November 27 *December 11 if needed for budget approval jan feb mar apr may jun jul aug sep oct nov dec $353,407 Monthly A&P Tax Collections 2022** 34.04% -0.15% 35.69% 7.91% 24.93% 13.80% 11.02% 14.77% 20.93% 18.12% % change from 2021 Previous YTD (Jan-Oct) HMR A&P Tax Collection Totals 2018 $2,943,604 2019 $3,070,055 2020 $ 2,467,320 2021 $3,233,272 2022 $3,819,217 $38,557 Prior Dues Collected $471,436 Total HMR Collected October Collection (September Activity) $70,002 Lodging $362,876 Restaurant + 4.22%4.30%-19.63%31.04%18.12% % change over previous year ** This represents one half of the total HMR collections. The other half supports the Parks and Recreation department. 28.38% -17.18% 42.55% 14.90% 31.20% 25.00% 21.17% 26.85% 27.92% 24.40% % change from 2019 $225,420 $409,478 $385,513 $363, 072 $407,731 $428,867 $378,289 $396,004 $471,436 Memo  To: Molly Rawn, CEO, Experience Fayetteville Fayetteville Advertising & Promotion Commissioners From: Jennifer Walker, VP Finance, Experience Fayetteville Date: November 10, 2022 Re: Financial Statements – October 2022 This packet contains Experience Fayetteville Financial Statements for the month ended October 31, 2022. The following reports are included in the packet: Summary P&L Financials for month ended October 31, 2022 Balance Sheet for month ended October 31, 2022 Target Budget October – 83% Revenue target 83% of budget or higher by the end of October 2022. Expenditures target 83% or lower at October 2022. Total Revenue YTD: $4,526,299 or 94%; We are 11% ahead of target. Tax Receipts - $3,819,217 (over budget by 9% ytd) Town Center - $356,299 (over budget by 10% ytd) Other - $350,783 Total Operating Expenditure YTD: $3,523,436 or 73%; this is 10% under budget. EF Main - $2,856,618 Town Center - $666,818 HMR tax – YTD October Collections (September activity) were above seasonally adjusted budget expectations by 10%. Operating Net Income is $1,002,862 year to date. Modified Accrual Fayetteville A and P Commission Statement of Budget, Revenue and Expense Year-to-Date @ October 31, 2022  Actual  Budget  Over/(Under)  Budget % of Budget Revenue Hotel, Motel, Restaurant Taxes Revenue 3,819,217          4,154,500         (335,283)            91.9% Rental Revenue 324,220             346,000            (21,780)              93.7% Event Revenue 39,119               40,700              (1,581)                96.1% Visitor Center Store Revenue 58,733               51,200              7,533 114.7% Parking Revenue 24,510               33,000              (8,490)                74.3% Advertising Revenue 3,175 3,000                175 105.8% Grant/Other Revenue 247,925             182,255            65,670               136.0% Interest and Investment Revenue 9,400 8,250                1,150 113.9% Total Revenue 4,526,299          4,818,905        (292,606)            93.9% Expenses Operating Expenses Rental Expenses 60,195               88,500              (28,305)              68.0% Event Expenses 69,770               79,450              (9,680)                87.8% Visitor Center & Museum Store 49,260               48,200              1,060 102.2% Downtown Initiative 2,950 100,000            (97,050)              2.9% Personnel 1,225,773          1,616,044         (390,271)            75.9% Sales & Marketing 836,967             1,134,553         (297,586)            73.8% Office and Administrative 562,395             707,773            (145,378)            79.5% Bond Payments 584,650             707,000            (122,350)            82.7% Contribution to Capital Reserves 100,000             100,000            ‐ 100.0% Other grants 31,476               39,815              (8,339)                79.1% TheatreSquared Contribution ‐ 200,000            (200,000)            0.0% Total Operating Expenses 3,523,436          4,821,335        (1,297,899)        73.1% Net Operating Income/(Loss)1,002,862          (2,430)               1,005,292          0.0% Other Income Unrealized Gain/(Loss) on Investments 102,724             0.0% Other Expenses FFE & Improvements 372,280             595,000            (222,720)            62.6% Depreciation Expense 111,198             0.0% Cost of Goods Sold (6,085)                0.0% Net Income/(Loss) (without CX Grants)628,193             (597,430)          1,122,900           ‐105.1% CONSOLIDATED Year‐to‐Date Modified Accrual Fayetteville A and P Commission Statement of Budget, Revenue and Expense Year-to-Date @ October 31, 2022  Actual  Budget  Over/(Under)  Budget % of Budget Revenue Hotel, Motel, Restaurant Taxes Revenue 3,819,217          4,154,500         (335,283)            91.9% Rental and Event Revenue 31,726               37,700               (5,974)                84.2% Visitor Center Store Revenue 58,733               51,200               7,533 114.7% Advertising Revenue 3,175 3,000                 175 105.8% Grant & Other Revenue 247,925             182,255             65,670               136.0% Interest and Investment Revenue 9,224 8,000                 1,224 115.3% Total Revenue 4,170,000          4,436,655         (266,655)            94.0% Expenses Operating Expenses Event Expenses 51,906               76,450               (24,544)              67.9% Visitor Center & Museum Store 49,260               48,200               1,060 102.2% Downtown Initiative 2,950 100,000             (97,050)              2.9% Personnel 866,702             1,134,973         (268,271)            76.4% Sales & Marketing 831,951             1,118,553         (286,602)            74.4% Office and Administrative 337,723             402,523             (64,800)              83.9% Bond Payments 584,650             707,000             (122,350)            82.7% Contribution to Capital Reserve 100,000             100,000             ‐ 100.0% Other Grants 31,476               39,815               (8,339)                79.1% TheatreSquared Contribution ‐ 200,000             (200,000)            0.0% Total Operating Expenses 2,856,618          3,927,514         (1,070,896)        72.7% Net Income/(Loss) Before Other Revenue and Expenses 1,313,381          509,141             804,240             258.0% Other Income Unrealized Gain/(Loss) on Investments 102,724             ‐102,724             0.0% Other Expenses FFE & Improvements 122,860             90,000               32,860               136.5% Depreciation Expense 62,747                Cost of Goods Sold (6,085)                 Net Income/(Loss)1,236,584          419,141             714,719             295.0% Experience Fayetteville Year‐to‐Date Modified Accrual Fayetteville A and P Commission Statement of Budget, Revenue and Expense Year-to-Date @ October 31, 2022  Actual  Budget  Over/(Under)  Budget % of Budget Revenue Rental Revenue 324,220              346,000           (21,780)              93.7% Event Revenue 7,393                  3,000                4,393                  246.4% Parking Revenue 24,510                33,000             (8,490)                 74.3% Interest and Investment Revenue 176                     250                   (74)                      70.3% Total Revenue 356,299             382,250           (25,951)              93.2% Expenses Operating Expenses Rental Expenses 60,195                88,500             (28,305)              68.0% Event Expenses 17,864                3,000                14,864                595.5% Personnel 359,071              481,071           (122,000)            74.6% Sales & Marketing 5,016                  16,000             (10,985)              31.3% Office and Administrative 224,672              305,250           (80,578)              73.6% Total Operating Expenses 666,818             893,821           (227,003)            74.6% Net Income/(Loss) Before Other Revenue and Expenses (310,519)            (511,571)          201,052             60.7% Other Expenses FFE & Improvements 249,421              505,000           (255,579)            50.6% Depreciation Expense 48,451                 Net Income/(Loss) (608,391)            (1,016,571)      408,180             59.8% Town Center Year‐to‐Date ASSETS Current Assets Cash 3,495,893 Investments 1,308,381 Accounts Receivable 500,534 Prepaid Expenses 40,687 Deposits 28,617 Visitors Guide Trade 2,877 Inventory Asset 23,421 Total Current Assets 5,400,410 Other Assets Capital Assets Furniture & Fixtures 96,641 Equipment 641,976 EF/CVB Building 940,410 EF/CVB Land 198,621 Building Additions 971,952 Walker-Stone House 1,167,218 Construction in Progress 27,109 Accumulated Depreciation (1,477,631) Total Other Assets 2,566,295 TOTAL ASSETS 7,966,705 LIABILITIES AND EQUITY Current Liabilities Accounts Payable 149,064 Unearned Revenue 116,965 Total Liabilities 266,028 Equity Unreserved Fund Balance 4,236,564 Operating Reserve 1,000,000 Capital Reserve 2,100,000 Temporarily Restricted Funds 439,895 Net Revenue Gain/(Loss) on Investments 102,724 Net Revenue without Cyclocross 625,702 Net Revenue for Cyclocross (804,207) (75,782) Total Equity 7,700,677 TOTAL LIABILITIES AND EQUITY 7,966,705 Fayetteville A&P Commission Balance Sheet As of October 31, 2022 NOVEMBER 2022 MARKETING REPORT 2023 ARKANSAS TRAVEL GUIDE AD •Publishes January 2023 OUR TRAILS LEAD TO ADVENTURE. For an Authentic Experience in Northwest Arkansas, you gotta West Mountain Brewing Co. BIKE ARKANSAS WINTER EDITION West Mountain Brewing Co. OUR TRAILS LEAD TO ADVENTURE. For an Authentic Experience in Northwest Arkansas, you gotta For more than a decade The Fayetteville Ale Trail has been Arkansas’ Original Craft-Beer Tour. A self-guided showcase of creative fermentation and flavor, the Fayetteville Ale Trail currently features 20 stops. And these stops, located in Fayetteville and nearby Springdale, Rogers, Bentonville, Lowell, Eureka Springs and Siloam Springs are as diverse as the outstanding brews they offer. Whether you’re looking for a double IPA hop bomb, a creamy rich oatmeal stout, or even a light refreshing cider, you’ll find a pint that hits the spot. Start your adventure by dropping by the Fayetteville Visitors Center to purchase your Ale Trail merch and pickup your passport. Then, collect your passport stamps with any purchase at each brewery location. And don’t forget, a passport is more than just a fun way to keep up with your progress on the Ale Trail, it’s a way to show your love and support of the amazing craft these breweries are fostering in Northwest Arkansas! Ever growing, the Ale Trail is currently comprised of these A TRAIL PAVED WITH HOPS & BARLEY. amazing breweries: Apple Blossom Brewing Co., Bentonville Brewing Co., Bike Rack Brewing Co., Black Apple Cidery, Boston Mountain Brewing, Columbus House Brewery, Core Brewing and Distilling Co., Crisis Brewing Company, Eureka Springs Brewery, Fossil Cove Brewing Co., Goat Lab Brewery, Hawk Moth Brewery, Ivory Bill Brewing, Natural State Beer Co., New Providence Brewing Co., Ozark Beer Company, Puritan Coffee & Beer, Rendezvous Junction Brewing Co., Saddlebock Brewery and West Mountain Brewing Co. For the most up-to-date brewery listing and other information go to: FayettevilleAleTrail.com or ExperienceFayetteville.com DOGS ARE ALWAYS WELCOME AT CRISIS BREWING COMPANY, SO BRING YOUR PUP WHILE ENJOYING A PINT. •Ad and Advertorial EF+ELLA’S TABLE UNWINED GIVEAWAY •Had an engagement rate of 2.48% 7th most engaging post of the year •538 comments, +469 more than in the past year •28,259 impressions, 11th highest of any EF IG post in the past year •19,950 unique users, 11th highest of any EF IG post in the past year EF+ELLA’S TABLE UNWINED GIVEAWAY •Experience Fayetteville gained +54 followers •Ella’s Table gained +379 followers A +20.5% increase in the size of audience From Oct. 10-13, the length of the giveaway: CYCLOCROSS IMPACT ON EUROPEAN TRAFFIC TO WEBSITE From Oct. 1, 2021 through Oct. 31, 2022 the Experience Fayetteville website experienced significant growth in website traffic from Europe as a result of international cyclocross events. Time Period 10/1/21 - 10/31/22 8/31/20 - 9/30/21 % Increase 6,170 2,717 127% 1.32% 0.69% 92% 475 209 Total Sessions % of Total Sessions Session/Month EVENTS CALENDAR PAGE The Experience Fayetteville website re-structuring was implemented in mid-March. At that time, a new Events Calendar was implemented. Since then, web visitors have increasingly come to rely on the calendar. Calendar Total Pageviews April 2,260 3,447 4,351 4,347 5,009 5,638 4,739 May June July August September October 6,000 5,500 5,000 4,500 4,000 3,500 3,000 2,500 2,000 Memo To: Molly Rawn, CEO, Fayetteville Advertising and Promotion Commission; Fayetteville Advertising and Promotion Commissioners From: Amy Stockton, Director of Operations, Experience Fayetteville Date: November 18, 2022 Re: University of Arkansas IDEALS Institute Agreement for DEI Education & Training Background: Fayetteville Advertising and Promotion wants to provide Diversity, Equity and Inclusion training and education for our staff and in evaluating different tools to do this, has determined that the IDEALS Institute at the University of Arkansas is a good fit for our goals. The IDEALS Institute is a training, consultancy, and research institute dedicated to creating diverse, equitable and inclusive workplaces and communities. The agreement attached is for an 18-month project beginning April 2023 and concluding September 2024 for $19,995. It includes a strategic assessment and consultation and a DEI capacity building package with both learning and application sessions. It will include time for our leadership team to work with the IDEALS Institute team to help ensure our policies and practices support an inclusive environment. Recommendation: The Experience Fayetteville Director of Operations and the CEO recommend the commission authorize the CEO to sign the agreement with the University of Arkansas IDEALS Institute. Fayetteville A&P Commission St a t e m e n t o f W o r k Provider Name University of Arkansas The IDEALS Institute 640 N. Garland Avenue, Suite 117 Fayetteville, AR 72701 Project Manager Elecia Smith, Ed. D., PHR, SHRM-CP Executive Director ecs002@uark.edu 479-575-3312 Client Name Experience Fayetteville 21 South Block Ave, Suite 100 Fayetteville, AR 72701 Contact Person Amy Stockton Director of Operations astockton@experiencefayetteville.com 479-521-5776 x 306 Project Scope In support of the Experience Fayetteville’s commitment to embedding diversity, equity, and inclusion (DEI) into its awareness, policies, practices and strategic approach to hospitality and tourism, the IDEALS Institute offers a consultation, assessment and DEI capacity building professional development program as a solid foundation from which Experience Fayetteville (EF) may build upon its ability to help make Fayetteville an inclusive and welcoming experience for everyone, regardless of identity. Using our People. Processes. Power (P3) framework, there will be two pillars of engagement with EF leadership and entire organization over 18 months: (1) strategic assessment for the entire team and ongoing consultation with leadership and (2) DEI capacity building package for the entire EF team. Deliverables •Strategic Assessment (EF team) and Consultation (Leadership) o Consultation and Thought Partnership o Intercultural Competence Assessment o Intercultural Development Inventory Introduction and Debrief Sessions •DEI Capacity Building Package for EF Team o Professional Development Package covering five core DEI topics divided into two interactive sessions per topic. Topics include: Principles of DEI, Race in the South, Facing Bias, Microaggressions, and Equity101. See attached proposal, proposal overview, and project timeline for a detailed list of deliverables. Period of Performance April 2023 – September 2024 Training/Facilitation/Consultation Title Experience Fayetteville Strategic Assessment and Consultation and DEI Capacity Building Physical Location Experience Fayetteville’s meeting spaces or online via Zoom or other virtual platforms. Setup Agreement IDEALS will provide and host all online platforms for trainings. Experience Fayetteville will be responsible for assuring that all participants have the supplies and technology to fully participate in the trainings, as outlined in the attached proposal. Experience Fayetteville will also provide all necessary in-person rooms, supplies and refreshments throughout this project. Monthly Payment Due: $1,110.83 24-Month Total Not to Exceed: $19,995 Payment Terms Monthly payments will be due the last working day of each month, beginning when engagements start. Reference: University of Arkansas Service Agreement dated 11/11/2022 —Thank You for Partnering with the IDEALS Institute for Your DEI Needs— SOW #: 1063 1 SERVICE AGREEMENT - TRAINING THIS SERVICE AGREEMENT ("Agreement") is made and entered into as of this 11th day of November, 2022 (“Effective Date”), by and between the Board of Trustees of the University of Arkansas, acting for and on behalf of the University of Arkansas, Fayetteville (the “University”) and the undersigned Client (the “Client”). In consideration of the mutual covenants contained in this Agreement, the parties agree as follows: 1.Services. The University shall perform the services described in the Statement of Work (“SOW”), attached hereto and incorporated herein (the “Services”). 2.Change Orders. All change orders to the SOW and acceptance or rejection of such change orders, must be in writing and accepted by both parties. 3. Payment. In consideration of the University’s performance of the Services, the Client shall pay the University in accordance with the terms of the SOW. If no due date for payment is stated in the SOW, the stated payment is due upon execution of this Agreement. Late payment may be subject to late payment penalty and interest in accordance with applicable law, as well as collection and attorney fees. The University is under no obligation to provide to Client any financial reporting, supporting documentation, or justification of expenditures made in performance of the Services as a condition of payment. 4.Intellectual Property Rights and Confidentiality. As between the parties, all materials and other deliverables provided by the University in connection with its provision of the Services and all intellectual property rights therein and thereto (collectively the “Deliverables”) shall be and remain the sole and exclusive property of University. Except as required by law or court order, Client shall not disclose the Deliverables, the terms of this Agreement, or any pricing information discussed in connection with this Agreement to any third party without the express written permission of University. Additionally, the parties agree that this Agreement does not transfer, license, or allow any use of University’s logos or other marks. Unauthorized use of the logos or any other marks of University by the Client or its employees or contractors constitute infringement of University’s rights and a material breach of this Agreement. Under no circumstances may the Client use University’s name in such a manner as to imply or state an endorsement of the Client by the University. 5.Termination. This Agreement may be terminated by either party upon thirty (30) days’ prior written notice to the other party. The University may terminate this Agreement immediately upon notice to Client if Client has failed to make payment in accordance with the terms of this Agreement. Upon termination by either party, Client shall reimburse University for all costs and non-cancellable commitments and expenses incurred by University in its preparation or performance of the Services prior to the date of termination. 2 6.Warranties. UNIVERSITY MAKES NO WARRANTIES, EXPRESSED OR IMPLIED, AS TO ANY MATTER WHATSOEVER, INCLUDING WITHOUT LIMITATION, THE OWNERSHIP, MERCHANTIBILITY, NONINFRINGEMENT, OR FITNESS FOR A PARTICULAR PURPOSE OF ANY GOODS, MATERIALS, OR SERVICES PROVIDED. The University makes no representation or warranty that any data, information, results, materials, or other product of its Services do not or will not infringe third party intellectual property rights. Client acknowledges that the avoidance of such infringement in the use of any data, information, results, materials, or other product provided to Client by University under this Agreement shall remain the responsibility of Client. 7.Limitation of Liabilities. EXCEPT WHERE ONE PARTY INDEMNIFIES THE OTHER UNDER THIS AGREEMENT, NEITHER PARTY SHALL BE LIABLE TO THE OTHER FOR CONSEQUENTIAL, SPECIAL, OR PUNITIVE DAMAGES, INCLUDING LOST PROFITS OR OTHER ECONOMIC DAMAGES, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. THIS LIMITATION WILL APPLY REGARDLESS OF THE FORM OF ACTION, WHETHER IN CONTRACT, STRICT LIABILITY, OR TORT, INCLUDING NEGLIGENCE. 8.Miscellaneous. 8.1 Governing Law and Jurisdiction. This Agreement and all claims arising out of or relating to this Agreement shall be governed by the laws of the State of Arkansas (without regard to its conflict of law provisions) and all matters relating to the validity, interpretation and enforcement of this Agreement shall be determined in the State of Arkansas. In accordance with Article 5, § 20 of the Arkansas Constitution and Arkansas Code Annotated § 19-10-204, the parties agree that the Arkansas State Claims Commission has exclusive jurisdiction over any claims for damages against the University. The United Nations Convention on Contracts for the International Sale of Goods shall not apply to this Agreement. 8.2 Non-Assignability. This Agreement is not assignable nor the duties hereunder delegable by either party without the written consent of the University. 8.3 Notice. Any notice or communication required or permitted to be given hereunder shall be in writing and delivered personally, by overnight courier, by facsimile with delivery confirmation received, by United States certified mail, postage prepaid with return receipt requested, or by e-mail with return receipt, addressed as follows: (a)If to the Client, to: Amy Stockton Director of Operations Experience Fayetteville 21 South Block Ave, Suite 100 Fayetteville, AR 72701 3 (b)If to the University, to: Elecia Smith, Executive Director IDEALS Institute 640 N. Garland Avenue, Suite 117 Fayetteville, AR 72701 and if concerning breach of this Agreement or early termination, a copy to: Office of the General Counsel 421 Administration Building University of Arkansas Fayetteville, AR 72701 Notice shall be effective immediately if delivered personally or electronically; otherwise notice shall be effective three (3) business days after it has been sent. 8.4 Waiver. Any waiver, either expressed or implied, by either party of ay default by the other in the observance and performance of any of the conditions, covenants, or duties set forth in this Agreement shall not constitute or be construed as a waiver of any subsequent or other default. 8.5 Force Majeure. If either party is prevented from performing its obligations under any provision of this Agreement by reason of any war, strike, fire, earthquake, icy roads, hurricane, tornado, or other event or condition beyond its control, such failure to perform shall be excused and shall not be deemed a breach of this Agreement. 8.6 Indemnification. The Client shall defend, indemnify, and hold harmless the University, its agents, officers, board members, and employees from and against any and all claims, damages, losses, and expenses, including reasonable attorney's fees, for any claims arising out of or in any way relating to the performance of Client’s obligations under this Agreement, including but not limited to any claims pertaining to or arising from the Client’s negligence, intentional acts, or omissions, or Client’s use of data, information, results, or materials provided by University under this Agreement. 8.7 Liability. The University shall only be responsible for the acts or omissions of its employees acting in their official capacity. Any legal controversy or legal claim arising out of or relating to this Agreement which results in litigation shall result in each party being solely responsible for its respective attorneys’ fees and costs throughout the entire process of any and all proceedings. Nothing in this Agreement shall be deemed or construed as a waiver of the sovereign immunity of the State of Arkansas, or any other immunities available to University or its officers, agents and employees. 8.8 University Policies and Laws; Campus Restrictions (applicable to services taking place on University owned or leased property). The Client will fully comply with all applicable University policies, and federal, state and local laws, 4 ordinances, and regulations. Client shall not engage in the sale and/or distribution of food and/or beverages at any location on campus. Client shall not permit tobacco, electronic cigarettes, alcohol, or illegal drugs to be used by any of its officers, agents, representatives, employees, contractors, subcontractors, licensees, partner organizations, guests or invitees while on the campus of the University. Client further agrees that it will not permit any of its officers, directors, agents, employees, contractors, subcontractors, licensees, partner organizations, guests or invitees to bring any explosives, firearms or other weapons onto the campus of the University, except to the extent expressly permitted by University of Arkansas policies and the Arkansas enhanced concealed carry laws. Client shall not allow any of its officers, directors, agents, employees, contractors, subcontractors, licensees, partner organizations, guests or invitees that are registered sex offenders to enter the campus of the University. 8.9 Non-Discrimination. The Client agrees to adhere to any and all applicable Federal and State laws, including laws pertaining to non-discrimination. In particular, consistent with the provisions of Act 954 of 1977, as amended and codified at Ark. Code Ann. § 25-17-101, the Client agrees as follows: (a) the Client will not discriminate against any employee or applicant for employment because of race, sex, color, age, religion, handicap or national origin; (b) in all solicitations or advertisements for employees, the Client will state that all qualified applicants will receive consideration without regard to race, color, sex, age, religion, handicap or national origin; (c) failure of the Client to comply with the statute, the rules and regulations promulgated thereunder and this non-discrimination clause shall be deemed a breach of contract and this Agreement may be canceled, terminated or suspended in whole or in part; (d) the Client will include the provisions of items (a) through (c) in every subcontract so that such provisions will be binding upon such subcontractor. 8.10 Third-Party Beneficiaries. There are no third-party beneficiaries of this Agreement unless expressly agreed by the parties in writing. No person or entity, other than the University and the Client and their successors and permitted assigns shall have any rights, remedies, claims, benefits, or powers under this Agreement. 8.11 Section Headings. The headings and subheadings of clauses contained in this Agreement are used for convenience and ease of reference and do not limit the scope or intent of the clause. 8.12 Independent Contractors. The relationship of the parties to this Agreement is that of independent contractors, and nothing in this Agreement should be construed to create any agency, joint venture, or partnership relationship between the parties. 8.13 Anti-Boycott Israel Notice. In accordance with Ark. Code Ann. § 25-1-503, Vendor hereby certifies to University that Vendor (a) is not currently engaged in a boycott of Israel and (b) agrees for the duration of this Agreement not to engage in a boycott of Israel. 5 8.14 Entire Agreement. This Agreement contains the entire understanding and agreement between the parties with respect to its subject matter and supersedes any prior or contemporaneous written or oral agreements, representations or warranties between them respecting this subject matter. This Agreement may be amended only by a writing signed by both parties. 6 IN WITNESS WHEREOF, the parties hereto have duly executed and have caused this Agreement duly to be executed and delivered as of the Effective Date. Agreed Board of Trustees of the University of Arkansas, acting for and on behalf of the University of Arkansas, Fayetteville Signature:___________________ Name:______________________ Title:_______________________ Date:_______________________ Experience Fayetteville representative, acting for and on Behalf of Client Signature:___________________ Name:______________________ Title:_______________________ Date:_______________________ Memo To: Molly Rawn, CEO, Fayetteville Advertising and Promotion Commission; Fayetteville Advertising and Promotion Commissioners From: Tyler Wilson, General Manager, Fayetteville Town Center Miletus Callahan-Barile, Facilities Manager, Fayetteville Town Center Date: November 14, 2022 Re: Window Tint Replacement Fayetteville Town Center Background: The Fayetteville Town Center window tinting has deteriorated beyond repair. The current tinting is no longer functional and is not aesthetically pleasing. Three bids were solicited for this project. The staff recommends the quote from Architectural Glass Tinting due to the extended warranty and the vendor’s knowledge of the window track system used in the building. Recommendation: The Facilities Manager, Fayetteville Town Center General Manager, and the CEO recommend the commission accept the quote from Architectural Glass Tinting for $27,942.35. The proposal includes removing the existing material and replacement with new Hyper Optik film that will increase the environmental efficiency of the event spaces and decrease visibility from the exterior. In addition, this contract includes a fifteen- year service and material warranty. Fayetteville A&P Commission Thank You For Your Business and Have a Great Day! If you have Any Questions Please Call Us Right Away. Architectural Glass Tinting 1912 S. Walton Blvd Ste. G Bentonville, AR 72712 (479) 319-4723 archglasstinting@gmail.com www.bentonvilleglasstinting.com Estimate ADDRESS Fayetteville Town Center 15 W Mountain St Fayetteville, AR 72701 Miletus: 479-587-9944 ESTIMATE #1191 DATE 10/26/2022 FILM TYPE AMOUNT LLumar Dual-Reflective 5 - 310 Panels 27,942.35 Removal of Film and Adhesive 0.00 SUBTOTAL 27,942.35 TAX 0.00 TOTAL $27,942.35 Accepted By Accepted Date Memo To: Molly Rawn, CEO, Fayetteville Advertising and Promotion Commission; Fayetteville Advertising and Promotion Commissioners From: Tyler Wilson, General Manager, Fayetteville Town Center Date: November 18, 2022 Re: Fayetteville Town Center Utilization Consultant Services JLL Background: Jones Lang LaSalle Americas Inc. (JLL) is a consultancy firm specializing in utilization optimization for municipally owned properties and event centers. Fayetteville Town Center has requested a proposal to provide their service and consultation on the optimization and best use of our existing space. The staff believes this service will provide market insight and guidance on the best course forward for several areas, including upgrades, clientele targeting, and space usage. Included here is the proposal for their services and an outline of their proposed process for the assessment of our facility. JLL has been utilized by many municipally owned event spaces across the country and is highly regarded as a leader in this space. Recommendation: The Facilities Manager, Fayetteville Town Center General Manager, and the CEO recommend that the commission accept the quote from JLL for $65,000 Their proposed service included in your packet has four assessment phases and costs $65,000 plus applicable travel expenses. Fayetteville A&P Commission CONVENTION CENTER OPTIMIZATION STUDY Experience Fayetteville Fayetteville Advertising and Promotion Commission September 27, 2022 FAYETTEVILLE TOWN CENTER Contact JLL Contact Information: Daniel Fenton, Executive Vice President M +1 408 309-3450 dan.fenton@am.jll.com Bethanie DeRose, Senior Vice President M +1 609 457 5361 bethanie.derose@am.jll.com September 27, 2022 Tyler Wilson General Manager Fayetteville Advertising and Promotion Commission 15 West Mountain Fayetteville, AR 72701 RE: Fayetteville Town Center Dear Tyler, Jones Lang LaSalle Americas, Inc. (JLL) is pleased to present our proposal for Convention Center Optimization Study for the Fayetteville Town Center. We have provided a comprehensive proposal, taking note of the scope of services and understanding the specific needs expressed. We have the right team for these assignments. JLL brings national expertise in destination development, convention center feasibility, expansion and our proprietary product in convention center optimization. Our combined expertise and experience in convention center planning and venue planning combined with our overarching tourism and destination development backgrounds will bring the right approach to Fayetteville for the convention center study needs. JLL’s system for leveraging stakeholder-driven and future-focused strategic plans has helped destination organizations transform their convention and music venue operations, grow tourism impacts and improve quality of life for residents. Using our convention center optimization analysis, a JLL proprietary tool, we will determine the current utilization of the existing convention center and set a path forward for optimizing square footage, delivering greater return on investment, sales strategy deployment and future goal setting. Our intimate knowledge of the convention center ecosystem allows our planning team to drill deeper into specific outcomes and deliver a long-term plan for success. Our joint outcome will deliver a plan with recommendations to make data-driven strategic decisions. JLL has an unmatched commitment to gathering and molding important stakeholder input. The guidance and views of elected leaders, tourism industry stakeholders, and community thought leaders and will shape the direction and outcome of these respective plans as well as educate them about the potential by critically examining the recommended outcomes. JLL’s process harnesses this stakeholder involvement to jumpstart implementation. Our plans have a higher rate of success in short and long-term recommendations because of this important effort. Our goal is to create recommendations in these respective studies and planning efforts that is not “JLL’s plan,” but a plan that has been developed by, and in conjunction with, the Experience Fayetteville and the Fayetteville Town Center, destination partners, and other engaged members of the Fayetteville community. If you have any questions do not hesitate to reach out to me or Bethanie DeRose, Senior Vice President. Daniel Fenton Executive Vice President Director of Global Tourism Practice. T +1.408-309-3450 | dan.fenton@am.jll.com We would be honored to be your partner. EXPERIENCE PROJECT TEAM JLL is a leading professional services firm with specialized experts in tourism strategy advisory. We shape the future of destinations for a better world by creating solutions, building relationships and most of all, using data to recommend tailored approaches for our clients. As a practice, the Hotels and Hospitality Group maintains 49 global offices. In the last five years, the group’s 350- strong global team has helped solve nearly 5,300 unique client challenges by completing advisory, development, valuation and asset management assignments. We have worked cities, regions, states and international destinations – partnering to positively impact the tourism economies and make their destinations more sustainable for future growth. JLL provides a full range of tourism strategy services for both public and private clients. Our team has extensive experience in providing global strategy and positioning services as well as destination development and a full range of advisory services at the tactical level that enhance the destinations in which we work. Our global platform and diverse service and product offerings position us to best support our clients in such a dynamic and localized industry and to successfully navigate the challenging markets in which we compete worldwide. Jones Lang LaSalle Incorporated,incorporated in 1997,is a Maryland corporation.Our common stock is listed on The New York Stock Exchange (“NYSE”) under the symbol “JLL.”JLL is a Fortune 500 company with annual revenue of $18.0 billion,operations in over 80 countries and a global workforce of over 93,000 as of December 31,2019. ABOUT OUR FIRM. TOP FIRM No. 1 in Forbes Best Employers for Diversity in America for 2021 FACILITIES +RESOURCES. Cities,states and countries across the globe are leveraging the tourism industry to drive new growth,expansion of industry and long-term sustainability for their communities on the world stage. Our team provides the expertise to drive new destination thinking in a globally competitive landscape. Named to Bloomberg Gender-Equality Index for second year in a row Score of 100 for Best Places to Work for Disability Inclusion 47 Offices 350 Global specialists 150+Global Destinations studied Destinations. We Know We serve as guides in the strategic management of tourism in a sustainable manner consistent with economic goals and cultural values shaped by preservation of natural resources,community desires and visitor industry needs. Awards +Accolades Proven methods We are practitioners and are thought-leaders in the tourism industry and apply that expertise to build destination strategic plans. Leveraging expertise To date, JLL has advised over 50 destinations on destination strategic plans, organizational assessments, asset optimization strategies, and visitor profiles worldwide. Outcome oriented We pride ourselves on partnering with clients to produce implementation focused results. Why undergo a strategic planning effort, if you can’t implement it? Fortune Fortune 500 Company list (2015-2020) World’s Most Admired Companies Fortune Magazine 5th year in a row Dow Jones Sustainability Index North America 4th year in a row Perfect Score on the Human Rights Campaign Foundation's Corporate Equality Index 6th year in a row Energy Star Sustained Excellence Award U.S. Environmental Protection Agency 8th year in a row World’s Most Ethical Companies Ethisphere Institute 13th year in a row •M.C. Benton, Jr. Convention and Civic Center •Manhattan Conference Center •Mayo Civic Center –Rochester, MN •McCormick Place Chicago •Meydenbauer Center –Bellevue, WA •Miami Beach Conference Center •Miami Beach Convention Center •Monona Terrace Commuinty & Convention Center •Montgomery Conference Center •Mountain Lakes Conference Center •Myriad Convention Center •Myrtle Beach Convention Center •Navy Pier Chicago •Norfolk Convention Center •North Charleston Convention Center •Northwest Georgia Trade & Convention Center •Oconee County Conference Center •Orlando Downtown Convention Center •Orlando/Orange County Convention Center •Osceola County Conference Center at Reunion Resort •Overland Park Convention Center •Pennsylvania Convention Center •Portman Conference Center •Prime F. Osborn Convention Center •Queen Sirikit Convention Center (Bangkok) •Raleigh Convention/Civic Center •Richardson Galatyn Park Conference Center •Richmond Center for Conventions and Exhibitions •Riyadh Trade Mart and Convention Center •Saint Paul RiverCentre •San Jose McEnery Convention Center •San Juan Convention Center •Sarasota Convention Center •Schaumburg Convention Center •Schenectady Convention Center •Seaside Convention Center •Shreveport Convention Center •St. Louis Cervantes Convention Center/ Stadium •South San Francisco Conference Center •Sugar Land Convention Center, TX •Summerville Civic Center, SC •TD Convention Center-SC •Toronto Exhibition Place Trademart & Exhibit Hall •Trenton Conference Center •Tuscaloosa Convention Center •Vancouver Convention & Exhibition Centre •Washington Convention Center, DC •Wausau Convention Center •Wildwood Convention Center , NJ •Williamsburg Convention Center •Wilmington Convention Center •Winchester Conference Center, VA Convention Center Industry Experience From providing long-range strategic planning, asset management, feasibility assessments, financial advisory services, pre-development and development services, or operational improvement, our firm is recognized as a convention industry leader. As shown in our client list below, we have provided advisory services for over 100 convention, conference and civic centers. JLL knows Convention Centers •Akron Convention Center •Alabama Gulf Coast Conference Center •Albany Convention Center •Albert B. Sabin Convention Center •Alpharetta Convention Center •Alton Conference Center •Amarillo Civic Center •Asheville Civic Center •Augusta Convention Center •Aurora Conference Center •Baltimore Convention Center •Banks County Conference Center •Birmingham Conference Center •Burlington Convention Center •Carteret County Convention Center •Charlotte Convention Center •Classic Center, The –Athens, GA •Cobb Galleria Centre •COBO Conference & Exhibition Center •Colorado Convention Center –Denver •Colorado Springs Convention Center •Columbia Metropolitan Convention Center •Columbus Iron Works •Crown Coliseum Complex •Ernest N. Morial Convention Center •Expoland Malaysia •Frank Mayborn Convention Center -Florida •Garland Conference Center •Gary Convention Center •George R. Brown Convention Center •Greater Columbus Convention Center •Greenville/Pitt County Convention Center •Greenwood Conference Center •Indiana Convention Center •Irving Convention Center at Las Colinas •Jackson Township Conference Center •Jacksonville Convention Center-Florida •Jacob K. Javits Convention Center •John B. Hynes Convention Center •Johnston County Conference Center •Kalahari Resort & Convention Center •Kansas ExpoCentre •Lancaster Convention Center -Pennsylvania •Liberty Conference Center 19 35 Applied Sustainability Initiatives with Recent Clients Global Partnerships on Sustainability Sustainability. Global In collaboration with the World Green Building Council, JLL continues its commitment to taking bold climate action. In 2019, JLL became the first consultancy to sign up to the WorldGBC’s Net Zero Carbon Buildings Commitment (NZCB), which helped establish a blueprint for our global NZCB Commitment. We are committed to achieving net zero carbon emissions across all JLL- occupied buildings by 2030. Our practice applies these same principles and initiatives to clients, advocating this approach to both clients and suppliers. 38 JLL knows that cities are global hubs accelerating business, innovation and job creation all around the world. That is why our team is committed to global partnerships to further this industry’s impact. JLL has worked with leading global think tanks to advise on policy and operationalize it into practice.This year, JLL & WTTC will be releasing the new 2022 Index.Thought Leadership. Tourism Readiness In 2019, JLL released a joint research report with the World Travel & Tourism Council (WTTC) on global tourism readiness. The research indexed 50 global cities and their positioning for a successful tourism industry based on 75+ data points using JLL & WTTC’s joint expertise in the field. Our methodology developed five-typologies of destinations. Our team works closely with Destinations International to support destination marketing organizations in achieving their ambitions. Our practice lead, Dan Fenton, was a former chair of this international organization. Bethanie DeRose and Juliet Velazquez currently sit on the Global Leadership and Convention Sales and Services Committees for Destinations International to support JLL’s global reach and are instrumental in providing strategic recommendations influencing policy change in the industry. Through our work with the World Economic Forum (WEF), JLL is able to be a leading advisory voice on issues related to emerging markets, sustainability and competitiveness. JLL & WEF understand the importance of tourism to drive the health and success of adjacent industries i.e., retail, restaurants, transportation and overall quality of place. Renovation and Expansion of the Charlotte Convention Center Based on recommendations from a market study commissioned by the Charlotte Regional Visitors Authority, JLL + TVS explored a series of potential improvements. Through the teams’ collaboration and together with the staff, a master plan was developed for expanding and enhancing the center. The Charlotte Convention Center, designed by TVS, opened in 1995. Since then, the needs of meeting planners and convention attendees have evolved, requiring investment in the facility to deliver a competitive experience. A major need identified by the study was for additional meeting space. Since there is no available land adjacent to the center, it is not currently possible to expand beyond the existing building’s footprint to create this space. TVS therefore investigated and found ways to expand the building vertically by adding new floor space above the existing exhibit halls. This additional space will provide 15 new meeting divisions with 26,000 sf. This new area also creates a new public concourse façade along Stonewall Street, currently the neglected back side of the building, greatly improving the center’s connectivity to the city. JLL has completed optimization assessments in Columbus, Miami, Philadelphia, Rochester, Minnesota, Santa Clara, California and Madison, Wisconsin. 24 Similar Projects Market Demand for Expansion Customer Feedback Study Recommendations for Design Dan Fenton –Project Oversight Bethanie De Rose –Project Manager JLL helped the City of Denver move forward with a $233 million expansion of the Colorado Convention Center. JLL’s market analysis and customer research indicated that a large convention space was not necessarily conducive to further expansion efforts.The study concluded that Denver needs to provide the best facilities and service to be a class leader. The recommended direction focused on improving public spaces to enhance social interaction during conventions.Through JLL’s research, tvsdesign was able to develop multiple design concepts that reflected the reimagined space. State of the art technology, reengineering of food and beverage concepts and hotel infrastructure was also determined to be an important components in Denver’s future. The recommendations illustrated the need for special outdoor rooftop events space that would help brand the Colorado experience for visitors. Taking full advantage of the natural elements of Denver in a new design and game plan for the city’s most important asset. Developing a path for continued improvement for a destination that has a proven track record of success. 25 Similar Projects Market Analysis for the Expansion of the Colorado Convention Center Feasibility Study for Expansion Market Demand for National Western & Colosseum Operational Recommendations for Denver Arts & Venues Financing Recommendations Dan Fenton –Project Oversight Bethanie De Rose –Project Manager The Greater Raleigh Convention and Visitors Bureau selected JLL to orchestrate a 10-year Destination Strategic Plan. The planning initiative sought to provide a unified vision for the destination’s future across the entire county. All 13 municipalities were engaged along with input from over 1,800 stakeholders to help construct the final plan. The process included the comprehensive analysis of convention center utilization and optimization. JLL conducted the in-depth analysis to determine current use and develop a long-term plan to strategically optimize the RCC. This plan was delivered in 2018. In 2021, the GRCVB asked JLL to come back and refresh the RCC study to ensure they were on the right path. JLL recently completed that refresh work and updated the long-term recommendations which now includes action on a new convention hotel to improve production from the RCC with support from the City and County. This process enabled partners to understand the potential for the RCC and ultimately support recommendations for 5 and 10-year cycles to reinvest in the building to improve the impact it could have. 25 Similar Projects Raleigh Convention Center Optimization and Expansion Study Convention Center Utilization & Optimization Study Feasibility Study for Expansion Market Demand for Hotel Product Needs Sales Deployment Planning Future of the Red Hat Amphitheater Dan Fenton –Project Oversight Bethanie De Rose –Project Manager JLL was hired by Destination Madison in conjunction with the City via the Monona Terrace Community & Convention Center to conduct the detailed analysis of current space utilization. JLL worked closely with both CVB and City leadership teams to conduct the utilization and optimization study. The study included a review of 5-years of pre-covid history, space use analysis, revenue impact analysis, hotel room impact and mix of business by event type and market segment. Additionally, future pipeline business and lost business was studied to determine pace to goals. JLL set a 5-year plan forward to optimize the MTCCC including a sales prospecting plan, booking policy with new priorities and team deployment plan. The plan was delivered and presented to both boards in January of 2022 and both Destination Madison and MTCCC teams are actively working on implementation. This process included a joint booking policy, sales goals and prioritization schedule which enables both the CVB and building teams to work more seamlessly towards optimization. 25 Similar Projects Destination Madison Convention Center Study Convention Center Utilization & Optimization Study Sales Deployment Planning Business Mix Analysis Dan Fenton –Project Oversight Bethanie De Rose –Project Manager City of Los Angeles’ Greek Theatre in Griffith Park JLL was selected by the City of Los Angeles, Department of Recreation and Parks to reposition the Greek Theater through the development of a new vision and facilitating a new agreement between the LA Greek Theatre and a new operator and promoter. The Greek Theatre is one of many venues managed by the Department, which has an annual budget of $200 million dollars. The goal of this project was to determine how to best position the theatre to compete for top revenue shows among larger venues in the area. Our firm led in the community and stakeholder engagement process including completing over 100 interviews and surveys and meeting with individuals in the surrounding neighborhoods and park area. We also worked with the finance department in the creation and administration of the RFP process to solicit a new operator/promoter. In addition, we managed the subcontractor responsible for budgeting and recommending the necessary capital improvements for the theater, estimated in the range of $10 to $20 million. JLL led the process to bring new revenues through a comprehensive RFP process that required a significant financial commitment from the proposers. This process led to the City’s decision to self-operate the facility. This change has resulted in increased revenues by over $2 million annually since opening the venue to multiple promoters. 27 Similar Projects Market Demand for Greek Theatre Futures Study Community & Neighborhood Engagement Plan RFP Development & Facilitation Contract Negotiation Dan Fenton –Project Oversight Bethanie De Rose –Project Manager Red Rocks Park and Amphitheatre, Morrison Colorado JLL engaged with the City and County of Denver’s Arts and Venues Department for the development of a long-range strategic plan. The plan developed guiding principles for the continued operation of Red Rocks Amphitheatre that included the following: •Current Market Conditions •Situational analysis of Denver’s current cultural landscape including trends, demographic shifts, policies & assets. •Analysis of market trends in the concert entertainment industry. •Land Use and Built Environment •Developing 5-year capital improvement plan for the Amphitheatre and support areas of the venue. •Developing land use and preservation guidelines for the surrounding park grounds (excluding property managed by Denver Parks and Recreation). •Utilization and Operations •Evaluation of Venue Operations related to efficiency and delivery of service to the 3 P’s (patrons, performers, promoters) and other visitors. •Evaluation of the capacity of venue activity in a calendar year, including a balanced model for utilization of the Amphitheatre for popular concerts as well as other activities. •Evaluation the relationship with existing and future potential promoter agreements. •Evaluation of ancillary operations and contract relationships (Ship Rock Grille, Trading Post, etc.) Similar Projects 35 Similar Projects Biery Witt Performing Arts Center Mt Crested Butte, CO JLL recently worked with the Mt. Crested Butte Performing Arts Center on an innovative new build project to bring conventions and meetings and the performing arts under one, flexible roof. The goal was to design a first-class facility that would enable world-renowned performances to be featured with the seamless ability to transform the space for meeting usage. JLL conducted a market demand study for the usage of the proposed facility in phase one. In phase two, JLL participated in the design and development of the facility with the architectural partner. In addition, JLL projected usage, revenue and expenses related to the fully functional new building. 17 References JLL are proud of our work history and we encourage you to contact our past clients.We have included three contacts that we believe align most closely with the Experience Fayetteville project.We would be happy to provide more project contacts as needed. Mike Crum Previously Chief Financial Officer Charlotte Regional Visitors Authority Currently Public Events Department Director City of Fort Worth 817.392.2501 michael.crum@fortworthtexas.gov 21 Ellie Westman Chin President & CEO Destination Madison 608-258-4944 chin@visitmadison.com Dennis Edwards President & CEO Visit Raleigh 919.270.8344 dedwards@visitraleigh.com PERSONNEL PROJECT TEAM Meet Our Team. 1 Project Staff Together,our team brings unmatched understanding –and the requisite databases,tools,and experiences –of the risks destinations face under various crises scenarios,and the challenges related to achieving not only growth in visitor volume,but sustainable growth that accounts for ongoing impacts to economy, society and the environment. Dan Fenton Executive Vice President JLL Project Role: Project Oversight and Strategy Bethanie DeRose Senior Vice President JLL Project Role: Project Manager, Convention Center Expert Juliet Velázquez Associate JLL Project Role: Market Analysis Mitchel Anzivino Associate JLL Project Role: Market Analysis Dan Fenton Executive Vice President + Director of Global Tourism KEY SECTOR EXPERIENCE Destination Master Planning Tourism Strategic Planning Convention Center Futures Planning Public Venue Assembly Planning & Feasibility Tourism Organization Visioning and Structure Advisory Market Segmentation & Identification Stakeholder Alignment Placemaking EDUCATION + AFFILIATIONS Cornell University Bachelor’s Degree in Hospitality Administration and Management York School Board of Trustees YEARS OF EXPERIENCE 20+ •Hawai'i Tourism Authority •Houston Convention & Visitors Bureau •Little Rock Convention & Visitors Bureau •Lynwood Public Facilities District •Miami Beach Convention Center •Philadelphia Convention & Visitors Bureau •Pompano Beach Cultural Tourism Plan •Raleigh Convention Center •Rochester MN Convention & Visitors Bureau Dan heads up the Global Tourism Team within JLL’s Hotels & Hospitality Group specializing in research, tourism strategy and destination planning. He is the past Chairman of the Board of Destinations International where he launched several initiatives designed to drive more effective practices across Destination Marketing Organizations. KEY EXPERIENCE Dan blends his knowledge of trends in the national and international tourism and hospitality sectors to bring a “big picture” view to what makes destinations more competitive and how communities can set themselves apart. This knowledge was thoroughly applied to help develop the Meet Hawai’i brand and direction. With this perspective, he understands what questions need to be asked and uses that context to evaluate and leverage the resulting data. Before joining JLL, Dan was a Principal for Strategic Advisory Group, which was acquired by JLL in early 2016, for five years. Prior to joining Strategic Advisory Group, he served as President and CEO of Team San Jose for 15 years. KEY PROJECTS •St. Mary’s County, Maryland •Visit Denver •Visit Greenville SC •Visit Sarasota County •Walton County Florida •World Travel & Tourism Council – Tourism Readiness Research •Amelia Island Convention & Visitors Bureau •Charlotte Regional Visitors Authority •Costa Elena Development Advisory •Destinations International •Discover Coronado •Discover Santa Clara •Finger Lakes NY Regional Tourism Council •Fort Worth Convention Center •Greater Raleigh Convention & Visitors Bureau Bethanie DeRose Senior Vice President, Tourism + Destination Development KEY SECTOR EXPERIENCE Destination Master Planning Tourism Strategic Planning Tourism Organization Visioning and Structure Advisory Market Segmentation & Identification Stakeholder Alignment Placemaking EDUCATION + AFFILIATIONS Rutgers University Bachelor’s Degree in Communications Certified Destination Management Executive, Destinations International YEARS OF EXPERIENCE 10+ •Hawai'i Tourism Authority •Houston Convention & Visitors Bureau •Little Rock Convention & Visitors Bureau •Lynwood Public Facilities District •Miami Beach Convention Center •Philadelphia Convention & Visitors Bureau •Pompano Beach Cultural Tourism Plan •Raleigh Convention Center •Rochester MN Convention & Visitors Bureau Based in New York, Bethanie DeRose is a Senior Vice President with JLL’s Hotels & Hospitality Group specializing in tourism strategy, destination development and management. She assists clients with destination strategic planning, tourism readiness and sustainability, convention center asset management, public facility feasibility and overall destination positioning. KEY EXPERIENCE Bethanie has extensive experience in long-term destination and tourism planning efforts including public assembly venues, specifically convention centers, amphitheaters, arena and multi-use facilities. Bethanie is the convention center utilization and optimization expert on the JLL team having conducted assessments of over 25 convention centers in conjunction with the DMO in the last 5 years. Bethanie has also worked closely with industry associations including the World Travel and Tourism Council on a Global Tourism Readiness project as well as Destinations International on the conventions and meetings product audit. She also serves on various Destinations International committees. KEY PROJECTS •St. Mary’s County, Maryland •Visit Denver •Visit Greenville SC •Visit Sarasota County •Walton County Florida •World Travel & Tourism Council – Tourism Readiness Research •Amelia Island Convention & Visitors Bureau •Charlotte Regional Visitors Authority •Costa Elena Development Advisory •Destinations International •Discover Coronado •Discover Santa Clara •Finger Lakes NY Regional Tourism Council •Fort Worth Convention Center •Greater Raleigh Convention & Visitors Bureau Convention Center Futures Planning Public Venue Assembly Planning & Feasibility Juliet Velázquez Associate, Tourism and Destination Development KEY SECTOR EXPERIENCE Destination Master Planning Tourism Strategic Planning Tourism Asset Planning Destination Venue Planning & Feasibility Tourism Organization Visioning and Structure Advisory Market Segmentation & Identification Stakeholder Alignment Placemaking EDUCATION Florida International University Bachelor’s Degree in Communications and Public Relations YEARS OF EXPERIENCE 9+ KEY PROJECTS •Amelia Island Convention & Visitors Bureau •Costa Elena Development Advisory •Discover Coronado •Discover Santa Clara •Fort Worth Convention Center •Little Rock Convention & Visitors Bureau •Lynwood Public Facilities District •Miami Beach Convention Center •Pompano Beach Cultural Tourism Plan •Raleigh Convention Center •Visit Greenville SC •WTTC Index As part of the Strategic Advisory and Asset Management team with JLL’s Hotels & Hospitality Group, Juliet Velazquez assists clients with developing strategic plans for destination growth, developing ways to optimize the effectiveness of tourism assets and overall destination positioning. KEY EXPERIENCE As a marketing strategy professional, Juliet is proficient in identifying and organizing high-level strategies into actionable steps. She has worked closely with industry associations including the World Travel and Tourism Council, through the Global Tourism Readiness project as well as Destinations International on the Global Leadership Committee, Convention Sales and Services Committee, and Event Impact Calculator Product Development Committee. In addition, she was the recipient of the Destinations International 30 Under 30 Award. In her previous role, Juliet served at the Greater Miami Convention and Visitors Bureau (GMCVB) providing business analytics expertise to the Convention Sales team. Prior to the GMCVB, she served as a Public Information Specialist for the City of Miami Beach focusing on Marketing and Communications as Editor of MB Magazine. Mitchel Anzivino Associate, Tourism and Destination Development KEY SECTOR EXPERIENCE Destination Master Planning Tourism Strategic Planning Tourism Asset Planning Destination Venue Planning & Feasibility Tourism Organization Visioning and Structure Advisory Market Segmentation & Identification Stakeholder Alignment Placemaking EDUCATION New York University Bachelor’s Degree in Hospitality and Tourism Management YEARS OF EXPERIENCE 4+ KEY PROJECTS •Amelia Island Convention & Visitors Bureau •Costa Elena Development Advisory •Discover Coronado •Discover Santa Clara •Fort Worth Convention Center •Little Rock Convention & Visitors Bureau •Lynwood Public Facilities District •Miami Beach Convention Center •Pompano Beach Cultural Tourism Plan •Raleigh Convention Center •Visit Greenville SC •WTTC Index Based in New York, Mitchel Anzivino is an Associate with JLL’s Hotels and Hospitality Group since June 2021, specializing in tourism strategy, destination development and management. His role includes collaborating with clients to organize data to build strategy and produce optimized recommendations. In addition, he assists clients with tourism readiness and sustainability, public facility feasibility, convention center asset management, overall destination strategic planning and destination positioning. KEY EXPERIENCE Joining the JLL team in June 2021, Mitchel brings multiple years of hospitality and tourism experience. He has comprehensive knowledge in asset utilization, capital planning and due diligence support having recently completed domestic projects for Las Vegas, Nevada; and Dallas, Texas. Internationally, Mitchel has improved financial and operational performance of luxury hotels throughout Riyadh, Saudi Arabia; Amman, Jordan; Kuwait City, Kuwait and London, England by enhancing management operating systems, forecasting strategies, and brand positioning. Mitchel also continues to collaborate with the World Travel and Tourism Council on creating a standard for Global Tourism Readiness. He is skilled in interpreting and organizing data from several sources to deliver analytics that both build strategic insights and drive optimizations for clients. Before joining JLL, Mitchel was a consultant at Carpedia Hospitality for 2 years, an implementation-based consultancy focused on improved APPROACH PROJECT SCOPE 32 PROJECT SCOPE SUMMARY Your Priorities Are Ours JLL is unmatched in our ability to deliver because our planning experts are backed by data and industry expertise on convention centers. We are not a theory firm –JLL’s stakeholder-driven and data backed, strategic process produces plans that energize our clients through innovative direction, inspire their stakeholders to greater levels of support through their engagement and emboldens their communities to overcome destination deficiencies. Convention Center Optimization Construct a comprehensive perspective on the event compression for the booking year and develop a plan for the future of the Fayetteville Town Center. The optimization assessment is constructed based on expressed room night goals combined with revenue needs for the Center. The outcome is not based on maximizing either perspective, but rather enhancing the mix of potential business. JLL has completed optimization assessments in Columbus, Miami, Philadelphia, Rochester, Minnesota, Santa Clara, California Madison, Wisconsin and many others. We have done this work in mature convention markets and small to medium size markets, as well as in-hotel only meetings markets. 33 PROJECT SCOPE Convention Center Optimization Space analysis JLL will create a custom template for the utilization data on past activity within the Fayetteville Town Center by day for every room and space used. This is a very detailed analysis of how the Town Center is actually utilized and JLL will work closely with the Town Center systems administrator to extract and analyze this data. JLL will display the results of the space analysis in a summary report for Experience Fayetteville. Booking policy review In parallel with completing the space analysis JLL will review the current booking policy used to guide decision making. JLL will report on the current “occupancy” and mix of business in alignment with the booking policy at the Town Center as an outcome of the process. JLL will make any recommendations as to modifications that are needed to the current booking policy to increase utilization or sales. Assessment of the city-wide convention universe –overall demand JLL will analyze available information from the sales databases and MINT databases for an initial determination of the “universe” of the city-wide group market for Fayetteville. JLL will analyze the results in collaboration with the sales teams. This analysis is designed to determine the potential demand for city- wide conventions for the Fayetteville Town Center. Hotel Room Block Confirmation JLL will confirm the available room block with the impacted hotels to understand the current capacity related to city-wide conventions. This will inform the correct sizing for conventions to optimize use of the Fayetteville Town Center. Determine Optimal Convention Center Business Mix Based on the data and insight collected from the above steps, JLL will determine the optimal number of “first priority” city-wide events, “second priority” room- night generating events, and the overall event mix by type of event by year. JLL will work collaboratively with the sales leadership to develop the targeted optimal business mix. JLL will also identify any challenges to achieving the optimal utilization and mix of business based on the research conducted. Develop Multiple Year Projections & Sales Activity JLL will develop a multi-year projection with the annual goals required to achieve the optimal number of city-wide conventions and room nights associated. This will include an outline of the amount of sales activity that will be required to achieve the event booking goals. Set Goals –Multi Year “Glide Path” JLL’s process will include developing multiple year projections (goals) and will finalize those projections in conjunction with Experience Fayetteville leadership. This will set both booking and consumption goals annually for the sales team to achieve optimization. Presentation to Stakeholders JLL will present the overall findings and proposed goals to Experience Fayetteville executive and sales leadership. Additional presentations will be scheduled to include the Town Center, hotels and other stakeholders as appropriate. JLL will work collaboratively to gain support and buy-in from all respective stakeholders as an outcome of this process. JLL will prepare this final summary presentation to include any additional recommendations or considerations for future planning as it relates to Experience Fayetteville and the Fayetteville Town Center sales efforts. Phase 1 Phase 2 Phase 3 Phase 4 33 TIMELINE + BUDGET Scope Task Fee by Task Completed Phase 1 10,000$ Phase 2 20,000$ Phase 3 25,000$ Phase 4 10,000$ Total: 65,000$ plus applicable travel expenses Fayetteville Town Center | Cost Proposal Scope Step / Month Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Phase 1 Phase 2 Phase 3 Phase 4 Fayetteville Town Center | Timeline Proposal JLL proposes the following six month timeline and cost proposal for completing phases one through four and will include two (2) visits to Fayetteville. Additionally, JLL estimates a potential start date in March/April 2023. Contact JLL Contact Information: Daniel Fenton, Executive Vice President M +1 408 309-3450 dan.fenton@am.jll.com Bethanie DeRose, Senior Vice President M +1 609 457 5361 bethanie.derose@am.jll.com Let’s Talk We would be honored to be your partner. Memo To: Molly Rawn, CEO, Experience Fayetteville Fayetteville Advertising & Promotion Commissioners From: Jennifer Walker, VP Finance, Experience Fayetteville Date: November 18, 2022 Re: 2023 Budget Presentation The attached budget packet is presented by Experience Fayetteville staff for consideration. The following documents are included for review: 1.Summary of Consolidated Budgeted revenue and expenditures (1 page) 2.Appropriation Document (4 pages) *voting document 3.Detailed Experience Fayetteville Budget (3 pages) 4.Detailed Fayetteville Town Center Budget (2 pages) 5.Detailed Cyclocross Legacy Funds Budget (1 page) Staff Recommendation: A vote to adopt the attached 2023 Consolidated Operating Budget as presented in the appropriation document. Fayetteville A&P Commission Consolidated Budget 2023 Proposed Budget Summary Account Number Account Name Consolidated  Budget 2022 Consolidated  Budget 2023 Experience  Fayetteville  Budget 2022 Experience  Fayetteville  Budget 2023 EF %  Change vs  2022 Town Center  Budget 2022 Town Center  2023 FTC %  Change  vs  2022 REVENUE 40000 Revenue 41000 Hotel, Motel, Restaurant Taxes 4,154,500       4,960,000               4,154,500       4,960,000         19%‐ ‐ 0% 42000 Rental Income 351,000           492,000 5,000               6,500                 30% 346,000           485,500             40% 43000 Event Income 35,700             44,972 32,700             37,472              15% 3,000               7,500                 150% 44000 Sales 51,200             53,700 51,200             53,700              5%‐ ‐ 0% 45000 Parking Revenue 33,000             26,000 ‐ ‐ 0% 33,000             26,000               ‐21% 46000 Advertising Income 3,000               3,500 3,000               3,500                 17%‐ ‐ 0% 48000 Other Revenue 182,255           83,000 182,255           83,000              ‐54%‐ ‐ 0% 49000 Interest Income 8,250               7,550 8,000               7,500                 ‐6% 250 50  ‐80% TOTAL REVENUE 4,818,905       5,670,722               4,436,655       5,151,672         16% 382,250           519,050             36% EXPENSE 50000 Rental/and Event Expenses 216,150           384,450 124,650           146,450            17% 91,500             238,000             160% 55000 Downtown Initiative 100,000           ‐ 100,000           ‐ 0%‐ ‐ 0% 60000 Payroll and Related Expenses 1,616,044       1,933,886               1,134,973       1,420,296         25% 481,071           513,590             7% 70000 Operating  Expenses 1,829,776       2,149,386               1,521,076       1,730,906         14% 308,700           418,480             36% 71000 Marketing 928,555           1,003,015               916,455           917,594            0% 12,100             85,421               606% 72000  Sales and Development 205,098           360,550 202,098           355,450            76% 3,000               5,100                 70% 73000 Office and Administrative 159,134           200,535 145,534           174,130            20% 13,600             26,405               94% 74000 Travel 53,190             72,860 51,490             61,960              20% 1,700               10,900               541% 75000 IT Expenses 110,401           133,381 100,601           122,171            21% 9,800               11,210               14% 76000 Insurance 26,750             27,050 22,250             22,200              0% 4,500               4,850                 8% 77000 Facilities 346,648           351,995 82,648             77,401              ‐6% 264,000           274,594             4% 80000 Tourism Support 239,815           403,000 239,815           403,000            68%‐ ‐ 0% 90000 Other Expenses 807,000           800,000 807,000           800,000            ‐1%‐ ‐ 0% TOTAL EXPENSE 4,808,785       5,670,722               3,927,514       4,500,652         15% 881,271           1,170,070         33% Net Revenue/(Loss)10,120          0 509,141        651,020       28% (499,021)       (651,020)      30% 77800 Capital Expenditures 595,000           638,000 90,000             262,000            191% 505,000           376,000             ‐26% Adjusted Net Revenue/(Loss)(584,880)         (638,000)                 419,141           389,020             ‐7% (1,004,021)      (1,027,020)        2% 2023 Proposed Budget Appropriation Document 3 Fayetteville A&P Commission Consolidated Budget 2023 Proposed Budget for Adoption Account Number Account Name Consolidated  Budget 2023 Experience  Fayetteville  Budget 2023 Town Center  2023 REVENUE 40000 Revenue 41000 Hotel, Motel, Restaurant Taxes 4,960,000 4,960,000         ‐  42000 Rental Income 492,000 6,500                 485,500              42100 Facility Rental 250,000 ‐ 250,000              42200 Rental Items 30,000 ‐ 30,000                42300 Alcohol Sales 104,000 6,500 97,500                42400 Rental Services 108,000 ‐ 108,000              43000 Event Income 44,972 37,472               7,500  43100 1st Thursday Income 25,472 25,472               ‐  43200 LOTO Income 12,000 12,000               ‐  43400 Other Event Income 7,500 ‐ 7,500  44000 Sales 53,700 53,700               ‐  44200 Visitor Store Sales 53,700 53,700               ‐  44210 Regular Store Sales 51,000 51,000               ‐  44220 Consignment Sales 2,700 2,700 ‐  45000 Parking Revenue 26,000 ‐ 26,000                45100 Parking Machine Revenue 11,000 ‐ 11,000                45200 Parking Lease Revenue 15,000 ‐ 15,000                46000 Advertising Income 3,500 3,500                 ‐  48000 Other Revenue 83,000 83,000               ‐  48800 Other Grants / DSAC 83,000 83,000               ‐  49000 Interest Income 7,550 7,500                 50  49001 Investment Account Interest 3,000 3,000 ‐  49002 Checking Account Interest 4,550 4,500 50  TOTAL REVENUE 5,670,722 5,151,672         519,050              EXPENSE 50000 Rental/and Event Expenses 384,450 146,450            238,000              51000 Rental Expenses 212,000 4,000                 208,000              51200 Linens 18,000 ‐ 18,000                51300 Alcohol and Bar Supply 88,000 4,000                 84,000                51310 Alcohol 79,000 4,000 75,000                51320 Bar Supplies 9,000 ‐ 9,000  51400 Rental Services 106,000 ‐ 106,000              52000 Event Expenses 131,250 101,250            30,000                52100 1st Thursday Expenses 67,200 67,200               ‐  52200 LOTO Expenses 28,400 28,400               ‐  52400 Other Event Expenses 35,650 5,650 30,000                4 Fayetteville A&P Commission Consolidated Budget 2023 Proposed Budget for Adoption Account Number Account Name Consolidated  Budget 2023 Experience  Fayetteville  Budget 2023 Town Center  2023 53000 Visitors Center & Museum Store 41,200 41,200               ‐  53200 Visitors Center 38,700 38,700               ‐  53210 Goods for Sale 37,000 37,000               ‐  53220 Store Supplies 1,700 1,700 ‐  53300 Consignment Sales Expenses 2,500 2,500 ‐  60000 Payroll and Related Expenses 1,933,886 1,420,296         513,590              61000 Wages 1,424,122                1,054,929         369,193              62000 Payroll Tax Expense 125,074 90,979               34,095                62100 Federal (941) Payroll Taxes 104,074 77,494               26,580                62300 SUTA 21,000 13,485               7,515  63000 Benefits 295,510 255,880 39,630                63100 Health and Other Employee Insurance 166,477 136,894             29,583                63200 Company Retirement Contributions 124,033 113,986             10,048                63300 Car Allowance 5,000 5,000 ‐  64000 Contract Labor 81,500 13,500               68,000                65000 Payroll Processing Fees 7,680 5,008 2,672  70000 Operating  Expenses 2,149,386 1,730,906         418,480              71000 Marketing 1,003,015 917,594 85,421                71100 Advertising Expenses 464,200 462,100 2,100  71110 Agency Advertising 400,000 400,000             ‐  71120 Non‐Agency Advertising 64,200 62,100               2,100  71200 Agency Retainer and PR 174,000 174,000             ‐  71250 Mobile Marketing 21,350 21,350               ‐  71300 Promotion 237,194 167,194 70,000                71310 Marketing Programs 164,494 94,494               70,000                71315 Photo and Video 65,000 65,000               ‐  71350 Banners 7,700 7,700 ‐  71400 Printing 91,000 78,000               13,000                71410 Visitors Guide 20,500 20,500               ‐  71420 Other Brochures 70,500 57,500               13,000                71500 Website 9,771 9,450 321  71600 Mailings 5,500 5,500 ‐  72000  Sales and Development 360,550 355,450 5,100  72100 Promotional Items 23,544 20,544               3,000  72300 Groups 6,000 6,000 ‐  72400 Sports and Cycling 86,400 86,400               ‐  72500 Meetings 18,500 18,500               ‐  72600 Memberships 31,104 29,504               1,600  72700 Tourism & Client Devel.195,002 194,502             500  5 Fayetteville A&P Commission Consolidated Budget 2023 Proposed Budget for Adoption Account Number Account Name Consolidated  Budget 2023 Experience  Fayetteville  Budget 2023 Town Center  2023 73000 Office and Administrative 200,535                   174,130            26,405                73100 Office Expenses 55,835                     40,230               15,605                73110 Office Supplies 9,620                       7,600                 2,020                   73120 Office Equipment Leases 7,448                       4,948                 2,500                   73130 Office Equipment Purchases 5,590                       590                    5,000                   73140 Subscriptions 1,627                       1,542                 85                        73150 Employee Relations 14,500                     11,000               3,500                   73160 Training 15,525                     13,525               2,000                   73170 Postage & Shipping 1,525                       1,025                 500                      73200 Fees 6,800                       4,300                 2,500                  73210 Bank Service Charges 500                           500                     ‐                       73220 Credit Card Fees 6,300                       3,800                 2,500                   73400 Business Taxes & Licenses 10,900                     2,600                 8,300                   73500 Accounting, Audit & Legal 28,500                     28,500                ‐                       73510 Accounting Fees 500                           500                     ‐                       73520 Audit Fees 25,000                     25,000                ‐                       73530 Legal Fees 3,000                       3,000                  ‐                       73900 Collection Expenses 98,500                     98,500                ‐                       74000 Travel 72,860                     61,960               10,900                74100 Lodging 28,500                     23,800               4,700                   74200 Mileage 9,635                       7,135                 2,500                   74300 Transportation 26,825                     25,525               1,300                   74400 Meals Out of Town 7,900                       5,500                 2,400                   75000 IT Expenses 133,381                   122,171            11,210                75100 Computer Hardware 10,125                     7,125                 3,000                   75200 Software 70,962                     64,552               6,410                   75300 IT Support and Consulting 52,294                     50,494               1,800                   76000 Insurance 27,050                     22,200               4,850                  76100 Insurance ‐ Building 25,850                     21,000               4,850                   76200 Insurance ‐ W/C 1,200                       1,200                  ‐                       77000 Facilities 351,995                   77,401               274,594              77100 Rent 22,600                      ‐                     22,600                77200 Internet & Telephone 33,900                     15,400               18,500                77300 Utilities 128,600                   19,800               108,800              77310 Electric 93,000                     13,000               80,000                77320 Gas 26,700                     4,700                 22,000                77330 Water 8,900                       2,100                 6,800                   6 Fayetteville A&P Commission Consolidated Budget 2023 Proposed Budget for Adoption Account Number Account Name Consolidated  Budget 2023 Experience  Fayetteville  Budget 2023 Town Center  2023 77400 Repairs and Maintenance 92,530 32,530               60,000                77500 Janitorial Supplies 32,000 2,000 30,000                77600 Maintenance Contracts 42,365 7,671 34,694                80000 Tourism Support 403,000 403,000 ‐  80100 Current Year grants 120,000 120,000             ‐  80300 Theatre Squared Contribution 200,000 200,000             ‐  80400 Other Grants / DSAC 83,000 83,000               ‐  90000 Other Expenses 800,000 800,000 ‐  90100 Bond Payments 700,000 700,000             ‐  90200 Contribution to Capital Reserve 100,000 100,000             ‐  TOTAL EXPENSE 5,670,722 4,500,652         1,170,070           Net Revenue/(Loss)0 651,020       (651,020)  77800 Capital Expenditures 638,000 262,000 376,000              Adjusted Net Revenue/(Loss)(638,000) 389,020 (1,027,020)         2023 Proposed Budget Experience Fayetteville Detail 8 Fayetteville A&P Commission Experience Fayetteville ‐ Detail 2023 Proposed Budget Experience  Fayetteville 2022  Budget Experience  Fayetteville 2022  Projected Experience  Fayetteville 2023  Proposed Budget EF % Change  vs 2022  BUDGET EF % Change  vs 2022  PROJECTED REVENUE Hotel, Motel, Restaurant Taxes 4,154,500 4,519,600 4,960,000 19% 10% HMR Taxes 4,119,500 4,475,600 4,925,000 20% 10% PY HMR 35,000 44,000 35,000 0%‐20% Rental Income Alcohol Sales 5,000 5,800 6,500 30% 12% Event Income 32,700 33,200 37,472 15% 13% 1st Thursday Income 21,500 22,000 25,472 18% 16% LOTO Income 11,200 11,200 12,000 7% 7% Sales 51,200 68,500 53,700 5%‐22% Visitor Store Sales 51,200 68,500 53,700 5%‐22% Regular Store Sales 50,000 65,000 51,000 2%‐22% Consignment Sales 1,200 3,500 2,700 125%‐23% Advertising Income 3,000 3,200 3,500 17% 9% Banner Income 3,000 3,200 3,500 17% 9% Other Revenue 182,255 258,423 83,000 ‐54%‐68% Other Revenue 168,725 168,925 0 ‐100%‐100% Cycling Coordinator Grant 10,530 10,528 0 ‐100%‐100% Other Grants /DSAC 3,000 78,970 83,000 2667% 5% Interest Income 8,000 7,800 7,500 ‐6%‐4% Investment Account Interest 3,000 3,000 3,000 0% 0% Checking Account Interest 5,000 4,800 4,500 ‐10%‐6% TOTAL REVENUE 4,436,655 4,896,523 5,151,672 16% 5% EXPENSE Rental/and Event Expenses 124,650 126,400 146,450 17% 16% Rental Expenses 0 2,800 4,000 0% 0% Alcohol 0 2,800 4,000 0% 0% Event Expenses 76,450 77,900 101,250 32% 30% 1st Thursday Expenses 41,000 44,000 67,200 64% 53% LOTO Expenses 32,100 32,100 28,400 ‐12%‐12% Other Event Expenses 3,350 1,800 5,650 69% 214% Visitors Center & Museum Store 36,200 38,200 41,200 14% 8% Visitors Center 36,200 38,200 41,200 14% 8% Goods for Sale 32,500 35,000 37,000 14% 6% Store Supplies 1,700 1,700 1,700 0% 0% Consignment Sales Expenses 2,000 1,500 2,500 25% 67% Museum Activities 12,000 7,500 0 ‐100% 0% Downtown Initiative 100,000 100,000 0 ‐100% 0% Payroll and Related Expenses 1,134,973 1,119,200 1,420,296 25% 27% Wages 896,031 895,000 1,054,929 18% 18% Payroll Tax Expense 79,686 70,000 90,979 14% 30% Federal (941) Payroll Taxes 65,601 65,000 77,494 18% 19% SUTA 14,085 5,000 13,485 ‐4% 170% Benefits 138,268 137,600 255,880 85% 86% Health and Other Employee Insur 107,467 107,000 136,894 27% 28% Company Retirement Contributio 25,801 25,600 113,986 342% 345% Car Allowance 5,000 5,000 5,000 0% 0% Contract Labor 16,300 12,000 13,500 ‐17% 13% Payroll Processing Fees 4,688 4,600 5,008 7% 9% Operating  Expenses 1,521,076 1,467,900 1,730,906 14% 18% Account Name 53220 53300 54000 55000 60000 61000 70000 42000 48800 49000 48000 48200 48300 53200 53210 Account Number 49001 49002 50000 51000 51310 52000 52100 52200 52400 53000 46000 46200 44210 44220 41000 41100 41200 42300 43000 43100 43200 44000 44200 62000 62100 62300 63000 63100 63200 63300 64000 65000 9 Fayetteville A&P Commission Experience Fayetteville ‐ Detail 2023 Proposed Budget Experience  Fayetteville 2022  Budget Experience  Fayetteville 2022  Projected Experience  Fayetteville 2023  Proposed Budget EF % Change  vs 2022  BUDGET EF % Change  vs 2022  PROJECTED Account NameAccount Number Marketing 916,455 902,500 917,594 0% 2% Advertising Expenses 416,575 445,000 462,100 11% 4% Agency Advertising 400,000 400,000 400,000 0% 0% Non‐Agency Advertising 16,575 45,000 62,100 275% 38% Agency Retainer and PR 175,000 175,000 174,000 ‐1%‐1% Mobile Marketing 35,000 35,000 21,350 ‐39%‐39% Promotion 205,280 200,000 167,194 ‐19%‐16% Marketing Programs 195,280 190,000 94,494 ‐52%‐50% Photo and Video 0 0 65,000 0% 0% Banners 10,000 10,000 7,700 ‐23%‐23% Printing 65,000 35,000 78,000 20% 123% Visitors Guide 20,000 15,000 20,500 3% 37% Other Brochures 45,000 20,000 57,500 28% 188% Website 9,100 7,000 9,450 4% 35% Mailings 10,500 5,500 5,500 ‐48% 0%  Sales and Development 202,098 198,500 355,450 76% 79% Promotional Items 20,000 12,000 20,544 3% 71% Groups 3,795 1,500 6,000 58% 300% Sports and Cycling 90,000 80,000 86,400 ‐4% 8% Meetings 20,845 35,000 18,500 ‐11%‐47% Memberships 25,538 25,000 29,504 16% 18% Tourism & Client Devel. 41,920 45,000 194,502 364% 332% Office and Administrative 145,534 149,900 174,130 20% 16% Office Expenses 24,944 27,300 40,230 61% 47% Office Supplies 5,000 6,500 7,600 52% 17% Office Equipment Leases 4,020 4,100 4,948 23% 21% Office Equipment Purchases 500 1,000 590 18%‐41% Subscriptions 1,330 3,200 1,542 16%‐52% Employee Relations 6,000 6,000 11,000 83% 83% Training 6,919 5,000 13,525 95% 171% Postage & Shipping 1,175 1,500 1,025 ‐13%‐32% Fees 4,000 4,050 4,300 8% 6% Bank Service Charges 500 550 500 0%‐9% Credit Card Fees 3,500 3,500 3,800 9% 9% Business Taxes & Licenses 2,700 2,600 2,600 ‐4% 0% Accounting, Audit & Legal 30,800 26,500 28,500 ‐7% 8% Accounting Fees 0 0 500 0% 0% Audit Fees 27,800 25,000 25,000 ‐10% 0% Legal Fees 3,000 1,500 3,000 0% 100% Collection Expenses 83,090 89,450 98,500 19% 10% Travel 51,490 31,000 61,960 20% 100% Lodging 12,945 10,000 23,800 84% 138% Mileage 1,130 3,000 7,135 531% 138% Transportation 32,325 15,000 25,525 ‐21% 70% Meals Out of Town 5,090 3,000 5,500 8% 83% IT Expenses 100,601 100,700 122,171 21% 21% Computer Hardware 6,700 6,700 7,125 6% 6% Software 55,210 55,000 64,552 17% 17% IT Support and Consulting 38,691 39,000 50,494 31% 29% Insurance 22,250 23,600 22,200 0%‐6% 71350 71400 71410 71420 71000 71100 72600 73160 75200 75300 74100 74200 74300 74400 75000 75100 73140 73150 72700 73000 73100 73110 73120 71500 71600 72000 73900 74000 76000 71250 71110 71120 71200 71300 71310 71315 72100 72300 72400 72500 73130 73170 73200 73210 73220 73400 73500 73510 73520 73530 10 Fayetteville A&P Commission Experience Fayetteville ‐ Detail 2023 Proposed Budget Experience  Fayetteville 2022  Budget Experience  Fayetteville 2022  Projected Experience  Fayetteville 2023  Proposed Budget EF % Change  vs 2022  BUDGET EF % Change  vs 2022  PROJECTED Account NameAccount Number Insurance ‐ Building 20,850 22,200 21,000 1%‐5% Insurance ‐ W/C 1,400 1,400 1,200 ‐14%‐14% Facilities 82,648 61,700 77,401 ‐6% 25% Rent ‐ CHM 15,600 3,000 0 ‐100%‐100% Internet & Telephone 16,500 17,000 15,400 ‐7%‐9% Utilities 22,480 16,500 19,800 ‐12% 20% Electric 13,800 11,500 13,000 ‐6% 13% Gas 4,450 3,000 4,700 6% 57% Water 4,230 2,000 2,100 ‐50% 5% Repairs and Maintenance 21,000 21,000 32,530 55% 55% Janitorial Supplies 2,500 1,800 2,000 ‐20% 11% Maintenance Contracts 4,568 2,400 7,671 68% 220% Tourism Support 239,815 237,000 403,000 68% 70% Current Year grants 0 25,000 120,000 0% 0% Theatre Squared Contribution 200,000 200,000 200,000 0% 0% Dickson Street Art Court 39,815 12,000 83,000 0% 0% 807,000 807,000 800,000 ‐1%‐1% Bond Payments 707,000 707,000 700,000 ‐1%‐1% Contribution to Capital Reserves 100,000 100,000 100,000 0% 0% TOTAL EXPENSE 3,927,514 3,857,500 4,500,652 15% 17% Net Revenue/(Loss) 509,141 1,039,023 651,020 28%‐37% Funded out of Capital Reserves:  Capital Expenditures 90,000 130,000 262,000 191%102% 80300 80400 76200 77000 77800 77310 77320 77330 76100 77400 77500 77600 80000 80100 90000 90100 90200 77100 77200 77300 2023 Proposed Budget Fayetteville Town Center Detail 12 Fayetteville A&P Commission Fayetteville Town Center ‐ Detail 2023 Proposed Budget Town Center  2022 Budget Town Center  2022  Projected Town Center  2023 Proposed  Budget FTC %  Change vs  2022  BUDGET FTC %  Change vs  2022  PROJECTED REVENUE Rental Income 346,000 356,550 485,500 40% 36% Facility Rental 250,000 220,000 250,000 0% 14% Rental Items 21,000 22,950 30,000 43% 31% Alcohol Sales 50,000 60,000 97,500 95% 63% Rental Services 25,000 53,600 108,000 332% 101% Event Income 3,000 7,000 7,500 150% 7% Other Event Income 3,000 7,000 7,500 150% 7% Parking Revenue 33,000 24,500 26,000 ‐21% 6% Parking Machine Revenue 11,000 6,500 11,000 0% 69% Parking Lease Revenue 22,000 18,000 15,000 ‐32%‐17% Interest Income 250 100 50 ‐80%‐50% Checking Account Interest 250 100 50 ‐80%‐50% TOTAL REVENUE 382,250 388,150 519,050 36% 34% EXPENSE Rental/and Event Expenses 91,500 83,600 238,000 160% 185% Rental Expenses 88,500 63,500 208,000 135% 228% Linens 16,500 6,000 18,000 9% 200% Alcohol and Bar Supply 29,000 27,500 84,000 190% 205% Alcohol 24,000 24,000 75,000 213% 213% Bar Supplies 5,000 3,500 9,000 80% 157% Rental Services 43,000 30,000 106,000 147% 253% Event Expenses 3,000 20,100 30,000 0% 0% Other Event Expenses 3,000 20,100 30,000 900% 49% Payroll and Related Expenses 481,071 446,800 513,590 7% 15% Wages 344,751 320,000 369,193 7% 15% Payroll Tax Expense 32,208 27,200 34,095 6% 25% Federal (941) Payroll Taxes 26,043 24,000 26,580 2% 11% SUTA 6,165 3,200 7,515 22% 135% Benefits 46,612 44,100 39,630 ‐15%‐10% Health and Other Employee Insur 37,498 35,000 29,583 ‐21%‐15% Company Retirement Contributio 9,114 9,100 10,048 10% 10% Contract Labor 55,000 53,000 68,000 24% 28% Payroll Processing Fees 2,500 2,500 2,672 7% 7% Operating  Expenses 321,250 285,450 418,480 30% 47% Marketing 12,100 5,600 85,421 606% 1425% Advertising Expenses 5,000 4,000 2,100 ‐58%‐48% Non‐Agency Advertising 5,000 4,000 2,100 ‐58%‐48% Promotion 5,000 600 70,000 1300% 11567% Promotion Expenses 5,000 600 70,000 1300% 11567% Printing 2,000 500 13,000 550% 0% Other Brochures 2,000 500 13,000 550% 0% Website 100 500 321 221%‐36% 51310 51320 51400 52000 52400 49000 49002 50000 51000 51200 51300 45000 45100 45200 42300 42400 43000 43400 Account Number Account Name 42000 42100 42200 71420 71500 60000 61000 62000 62100 62300 71120 71300 71310 71400 63000 63100 63200 64000 65000 70000 71000 71100 13 Fayetteville A&P Commission Fayetteville Town Center ‐ Detail 2023 Proposed Budget Town Center  2022 Budget Town Center  2022  Projected Town Center  2023 Proposed  Budget FTC %  Change vs  2022  BUDGET FTC %  Change vs  2022  PROJECTED Account Number Account Name  Sales and Development 3,900 3,100 5,100 31% 65% Promotional Items 1,000 350 3,000 200% 757% Memberships 1,900 1,750 1,600 ‐16%‐9% Tourism & Client Devel. 1,000 1,000 500 ‐50%‐50% Office and Administrative 25,250 20,850 26,405 5% 27% Office Expenses 16,750 11,850 15,605 ‐7% 32% Office Supplies 5,800 5,000 2,020 ‐65%‐60% Office Equipment Leases 3,850 2,800 2,500 ‐35%‐11% Office Equipment Purchases 3,500 2,000 5,000 43% 150% Subscriptions 500 0 85 ‐83% 0% Employee Relations 1,400 1,000 3,500 150% 250% Training 1,500 1,000 2,000 33% 0% Postage & Shipping 200 50 500 150% 900% Fees 2,000 2,500 2,500 25% 0% Credit Card Fees 2,000 2,500 2,500 25% 0% Business Taxes & Licenses 6,500 6,500 8,300 28% 28% Travel 1,700 700 10,900 541% 1457% Lodging 500 0 4,700 840% 0% Mileage 300 500 2,500 733% 400% Transportation 800 150 1,300 63% 767% Meals Out of Town 100 50 2,400 2300% 0% IT Expenses 9,800 11,200 11,210 14% 0% Computer Hardware 2,000 1,500 3,000 50% 100% Software 5,600 7,500 6,410 14%‐15% IT Support and Consulting 2,200 2,200 1,800 ‐18%‐18% Insurance 4,500 5,500 4,850 8%‐12% Insurance ‐ Building 4,500 5,500 4,850 8%‐12% Facilities 264,000 238,500 274,594 4% 15% Rent 24,000 24,000 22,600 ‐6%‐6% Internet & Telephone 23,000 22,000 18,500 ‐20%‐16% Utilities 97,000 100,500 108,800 12% 8% Electric 70,000 75,000 80,000 14% 7% Gas 20,000 19,000 22,000 10% 16% Water 7,000 6,500 6,800 ‐3% 5% Repairs and Maintenance 60,000 40,000 60,000 0% 50% Janitorial Supplies 25,000 22,000 30,000 20% 36% Maintenance Contracts 35,000 30,000 34,694 ‐1% 16% TOTAL EXPENSE 893,821 815,850 1,170,070 31% 43% Net Revenue/(Loss) (511,571) (427,700) (651,020) 27% 52% Funded out of Reserves: Capital Expenditures 505,000 250,000 376,000 ‐26% 50% 77500 77600 77800 74200 74300 74400 77200 77300 77310 77320 77330 77400 75000 75100 75200 75300 76000 76100 77000 77100 73220 73400 74000 74100 72100 72600 72700 73000 73100 72000 73110 73120 73130 73140 73150 73160 73170 73200 2023 Proposed Budget Supplement Cyclocross Legacy Funds 2 Fayetteville A&P Commission Cyclocross Legacy Funds Program 2023 Proposed Budget  Cyclocross  2023 Budget  LEGACY FUND BEGINNING BALANCE 695,000            EXPENSE Cyclocross Events 40,500              Travel and Bike City Programming 12,500              Sports and Cycling Sponsorships 15,000              Community Investments 13,000              TOTAL EXPENSE 40,500              Legacy Fund Ending Balance 654,500            80500 Account Number Account Name