Loading...
HomeMy WebLinkAbout2022-09-26 - Minutes -Fayetteville Advertising and Promotion Commission Minutes September 26, 2022 Fayetteville Town Center Commissioners Todd Martin, Chair, Tourism & Hospitality Representative Present: Elvis Moya, Tourism & Hospitality Representative Andrew Prysby, Commissioner at -large Sarah Bunch, City Council Representative Mark Kinion, City Council Representative Commissioners Chrissy Sanderson, Tourism & Hospitality Representative Absent: Katherine Kinney Staff: Molly Rawn, CEO; Ashley Cane, Marketing Manager; Jennifer Walker, VP of Finance Chair Martin called the meeting to order at 2:02 pm. Old Business A. Chair Martin asked commissioners to review the August 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 Report. An executive overview of the previous month's activity, issues and opportunities facing the organization. Rawn opened by reviewing the HMR numbers with the commission. July's HMR activity, which was collected in August was $363, 072. As you can see, we are exceeding 2019 numbers by 26% and 2021 numbers by 14% and HMR is up 17% overall for the year. Rawn then discussed this year's budget process: we will be presenting a broad overview of the budget at the October commission meeting which will be a week earlier as Rawn will be traveling to a Bike City Summit during the 4th Monday in October. The October meeting will be a budget preview, which will include any key projects, any major changes and more. The entire budget will be sent at least 2 weeks ahead of the November meeting, which is the Monday after Thankgiving. If the budget is approved in November, there will not be a December meeting. B. Financial Report. Jennifer Walker, VP Finance Walker began by referencing the financial information that has been included in the meeting packet, including a balance sheet and P & L statement for August. Walker stated that our target percent is 67% of overall budget and that revenue is 6% above target and expenditures are 8% under this target of 67%; she noted both of these are good data points. Our net income for August is $646,000 and HMR collection came in at around $2.9 million dollars — when this is seasonally adjusted, it is 8% above budget. Our liquid assets are holding very steady at around $4.67 million and the town center's unearned revenue is $155,000, reflecting future booking. In asking if there were any questions about the financial report, Chair Martin asked Tyler Wilson, General Manager of the town center what he thought about business at the town center and he said he thought it was getting back to the normal cyclical bookings. We have very few open dates in October and November. C. Marketing Report. Ashley Cane, Marketing Manager Cane showed our ads showing dual sports cycling and Razorback football. She also showed information about our First Thursday we held on September 15t" which was a makeup event from August. We obtained lots of great footage from this First Thursday to help promote next year's season. She followed up on the influencer visitors, Arkie Travels and said they did a great job and shared lots of content with their audience and shared their pictures with Experience Fayetteville for our use. Our next influencer will be a motorcycling influencer. She also shared some great new photos of some newer businesses such as Pearls Books and Sleet City. Mike Sells shared our web analytics and stated that they are up compared to last year which is indicative of us spending more funds on ads this year. Top web pages — Home Page 17%, Visitors Guide 42% and Outdoors 304%. Sells also showed the top 5 states with a lot of growth in Illinois and Missouri. In sharing OZCX promotion information, Sells talked about geoframing which is targeting individuals who have been interested in the different cyclo-cross events. Commissioner Moya asked about Vanny's travels and Rawn was able to share that Vanny traveled to the Americana Festival in Nashville. Vanny also traveled to Big Dam Bridge in Little Rock this weekend. Commissioner Moya asked if Trick or Treat on the Square was happening. Rawn said that we are working with the City Parks Department to host this event in the Ramble rather than the square. A press release about this change should be forthcoming. Chair Martin asked Cane more about the advertising around football we've been doing and Cane and Rawn said we are focusing on extending the time a football goer spends in Fayetteville by highlighting other activities that are going on during the weekend. We do this with our Friday roundup of activities. Discussion around creating different visitor itineraries to promote other options of activities was had. D. Vote. Lease agreement with 21 Mountain, LLC for office space for Fayetteville Town Center staff. Our current lease for 5 W. Mountain will be expiring soon and we have been asked to find alternative arrangements which we have with a suite at 21 W. Mountain. Rawn discussed that the staff did as the commission requested and analyzed using Walker Stone House as a possible landing place for the Fayetteville Town Center staff and it was decided, as summarized in an email sent to the commission earlier that month, it would not be cost effective and it would prohibit other, possibly better uses for Walker Stone House. In discussing the proposed lease, Rawn noted that it is inclusive of utilities and the overall rent is less. The Chamber is also willing, at their cost, to wall in some space to give additional office space. Rawn stated that it was both her and also Tyler Wilson's recommendation to sign this lease for three years. Chair Martin entertained a motion to authorize the CEO to sign a three year lease agreement for 21 Mountain LLC for office space beginning October 12, 2022, which Commissioner Bunch moved and Commission Kinion seconded and with no discussion, Chair Martin called for a vote and it passed unanimously. E. Vote. IT Vendor. Agreement with TekTrendz for Managed IT services Rawn opened up by stating that in 2021 our agreement with our current IT Provider was set to expire and the commission authorized it to continue for one more year with the intent to put out a Request for Qualifications this year which we did. We received three responses, of which two were deemed qualitied to provide services. TekTrendz not only was well qualified to meet our managed IT needs, their monthly retainer was at a lower price point. Rawn asked the commission to allow her to accept the quote and Chair Martin entertained a motion to authorize Rawn to accept the quote for the Scope of Work and the Master Services Agreement provided by TekTrendz for a 2 year term for a rate of $2,910 monthly. Commissioner Moya made the motion with Commissioner Prysby seconded it. With no more discussion, it was voted on and it passed unanimously. F. Vote. Presentation on Fayetteville Town Center's participation in the city of Fayetteville's Energy Savings Performance Contract with Johnson Controls. Rawn has learned a couple of key pieces of information since our last meeting, including financing terms. The city will allow us, if we so choose, to finance the initial cost of this for 20 years. It was also discussed that the current lease for the town center is a bit unequitable when considering what is involved in other leases with other component unit buildings such as the library, the Air Museum, etc. Rawn pointed out that our lease needs to be renewed and she thinks when that happens, we can make it more equitable in regard to items such as roofing and plumbing as it was pointed out that other leases contain provisions for roofing and plumbing issues. Chair Martin began discussing the solar panels by stating it's hard to predict the ROI as it is hard to predict energy prices for the next two decades. He stated that he also wanted to acknowledge that we are renters of the town center and we need to consider what types of investments we need to make in a property that is not one we own. He further stated that with the possible ambiguity of the lease he wasn't certain this was an expense we needed to bear. Chair Martin wondered if we adopt solar panels, what would we cut? Rawn stated that if we took the cost savings assumptions made in the 20-year financing option, she did not see that we would not be cutting any programs. Much discussion happened about the possibility of the solar panels and also the new lease that will be negotiated and what might be included in that lease such as roofing and plumbing. It was brought up that we could discuss and propose any changes with the solar project when this is discussed more at the city council. Chair Martin asked for a motion which Commissioner Moya made and Commissioner Prysby seconded: The commission authorizes the CEO to continue negotiations regarding the town center's participation in the city's energy savings performance contract with Johnson Control and empowers her to reach a favorable agreement with the city council based upon the data presented in today's A&P Commission's meeting. After no further discussion, the motion was unanimously approved by Commissioners Bunch, Moya, Prysby, Martin and Kinion. With the time of the meeting, it was decided to put the Welcoming discussion on the October agenda with a shortened marketing report so we could discuss signage examples. G. Chair Martin called for a motion to adjourn the meeting at 3:40 pm. The motion was made by Commissioner Prysby and seconded by Commissioner Moya Minutes submitted by Amy Stockton, Director of Operations, Experience Fayetteville