Loading...
HomeMy WebLinkAbout2002 LEPFA Minutes LANSING ENTERTAINMENT AND PUBLIC FACILITIES AUTHORITY BOARD OF COMMISSIONERS MEETING JANUARY 22, 2002 MINUTES At 8:05 a.m. Chairman Kate McNeely called the meeting to order in the Governor's Room of the Lansing Center; 333 E. Michigan Avenue; Lansing, Michigan 48933. COMMISSIONERS PRESENT: Wes Clark, Tim Haggart, Charles Janssen, Ellen Jeffries, Cyril McGuire, Kate McNenly, Charlotte Sinadinos, Bob Swanson (Ex-Officio) and Ron Wilson (Ex-Officio). COMMISSIONERS EXCUSED: James W. Butler III, Sharon Peters, and Dennis Sykes (Ex-Officio). OTHERS PRESENT: Heidi Brown, Marian Bryant, William Grove, Michael Meyers, Peter Sullivan, and Patrick Talty - Lansing Entertainment and Public Facilities Authority. James Smiertka-City of Lansing. III. ESTABLISHMENT OF THE AGENDA: There were no changes to the agenda. IV. PUBLIC COMMENT: There was no public comment. V. APPROVAL OF THE MINUTES OF DECEMBER 18, 2001: The minutes of December 18, 2001 were adopted as presented. MOTION: Commissioner McNenly SECOND: Commissioner Sinadinos, motion unanimously carried. VI. REPORTS: A. CHAIRMAN'S REPORT: Chairman McNenly noted Peter was on a recent cover of the Greater Lansing Business Monthly. B. SECRETARY/TREASURER'S REPORT: 1. Monthly Financials: Committee Chairman Sinadinos reviewed the following financial statements as approved by the Finance Committee for the period ending December 31, 2001: a. Lansing City Market— December 31, 2001: Building Rental for the current period is up at $4,251 compared to $3,610 for last year. Building Rental for year to date is $29,484 compared to $25,420. Total Operating Revenue for year to date is $40,229 compared to $31,548. Under Operating Expenses, Utilities for year to date are up at $17,676 compared to $14,740 for the prior year. Total Operating Expenses for the current period are $15,519 compared to $18,755 and year to date expenses are $71,179 compared to $72,219 for an Operating Loss year to date of($30,950) compared to the prior year's loss of($40,671). After adding in the City Contribution and adjusting for interest we have year to date revenues over expenses of$18,872 compared to the prior year's $13,256. The Balance Sheet— Total Cash is $63,805 compared to $120,774 for the prior year, which is due to the loans to the Lansing Center. Unreserved Equity for the current year is $148,276 compared to $161,805 for the prior year. LEPFA Board of Commissioners Meeting Page 2 January 22, 2002 Under Budget versus Actual, Building Rental for the current period is better than budget by $223, and for year to date it is better than budget by $3,025. Operating Revenues for year to date are better than budget by $6,536. Operating Expenses — Salaries and Wages for year to date are better than budget by $4,457. Utilities exceed budget for the current period by ($1,126) and for year to date it exceeds budget by ($2,178). The Total Operating Expenses variance is better than budget by $11,195 for an Operating Income better than budget by $17,731 and after adjusting for interest and the City Contribution we are better than budget by $15,859. b. Oldsmobile Park — December 31 2002: Event Revenues are $28.69, the Event Expenses are $5.46 and the Event Income is $23.23, which was applied to the Event Development Fund. For year to date the Utilities are $28,363 which exceeds the prior year's utilities by$4,800. Total Operating Expenses for the current period are $26,235 compared to $25,280 for the prior year and year to date they are $122,432 compared to $148,809 for the prior year. Taking into account the City Contribution and the adjustment for interest, year to date we have an income of$8,000.12 compared to the prior year's loss of($6,460). Our Total Cash position is $185,600 compared to the prior year's amount of $175,076. The Net Event Development Fund for the current year is $50,131 compared to the prior year's $62,754. Unreserved Equity is $97,898 compared to $125,358 last year. At 8:10 a.m. Ellen Jeffries entered the meeting. Under Budget versus Actual, Utilities exceed budget for year to date by ($2,139). Marketing is better than budget by $7,015 for Total Operating Expenses year to date of($122,432) compared to the budgeted amount of($149,252), so we are better than budget by $26,819. After adding in the City Contribution and the adjustment in interest we are better than budget by $24,852. c. Lansing Center— December 31 2001' Operating Revenues for the current period are $46,115 compared to $46,475 for the prior year and for year to date the amount is $415,676 compared to $446,248. Food and Beverage for the current period is $136,145 compared to$149,101 and year to date the amount is $1,184,905 compared to $1,295,542. Equipment Rental for year to date is up at $228,353 compared to the prior year's $219,344. Security for year to date is up at$38,267 compared to $26,896. Labor Service is up for year to date at $78,673 compared to $70,943 for the prior year. Total Operating Revenue for the current period is $232,502 compared to $231,521 last year, and year to date the figure is $2,012,001 compared to $2,144,091 for the prior year for a difference of$132,091. Under Operating Expenses, Salaries and Wages for the current period are $125,205 compared to $115,547 and year to date they are $749,366 compared to $721,223 for the prior year (due to more full-time labor this year and more vacancies last year). Utilities for year to date are $280,943 compared to $268,392 last year. Maintenance of Equipment for year to date is $11,897 compared to $12,291. LEPFA Board of Commissioners Meeting Page 3 January 22, 2002 Food and Beverage expense for the current period is $120,654 compared to the prior year's amount of$127,667 and year to date the figure is $769,193, which exceeds the prior year's amount of $752,082. The net to the Center for the current period is $410,000. The Operating loss for the current period is ($180,718) compared to ($155,126) last year and year to date the figure is ($426,073) compared to ($220,938) for the prior year. Under the Balance Sheet, the total for Cash and Restricted Assets is $400,271 compared to $574,806 for last year. Total Accounts Receivable are at $293,898, which is down from the prior year's $312,026. Under Liabilities — Unearned Revenue/Advanced Rent is $289,787 compared to the prior year's $316,370. Unreserved Equity is at$472,554 compared to $766,863 last year. Under Budget versus Actual, Building Rental for the current period is better than budget by $8,976 and for year to date we are less than budget by ($16,196). Food and Beverage is less than budget for the current period ($30,554) and for year to date we are less than budget by ($77,865). Equipment Rental and Security are both better than budget and our total Operating Revenues for the current period were less than budget by ($53,564) and year to date the figure is less than budget by ($54,223). Under Operating Expenses, Salaries/Wages for the current period are higher than budget by ($23,080) which is attributed to part time labor (stagehands), and for year to date we are better than budget by $7,637. Utilities for the current period are better than budget by $3,605 and for year to date we are also better than budget by $1,152. Security was higher than budget by ($12,802) for year to date, and that is offset by Security revenues. Food and Beverage for the current period is higher than budget by ($1,138) and for year to-date the figure is also higher than budget by ($2,484). Total Operating Expenses for this current period are $413,221 compared to the budgeted amount of $378,347 for a difference higher than budget of($34,874). After netting the Revenues against Expenses, the current period variance is higher than budget by ($88,438) and for year to date we have a variance higher than budget of($42,996). Adjusting for interest and the annual City Contribution, we stand at a variance of($51,601) higher than budget. Committee Chairman Sinadinos moved that the monthly financials for Oldsmobile Park, the Lansing City Market and the Lansing Center for the period ending December 31, 2001 be received as published, and further that the monthly expenses for each entity be approved. Motion: Sinadinos Support: Commissioner McGuire, motion carried. 2. 2002-3 Annual Budget: Peter C. Sullivan, President and CEO reported on the annual budget as follows: Comments: Peter noted the Lansing Center is down compared to budget. January, February and March will be reviewed since December did not reach budget and it is believed that January will not make budget, but February through May may be stronger, we will have a better indication at the end of the month. He noted there is no need for alarm currently, the budget is a result of the flow of the year as compared to last year. LEPFA Board of Commissioners Meeting Page 4 January 22, 2002 Peter noted we based the 2003 budget on generating approximately $4.6 million in revenue and $5.5 million in expenses for the Lansing Center and the City Market which results in a projected contribution of$662,000 or a $127,000 increase compared to FYE 2002. It is based on a projected decrease in operating revenues of$118,000, which is attributed to the downturn of the economy, which has impacted the travel/tourism industry. Oldsmobile Park projections predict incurring approximately $200,000 in expenses for FYE 2003 compared to$204,000 last year and is based on a maturing operation. We also project to present 22 events, comprised of 33 event days, consisting of concerts and community and sporting events. A review of the City Market includes revenues of approximately $77,000 while incurring expenses of $152,000 resulting in a contribution of $69,000 or an estimated 12.6% decrease in funding compared to the prior year. The Salary Allocation Plan is also included and mirrors the past three years' plans, proposing close to 4% of the Lansing Center's staffing be allocated to the ballpark. We based the results on the presentation of approximately 775 days, with 500,000 attendees, generating an estimated economic impact of$13,000,000. Work continues on Common Ground for 2002. We continue to work to make this the signature event and festival, not only for downtown, but also for the Lansing region. We have made tremendous strides from year one to two, and reduced the overall deficit by 66%, while generating an economic impact of approximately $3,300,000. a. Lansing City Market Budget: Operating Revenues are $76,900 vs. $77,700. We anticipate additional rent and less parking, although it appears that the first and second quarter revenues are greater than we anticipated. The offset in quarters three and four are dependant on what the City coordinates with the State and this may require some change in the month rate at the lot, and similarly the same may occur at the Oldsmobile Park lot. In regard to expenses, the Marketing line item has been reduced based on history, and we still feel we can advertise and promote the Market effectively. Overall expenses will be cut by $10,000, which results in a projected City Contribution of$69,600 compared to $79,600 or a 12.5% decrease. b. Oldsmobile Park Budget-. Projected Total Operating Expenses are $214,385 less depreciation, which equates to an income loss of($204,885), which is down compared to the 2002 budget by $211,000. This projection is based upon a slight increase in utilities at $58,400 versus $52,000 which is based on the estimates given by the Board of Water and Light for their increases for steam, electric and gas. Marketing, which has to do with travel, conferences, and seminars, is being reduced to $9,500 and supplies and materials are down as well. Repairs and Maintenance are holding the line with the facility getting older. Overall, the projection is $199,000 versus $204,000. For the past three years we have been funded at $196,000 level by the City and historically our budget has indicated that we would need a greater amount; however, and we have been able to operate with these monies. This year we are projecting $199,000 versus $204,000 and if history repeats itself we will probably receive $196,000. LEPFA Board of Commissioners Meeting Page 5 January 22, 2002 c. Lansing Center: Operating Revenues are estimated at$4,578,000 and Operating Expenses are estimated at $5,352,000. Revenues for 2003 are projected at $118,000 less, and is comprised of Building Rental reduction and Food and Beverage. Peter noted the reduced projection for revenue is based on a review of the events booked and the numbers compared to last year are down; similarly the same is done with Food and Beverage. Peter explained that if Building Rental and Food and Beverage are down, it will affect other revenues, i.e. Equipment Rental and Labor Services. Overall we are budgeting a reduction of$118,000. Expenses have increased slightly in comparison to 2002. Full-time Salaries/Wages are anticipated at $1,472,000 which includes a modest increase of 2%, compared to 3% in prior years. Fringes have increased slightly due to an estimated increase in health care costs. Last year we were able to keep the increase to 12% and hopefully we can keep it below 20% again. Utilities have been budgeted at $566,000, which is a modest increase compared to the actuals for 2001. Marketing was decreased based on a decrease in conference travel. Some funds remain in the budget for advertising and promotions for the Lansing Center for local events. Repairs and Maintenance have decreased slightly, and the same is true for Supplies and Materials. Security revenues are up for revenue and expense due to a rate increase by our service provider. Regarding Food and Beverage expense, the percentage to net(expenses versus revenues) is consistent(38% level) with prior years and is down slightly due to the revenue decrease. Overall Operating Expenses are $5,300,000, which leads us to a proposed City Contribution of$634,000 which is up $127,000 over last year. Peter also noted that any discussions regarding the Lansing Center budget needs to be directly tied to Common Ground. A good session was held with the Finance Committee and he noted he has met with Board members, and we are hopeful that as in the past five years, we will be able to work this out with the City. Chair Sinadinos moved that "The proposed 2003-2004 annual budgets for Oldsmobile Park, the Lansing City Market, and the Lansing Center be adopted as published." SECOND: Commissioner Haggart; motion was unanimously carried. C. PRESIDENT AND CEO'S REPORT: 1. Union Report: Michael Meyers reported that we had tentatively reached an agreement with the Forepeople and it was taken to the members, who voted the agreement down in late December. Thus, the negotiation process will start again from the beginning. We are currently moving forward on a proposal brought forth by the stagehands, and we have received the Maintenance employees' proposal and will begin working on an agreement as well. 2. Lansing City Market: Peter reported that the December Rental Revenue was up by approximately $1,200 compared to last year. Occupancy was at 71%, which is up 15-20% over last year due to recruitment efforts. Th fresh cut Christmas tree vendor, Sally Britton appeared to be happy with the response she received again this year, and is considering returning next year. We are also working with a potential vendor who will sell free-range turkey or chicken, and they hope to be open this spring. We continue to work on the 2002 Marketing Plan, which will be presented to the Market Vendors Association at the February meeting for their input. 3. Oldsmobile Park: No report. LEPFA Board of Commissioners Meeting Page 6 January 22, 2002 4. Lansing Center: During the month of December we hosted approximately 50 events for 64 event days with approximately 20,000 attendees, utilizing 234 room nights for an estimated economic impact of approximately $242,000. As compared to the December 2001, we had four more event days, we were up in attendance by 2,300, and we were up in room nights by 117. Peter indicated it was interesting to note while we had more events and event days, the revenue last year was greater because we had two weddings, which illustrates how the mix of events affect different issues. Sales Update: Peter reported the Michigan Council of Teachers of Math Board is still considering bringing their annual convention here in October 2004 and is also considering the new Novi Expo Center. The Historic Cars of Lansing event slated for July will take place, the funding has been approved and the planner will be John Angell under the auspices of R.E. Olds Museum. A verbal confirmation has been received from the Michigan Council of Square and Round Dance Clubs for August 2004 and 2005.The Michigan Truck Association has verbally confirmed that they would like to bring their first convention and expo in February 2003. Confirmed/Repeat Business: The Michigan Fitness Foundation will be returning with the Governor's Council and Reception/Awards Banquet in October, 2002. Re-booked holiday parties based on their event this December include Mt. Zion Church and Altman Management Holiday party. A contract has been issued for the Lansing School District's Sock Hop, for February 2002. Potential business includes the Mid West Representatives, which is an event dealing with ski and snowmobile equipment which had previously met at the Lansing Center for a number of years, and moved their event to Mt. Pleasant this year; however, it looks like they will return potentially this August and the following February for their large show. The State Bar of Michigan is also considering hosting their annual meeting at the Lansing Center in 2003. Facility Highlights: We hosted the City of Lansing Inaugurations on January 1 with 250 attendees in addition to a reception. January 5 we hosted the "After Hours Tuxedo Bridal Show," on January 13 we hosted the Letts Bridal Show; we also hosted the Michigan Nursery and Landscape which is one of our largest conferences and their attendance was up by almost 1,000 we will have this group through 2004 and then they will rotate to Grand Rapids in 2005, which is typical of the industry. January 9 we hosted the Rotary/General Motors dinner, which was a sold out event for 400 people, President Rick Wagnor from GM was the speaker. A smaller version of the Boat Show was held, WLNS and Krupkas sponsored the event and it is hoped that it will expand next year. January 18- 20 we hosted the New York Dance Alliance, On January 21 we hosted another sold out Dr. Martin Luther King, Jr. Holiday Luncheon and Dr. Nathaniel Thomas, (who is the brother of Freddie Thomas) was the featured speaker, he also spoke at the memorial service for the family and friends of the victims of September 11 at Yankee Stadium. Upcoming events include Michigan Agri-Business, the Veterinarian Conference, the Mayor's State of the City Breakfast, the Great Lakes Ice Cream Show, the Motorcycle Swap Meet, the Central Michigan Home Show, the Michigan Association of Broadcasters and S. Abraham. LEPFA Board of Commissioners Meeting Page 7 January 22, 2002 5. Common Ground: We continue to plan. Our holiday promotion (advanced sales) did very well this year, last year we sold $45 Common cards for a total of$7,500 and this year the amount is $25,000. Peter noted this is a good indication that people understand what Common Ground is, and the value of the advanced purchase. Talent will be announced in the spring, similar to the first two years. D. PERSONNEL COMMITTEE REPORT: No report. E. LONG RANGE PLANNING COMMITTEE: Committee Chairman Charley Janssen reported that the committee's main focus is the expansion of the Lansing Center along with our partners the Greater Lansing Convention/Visitors Bureau — Tom Galyon, and EDC/TIFA — Pat Cook. Last year a feasibility report was compiled, and this fall we sent out the RFP for a financial consultant to review how we could potentially finance an expansion. We had eight responses to the RFP which were narrowed to five, and the Committee and our partners reviewed the RFP's and narrowed them down to two. The two parties made their presentations on January 10 as to what they could do for us as consultants, how they would analyze the problem if there were issues and indicated their experience with other facilities similar to ours in markets that were our size. The committee decided to retain A.G. Edwards. Chair Janssen noted there was a strong consensus to recommend A.G. Edwards, and while their price was higher than what we wanted to pay ($20,000 for each group), Peter was able to discuss the fee with A.G. Edwards and they were able to reduce the cost to the level approved. We have received a proposal from A.G. Edwards to perform an economic feasibility study regarding financing, which would require LEPFA to make a $20,000 contribution. The CVB has already met and approved their $20,000 commitment, and TIFA will meet in February. Committee Chair Janssen moved that, "We proceed with retaining A.G. Edwards to do financial consulting regarding the feasibility of how to finance a Lansing Center expansion and that this Board commit up to $20,000 of the total fees of the committed." Commissioner Jeffries questioned if the$20,000 was budgeted? Peter noted $20,000 was not specifically set aside, but it would fall back on the reserves. However, we feel it is necessary and prudent to have the appropriate information to expand the Lansing Center. The process will take about 10-12 weeks after a letter of agreement is worked out with the consultant; the study will take about 10-12 weeks. Second: Commissioner Haggart, motion unanimously carried. VII. COMMISIONER AND STAFF COMMENTS: 1. Ron Wilson: Ron noted he assisted in booking a wedding at the Lansing Center in July. He also noted Council President Meyer has suggested that Council Member Leeman sit on the board as an ex-officio member. Commissioner McGuire asked under what respect? Ron noted it was on an ex-officio basis. Bob Swanson noted that he would attend as a guest because elected officials are not permitted to sit on the Board, but he is welcome as a member of the public. Ron noted Council is meeting this Thursday at 1:30p.m. and Monday at 6:00 p.m. at Dart Auditorium for the "State of the City Address." LEPFA Board of Commissioners Meeting Page 8 January 22, 2002 2. Bob Swanson: Mr. Swanson presented background information on the City's budget. The Mayor took action to reduce expenditures in the current year. Revenues are down by about 2.5% from what was originally budgeted, and is attributed to a reduction in revenue sharing from the State. It is expected that revenues will increase about 2.5% for next year, with a 5% increase in personnel costs, which is due to negotiated contracts, step increases and an 18% increase in health insurance costs. This means that the non-personnel part of the budget(which is 25% of it) will not be increased, which is where the City contribution to LEPFA comes in. Bob noted that the Mayor makes his budget recommendations the end of February, it is then presented to Council on the third Monday in March. The Mayor will hold budget hearings for all departments in February, and LEPFA will be included. The Governor presents his budget on February 7. VIII. OLD BUSINESS: No report. IX. NEW BUSINESS: No report. At 9:10 a.m. the meeting was adjourned. THE NEXT MONTHLY MEETING IS SCHEDULED FOR TUESDAY, FEBRUARY 26, 2002 AT 8:00 A.M. AT THE LANSING CENTER IN ROOM 101-2. Respectfully submitted, Heidi K. Brown, Recording Secretary LANSING ENTERTAINMENT AND PUBLIC FACILITIES AUTHORITY BOARD OF COMMISSIONERS MEETING FEBRUARY 26, 2002 MINUTES At 8:05 a.m. Chairman Kate McNenly called the meeting to order in the Rooms 101-2 of the Lansing Center; 333 E. Michigan Avenue; Lansing, Michigan 48933. COMMISSIONERS PRESENT: Wes Clark, Tim Haggart, Charles Janssen, Ellen Jeffries, Cyril McGuire, Kate McNenly, Charlotte Sinadinos, Bob Swanson (Ex-Officio) and Ron Wilson (Ex-Officio). COMMISSIONERS EXCUSED: James W. Butler III, Sharon Peters, and Dennis Sykes (Ex-Officio). OTHERS PRESENT: Heidi Brown, Marian Bryant, William Grove, Peter Sullivan, and Patrick Talty - Lansing Entertainment and Public Facilities Authority. James Smiertka-City of Lansing. Harold Leeman, Lansing City Council. III. ESTABLISHMENT OF THE AGENDA: There were no changes to the agenda. IV. PUBLIC COMMENT: There was no public comment. V. APPROVAL OF THE MINUTES OF JANUARY 22, 2002: The minutes of January 22, 2002 were adopted as presented. MOTION: Commissioner Janssen SECOND: Commissioner Haggart, motion unanimously carried. VI. REPORTS: A. CHAIRMAN'S REPORT: No report. B. SECRETARY/TREASURER'S REPORT: 1. Monthly Financials: Committee Chairman Sinadinos reviewed the following financial statements as approved by the Finance Committee for the period ending January 31, 2002: a. Lansing City Market- January 31, 2002: Building Rental for the current period is at$3,492 compared to $2,957 for last year; for year to date the amount is to$32,976 compared to $28,377 for last year. Total Operating Revenue for year to date is $43,756 compared to $39,227. Under Operating Expenses, Salaries/Wages for year to date are $26,923 compared to $26,316 for the previous year. Utilities for year to date are up about $4,000 at $21,005 compared to $17,074 for the prior year. Total Operating Expenses for the current period are $10,733 compared to$7,658 and year to date expenses are$81,912 compared to $79,878 for an Operating Loss year to date of($38,156) compared to the prior year's loss of($40,651). The Balance Sheet - Total Cash for the current period is $41,525 compared to $115,089 for the prior year, which is due to the loans to the Lansing Center. Unreserved Equity for the current year is $145,383 compared to $166,718 for the prior year. LEPFA Board of Commissioners Meeting Page 2 February 26, 2002 Under Budget versus Actual, Building Rental for the current period is ahead of budget by $256, and for year to date it is better than budget by $3,281. Total Operating Revenues are $43,756 compared to the budgeted amount of$42,712. Operating Expenses - The Total Operating Expenses for year to date are $81,912 compared to the budgeted amount of $95,830 for a variance better than budget of $13,917. After adjusting for interest and the City Contribution we are better than budget by $12,709. At 8:10 a.m. Linda Frederickson entered the meeting. b. Oldsmobile Park- January 31, 2002: Under Operating Expenses, Salaries/Wages for year to date are $31,396 compared to $31,398 for the prior year. Utilities for year to date are $33,171, which exceeds the prior year's utilities amount of $31,984. Marketing is about the same at $11,207 compared to $11,498 for the prior year. Total Operating Expenses for the current period are $22,213 compared to $23,430 for the prior year and year to date they are $144,645 compared to $172,239 for the prior year. At 8:11 a.m. Bob Swanson entered the meeting. Our Total Cash position is $167,688 compared to the prior year's amount of $154,469. Unreserved Equity is $95,503 compared to $122,622 last year. Under Budget versus Actual, Operating Expenses - Salaries/Wages are better than budget for year to date by $4,531. Total Operating Expenses for year to date are ($144,645) compared to the budgeted amount of ($180,477), so we are better than budget by $35,831. After adding in the City Contribution and the adjustment in interest we are better than budget by $33,475. At 8:12 a.m. Jim Smiertka entered the meeting. c. Lansing Center- January 31, 2002: Under Operating Revenues, Building Rental for the current period is $80,675 compared to $102,665 last year; and for year to date the amount is $496,351 compared to $548,913. Food and Beverage for the current period is $171,950 compared to $190,550 and year to date the amount is $1,356,855 compared to $1,486,092. Total Operating Revenue for the current period is $326,706 compared to $374,791 last year, and year to date the figure is $2,338,707 compared to $2,518,883 for the prior year for a difference of approximately $180,000. Under Operating Expenses, Salaries and Wages for the current period are $152,705 compared to $123,891 and year to date they are $902,072 compared to $845,114 for the prior year. Utilities for year to date are $328,567 compared to$316,447 last year. LEPFA Board of Commissioners Meeting Page 3 February 26, 2002 Food and Beverage expense for the current period are $145,777 compared to the prior year's amount of$108,795 and year to date the figure is $916,000, which exceeds the prior year's amount of$860,877 and is attributed to three payrolls during the month and more full time positions are filled now. Total Operating Expenses are $2,897,437 compared to $2,754,604 for the prior year. The Operating loss for the current period is ($102,782) compared to $16,505 for last year and year to date the figure is ($260,039) compared to $113,432 for the prior year. Under the Balance Sheet, Total Accounts Receivable are at $370,210, which is up from the prior year's $367,613. Under Liabilities - Accounts Payable are $261,093 compared to $103,550. Unearned Revenue/Advanced Rent is $309,880 compared to the prior year's $315,319. Unreserved Equity is $365,981 compared to $783,368 last year. Under Budget versus Actual, Building Rental for the current period is less than budget by ($13,693) and for year to date we are less than budget by ($29,889). Food and Beverage is less than budget for the current period ($47,247) and for year to date we are less than budget by ($125,113). Total Operating Revenues for the current period are less than budget by ($68,087) and year to date the figure is less than budget by ($123,311). Under Operating Expenses, Salaries/Wages for the current period are slightly higher than budget by ($6,827). Utilities for the current period are on target at($608.13) and are $544.80 for year to date. Total Operating Expenses for this current period are $455,571 compared to the budgeted amount of$452,912 for a difference higher than budget of($2,659). After netting the Revenues against Expenses for year to date we have a variance higher than budget of($118,534). Adjusting for interest and the annual City Contribution, we stand at a variance of($128,584) higher than budget. Committee Chairman Sinadinos moved that the monthly financials for Oldsmobile Park, the Lansing City Market and the Lansing Center for the period ending January 31, 2002 be received as published, and further that the monthly expenses for each entity be approved. Motion: Sinadinos Support: Commissioner McGuire, motion carried. C. PRESIDENT AND CEO'S REPORT: 1. Union Report: Patrick Talty reported that a meeting is scheduled with the Union regarding the Forepeople's agreement on Thursday and we have received the Maintenance employees' proposal and are working on an agreement with them as well. 2. Lansing City Market: Peter reported that the January Rental Revenue was up by approximately $675 compared to last year. Occupancy was at 61%, which is up 11% over last year due to recruitment efforts. Recruitment continues for the summer season at the Market. Valentines Day was very busy for many of the vendors who sell flowers and gifts. Market Beautification projects includes cleaning and painting of the restrooms and other areas in the Market. Discussions also include spring landscaping, i.e. better placement of plants and proper tree trimming. LEPFA Board of Commissioners Meeting Page 4 February 26, 2002 Special events include hosting a Girl Scout cookie booth on Saturdays in March, which is one of the many ways the Market assists community groups. 3. Oldsmobile Park: Peter noted there are two potential new events at Oldsmobile Park. The first is a competitive youth baseball event in June. This group is based out of Denver, and discussions are underway with Dave Wiener regarding "Community Use" funds and Murdock Jemerson is also involved. The second event is a soccer tournament that is being considered for next year. 4. Lansing Center: During the month of January we hosted approximately 39 events for 59 event days with approximately 25,000 attendees, utilizing 1,500 room nights for an estimated economic impact of approximately $500,000. As compared to the January 2001, event days are down, attendance was up, and we were down in room nights by 270. Sales Update: Peter reported the Michigan Association of School Boards confirmed that they will be coming in February 2003. Peter noted Angie Adsit, who used to be an Event Coordinator for LEPFA is now their Meeting Planner and is also considering bringing a merged version of their summer and fall conference here beginning in the winter of 2005. We currently are working with Midwest Reps on returning to the Lansing Center in August 2002 and February 2003, this client left the Lansing Center for the Soaring Eagle. Confirmed/Repeat Business: Linda Frederickson and Barb Doyal will meet with WLNS regarding a Boat Show for next year that will utilize Halls A and B. Linda Frederickson reported that we are working with the CVB on a Wally Byam Airstream event and they are working to involve the Armory, LCC, and the Board of Water and Light in forwarding budget quotes. Linda noted this will be a six-day event that will involve 1,500 airstream trailers in a "Wally Village." The Lansing Center will provide all three exhibit halls, and banquet space for their club and this would be a big piece of business for June 2004. Peter noted further that Wally Byam has sent two letters of intent to the Convention Visitors Bureau to-date. He noted we are working on a bid and the City will be heavily involved, specifically parking. Also, two out of the three receptions have confirmed from the bridal shows. Peter also noted McDonald's Corporation returned on February 22 as a result of their district meeting held in December and are interested in holding more meetings here due to our central location. WLNS is interested in producing an Annual Indoor Car Show and Sale the week before Easter, and will set up the event as a dealership lot in Halls A, B, and C. Facility Highlights: We hosted the Michigan Veterinary Conference on January 24-27 with over 600 attendees; January 28 Mayor Hollister hosted his "State of the City" breakfast here at the Lansing Center; February 1-2 the Great Lakes Ice Cream and Fast Food Show took place; February 3 the Giant Motorcycle Swap Meet took place in Halls A and B; February 5 and 6 the American Waterworks Association was in house; February 8-10 the Michigan Deer and Turkey Spectacular was in house with over 13,000 attendees; February 10 the Capital Area Chefs and Cooks Association held their annual dinner; Lansing Parks and Rec hosted their annual Daddy Daughter Dance in all eight sections of the ballroom with over 480 people attending; February 15 the Bea Christy Awards took place and February 15-17 the 14" Annual Central Michigan Home Show was in house. February 19-20 the Michigan Association of Broadcasters were in house; February 21 the CVB hosted their annual luncheon and February 22-23 S. Abraham and Sons LEPFA Board of Commissioners Meeting Page 5 February 26, 2002 tradeshow took place. Upcoming events include Michigan Asphalt and Paving Association; Michigan Farm Bureau; Michigan Floral; Wolverton; the Sportfishing Boat and Travel Show; Michigan Groundwater Association; the Golf Show; Les Meres et Debutantes Cotillion Ball; Michigan Municipal League; Mary Kay Conference; Cesar Chavez Dinner; Michigan Buggy Builders and the Lansing School District Showcase. 5. Common Ground: We are meeting with the media. We have applied for two grants one is with Ingham County and the other is from the Michigan Council for Arts and Cultural Affairs. The third grant is from the Greater Lansing Convention and Visitors Bureau. Peter noted Linda is completing the grants. Peter noted in compiling the grant information it was noted that close to 40% of 1,000 accounts surveyed were purchasers from outside of Ingham County. Peter noted we are creating a "Friends of the Festival" program for Common Ground, this is similar to programs used for the Cherry Festival and will included $600-$1,500 sponsorship packages through Chris Holman and the Business Monthly. Work also continues on the arts and crafts component in Durant Park on Friday, Saturday and Sunday. D. PERSONNEL COMMITTEE REPORT: Committee Chair Cyril McGuire indicated that there is no report. E. LONG RANGE PLANNING COMMITTEE: Committee Chairman Charley Janssen indicated that there is no report. VII. COMMISIONER AND STAFF COMMENTS: 1. Commissioner Ellen Jeffries: Commissioner Jeffries noted that she had received her Common Ground Volunteer packet and was looking forward to volunteering again this year. Peter commented that we are always looking for volunteers and this year we will also be working with the Boy Scouts to collect PETE containers and bottles and they will receive half of the proceeds. 2. Ron Wilson: March 25°i is the Mayor's budget message. He also noted that assessment notices have been distributed. 3. Jim Smiertka: Mr. Smiertka noted that there is no litigation at this time. He also commented that the Common Ground statistics were interesting and suggested that it might be helpful to present a representative sample for Common Ground ticket sales. Peter noted this year we will have people with mobile laptops or palm pilots filling out surveys to capture as much information as possible. Linda noted just fewer than 300 were surveyed last year and we hope to get 300 per night this year. 4. Commissioner Charley Janssen: Commissioner Janssen noted that Commissioner James Butler had been recognized at the Chamber's annual dinner as their outgoing Chairman and suggested that Chairman Butler may be able to assist in bringing their annual dinner to the Lansing Center now that he is no long their Chairman. LEPFA Board of Commissioners Meeting Page 6 February 26, 2002 VIII. OLD BUSINESS: No report. IX. NEW BUSINESS: No report. At 8:45 a.m. the meeting was adjourned. THE NEXT MONTHLY MEETING IS SCHEDULED FOR TUESDAY, MARCH 26, 2002 AT 8:00 A.M. AT THE LANSING CENTER IN ROOM 205. Respectfully submitted, Heidi K. Brown, Recording Secretary LANSING ENTERTAINMENT AND PUBLIC FACILITIES AUTHORITY BOARD OF COMMISSIONERS MEETING MARCH 26, 2002 MINUTES At 8:02 a.m. Chairman Kate McNenly called the meeting to order in the Room 205 of the Lansing Center; 333 E. Michigan Avenue; Lansing, Michigan 48933. COMMISSIONERS PRESENT: James W. Butler III, Wes Clark, Tim Haggart, Charles Janssen, Ellen Jeffries, Cyril McGuire, Kate McNenly, Charlotte Sinadinos, Bob Swanson (Ex-Officio) and Dennis Sykes (Ex-Officio). COMMISSIONERS EXCUSED: Sharon Peters, and Ron Wilson (Ex-Officio). OTHERS PRESENT: Heidi Brown, Marian Bryant, William Grove, Peter Sullivan, and Patrick Talty - Lansing Entertainment and Public Facilities Authority. Harold Leeman, Lansing City Council. III. ESTABLISHMENT OF THE AGENDA: There were no changes to the agenda. IV. PUBLIC COMMENT: There was no public comment. V. APPROVAL OF THE MINUTES OF FEBRUARY 28, 2002: The minutes of February 28, 2002 were adopted as presented. MOTION: Commissioner McGuire SECOND: Commissioner Janssen, motion unanimously carried. VI. REPORTS: A. CHAIRMAN'S REPORT: No report. B. SECRETARY/TREASURER'S REPORT: 1. Monthly Financials: Committee Chairman Sinadinos reviewed the following financial statements as approved by the Finance Committee for the period ending February 28, 2002: a. Lansing City Market— February 28: Under Operating Revenue - Building Rental for the current period is $3,124 which exceeds the prior year's amount of$2,377; for year to date the amount is $36,100 compared to $30,754 for last year. We received parking for the quarter in the amount of$9,898 for a total year to date amount of$20,223, which exceeds the prior year's $10,417. Total Operating Revenue for year to date is $56,813 compared to $41,639 for last year. Under Operating Expenses, Salaries/Wages are similar to the prior year's year to date. Utilities are up at $24,033 versus $20,080 for the prior year. Total Operating Expenses for the current period are $8,863 compared to $8,042 and year to date expenses are $90,575 compared to $88,310 for an Operating Loss year to date of ($33,762) compared to the prior year's loss of ($46,671). After adding the City Contribution and Interest we have $24,680 compared to the prior year's loss of ($33,053). The Balance Sheet— the cash position is $54,861 compared to $124,049 and is due to the loan to the Lansing Center. Unreserved Equity for the current year is $154,084 compared to $115,496 for the prior year. LEPFA Board of Commissioners Meeting Page 2 March 26, 2002 Under Budget versus Actual, Building Rental is up for the current period for a variance of $154. Year to date Building Rental is better than budget by $3,435. Parking for year to date is $20,223 compared to the budgeted amount of $12,596 for a variance of$7,626 better than budget. Total Operating Revenues for year to date are $56,813 compared to the budgeted amount of$45,742 for a variance of$11,071 better than budget. At 8:10 a.m. Dennis Sykes entered the meeting. Operating Expenses - Utilities are higher than budget by $3,369. Total Operating Expenses for year to date are $90,575 compared to the budgeted amount of$108,316 for a variance better than budget of$17,740. After adjusting for interest and the City Contribution we are better than budget by $26,174. b. Oldsmobile Park- February 28, 2002: Event Revenues are $27.44 and Event Interest is $5, which leaves us with an income $22.44, which was added to the Event Development Fund. Under Operating Expenses, Utilities are down for the current period at $4,991 compared to the prior year's amount of$5,771. Our year to date figure is up slightly at$38,163 compared to $37,756 for the prior year. Maintenance of Facilities for year to date is $5,055 versus $40,988 for the prior year and is attributed to the suite renovation. Total Operating Expense for year to date is $160,597 compared to $197,154. After adding in the City Allocation and interest, we have an income of$9,808 compared to the prior year's loss of($14,135). Our Total Cash position is up at $156,292 compared to the prior year's amount of $122,386. The Net Event Development Fund stands at$49,960 compared to the prior year's amount of$63,235. Unreserved Equity is $99,536 compared to $118,163 for last year. At 8:10 a.m. Harold Leeman entered the meeting. Under Budget versus Actual, Operating Expenses - Salaries/Wages for year to date are $35,591 compared to the budgeted amount of$40,817, which is less than budget by $5,226 for year to date. Utilities are over budget by $2,891 for year to date. We are ahead of budget under Maintenance, Supplies, etc. which is a timing issue. Year to date Total Operating Expenses are $160,597 compared to the budgeted amount of $204,556, thus we are better than budget by $43,958. After adding in the City Contribution, the allocation and interest we are better than budget by $41,164. c. Lansing Center- February 28. 2002: Under Operating Revenues, Building Rental for the current period is $136,845, which is down compared to $140,802 last year; and for year to date the amount is $633,196 compared to $689,716 for a difference of $56,819 over last year. Food and Beverage for the current period is $296,325 compared to $299,264 for last year and year to date the amount is $1,653,000 compared to $1,785,000 which is down $132,000. Equipment Rental is up for the current period at$32,171 compared to $27,713 for the prior year and for year to date the amount is $300,099 compared to $289,303. Security is up for the current period as well as year to date. LEPFA Board of Commissioners Meeting Page 3 March 26, 2002 Tradeshow utilities are down at$94,406 compared$101,318 for the prior year. Total Operating Revenue for the current period is $517,754 compared to $520,522; year to date the figure is $2,856 462 compared to $3,039,405 last year which is down about $182,000. Under Operating Expenses, Salaries and Wages for year to date are $1,036,927 which is up compared to $974,399 for the prior year, which is up about $62,500. Utilities are down for the current period at $42,843 compared to the prior year's amount of $44,642 and for year to date the amount is up at $371,410 compared to $361,089. Food and Beverage expense for the current period is $159,630 compared to the prior year's amount of$123,332, and year to date the figure is $1,075,630, which exceeds the prior year's amount of$984,210. The Operating Loss year to date is ($475,498) compared to ($128,381) for the prior year. Totaling the Cash and the Restricted Assets for the current year we have $405, 536 compared to the prior year's total of $724,581. Accounts Payable are $228,710, which reflects the loan from the City Market versus $103,698. Unearned Revenue/Advanced Rent is $312,536 compared to the prior year's $318,846. Unreserved Equity is $475,349 compared to $828,775 last year. Under Budget versus Actual, Building Rental for the current period is less than budget by ($3,566) and year to date we are less than budget by ($33,455). Food and Beverage is less than budget for the current period by ($4,971) and it is ($130,084) less than budget for year to date. Total Operating Revenues for the current period are less than budget at$517,754 compared to the budgeted amount of$523,936 for a difference less than budget of$6,181 and for year to date the amount is $2,856,000 compared to the budgeted amount of$2,985,000 which is $129,492 less than budget. Under Operating Expenses, Salaries/Wages for year to date is more than budget by $1,108. Fringes and Related costs, due to increases in the medical and workers comp are $22,919. Utilities are better than budget for year to date by $4,717. Maintenance and Supplies and Materials are being monitored at this time and are greater than budget. Food and Beverage is greater than budget by $8,521. Total Operating Expenses for the current period are better than budget by $17,846 and for year to date they are better than budget by $25,377. After netting the Revenues against Expenses for year to date we have a variance higher than budget of ($104,115) Adjusting for interest and the annual City Contribution, we are over budget by $115,556 and after taking into account depreciation we are over budget by $134,000. Committee Chairman Sinadinos moved that the monthly financials for Oldsmobile Park, the Lansing City Market and the Lansing Center for the period ending February 28, 2002 be received as published, and further that the monthly expenses for each entity be approved. Motion: Commissioner Butler Support: Commissioner McGuire, motion carried. LEPFA Board of Commissioners Meeting Page 4 March 26, 2002 C. PRESIDENT AND CEO'S REPORT: 1. Union Report: Patrick Talty reported since the February Board meeting, we have met with the Union three times, and the Forepeople voted on whether to ratify their contract, and as in December they did not ratify it. A meeting has been scheduled with them to discuss why it was not ratified. In regard to Maintenance employees, there are only a few outstanding issues with them, and we hope to receive a proposal from the Facility Workers as well. Commissioner Butler asked what Patrick felt the issues were regarding the Facility Workers contract? Patrick indicated that they felt the hourly wage was too low, and that the signing bonus was not high enough as well. 2. Lansing City Market: Peter reported that February Rental Revenue was up by approximately $700 compared to last year. Occupancy was 62%, which is up 12% over last year. Recruitment continues for the summer season at the Market, and we have signed three new vendors at the Market to begin approximately in March/April. Otto's chicken will be offering home grown, farm fresh chicken beginning the last week in April. Ye Old Bakery will open with pies, pastries and a large selection of breads, and the third vendor will sell homemade soaps, candles, and rustic wood planters, etc. Three additional potential vendors could include one who sells organic bulk food and produce; one is selling organic produce, and a third might sell bedding plants and produce. 3. Oldsmobile Park: Peter noted preparations are underway for Opening Day, which is Sunday, April 7 when the Lugnuts face West Michigan, which begins an eight-day home stand. We were able to secure the competitive youth baseball event on June 8 and 9, and they will use Everett's field with the finals June 9 at Oldsmobile Park. There will be 25 teams in 6 different divisions, which will include 10-16 year olds. Teams are from Wisconsin, Illinois, Lansing, and Flint. Admission is free and the promoter hopes this will be an annual event. Peter noted that Fiesta Del Verano will be presented August 30-31 (instead of June) and Holywahooza will be held in August as well. 4. Lansing Center: During the month of January we hosted approximately 62 events for 89 event days with approximately 38,000 attendees, utilizing 1,070 room nights for an estimated economic impact of approximately $609,000. Compared to February 2001, event days are down, attendance was up, and we were down in room nights and economic impact. Sales Update: Peter reported that WLNS is presenting the First Annual Car Show and Sale in Halls A, B, and C on Easter weekend. He noted we have been working on this show for some time, and it is a brand new one, whereby WLNS has contracted with area car dealers to set up a show room. This group also hosted a Boat Show in January and has booked additional space for next year. Linda noted we have been meeting monthly with the CVB and other City of Lansing people regarding the Wally Byum convention. The Wally Byum folks are coming to Lansing on April 29 to get the specifics on the space. The event is slated for June/July 2004 and this will be their annual convention. Local hotels will be utilized and they will stay at Lansing Catholic Central and the Armory. LEPFA Board of Commissioners Meeting Page 5 March 26, 2002 CATA will be involved and they will have space at the Lansing Center also. Linda noted that this is a large event for Lansing. Peter cautioned that they have requested "per air stream" costs which will include all the entities combining their projections on costs. Our bid as a City will be submitted in June 2002. Confirmed/Repeat Business: Peter noted the St. John's Student Parish confirmed a reception and silent auction for November 2003 for 500 people. A contract has also been issued for a Tom Brennan Tribute dinner in September. In addition we have issued contracts for Destiny's team for October, November and December, 2003 as well as May, July and August 2003. Potential Business: We are considering two comedy shows for November, one is Chondra Pierce and another show with our partner from a Taste of Blackness. Facility Highlights: We hosted Farm Bureau with over 400 people in February for their legislative reception. Additional events included Michigan Floral for the fourth year with over 730 people attending their event. March 3 a "Career Fair Day" took place with over 1,000 students attending from across the state. March 7-10 the Sportfishing and Travel Show took place, their attendance was up. Peter noted in light of our economy, all of our consumer shows were up in attendance. Sportfishing and Travel Show expanded their show to include a fish fry and over 1,000 tickets were sold and 800 coupons redeemed, which is up considerably and their feature was Brody the 1,200 pound Bear. Standard Federal Bank was in house with approximately 1,300 people for an off site business pep rally in Hall C and it was a very nice event put on by Jimmy Whiteside Production from Detroit. The Golf Show was also in house for the fourth year, and they were happy as well. We hosted the Debutante's Ball in all eight sections of the ballrooms and it attracted over 700 people and they will return in 2003. On Friday, March 22 we hosted the Cesar Chavez dinner, which featured Edward James Almos with over 1,000 attendees. The event was video conferenced to the second floor and there was a great deal of positive feedback. Simultaneously we hosted the Mary Kay convention with over 2,200 people in Halls B and C. The Lansing School District held a showcase in the Ballrooms with over 1,000 attendees. March 24 the Michigan Buggy Builders were in house and they attracted close to 3,000 people. Upcoming events include the Car Show, the Lansing Squares, the Michigan Safety Conference, Michigan Education Association and the Michigan Non-Profit Association's Governor's Community Service awards. 5. Common Ground: We continue to move forward on with planning. Peter reported that our cash sponsorships have exceeded last year's at this time, and our goal is higher than last year, and we are cautiously optimistic in light of the economy. Peter noted part of the sponsorship money includes grant money. Linda Frederickson reported that we have received grant money from the Ingham County Hotel/Motel tax funds in the amount of $5,200 and an additional $2,000 for adding the arts and craft component and was based on the regional draw of the festival. Peter noted we should receive a reply on our Michigan Arts Council grant application within the next several weeks. LEPFA Board of Commissioners Meeting Page 6 March 26, 2002 Also a mailing was sent to over 1,500 potential crafters for the Friday, Saturday and Sunday of Common Ground at Durant Park. Out of the 1,500 sent we hope that at least 50 people will participate. Other potential events to be associated with Common Ground on the Friday through Sunday prior to Common Ground include a big band event on July 5 at the Lansing Center, on Saturday a Christian event separate from Holywahooza, and on Sunday we are considering an upscale cabaret type of event. We are cautiously optimistic at this point and Peter noted he will continue to update the Board regarding these events. Peter also reported that he, Linda, and Kevin have had a positive meeting with the pastors involved in Gospelfest last year. We are considering moving the event to the Lansing Center due to weather considerations and a Lugnut home. Commissioner James Butler questioned the impact of holding Holywahooza in August as opposed to July and if it would impact the funding source? Peter noted we have received the money from the Granger Foundation and are moving it to August due to the artist routing and the feedback from our partners. The date change will afford us some additional attendance due to MSU students returning. Commissioner Butler also noted in reference to the Arts and Crafts component, he forwarded the name of Kurt Dewhurst, who was involved in Michigan Fest, and could assist in funding. Peter noted that Kurt has talked to the Mayor regarding Common Ground and there will be a meeting in April that will involve him and he will receive further information at that time. Commissioner Butler asked if any acts have been identified? Peter noted that we are planning to release the names commencing in late April, early May over a week or two period of time. C. PERSONNEL COMMITTEE REPORT: Committee Chair Cyril McGuire indicated that there is no report. E. LONG RANGE PLANNING COMMITTEE: Committee Chairman Charley Janssen reported a lengthy meeting was held with the stakeholders regarding the expansion, with A.G. Edwards. Members in attendance included Tom Galyon, Bob Swanson, Pat Cook, Peter, and Commissioner Janssen noted that it is a complicated and fascinating project because there are so many potential sources of revenue with many political and practical ramifications. There are also the financing aspects and many more issues. Janssen noted that a great group of people are involved and the attitude is very positive and everyone is working together and A.G. Edwards has the selective know how and common sense. Peter reported that we have identified a number of potential funding sources, and each and everyone have political and/or practical issues. Peter noted that he felt the first meeting with A.G. Edwards was a productive one. Commissioner Janssen noted that there isn't a study yet, this session was the brainstorming process to discuss the possible avenues to investigate and was an opportunity to share ideas and information. Peter noted the goal is for county, state and potentially city funding and determining where our time is best spent. Bob Swanson noted that it is a very complex process and that there is nothing that exists right now as a funding source, and they will look at the models used in other states and Michigan. He noted the goal is to produce a series of options and see what works best. The process has begun. LEPFA Board of Commissioners Meeting Page 7 March 26, 2002 VII. COMMISIONER AND STAFF COMMENTS: 1. Bob Swanson: Mr. Swanson reported the Mayor presented his budget last evening to the Council. On his recommendations LEPFA received an increase in contribution of$54,000 over last year, as well as a recommendation to make the remaining $123,000 in capital funding for the Lansing Center available as well. Bob noted Council will be taking up the budget hearing the first week in May beginning on the first through the fourth and hearings have not been scheduled. 2. Commissioner Charles Janssen: Commissioner Janssen noted in light of the tight budget, we are pleased with where we are budgetarily. He also thanked Peter, Patrick, Linda and Bill for picking up the slack in lieu of Michael Meyer's absence. 3. Commissioner James Butler: Commissioner Butler reported that he has received notice that Bob Anderson from General Motors is retiring. He also received notification that Richard Ruiz from National City is also retiring. Bob Swanson noted that Bob Anderson plans to stay in the Lansing area in retirement, but his retirement will be a loss nonetheless. Commissioner Butler questioned how our relationship with the Radisson Hotel is progressing now that Kenric Hall is on board as the new General Manager? Peter noted he and Linda had lunch with him and had a very cordial and frank discussion. Linda noted Kenric attends the monthly "Partners Meeting" which are coordinated with the CVB, LEPFA and the Radisson and our relationship has been positive thus far. 4. Harold Leeman: Councilmember Leeman noted he has attended several functions Lansing Center in March and appreciated the pub being open and used as it was intended. He suggested we continue to market it. 5. Linda Frederickson: Linda reported that Tamara Reaume of LEPFA's sales staff has passed the exam, which now designates her as a "Certified Meeting Planner." VIII. OLD BUSINESS: No report. IX. NEW BUSINESS: No report. At 9:05 a.m. the meeting was adjourned. THE NEXT MONTHLY MEETING IS SCHEDULED FOR TUESDAY, APRIL 23, 2002 AT 8:00 A.M. AT THE LANSING CENTER IN ROOM 202. Respectfully submitted, Heidi K. Brown, Recording Secretary LANSING ENTERTAINMENT AND PUBLIC FACILITIES AUTHORITY BOARD OF COMMISSIONERS MEETING APRIL 23, 2002 MINUTES At 8:00 a.m. Chairman Kate McNenly called the meeting to order in the Room 205 of the Lansing Center; 333 E. Michigan Avenue; Lansing, Michigan 48933. COMMISSIONERS PRESENT: James W. Butler III, Wes Clark, Charles Janssen, Ellen Jeffries, Cyril McGuire, Kate McNenly, Bob Swanson (Ex-Officio) and. COMMISSIONERS EXCUSED: Tim Haggart, Sharon Peters, Charlotte Sinadinos, Dennis Sykes (Ex- Officio) and Ron Wilson (Ex-Officio). OTHERS PRESENT: Heidi Brown, Marian Bryant, Linda Frederickson, William Grove, Peter Sullivan, and Patrick Talty - Lansing Entertainment and Public Facilities Authority. Jack Jordan— City of Lansing and Harold Leeman, Lansing City Council. III. ESTABLISHMENT OF THE AGENDA: There were no changes to the agenda. IV. PUBLIC COMMENT: There was no public comment. V. APPROVAL OF THE MINUTES OF MARCH 26, 2002: The minutes of March 26, 2002 were adopted as presented. MOTION: Commissioner Janssen SECOND: Commissioner McGuire, motion unanimously carried. VI. REPORTS: A. CHAIRMAN'S REPORT: Chairman McNenly noted for the month of May the Finance Meeting will be held on Tuesday, May 28 and the Board will meet on Wednesday, May 29 at 8:00 a.m., due to the holiday weekend. B. SECRETARY/TREASURER'S REPORT: 1. Monthly Financials: In Committee Chairman Sinadinos' absence, Marian Bryant reviewed the following financial statements as approved by the Finance Committee for the period ending March 31, 2002: a. Lansing City Market— March 31, 2002: Under Operating Revenue -Building Rental for the current period is less than last year by about $400 and for year to date the amount is $38,635 compared to $34,601 which is about$4,000 more than last year. Overall total operating revenues are$59,383 compared to$45,521 for last year, which is$13,862 more than last year due to parking increasing by $10,000 and the variance in rent. Under Operating Expenses, Utilities are up slightly for the current period, and year to date the amount is$26,906 compared to$22,376 for last year, which equates to about $4,500 more than last year. Total Operating Expenses for the current period are $8,775 compared to $8,774 and year to date expenses are $99,350 compared to $97,083. After considering the City Contribution and Interest for year to date the income is $22,777 compared to the prior year's loss of($33,130). LEPFA Board of Commissioners Meeting Page 2 April 23, 2002 The Balance Sheet-cash is down at$34,477 compared to$119,880 and is due to the loan to the Lansing Center, which is reflected in accounts receivable at$72,966, and the unreserved equity is $152,181 compared to $115,418. Under Budget versus Actual, Building Rental is better than budget for the current period by $25 and year to date at $38,635 compared to the budgeted amount of $36,042 which is about$2,600 better than budget. Total Operating Revenues for year to date are $59,383 compared to the budgeted amount of$49,282 for a variance of $10,101 better than budget. Operating Expenses - Salaries/Wages are $7,600 better than budget; utilities were more than what was budgeted by $3,600. Marketing expenses year to date are about $12,000 better than budget and overall Total Operating Expenses for year to date are $99,351 compared to the budgeted amount of $121,417 for a variance better than budget of $22,066, netting that with Operating Revenue and interest and the City Contribution we are better than budget by $32,167. After considering the City Contribution and interest on bank accounts we are $29,139 better than budget. b. Oldsmobile Park-March 31, 2002: Event Revenues, which is interest, is$28.59 and expenses, which are what the bank charges are$5, which leaves us with a net income $23.59, which has been added to the Event Development Fund. Under Operating Expenses, Salaries and Wages for the current period are similar to last year as well as year to date. Utilities are down for the current period at$3,156 compared to the prior year's amount of$5,451 and for year to date the figure is about$1,800 less than last year at$41,320 compared to$43,207 for the prior year. Total Operating Expense for the current period are $20,004 compared to $18,934 for last and year to date it is $180,601 compared to$216,089 for last year. After adding in the Operating transfer, the City Contribution, and Interest, we have an income of $9,901 compared to the prior year's loss of($12,975). Our Total Cash position is down slightly at $123,672 compared to the prior year's amount of$137,017. The Net Event Development Fund stands at$49,984 compared to the prior year's amount of$63,467. Unreserved Equity is $99,652 compared to $119,555 for last year. At 8:12 a.m. James Butler entered the meeting. Under Budget versus Actual, Operating Expenses - Salaries/Wages are better than budget by almost $6,000. Utilities are $1,524 more than what was budgeted. Monthly expenses are better than budget by $1,300 and overall total operating expenses are at $180,000 compared to the budgeted amount of$226,000, which is $45,314 better than budget. After considering Interest and the City Contribution, we are at$42,217 and when you back out depreciation, we are about$32,000 better than budget at Oldsmobile Park. LEPFA Board of Commissioners Meeting Page 3 April 23 2002 c. Lansing Center- March 31, 2002: Under Operating Revenues, Building Rental for the current period is $141,590, which is down about$18,000 compared to $159,930 for last year; and for year to date the amount is $774,000 compared to $849,000 for a difference of $75,000 compared to last year. Food and Beverage for the current period is$367,668 compared to$327,139, which is up about$40,000 compared to last year and year to date the amount is $2,020,000 compared to $2,112,000 which is down $91,600 from last year. Marian noted that even though rent was down about $18,000 food and beverage is considerably more than last year. Equipment Rent had a very good month at $61,969 compared to last year's amount of$54,793 and year to date was up about$20,000 compared to last year at$362,069 for this year compared to$344,000 for last year. Tradeshow Utilities are$23,000, which is up compared to last year's amount of$20,005 for the month and year to date the amount is $117,406 compared to$121,323 for last year. Labor Service is at$37,239 compared to$20,432 for last year and year to date the amount is $137,152 compared to $114,432 for last year. Overall, Total Operating Revenues for the month are$643,000 compared to last year's $594,618. Marian noted the benchmark of$500,000 in revenues for a month equates to a very good month and we have only exceeded the $600,000 mark one additional time, so it was a very good month. For year to date we are at$3,500,000 compared to $3,600,000, which is down about $134,000 compared to last year for year to date. Under Operating Expenses, Salaries and Wages are at $152,000 compared to $167,000, and Marian noted last year in March we had three hourly payrolls, and for this year, the amount reflects the payroll for the stagehands. Utilities are at$49,234 compared to $47,901 for last year and year to date we are up about $11,600 at $420,000 compared to last year's$408,000. Supplies and Materials are down for the current period compared to last year at $3,451 compared to $9,182 and for year to date the amount is at$43,122 compared to$48,816 for last year. Food and Beverage expense for the current period is $177,761 compared to the prior year's amount of $192,166, which is interesting because the revenue was up compared to last year and has to do with three hourly payrolls last year. Year to date the figure is $1,253,391, which exceeds the prior year's amount of$1,176,376. The net for Food and Beverage for the month is $188,000 and year to date it is at$759,000, which is about$92,000 less than budget. Considering the City Contribution and interest on bank accounts, we are at a net income of $29,799 compared to last year's $258,000. At 8:15 a.m. Bob Swanson entered the meeting. Cash is down at$301,795 compared to $652,742 for last year. Accounts Receivable are $533,000, which is more than last year at $434,000. Accounts Payable are up compared to last year and reflects the loan from the City Market. Unearned Revenue/Advanced Rent is up compared to last year at $291,000 compared to the prior year's $277,000. Unreserved Equity is $655,000 compared to $928,000 last year. Under Budget versus Actual, Building Rental for the current period is less than budget by ($2,700)and year to date we are less than budget by ($36,000). Food and Beverage is better than budget for the current period by $62,000 and it is ($67,000) less than budget for year to date. Equipment Rent is better than budget by $8,600; Security is better than budget by $19,000. LEPFA Board of Commissioners Meeting Page 4 April 23, 2002 Labor Service year to date is better than budget by $46,000. Total Operating Revenues for the current period are better than budget by$112,000 and year to date it is less than budget by $17,000. Under Operating Expenses, Salaries/Wages for the current period due to the stagehands is over budget by $24,821, and it is over for year to date as well by $25,930. Utilities are at$420,645 versus the budgeted amount of$423,144, and are better than budget by almost$2,500. Food and Beverage is at$177,000 compared to the budgeted amount of$159,000, which equates to almost$18,000 over budgeted for the current period, and year to date it is $26,000 more than budget. Total Operating Expenses for year to date are $3,821,000 compared to the budgeted amount of $3,803,000, which is $17,000 more than budget and netting that with the Operating Expenses it is $34,000 more than budget. After adding in the City Contribution and interest on bank accounts, we are $46,706 more than budget. Commissioner Butler questioned what attributed to Food and Beverage being$18,000 over budget? Peter noted revenues were over by$62,000 and the expenses correspond with the revenues. Marian Bryant moved that the monthly financials be approved. Motion: Commissioner Butler Support: Commissioner McGuire, motion carried. C. PRESIDENT AND CEO'S REPORT: 1. Union Report: Patrick Talty reported since the March Board meeting, they met with the Union twice. The first meeting focused on the Forepeople and why they did not ratify their contract. The second meeting was with the Union to discuss benefit issues. Contract discussions will resume within the next several weeks. Commissioner Butler questioned why they did not ratify the contract? Patrick responded that the two issues were that the signing bonus was not big enough and the retirement language that was proposed, which indicated that the contributions would equal what everyone else in the Authority received. They have not made a counter proposal to-date. Commissioner Butler question what the alternatives were if they continued to prolong the process? Peter noted we are currently maintaining the expired agreement, and we have the right to unilaterally implement our last offer, arbitration, etc. but we are hopeful we will reach an agreement. 2. Lansing City Market: Peter reported that March Rental Revenue was up by approximately $770 compared to last year. Occupancy was 62%, which is up 15% over last year and we anticipate the occupancy for the summer months will be up about 8-10% due to our recruitment efforts. Recruitment continues for the summer season at the Market, we expect to sign three new vendors, the first is a organic bulk foods and produce; the second is a group of organic produce vendors and the third is the bedding plants and a produce vendor and we feel these vendors will go a long way in terms of our goals regarding flowers and produce. Market beautification continues with the painting of a number of the vendor's stalls and by May 1 we hope to have 15-20 spaces painted and the Shiawasee and Cedar sign should be blooming with perennial plants. At 8:25 a.m. Jack Jordan entered the meeting. LEPFA Board of Commissioners Meeting Page 5 April 23, 2002 3. Oldsmobile Park: Peter noted we continue to work operationally on preparing for the season with projects that include caulking, painting, repair of HVAC units, and turning the outside fountain on in May based on the weather. Upcoming events include MSU vs. CMU in baseball this Wednesday at 7:00 p.m. Saturday April 27 the March of Dimes - Walk Across America is scheduled for 8:00 a.m. with 1,500 attendees. May 10-12 MSU will host Ohio State for a four game series. 4. Lansing Center: Peter noted March was a very good month; we hosted approximately 58 events for 88 event days with approximately 37,700 attendees, utilizing 1,850 room nights for an estimated economic impact of approximately $845,000. Compared to March 2001, we are down in event days; attendance, room nights and economic impact which highlights the mix of events, despite having beat gross revenue for the month. Sales Update: Peter reported that the Wally Byam Airstream event continues to be coordinated with the CVB and a number of partners from Lansing. Our price quote was submitted last week and we are looking forward to meeting with them next to solidify the space requirements. If the event happens, there will be 2,000 Airstreams at the Armory. Michigan Society of Association Executives is looking at a July, 2003 event and this event may come to us because of difficulties in Mt. Pleasant, and we will know the end result following their April board meeting. A contract has been issued for the Michigan Education Association Celebration Awards night for Monday, May 20. Confirmed/Repeat Business: Peter noted we have just signed a contract and received a deposit for an event called "Just Catin' Around," which is a cat show in Hall B. A contract has also been issued for the Evans Scholar Retirement Dinner for August for about 550 people, which came out of a contact from a Common Ground volunteer, Mark Guestella. The Cesar Chavez Commission will move their dinner to Hall C from the ballrooms. We have also been contacted by Oral Roberts University to host a Richard Roberts Healing Rally in the later part of June for about 1,000 people. We learned about this event through the web sight and it appears that the event will be televised. Potential Business: We are discussing with the State Bar of Michigan the potential of moving their annual convention from Detroit to Lansing in 2003, which is currently scheduled in Detroit. We have the event in 2002 and 2004 and they were very happy with us. Peter noted he brought this up in case any Board members have any contacts with the State Bar that makes the final decision. Facility Highlights: We hosted a first time "Indoor Car Show and Sale" with six local dealers including Shaheen Chevrolet, Spartan Toyota, Bud Kouts, Metro Ford, Williams Auto World, and Snethcamp Dodge and they are looking to do the show again next year and they did well enough on Easter weekend to return. April 6 we hosted Autowares, which is a group of over 2,000 attendees, dealers, and retailers. April 7 we had the Mid- Michigan Antiquarian Book and Paper Show. April 8 we hosted the MSU Teacher Fair in Hall A, with 175 school districts represented from across the nation, with 1,500 MSU teachers attending. April 12 and 14 we hosted the Mid-Michigan Women's Expo for the second year for this group, and they had an increase of over 30%. LEPFA Board of Commissioners Meeting Page 6 April 23, 2002 They had a health pavilion sponsored by the MSU Healthteam, a food pavilion sponsored by L&L, and clothing and spa pavilion hosted and sponsored by Yellow Strawberry, and the group will return in 2003. April 13 the Skills/USA VICA statewide conference for high school students that deals with plumbing, masonry, electrical, computer and carpentry skills had about 1,000 students attend. Lansing Squares hosted by Lansing Catholic Social Services was in house in addition to the Michigan Safety Conference on April 16 and 17 attended by over 6,000 people with approximately 4,500 boxed lunches served over two days. April 18 Michigan Interscholastic Press Association hosts high school journalism students from across mid—Michigan. April 20 we hosted the "Keepin It Real" talent show and after party with about 1,900 attending the talent show and 3,000 attending the after party which sold out. April 22 the Lansing Charter School Fair was held. Upcoming Events: Michigan Education Association Spring Assembly will be held on April 26-27, Michigan Non-Profit Association Super Conference was held on April 29-30. Michigan Dental is May 8-11, May 17-18 is the INCH Conference. 5. Common Ground: Peter noted this year we will announce the talent the first of May and will have the various genre of music according to their play so that we will get a series of air time over two weeks, which will be more effective. Tickets go on sale Saturday, May 11. In early June we will hold a press party to showcase volunteer group leaders and to discuss the totality of the event. This year we are hoping to add Friday, Saturday, Sunday separate ticketed events under the umbrella of Common Ground. Friday will be the Big Band component. We are also looking at other components, which include the "Crafters Crossroads" for which we received a grant and there will also be a free stage of music on Friday through Sunday at the Crossroads. We will also have a classic car component that will take place on the weekend. There will be some golfing activities on Saturday and Sunday of the event. We will again use the two main stage concept and will have three stages on the weekend, with the two main stages operating each night. We have 60-65% of the talent booked which is similar to the first two years. Peter explained the booking/routing process and reviewed the list of potential acts. We hope to do as well as, or better than last year, our sponsorship dollars are up also, with our goal at $275,000 this year. Currently we are shifting to our operational phase and continue to meet with the Board of Water and Light, and Tim Haggart who has been helpful as well. A meeting is scheduled with LCC for next week and a meeting is scheduled with Public Service in an attempt to reduce expenses. A meeting is scheduled with Kim Carpenter from GM for next week. At the press party we will showcase and highlight a riverboat with the festival, which is a sponsorship package that will be operated by John Chamberlain and can be rented. There will also be a VIP tent, which can be rented on a nightly basis as well. Ticket prices will remain $20 in advance, $25 at the door and the Common Card is $60 and City and Board of Water of Light employees will get the pass for $48. Peter reminded the Board that our budget meeting is May 1 at 2:30 p.m. in Council chambers and he encouraged board members to attend. LEPFA Board of Commissioners Meeting Page 7 April 23, 2002 Commissioner Butler questioned if we share in the maintenance of Oldsmobile Park? Peter noted we share and have entered into a number of service agreements with Lugnuts. Bob Swanson clarified that the agreement between the City and the Lugnuts states that the City is responsible for major maintenance, while the Lugnuts are responsible for routine maintenance and those lines are somewhat hard to draw. Swanson also commented that he felt Peter does a great job of working cooperatively with them, so that many things are shared. Commissioner Butler also questioned if we have been impacted by the Henry Center at MSU? Peter indicated that there is nothing definitive yet, however, Peter, Barb, and Linda Frederick- son have toured the facility and he believes that it will impact our facility in terms of the smaller events because they always like to try new venues and the Henry Center is very high tech and very nice materials were used to build the facility. Commissioner Butler asked for the status on the various Common Ground grants. Peter noted we applied for grants from Michigan Arts Council, Ingham County, and the CVB. Michigan Arts Council was the only entity to deny our request($4,000)because it felt Common Ground was too sports oriented and not cultural enough, despite indications that we would use the funds for development of the children's area in terms of national performers and 25-30 Michigan performers who perform various activities. He noted while we don't agree with the reasons for the denial, he will share his thoughts with Sue Mills. At 9:05 a.m. Patrick exited the meeting. Linda noted we cannot appeal the decision, but can apply next year. It was noted her group also oversees the Ingham County Grant that we did received funding from, as well as the CV B. Commissioner Butler also questioned if Peter had dialog with Kurt Dewhurst regarding the Arts and Crafts component and his involvement with MSU. Peter noted Liza Estlund Olson is setting that meeting. At 9:07 a.m. Commissioner Ellen Jeffries exited the meeting. D. PERSONNEL COMMITTEE REPORT: Committee Chair Cyril McGuire indicated that there is no report. E. LONG RANGE PLANNING COMMITTEE: Committee Chairman Charley Janssen indicated that he had no report. Peter noted the consultants tentatively plan to be in Lansing in mid- May. VII. COMMISSIONER AND STAFF COMMENTS: 1. Commissioner Charles Janssen: Commissioner Janssen noted he has been at the Market a number of times and it looks good and he noted the number of new vendors. He was impressed with the variety of vendors and noted more activity as well. He extended birthday wishes to Peter. LEPFA Board of Commissioners Meeting Page 8 April 23, 2002 2. Commissioner James Butler: Commissioner Butler questioned if there is a communication strategy for Common Ground with the newspaper and TV? Peter noted the newspaper will be afforded the information the evening before so that it can be included on their web page, which is exactly what we did last year. Linda noted in regard to TV, on the day that the announcement breaks on radio, the act will be reported at the noon, six and eleven TV reports, and they will receive the information in advance. 3. Bob Swanson: Bob noted when GM re-newed their sponsorship of Common Ground they asked us to move the event to coincide with their shutdown period in July and the irony is that thy will not shut down in July this year. VIII. OLD BUSINESS: No report. IX. NEW BUSINESS: No report. At 9:15 a.m. the meeting was adjourned. THE NEXT MONTHLY MEETING IS SCHEDULED FOR WEDNFSiDAY, MAY 29, 2002 AT 8:00 A.M. AT THE LANSING CENTER IN THE ROOM 201. Respectfully submitted, Heidi K. Brown, Recording Secretary LANSING ENTERTAINMENT AND PUBLIC FACILITIES AUTHORITY BOARD OF COMMISSIONERS MEETING MAY 29, 2002 MINUTES At 8:03 a.m. Chairman Kate McNenly called the meeting to order in the Room 201 of the Lansing Center; 333 E. Michigan Avenue; Lansing, Michigan 48933. COMMISSIONERS PRESENT:James W. Butler III, Wes Clark, Charles Janssen, Cyril McGuire, Kate McNenly, Sharon Peters, Charlotte Sinadinos, Bob Swanson (Ex-Officio). COMMISSIONERS EXCUSED:Tim Haggart, Ellen Jeffries,Dennis Sykes(Ex-Officio)and Ron Wilson (Ex-Officio). OTHERS PRESENT: Heidi Brown, Marian Bryant, Linda Frederickson, William Grove, Peter Sullivan, and Patrick Talty - Lansing Entertainment and Public Facilities Authority. James Smiertka — City of Lansing and Harold Leeman, Lansing City Council. III. ESTABLISHMENT OF THE AGENDA: There were no changes to the agenda. IV. PUBLIC COMMENT: There was no public comment. V. APPROVAL OF THE MINUTES OF APRIL 23, 2002: The minutes of April 23, 2002 were approved as published. VI. REPORTS: A. CHAIRMAN'S REPORT: Chairman McNenly reported that the Nominations Committee will meet and present a slate of officers at next month's meeting. B. SECRETARY/TREASURER'S REPORT: 1. Monthly Financials: Committee Chairman Sinadinos reviewed the following financial statements as approved by the Finance Committee for the period ending April 30, 2002: a. Lansing City Market— April 30, 2002: Under Operating Revenue - Building Rental for the current period is $4,981 compared to $3,975 for last year and for year to date the amount is $43,616 compared to $38,577 which is about $5,000 more than last year. Parking income is $12,019 compared to $5,627 and year to date the figure is $32,242 compared to $16,044 for last year for a difference of over $16,000. Total Operating Revenues for year to date are $76,418,383 compared to $55,159 for last year, which is $21,000 better than last year. Under Operating Expenses, Salaries and Wages are$37,672 compared to$37,291 for year to date last year. Utilities are up slightly for year to date at$29,312 compared to $24,254 for last year, which is up approximately $5,000 over last year. Year to date Marketing is $9,752 compared to $10,385 for the prior year. Total Operating Expenses for the current period are$9,103 compared to$7,380 and year to date Total Operating Expenses are $108,454 compared to $104,464. After adding the City Contribution and Interest the year to date figure is $36,539 compared to the prior year's loss of($24,497). LEPFA Board of Commissioners Meeting Page 2 May 29, 2002 At 8:10 a.m. Bob Swanson entered the meeting. The Balance Sheet-Accounts Receivables are$72,581, which is a loan to the Lansing Center. Unreserved Equity is $165,943 compared to the prior year's Unreserved Equity of$124,051. Under Budget versus Actual, Building Rental is better than budget for the current period by$1,166 and year to date it is also better than budget by$3,756. The parking variance is better than budget by $5,534 and year to date it is better than budget by $13,160. Total Operating Revenue for year to date is $76,418 compared to the budgeted amount of$59,642 for a variance of$16,776 better than budget. Operating Expenses - Salaries/Wages are $8,468 better than budget. The Marketing figure is $9,752 compared to the budgeted figure of$23,250 which is$13,497 better than budget, however, the figure will change soon due to marketing for the upcoming spring and summer season. Total Operating Expenses are $108,454 compared to the budgeted amount of$134,287 for a variance better than budget of $25,832. After adding Interest and the City Contribution we are better than budget by $39,187. b. Oldsmobile Park-April 30, 2002: Event Revenues are$7,829, which is comprised of MSU Baseball and the March of Dimes, and expenses for the events are$3,582 for an event income of$4,247, which was applied to the Event Development Fund. Under Operating Expenses, Salaries and Wages for year to date are$47,804, which exceeds the prior year's year to date amount of $45,357 for a difference of about $2,000, which was labor hired to prepare for the Lugnuts' season. Utilities are down for year to date at$45,915 compared to the prior year's amount of$47,958. Total Operating Expenses for the current period are $24,758, which is less than the prior year's amount of$38,641 and year to date the figure is $205,359 compared to $254,730. After adding the City Contribution and Interest, we have an income of $5,060 compared to the prior year's loss of($31,536). At 8:12 a.m. Sharon Peters entered the meeting. Our Total Cash position is$101,161 compared to the prior year's amount of$82,952. The Net Event Development Fund is $54,231 for the current year compared to the prior year's amount of$67,935. Unreserved Equity is$99,059 compared to$105,462 for last year. Under Budget versus Actual, Operating Expenses - Salaries/Wages are better than budget by almost $2,366, but for year to date we are less than budget by $3,550. Utilities are $531 over budget for the current period and the year to date figure is $2,055 over budget. Maintenance of Facilities is less than budget by$5,607, which is a timing issue. Total Operating Expenses for year to date are($205,359)compared to the budgeted amount of($246,647), which is better than budget by $41,287. After adding in the City Contribution and Interest, we are better than budget by $37,707 and after taking into account the depreciation, we are better than budget by $26,300. LEPFA Board of Commissioners Meeting Page 3 May 29, 2002 c . Lansing Center-April 30, 2002: Under Operating Revenues, Building Rental for the current period is$102,728, compared to $91,629, which is up for the current period by $11,000 and the year to date figure is $877,515 compared to $941,275, which is down by $63,000. The food and beverage figure for the current period is $292,781 compared to $175,733 for last year, which is an excess of $117,000 for just the current period and year to date the figure is $2,313,630 compared to $2,288,229 for last year. Equipment Rental for the month was$78,560 compared to the prior year's period at $31,347 and year to date the figure is $440,629 compared to $375,443, which is up $65,000. Tradeshow Utilities for year to date are $136,666, which is up compared to last year's amount of $130,803. Labor Service is up at $23,439 compared to $16,345 for last year and year to date the amount is $160,591, which is ahead of the prior year's year to date amount of $130,778 by $30,000 for Total Operating Revenues for the current period in the amount of$540,991 compared to the prior year's amount of $354,390. Year to date Total Operating Revenue is $4,041,384, which is $53,000 better than the prior year's amount of $3,988,414. Under Operating Expenses, Salaries and Wages for year to date are at $1,320,219 compared to $1,284,209 for the prior year. Utilities are up for the current period at $55,496 compared to $44,897 last year, and year to date the amount is $476,141 compared to last year's amount of $453,000. Food and Beverage expense for the current period is$139,156 compared to the prior year's amount of$142,186 and year to date the figure is $1,392,000 compared to the prior year's $1,318,000. Total Operating Expenses for the current period are $463,456 compared to $475,363 last year. Netting the Income versus the Expenses we have income for the current period of $77,535 compared to a loss of ($120,972) and we have a year to date loss of ($243,240) compared to the prior year's loss of($181,316). After adding in the City Contribution and Interest on bank accounts, we have a year to date income of $143,790 compared to an income of$179,531 for last year. At 8:16 a.m. Jim Smiertka entered the meeting. Total Cash and restricted assets are$409,347 compared to$572,675 for the prior year for a difference of$163,300 less than last year. Accounts Receivable are $530,499, compared to last year's amount of$404,595. Accounts Payable for the current year are$218,278 compared to the prior year's$122,531 (the current year figure includes a loan from the City Market of$72,000). Unearned Revenue/Advanced Rent for the current year is $296,888 compared to the prior year's $274,940. Unreserved Equity for the current year is $769,811 compared to the prior year's $849,467. Under Budget versus Actual, Building Rental for the current period is $102,728 compared to the budgeted amount of$113,694 which is less than budget by ($10,965) and year to date we are less than budget by ($47,187). Food and Beverage for the current period was better than budget by $65,279 and the year to date figure was less than budget by $2,036. Equipment Rental is better than budget for year to date by $39,161. LEPFA Board of Commissioners Meeting Page 4 May 29, 2002 Labor Service year to date is better than budget by $57,317. Total Operating Revenues for year to date are $4,041,000 compared to the budgeted amount of $3,945,000, which is better than budget by $95,442. Under Operating Expenses, Salaries/Wages for the current period are better than budget by $6,961 and are over budget by $18,968, which is attributed to the stagehands and is balanced out by the labor service line item under Operating Revenues. Utilities for year to date are more than budget by $5,981. Food and Beverage for the current period is better than budget$2,423 and year to date the figure is more than what was budgeted by$24,467. Total Operating Expenses for the current period are over budget by $8,526 and year to date the figure is more than budget by $25,966. After adding in the City Contribution and Interest, we are$55,254 better than budget and after backing out depreciation we are better than budget by $33,000. At 8:20 a.m. James Butler entered the meeting. Committee Chair Sinadinos moved that the monthly financials for Oldsmobile Park, the Lansing City Market and the Lansing Center for the period ending April 30, 2002 be received as published, and further that the monthly expenses for each entity be approved. Motion: Commissioner Butler Support: Commissioner McGuire, motion carried. C. PRESIDENT AND CEO'S REPORT: At 8:22 a.m. Councilmember Harold Leeman entered the meeting. 1. Union Report: Patrick Talty reported since the April Board meeting, they have met several times with the Union regarding various issues. The first meeting focused on an International sponsored health plan for the Union members. On May 20 contract proposals that included the health plan proposal were presented to the Maintenance and Facility Workers and the Forepeople. The Union indicated they would present counter proposals; however, they were unable to present counter proposal because only three members attended, thus they will take the last proposals for a ratification vote this evening. 2. Lansing City Market: Peter reported that the April Rental Revenue was up by approximately $230 compared to last year. Occupancy was 71%, which is up 4% over last year, and due to our recruitment efforts we expect Market occupancy to be up about 8-10% throughout the summer. In regard to Special Events, the Girl Scout Cookie booth returned on May 18 and 25, because of the great response they had in March. We again hosted the "Adopt a River" program in April and the "Neighborhoods in Bloom" program. We are also working with the Vendor's Association on "Be a Tourist In Your Own Town" on June 1 and we will give away hot dogs, and the Iris Society will also host their show during the event. 3. Oldsmobile Park: A number of events have taken place including MSU Baseball versus Central Michigan on April 24 with about 900 attendees; the event was billed as "Pack the Park." April 27 the "March of Dimes Walk America" took place and we hosted a high school baseball game, Plymouth vs. Salem; however, due to the weather they were only able to play three innings. May 10 and I we were scheduled to host four games of MSU versus OSU Baseball, but the Sunday games were rained out. LEPFA Board of Commissioners Meeting Page 5 May 29, 2002 The Diamond Classic quarterfinals took place on May 23, with 1,065 attending, and next week we will host the semi finals. Upcoming events include the Michigan Mile on June 1, June 5 and 6 the Diamond Classic, the Michigan Sheriffs All Stars versus the Detroit Lions will take place on June 8, and the Triple Crown baseball tournament will take place on June 9. 4. Lansing Center: Peter reported we hosted approximately 39 events, for 55 event days with approximately 27,000 attendees utilizing 3,300 room nights for an estimated economic impact of approximately $1,001,000. Compared to April 2001, we were down in event days by about 17, which is due to the event mix. Attendance was up by about 2,800 people, there were 800 more room nights and economic impact was up. Peter noted revenue was up slightly this year, however, food and beverage was up substantially due to the event mix. Sales Update: Linda Frederickson reported that there have been numerous meetings with the CVB and Wally Byam. The CVB is now challenged because the cost estimates from all entities within the City is nearly doubled the amount the Wally Byam group wants to charge the individual Airstream participants, and the CVB has taken the liberty of suggesting an all inclusive fee. Linda noted they want a letter of commitment from us, but we are now challenged. The rent we proposed at a 30% discount is $30,000 and is exclusive of any out of pocket expenses, while they want it to be all inclusive. Peter noted part of our issue is that the contract states that you have to agree to two musical events/concerts, which are included in the flat fee and they want a price quote without any knowledge of the acts and/or their requirements which is difficult; however, Patrick and Peter will put together an estimate, but the main issue is that they want these costs included in the flat fee. Peter noted we are desirous of having the event, but need to work out the additional cost issues. Commissioner Butler questioned what went wrong in light of the initial enthusiasm. He noted it is his understanding that prices were not discussed at that time, or had they not responded? Linda noted when they initially met there were no specifics until their meeting one month ago at which time they shared their more specific requirements, but they still did not know all the details. Peter noted we were not asked for a rent figure until a month ago when we received more complete information. He suggested there are very price sensitive issues that the CVB has been aware of for at least six weeks. Peter noted the Airstream participants like to charge a flat fee. Bob Swanson noted the cost is less for LEPFA compared to other entities such as the Board of Water and Light, the School District, the City, etc. He noted they indicated they have never charged more than $65 per Airstream and they were looking for a price between $75 and $85 and the CVB has reached a rate of $200. The CVB has made suggested revisions for all entities; however, not everyone has determined if they are able to do that. Commissioner Butler clarified that the regular Lansing Center rental rate would be $50,000 and we are offering $30,000 and noted he no longer was excited! LEPFA Board of Commissioners Meeting Page 6 May 29, 2002 Peter noted this a normal "dance" for meeting planners and building; however, this is more encompassing in terms of their needs and their event, which encompasses various other entities. Peter noted we are working with the CVB. Commissioner Butler noted he is excited about the event; however, in light of the budgetary constraints and from a business perspective, he noted he would have to justify how he would be able to do that within his organization particularly in light of the percentage discount already offered. Overall Commissioner Butler noted he was excited about the event and the incremental revenue. Peter noted we have been politely asking the Wally Byam folks for specifics regarding the musical acts and they want us to agree to a flat fee, and anything above the flat fee would be absorbed by our organization, which, again, we are not comfortable with. Confirmed/Repeat Business: Michigan Works Assisted Technology Conference is confirmed for July 30-31, 2002. The television game show "The Weakest Link" will be in on Tuesday, June 4 to conduct auditions. The Michigan Department of Education has been contracted for three retreats, one in June and two in August. A contract has been issued to Sohn Linen service for their holiday party in December for about 150 people. MSU re-booked for April 9 and 10 for the return of the MSU Teacher Fair. Michigan Trucking Association returned their contract for the MTA Safety Convention and Expo in 2003. Facility Highlights: MEA Spring Representative Assembly was held with about 950 attendees. April 29-30 Michigan Nonprofit Volunteer Superconference took place, this is a two-day conference with over 200 attendees and it included the Governor's Service Awards Dinner, which was attended by the Governor and Mrs. Engler. May 1 the Michigan Works Jobs Expo was held in Hall A and attended by about 1,500 folks. May 3- 5 the Show Biz Talent dance competition was in house with close to 2,000 dancers. May 4-5 the ACDL District Bridge Tournament was held in rooms 203-5 and came to us as a referral from another group. May 8-11 Michigan Dental hosted their annual conference and there was a lot of positive feedback, and we have received nice letters as well as the CVB, and they hope to return in 2006. This also was the largest event they have hosted in seven years, and Peter complimented the staff. Commissioner James Butler recommended that the Executive Staff be given"a night on the town" in response to the extremely positive feedback stemming from the Michigan Dental Conference. May 13-14 the Michigan Assisted Living Association attracted over 900 folks from the nursing home and adult foster care fields. May 17-18 we hosted the INCH Conference (Information Network for Christian Homes), this was their fifth year at the Center, which is the longest they have been at any facility, they utilize all meeting rooms and exhibit halls and attracted over 2,200 attendees. At 8:46 a.m. Harold Leeman exited the meeting. We also hosted five high school proms since the last Board meeting, which included East Lansing, Portland, Grand Ledge, Okemos, and DeWitt. Memorial Day weekend we hosted a prom on Friday and Saturday. LEPFA Board of Commissioners Meeting Page 7 May 29, 2002 Upcoming Events: June 1 "Be a Tourist in Your Own Town" is scheduled as well as Diamond Quest, Michigan Coalition for Responsible Gun Owners, and ICAR. June 3-7 Michigan Professional Firefighters are in house as well as the "Down by the River Chili Cookoff" on June 7; June 10-12 the Michigan State Housing Authority is in house;Destiny Team is in the building throughout the month; Michigan Catholic Home Educators are in house June 28, and the Oral Roberts Healing Seminar will be in house as well. 5. Common Ground: Peter noted most of the talent has been released to the media and we are now moving from the promotional to operational phase. The radio promotions are underway, television advertising begins this weekend and as June moves along there will be increased advertising in all mediums. Common Ground will be advertised with Pepsi, on the back of Dan Henry Distributing beer trucks, on Hungry Howie's pizza boxes, etc. In regard to talent, Smokey Robinson was announced last week as well as five or six country artists, and "The Calling" will be announced next week by Z101 who is a new sponsor. Additional contemporary youth acts will be announced this week. Sponsorship participation and revenue continue to move forward. We may have Fifth Third Bank involved this year in sponsoring the front gate, along with a number of others. Peter noted there will be a number of new activities highlighted at the "Partners Preview" on June 13, at 5:30 p.m., which will be invitation only and Board members will be invited. Linda noted this is a private preview for our media partners, sponsor partners and Volunteer Team Leaders. Representatives from General Motors and the Mayor will be there as well and it will be the unveiling of all of the new components for the third year. We are putting together a "Greatest Hits" CD comprised of some of the songs from our acts, and it will be presented in a Common Ground CD case. There will also be gifts delivered with the tickets and the gifts are based on a three-tier system and the level of sponsorship. Commissioner Sharon Peters requested a listing of the acts for the Board members. Linda will follow up. The foldouts will be available shortly. Commissioner James Butler questioned if the CD could be a money maker? Peter indicated that we are unable to sell it due to legal constraints. Commissioner Butler also questioned if it is possible to set up a "meet and greet" with the acts? Peter indicated he was not opposed to trying, but it is something that is scheduled the day of the event with the manager, and is always a sensitive issue. In the past we have tried and have been successful and have also been turned down. 6. Vendor Issue: Peter noted there are some sensitivities with a vendor at the Lansing City Market and that he and Linda have met with Jim Smiertka. The vendor will receive a letter that their lease will not be renewed as of July 1. Linda noted she has met with the vendor personally and he has had more than thirty infractions of the Market rules and regulations and it is felt that it is not in the best interest of the Market to renew at this time. Commissioner Butler questioned the type of infractions? Linda noted if Board members are interested, they have about 45 pages of notes and documentation, which are all instances of breaking the rules, i.e. being in the building without permission, not speaking to the Market Manager when addressed, etc. Peter noted we have reviewed the lease with the City Attorney, and are legally able to exercise the option not to renew their lease and are bringing it to the Board's attention so that if and when there is an issue, the Board is informed. Linda will give the letter to the vendor on Friday, which is a 30-day notice, which we are not obligated to do. Commissioner Butler questioned if any action is anticipated on the part of the vendor? Linda noted she would know LEPFA Board of Commissioners Meeting Page 8 May 29, 2002 once the information is delivered. Commissioner Butler asked Linda if she would have security with her? Peter noted someone will join Linda, and he commented further that Linda and Michael Meyers have spoken to the vendor more than once and the vendor has heard on more than one occasion that termination of lease was an option. The vendor has been cordial to Michael and Linda, but not to the Market Manager and it has created a negative scenario at the Market. Other vendors have complained as well. D. PERSONNEL COMMITTEE REPORT: Committee Chair Cyril McGuire indicated that there is no report. E. LONG RANGE PLANNING COMMITTEE: Committee Chairman Charley Janssen indicated that they met with A.G. Edwards and our partners, and outlined some of the possible scenarios for financing a possible expansion. The information was preliminary and a number of options were reviewed, as well as the revenue range of the various taxes/assessments. They are going to discuss the various workable scenarios in June. VII. COMMISSIONER AND STAFF COMMENTS: 1. Commissioner James Butler: Commissioner Butler commented on Heidi's expertise in noting arrivals and departures in the minutes. 2. Commissioner Charles Janssen: Commissioner Janssen commented on the recent Lansing State Journal article regarding the Lugnuts and questioned whether we should send a counter article? He noted the article indicated that the Lugnuts were doing fine, but the headline gave the sense that they are in big trouble or the City`s investment is in trouble. Janssen asked if a letter should be drafted and noted that he would be willing to sign a letter. Commissioner Butler reported that he discussed the article with the Mayor and that it did not state the good things that are happening in the downtown. Commissioner McGuire stated he felt the article discussed ticket sales and that he was unclear as to how that would be addressed in a letter/article and that there has to be a way to encourage more interest. Bob Swanson noted that decline happens everywhere because you start at the top and move down. He also noted that the important thing to note is that you can't argue with the attendance numbers, but both the City and Lugnuts based their proformas on 350,000 and we started at a much higher level. Peter noted the attendance had to be pulled out of the verbiage, and when you did find it, the Lugnuts attendance was only behind Grand Rapids, which is larger than Lansing, and Dayton, which is a much larger community, and they have had baseball for one or two years. Bob suggested it would be useful for the Board to draft correspondence that isn't a rebuttal, but outlines the various other uses of the stadium, i.e. college teams, high school teams, movies, etc. Peter noted they contacted him regarding economic impact, and he referred the to the CVB. The Lansing State Journal did not contact the CVB. Bob Swanson noted that the paper has done this type of article every year since 1995, and he is not concerned. Commissioner Janssen suggested that Bob or Peter discuss this issue with the City and noted that Commissioners can write their own letter or they could collectively respond and he indicated that he would be happy to write the letter. He noted he also felt the comments from the expert at MSU were negative. Peter suggested that the negative comment was pulled out specifically, and that he was not opposed to a collaborative letter, but cautioned the Board. Commissioner Butler noted he was thinking of other events that are coming up, i.e. Common Ground, and that we need to have a collaborative effort with the paper and they are a sponsor. LEPFA Board of Commissioners Meeting Page 9 May 29, 2002 Commissioner Peters recommended that if we do something, that we be strong about the use of the stadium and its contribution to the community and that the communication come from our Board, signed by the Chair. She noted further that she felt it should only happen after receiving input from the Mayor, .and that we should proceed if it was felt that we could do some good; however, she was fearful of everyone doing individual letters, and if we did one that it be a collective piece with a positive slant that did not reference the article and that it be a supportive statement. Commissioner Peters noted she would defer if in further discussion people did not feel that it should be done at all, but agreed that it would be useful to do as a whole. She asked that it be looked into and if deemed appropriate she asked that the Chair proceed. Commissioner Peters noted she would be out of state and unable to attend the June meeting. 3. Marian Bryant: Marian noted that she has a position open in her department for an accountant, which is an entry level position that is responsible for accounts receivable and payable. She asked that information regarding potential candidates be forwarded to her. VIII. OLD BUSINESS: No report. IX. NEW BUSINESS: No report. At 9:20 a.m. the meeting was adjourned. THE NEXT MONTHLY MEETING IS SCHEDULED FOR Tuesday, June 25, 2002 AT 8:00 A.M. AT THE LANSING CENTER IN THE ROOM 202. Respectfully submitted, Heidi K. Brown, Recording Secretary LANSING ENTERTAINMENT AND PUBLIC FACILITIES AUTHORITY BOARD OF COMMISSIONERS MEETING JUNE 25, 2002 MINUTES At 8:05 a.m. Chairman Kate McNenly called the meeting to order in the Room 202 of the Lansing Center; 333 E. Michigan Avenue; Lansing, Michigan 48933. COMMISSIONERS PRESENT: James W. Butler III, Wes Clark, Charles Janssen, Ellen Jeffries, Cyril McGuire, Kate McNenly, and Charlotte Sinadinos, COMMISSIONERS EXCUSED: Tim Haggart, Sharon Peters, Bob Swanson (Ex-Officio) and Dennis Sykes (Ex-Officio). OTHERS PRESENT: Heidi Brown, Marian Bryant, Linda Frederickson, William Grove,Peter Sullivan, and Patrick Talty - Lansing Entertainment and Public Facilities Authority. James Smiertka - City of Lansing. Dirk Spillemaeckers - ERI. III. ESTABLISHMENT OF THE AGENDA: There were no changes to the agenda. IV. PUBLIC COMMENT: Mr. Dirk Spillemaeckers introduced himself as an employee of the Authority. V. APPROVAL OF THE MINUTES OF MAY 29, 2002: The minutes of May 29, 2002 were approved as published. VI. REPORTS: A. CHAIRMAN'S REPORT: 1. Common Ground: Chairman McNenly reported that we are two weeks out from Common Ground and that she attended the "Premiere Party" for the Common Ground sponsors and noted that it was extremely well attended, the food was "to die for," the deserts were fabulous and the CD and carrier were noted as well. 2. Thank You: Chairman McNenly thanked the staff for making the Chairman's job so easy because they do their job so well. She also thanked the Commissioners for never telling her no, always volunteering to do more, for always saying "no problem," for being clear thinkers, for asking tough questions, for never losing their sense of humor, and for making chairing the Board a pleasure. 3. August Meeting Changes: Chairman McNenly noted the August meeting is scheduled the same week as Labor Day, as such she recommended moving the meeting from August 27 to August 20. There were no objections to the change. Chair McNenly also noted there are no meetings in July. B. SECRETARY/TREASURER'S REPORT: 1. Monthly Financials: Committee Chairman Sinadinos reviewed the following financial statements as approved by the Finance Committee for the period ending May 31, 2002: LEPFA Board of Commissioners Meeting Page 2 June 25, 2002 a. Lansing City Market-May 31 2002: Under Operating Revenue-Building Rental for the current period is $5,954 which is ahead of last year's amount of$5,150 and for year to date the amount is$49,571 compared to$43,728 which is up by about$5,800. Total Operating Revenues for year to date are $82,408 compared to $60,344 for last year, which is $22,000 better than last year and is comprised of a rent increase and parking. Under Operating Expenses, Salaries and Wages are similar for the current period and for year to date. Utilities are up slightly for year to date at $31,880 compared to $26,426 for last year. Year to date Marketing is$14,467 compared to$13,029 for the prior year. Total Operating Expenses for the current period are $14,233 compared to $12,975 and year to date Total Operating Expenses are $122,687 compared to $117,440 last year. The Operating Loss for year to date is ($40,279) compared to ($57,095) for the prior year. After adding the City Contribution and Interest for year to date we have an income figure of $34,132 compared to the prior year's loss of ($26,020). The Balance Sheet-The cash position is$51,705 compared to$127,567 for last year. Accounts Receivables are $72,903 (which is due to a loan to the Lansing Center) compared to $1,839 last year. Unreserved Equity is $163,537 compared to the prior year's amount of$122,528. Under Budget versus Actual, Total Operating Revenues for the current period are $5,989 compared to the budgeted amount of$4,911, which is better than budget by $1,078 and year to date the amount is $82,408 versus the budgeted amount of $64,553. Year to date we are better than budget by $17,855. Operating Expenses- Utilities are more than budget by$3,467. Marketing is ahead of budget by $10,907 for year to date. Total Operating Expenses for year to date are $122,687 compared to the budgeted amount of$148,469 for a variance better than budget of$43,636. After adding Interest and the City Contribution we are better than budget by $39,826. b. Oldsmobile Park-May 31 2002: Event Revenues are$11,512, which is comprised of MSU Baseball and the Diamond Classic. Expenses for the events are $6,343 for an event income of$5,168, which was applied to the Event Development Fund. Under Operating Expenses, Salaries and Wages for year to date are$52,612,compared to the prior year's amount of $51,144. Utilities are down for year to date at $50,453 compared to the prior year's amount of $52,409. Marketing is down at $11,281 compared to the prior years$15,781. Total Operating Expenses for the current period are $16,384 compared to $17,085 for last year. Total Operating Expenses for year to date are $221,744, which is less than the prior year's amount of$271,815, which is attributed to the suite work. After adding the City Contribution, the Operating Transfer and Interest, we have a year to date income of$8,552 compared to the prior year's loss of($28,762). Our Total Cash assets are $92,982 compared to the prior year's $76,450. The Net Event Development Fund is at $59,400 for the current year compared to the prior year's amount of$77,953. Unreserved Equity is$107,720 compared to$118,254 for last year. LEPFA Board of Commissioners Meeting Page 3 June 25, 2002 Under Budget versus Actual-Salaries/Wages are$52,612 compared to the budgeted amount of$56,921, which is better than budget by $4,308. Utilities for year to date are$50,453 compared to$47,924, which is($2,529)over budget. Marketing for year to date is ahead of budget by $3,218, as are Maintenance of Facilities and Maintenance of Equipment. Total Operating Expenses for year to date are $221,744 compared to the budgeted amount of $267,614, which is better than budget by $45,869. After adding in the City Contribution, the Interest, and the City Transfer, we are better than budget by $41,766. c . Lansing Center- May 31, 2002: Under Operating Revenues, Building Rental for the current period is $102,285, compared to $113,372, which is down for the current period by $11,000 and the year to date figure is $979,801 compared to $1,054,648, which is down by $75,000. The Food and Beverage figure for the current period is $181,659 compared to $343,407 for last year. Chair Sinadinos noted there is a large event that normally occurs in May, but will take place in June this year, which explains the difference. Year to date the figure is$2,495,290 compared to$2,631,636 for last year for a difference of $136,000. Tradeshow Utilities are doing well, Equipment Rental is at $495,021 compared to $441,649 for year to date and Tradeshow Utilities are $145,141, which is up compared to last year's amount of $136,548. Labor Service for year to date is $171,452, which is ahead of the prior year's amount of $143,373. Total Operating Revenues for the current period are $368,854 compared to the prior year's amount of $546,988. Year to date Total Operating Revenue is $4,410,238, compared to the prior year's amount of $4,535,403 for a difference of $125,000. Under Operating Expenses, Salaries and Wages for year to date are at $1,481,956, which exceeds the amount of$1,458,699 for the prior year. Utilities for year to date are $535,669 compared to last year's amount of $509,916. Food and Beverage expense for year to date is $1,531,533 compared to the prior year's $1,492,000. Total Operating Expenses for the current period are$458,410 compared to$532,135 last year. The loss for the current period is ($89,556) compared to an income of$14,852 for last year and for year to date we have a loss of ($332,797) compared to ($166,463). After adding in the City Contribution and Interest we have a year to date income of$90,301 compared to an income of$236,087 for last year. Total Cash and restricted assets are$400,626 compared to$628,444 for the prior year (the figure includes the loan to the Lansing Center). Unearned Revenue/Advanced Rent for the current year is $279,344 compared to the prior year's $250,699. Unreserved Equity for the current year is $716,322 compared to the prior year's amount of$906,023. Under Budget versus Actual, Building Rental had a variance of$22,957 for the current period and for year to date the variance is less than budget by$70,144. The Food and Beverage variance for the current period was less than budget by ($117,835) and the year to date figure was less than budget by ($119,871). Equipment Rental is better than budget for year to date by $45,484. LEPFA Board of Commissioners Meeting Page 4 June 25, 2002 Tradeshow Utilities are ahead of budget by$15,141 for year to date. Labor Service is better than budget by $55,952 for year to date. Total Operating Revenues had a variance for the current period of$140,320 less than what was budgeted and for year to date the variance is less than what was budgeted by $44,878. Under Operating Expenses, Utilities were more than what was budgeted by($18,493). Food and Beverage for year to date was less than budget by$17,291. Total Operating Expenses for the current period were $44,138 better than budget and for year to date we were better than budget by $18,172. After adding in the City Contribution and Interest, we are ($42,316)more than budget and after backing out depreciation we are $66,585 more than budget. At 8:22 a.m. Charles Janssen entered the meeting. Committee Chair Sinadinos moved that the monthly financials for Oldsmobile Park, the Lansing City Market and the Lansing Center for the period ending May 31, 2002 be received as published, and further that the monthly expenses for each entity be approved. Motion: Commissioner Janssen Support: Commissioner Clark, motion carried. 2. Allowance for Bad Debts: Committee Chairman Sinadinos reported that the Committee reviewed and approved the annual allowance for bad debts at their June meeting for this fiscal year in the amount of$1,684. They also approved accounts totaling $1,041 to be set up for allowance for bad debts for the next fiscal year. 3. Resolution: Chairman Sinadinos also noted the Committee approved and recommended the Board's approval of a resolution to approve National City Bank as a Trustee for the LEPFA Savings and Thrift Plan accounts. Marian Bryant reported that when we moved our accounts to Community First Bank from First of America (now National City), they had an in-house Trust Department (the bank serves as the trustee of the account), Community First did not but they had a stand alone administrator who was not willing to serve as trustees of the account and so Marian and Peter served in that capacity. The accounts have now been moved back to National City, who does have an in- house Trust Department and they are willing to serve as trustee of the accounts. We are therefore are asking to name them in that capacity. Marian noted it will not change the day-to- day administration of the accounts, but it does help to have someone else named as trustee. MOTION: Commissioner Janssen SECOND: Commissioner McGuire, motion carried. C. PRESIDENT AND CEO'S REPORT: 1. Union Report: Patrick Talty reported since the May Board meeting that we have been notified that the Facility Workers, Maintenance, and Forepeople failed to ratify the last proposal presented. June 10 they were supposed to meet regarding counter proposals, and to-date we have had no response. We have been notified by MERC that the Maintenance and Facility Workers have filed to de-certify and to have another Union represent them. MERC will hold an election this Thursday, and we will await the results of the election and will begin bargaining with the new Union. LEPFA Board of Commissioners Meeting Page 5 June 25, 2002 Patrick noted they have also met with the LEPFA Personnel Committee to update them on the history of the negotiation process. 2. Lansing City Market: Peter reported that the May Rental Revenue was up by approximately $1,000 compared to last year. Occupancy was 83%, which was up 16% over last year. Special Events include the annual "Be a Tourist in Your Own Town" event on June 1, and all the space in the Market was utilized during this event. Some vendors even set up in the parking lots, and as in the past, we served hot dogs. A number of long time vendors reported good sales during the event. The Tri County Iris Show was held at the Market and they were pleased with the show. In regard to Market beautification, we have been painting inside and outside for the summer season and hope to have 25 vendor spaces painted by August as well as the north and south court. Denise Wootton has been selected as the LEPFA Board Representative. Denise and her husband Jim have been at the Market for six years, she has previously served on the LEPFA Board and is currently the Secretary for the Vendors' Association. Peter also thanked Wes Clark for his support and efforts during the past year as the City Market Representative. 3. Oldsmobile Park: June 1 the "Michigan Mile" took place as well as the semis and finals of the Diamond Classic baseball tournament, with Grand Ledge winning the tournament. The Michigan Sheriffs All Stars versus the Detroit Lions took place on June 8, and the Triple Crown baseball tournament took place on June 9 with all ages participating. The Baseball Factory Player Showcase is a new event and is a group that travels across the country, and they videotape and show case the kids to scouts to help them with college placement. They claim to have 4,000 success stories with placing the kids in colleges and the pros. Patrick noted they loved our facility and hope to make it and our facility and Michigan a yearly stop. Last week we also hosted the Mid-West League All Star Game, and an attendance record was set. Upcoming events at the stadium include "Lansing Symphony Concert and Fireworks" on July 4, and Peter noted the Marketing Department has done a good job advertising. Peter noted the Lansing Symphony Big Band will play the first six or seven tunes and we hope for good weather. Holywahooza is scheduled for August; however, and it has been frustrating in terms of solidifying talent and if we do not solidify talent soon, the event may not take place this year and we will keep the Board updated. 4. Lansing Center: Peter reported during May we hosted approximately 49 events, for 69 event days with approximately 20,000 attendees utilizing 3,000 room nights for an estimated economic impact of approximately $770,000. Compared to May 2001, we were down in event days; however, we were up in attendance, room nights and economic impact due to the mix of events. Sales Update: Peter reported a meeting took place with the City on a Wally Byam response Peter noted the City will have dialog with a number of State agencies/organizations with the hopes of getting the State to step up to the plate and afford the City some additional dollars (i.e. the Tourism Department) for the 2004 event. LEPFA Board of Commissioners Meeting Page 6 June 25, 2002 Confirmed/Repeat Business: The Sales Department conducted a tour with the Michigan Department of Transportation in early June to bring the Great Lakes Aviation Conference to the Lansing Center from the Kellogg Center. The Great Lakes Cancer Nursing Conference will be held here in October 2003; the Michigan Democratic Party State Convention will be held at the Lansing Center on August 23-25, which will include a breakfast for about 1,500 people, and the Mayor will host a luncheon for 2,200 in the gazebo. Facility Highlights: June 1 the Michigan Coalition for Responsible Gun Owners was a first time event for the Lansing Center in Hall C and they have reserved space for 2003. June 1 "Be a Tourist in Your Own Town" was hosted at the Lansing Center utilizing the gazebo. June 4 we hosted "The Weakest Link" auditions in the meeting rooms with about 150 people attending; June 7 we hosted the "Chili Cook off" sponsored by the Board of Water and Light on the Riverfront/Gazebo area and the attendance doubled last year's and a number of vendors ran out of chili at 7:15 p.m. (there were 23 vendors participating)and the event ended at 9:00 p.m. We are looking at how to make it bigger and better for next year. June 10-12 the "Michigan Conference on Affordable Housing" attracted 900 people and they have booked for 2003; June 15 "Destiny's Team," hosted 4,500 people in all three exhibit halls and they will return on July 13 during Common Ground. Saturday, July 13 will be a very busy weekend, in addition to Earth, Wind and Fire at Common Ground there is a Lugnuts home game and Destiny's Team will be at the Lansing Center. Michigan Catholic Home Educators will be in Hall C for exhibits and meals. Other events in June include 5 weddings and 4 social events. At 8:46 a.m. James Butler entered the meeting. 5. Common Ground: Peter reported we are very much in the operational phase of the event and are continuing our advertising and marketing push as well as our PR push. Peter and Kevin met with Mike Hughes from the Lansing State Journal for an hour and the information will be published in the Sunday, July 7 Lansing State Journal, in addition to an insert. We hosted a sponsor party on June 1 and handed out sponsor gifts. June 26 we will be hosting a Volunteer Party to hand out information, shirts, etc. and this is typically a well attended fun event. Peter noted we remain cautiously optimistic and hope for good weather. 6. Chairman's Thank You: Peter thanked Chairman Kate McNenly for her stewardship over the last year as Chairman and expressed his appreciation for all of the meetings held, especially during such tough times, i.e. September 11, organization financial challenges, etc. He thanked her for her patience and time over the last year and presented her with farewell gifts. Kate extended her thanks. D. PERSONNEL COMMITTEE REPORT: Committee Chair Cyril McGuire indicated that the Personnel Committee met on June 4 to review the changes to LEPFA's healthcare plan and the circumstances regarding the collective bargaining process. Committee Chairman McGuire reviewed the healthcare changes noting the changes were recommended after receiving a 39.5% increase in our cost for coverage from PHP, creative ways to control costs and maintain the existing levels of benefits for employees were reviewed. A plan with Blue Cross/Blue Shield was instituted with changes in the following areas: LEPFA Board of Commissioners Meeting Page 7 June 25, 2002 Prescription co-pays, employee contributions, the "Opt Out Program" and a change in the deductible. The LEPFA Personnel Committee unanimously approved and recommended to the LEPFA Board of Commissioners that the medical reimbursement plan be amended to provide reimbursement for medical costs incurred by the employee, their spouse, and dependents provided that such reimbursements shall not exceed $500 per year. Motion was made to approve the changes as presented. MOTION: Commissioner McNenly SUPPORT: Commissioner Butler The motion was unanimously passed. E. LONG RANGE PLANNING COMMITTEE: Committee Chairman Charles Janssen indicated that there is no report at this time. The consultants continue to work on the report and it is hoped that there will be an update in August. F. NOMINATING COMMITTEE: Committee Chairman Charles Janssen noted they contacted all Board members who have not served as an officer, specifically Tim Haggart and Sharon Peters who declined the opportunity to serve as an officer(the Market Representative is unable to serve due to the cycle of their one year term). The Nominating Committee recommended the following board members to serve as officers as follows: Cyril McGuire - Chairman James Butler - Vice Chairman Charlotte Sinadinos - Treasurer No changes to the slate of officers were recommended. Chairman Janssen moved that the nominations be closed, SECOND: Commissioner McNenly, the slate of officers was approved as submitted. Chairman McNenly thanked and congratulated the new officers. Committee Chair Janssen thanked all the Board members for their cooperation and willingness to serve, specifically the officers. VII. COMMISSIONER AND STAFF COMMENTS: 1. Commissioner Charlotte Sinadinos: Commissioner Sinadinos thanked Kate McNenly for a wonderful job as Chair. 2. Commissioner James Butler: Commissioner Butler extended his thanks to Kate McNenly and his extended his well wishes for Common Ground. 3. Commissioner Charles Janssen: Commissioner Janssen thanked Kate. He also noted he did his unannounced walk around of the facilities and everything looks in very good shape and it is very noticeable; and the landscaping looks great as well. He commended Patrick on a good job. LEPFA Board of Commissioners Meeting Page 8 June 25, 2002 4. Commissioner Ellen Jeffries: Commissioner Jeffries thanked Kate and Wes Clark for their service during the past year. Commissioner Jeffries also noted that she attended the Partners Preview Party and thought it was well done and the CD was great. She also congratulated Cyril, James and Charlie on their appointments. 5. Commissioner Cyril McGuire: Commissioner McGuire noted that Kate is a very special person and indicated that he has enjoyed the year and offered to have her take back the year. 6. Marian Bryant: Marian noted that she currently has two accounting positions vacant; both are entry-level positions, one in Food and Beverage and one in the Finance Office and noted she is willing to review resumes. She also noted she is in need of volunteers in the Finance areas of Common Ground. VIII. OLD BUSINESS: No report. IX. NEW BUSINESS: No report. At 9:10 a.m. the meeting was adjourned. THERE ARE NO MEETINGS IN JULY. THE NEXT MONTHLY MEETING IS SCHEDULED FOR Tuesday, AUGUST 20, 2002 AT 8:00 A.M. AT THE LANSING CENTER IN THE GOVERNOR'S ROOM. Respectfully submitted, Heidi K. Brown, Recording Secretary LANSING ENTERTAINMENT AND PUBLIC FACILITIES AUTHORITY BOARD OF COMMISSIONERS MEETING AUGUST 20, 2002 MINUTES At 8:04 a.m. Chairman Cyril McGuire called the meeting to order in the Governor's Room of the Lansing Center; 333 E. Michigan Avenue; Lansing, Michigan 48933. COMMISSIONERS PRESENT:James W. Butler III,Tim Haggart, Charles Janssen, Ellen Jeffries, Cyril McGuire, Kate McNenly, Charlotte Sinadinos, Bob Swanson (Ex-Officio) and Denise Wootton. COMMISSIONERS EXCUSED: Sharon Peters, and Dennis Sykes (Ex-Officio). OTHERS PRESENT: Heidi Brown, Marian Bryant, Linda Frederickson, William Grove, Peter Sullivan, and Patrick Talty - Lansing Entertainment and Public Facilities Authority. Kevin Meyer - Meridian Entertainment and John McPherson - LEPFA Employee/ILCEEA Union Representative. III. ESTABLISHMENT OF THE AGENDA: There were no changes to the agenda. IV. PUBLIC COMMENT: John McPherson introduced himself to the Board, noting that he works for LEPFA as a Maintenance Person and he is also the President of the newly established Union, the Independent Lansing Center Entertainment Employees Association. V. APPROVAL OF THE MINUTES OF JUNE 25, 2002: The minutes of June 25, 2002 were approved as published. Motion: Commissioner Haggart Second: Commissioner Butler and were unanimously approved. VI. REPORTS: A. CHAIRMAN'S REPORT: No report. B. SECRETARY/TREASURER'S REPORT: 1. Monthly Financials: Committee Chairman Sinadinos reviewed the following draft financial statements as approved by the Finance Committee for the period ending June 30, 2002: a. Lansing City Market-June 30, 2002: Under Operating Revenue-Building Rental for the current period is$10,462, which is ahead of last year's amount of$8,732 and for year to date the amount is$60,033 compared to$52,460 which is up by about$7,500. Parking is at$39,321 compared to$24,119 for year to date last year. Total Operating Revenues for year to date are $99,984 compared to $77,151. Under Operating Expenses, Utilities exceeded last year at $34,802 compared to $28,988 for year to date, which is up about $5,800. Marketing Expense for year to date is$17,163 compared to$14,216 last year. Year to date Total Operating Expenses are$139,172 compared to$133,626 for last year. The Operating Loss for year to date is ($39,187) compared to ($56,475) for the prior year. After adding the City Contribution and Interest for year to date we have an income figure of $28,938 compared to the prior year's loss of($19,144). LEPFA Board of Commissioners Meeting Page 2 August 20, 2002 The Balance Sheet-Accounts Receivables are$96,9865 (which includes a loan to the Lansing Center) compared to $12,658 last year. Unreserved Equity is $158,342 compared to the prior year's amount of$129,404. Under Budget versus Actual, Building Rental for year to date is $60,033, which is over the budgeted amount of$50,750 for a variance of$9,283. Parking is $39,321 compared to the budgeted amount of$26,200,which is better than budget by$13,121. Total Operating Revenues for year to date are$99,984 versus the budgeted amount of $77,770. Year to date we are better than budget by $22,214. Operating Expenses- Utilities are more than budget by($3,802). Marketing is ahead of budget by$10,836 for year to date. Total Operating Expenses for year to date are $139,172 compared to the budgeted amount of$164,917 for a variance better than budget of$25,744. After netting revenues against expenses we are better than budget by $47,959 and after adding Interest and the City Contribution we are better than budget by $44,638 for year to date. b. Oldsmobile Park-June 30, 2002: Event Revenues are$24,502 which is comprised of the Michigan Mile, Triple Crown and the Baseball Factory. Chair Sinadinos noted in comparison to last year Holywahooza and the Symphony are not listed this year. Expenses for the events are$6,929 for an event income of$17,572, which was applied to the Event Development Fund. Under Operating Expenses, Utilities are $55,173 compared to$56,833 for year to date. Total Operating Expenses for year to date are $242,037, which is less than the prior year's amount of$321,934 for a year to date Operating Loss of($241,888) compared to the prior year's loss of($321,934). After adding the City Contribution, the Operating Transfer and Interest, we have a year to date income of$8,132 compared to the prior year's loss of($29,296). Our Total Cash position is down $39,291 compared to the prior year's$57,960. The Net Event Development Fund is very similar to last year at $76,972 compared to $77,883 for the prior year. Unreserved Equity is$124,872 compared to$114,651 for last year. Under Budget versus Actual - Utilities for year to date are more than what was budgeted at$55,173 compared to the budgeted amount of$52,000, which is($3,173) over budget. Total Operating Expenses for year to date are$242,037 compared to the budgeted amount of$288,574, which is better than budget by$46,536. After adding in the City Contribution, the Interest, and the City Transfer, we are better than budget by $41,906. After taking into account depreciation we are better than budget by $28,276. c . Lansing Center-June 30, 2002: Chair Sinadinos noted June was a record month due in part to the movement of MSHDA from May to June. Under Operating Revenues, Building Rental for the current period is$68,130, exceeding the prior period's amount of$35,527 and the year to date figure is $1,047,932 compared to $1,090,175. The Food and Beverage figure for the current period is $290,001 compared to $142,225 for last year and for year to date the figure is$2,785,291 compared to$2,773,962 for last year. Equipment rental is up for the year to date as well as tradeshow utilities and labor service compared to the prior year. LEPFA Board of Commissioners Meeting Page 3 August 20, 2002 Total Operating Revenue for the current period is $476,131 compared to the prior year's amount of $231,178. Year to date Total Operating Revenue is $4,886,369, compared to the prior year's amount of $4,766,581 for a difference of $120,000, Under Operating Expenses, Utilities for year to date are $592,677 compared to last year's amount of $554,795. Marketing is down slightly at $46,349 compared to $58,049. Food and Beverage expense for the current period is$187,887 compared to $142,562 and year to date is $1,791,421 compared to the prior year's $1,634,814. Total Operating Expenses for the current period are$635,519 compared to$552,681 last year and for year to date the figure is $5,378,555 compared to $5,254,548 for a loss year to date of($492,185)compared to the prior year's loss of($487,966). After adding in the City Contribution and Interest we have a year to date loss of($164,391) compared to the prior year's loss of($43,915) for last year. Total Cash and restricted assets are $399,624 compared to $512,861 for the prior year. Accounts Receivables are up. Unearned Revenue/Advanced Rent for the current year is $294,797 compared to the prior year's $264,186. Unreserved Equity for the current year is $461,629 compared to the prior year's amount of$626,020. Under Budget versus Actual, Building Rental for year to date was at $1,047,932 compared to the,budgeted amount of $1,076,000, which is less than budget by ($28,067). Food and Beverage was at$2,785,291 compared to the budgeted amount of $2,750,663, which was better than what was budgeted by$34,628. Equipment Rental was better than budget for year to date by$83,920. Labor and Service was better than what was budgeted by$66,109. For the current period our Total Operating Revenues are $476,131 compared to the budgeted amount of$241,546. Which leaves us better than budget for Operating Revenues at$234,585. For year to date the actual operating expenses are$4,886,369 compared to the budgeted amount of$4,696,663 for variance better than budget of$189,706. Under Operating Expenses, Utilities for year to date were $592,677 which was $28,477 more than what was budgeted. Food and Beverage for year to date was $1,719,000 compared to the budgeted amount of $1,685,989, which is more than budget, by $33,432. Total Operating Expenses for year to date are $5,378,000 compared to the budgeted amount of$5,301,000 for expenses and were greater than budget by ($76,727) for a variance better than budget for year to date of$112,979. After adding in the City Contribution and Interest, we are$96,608 better than budget and after backing out depreciation we are $70,683 more than budget. Commissioner Butler questioned why the significant increase in utilities? Peter attributed the increase to an increase in event activity, specifically MSHDA, which lead to increased utility use, which is consistent with the rental revenue. He also questioned why Marketing was less than last year? Linda noted when working on the budget we cut the institutional market and concentrated on the local associations and regional business that we could secure by increasing our networking and attending state-wide association meetings. Peter noted we also cut back on travel. Commissioner Butler also commented that Maintenance of Facilities, and Supplies and Materials were also down also and asked if that also was do to consciously cutting back, and Peter noted it was due to cut backs. LEPFA Board of Commissioners Meeting Page 4 August 20, 2002 Committee Chair Sinadinos moved that the monthly financials for Oldsmobile Park, the Lansing City Market and the Lansing Center for the period ending June 30, 2002 be received as published, and further that the monthly expenses for each entity be approved. Motion: Commissioner Sinadinos Support: Commissioner Janssen, motion carried. C. PRESIDENT AND CEO'S REPORT: 1. Union Report: Patrick Talty reported since the June Board meeting the Facility Workers and Maintenance Workers filed to de-certify from the IATSE union, held an election, and those who chose to vote, voted to be represented by the new Union, which is called the Independent Lansing Center Employees Association. They have informed us of their officers and we have received proposals from them in regard to contract negotiations for the Maintenance Workers and Facility Workers. The Forepeople have not responded and have failed to ratify their last contract proposal, and we hope to meet with them in the very near future; they are the same group that opted to stay under our health plan as opposed to the Union's plan. Patrick explained the ratifying process for the Forepeople. Commissioner Butler asked if we had any exposure because the process has been ongoing for a lengthy time. Patrick noted we have offered good packages that have not been ratified. 2. Lansing City Market: Peter reported that the June Rental Revenue was up by approximately $700 compared to last year. Occupancy was 90-95%, which was up 11% over last year. New vendors include the Keweenaw Pasty Shop and the response has been good. Special Events included an Iris Sale on July 27, and they were sold out at about 2:00 p.m., and the vendors were happy with sales on that day as well. The Market will also host the third annual Orchid Sale on October 18 and 19. In regard to Market beautification, we have been painting inside and outside for the summer season and hope to have 30 vendor spaces painted by September as well as the north courtyard fence. Peter noted for the last 5-6 months the Market has been doing very well financially. 3. Oldsmobile Park: We have held a number of events at the stadium including "Lansing Symphony Concert and Fireworks" on July 4, with approximately 5,000 people attending and there were no operational concerns. There was a "Big Band" component this year directed by John Dale Smith from Lansing Community College. Peter noted financially it is getting harder to present this event and turn a profit, however, we will continue to host the event. We did raise close to $20,000 in sponsorship and Peter noted it is a great annual community event that we will attempt to obtain additional sponsorships. We will also meet with the Symphony this fall to discuss their charges. Additional events include the "Park After Dark" movie series, and this past weekend we showed "The Sum of All Fears" with close to 300 attendees and the "The Lord of the Rings" was also shown with approximately 400 attending. Upcoming events include additional movies over Labor Day Weekend and the movies will include "Scooby Doo" on Friday, Saturday "Harry Potter" and September 1 "Scorpion King." On August 24 we will host our annual Christian Concert, "Holywahooza" and it is the fifth year for this event. LEPFA Board of Commissioners Meeting Page 5 August 20, 2002 Entertainment includes Jennifer Knapp, Switchfoot, and FFH, and will be geared toward youth. A new sponsor this year is Trinity Church and will also include Granger and CMBA. Peter noted the Marketing Department has raised over $20,0000 for this event, and similar to the July 4 Symphony event, we will be reviewing it in the fall. In regard to Fiesta, we continue to work on the event, and are working with local folks from Ramones. We are looking to include a Tejano group, a local DJ, and Tejano Sound at the Lansing Center on September 21 and we will continue to consider the finances with our potential sponsors/partners. Peter noted we received a draft audit on the food and beverage operation at Oldsmobile Park. Last year was the first year that the food and beverage operation was brought in house and they had some sensitivities which are discussed in the audit report, i.e. there were discrepancies in the revenues, which affects the City's receipts. Peter noted he felt they did a good job overall, but the Lugnuts started out at the low end of the learning curve. Peter noted a copy has been forwarded to the City and we are in the process of meeting with the City and the Lugnuts to discuss our sensitivities and the draft report regarding the concessions operation. Peter indicated he would keep the Board abreast of our meeting/discussion with the Lugnuts on this topic. Commissioner Butler asked if there is a time line? Peter noted we hope to meet with the City within the next week or two, and then with the Lugnuts post haste. The Lugnuts have made the playoffs and the first game is Tuesday, September 3. 4. Lansing Center: Peter reported during June we hosted approximately 55 events, for 73 event days with approximately 17,000 attendees utilizing 2,400 room nights for an estimated economic impact of approximately $760,000, as was noted in the financials; we had a great June due to MSHDA moving from May to June and will probably never have another June financially like this June, which was phenomenal. Sales Update: Peter updated the Board on Wally Byam noting it is going to take place in 2004 and there was supposed to be a ceremonial signing yesterday at the Radisson. Linda and Patrick attended a meeting last week at the CVB and we are still working on details. It appears that the CVB is looking to have all the entities sign a separate contract with Wally Byam. Linda noted the CVB is asking all the participants to sign a document as a "Host Committee" with the CVB. Tom Galyon is sending the final contract to his attorney and the contract will have addendums for each entity with specific language regarding what they are providing within the contract. Patrick noted there is also an issue with the land because Lansing Catholic Central has pulled out and as such the City is considering alternative land. Commissioner Butler questioned why Lansing Catholic Central pulled out? Linda noted it was due to a change in the administration, and they were not comfortable with using the athletic fields. Peter noted he will continue to update the Board. LEPFA Board of Commissioners Meeting Page 6 August 20, 2002 Facility Highlights: June 28 the Oral Roberts Healing Rally was in house and this was the first event for them at the Lansing Center with 1,000 attendees. July 12 Destiny's Team was in house with 4,500 in the building during the Earth, Wind, and Fire concert at Common Ground. There also was a Lugnuts game that evening with fireworks, as well as a wedding and an after party at the Lansing Center. Peter extended his kudos to the Parking Authority, because there were no parking complaints noted, and he commended the Lansing Center staff as well. July 20 Diamond Quest used Hall A and had about 1,200 attendees. July 30 and 31 the Michigan Works Disability Conference was in house with 250 attendees. August 1-3 Historic Cars of Lansing used the Lansing Center for their registration, a car display, an auction and a Hall C dinner. August 2 the "Capital Area City African American Cultural Association" held a parade, along with a pre-parade reception in the gazebo area for about 300 people. August 8-11 the World Quilt Textile Show was held at the Lansing Center for the third year with about 3,000 people attending their event. August 11-15 the Spartan Motor Chassis Fire Truck Expo took place for the second year at the Lansing Center. We also hosted 6 weddings and 2 social events. Upcoming events include: the Chamber Business Fair, the Capital Area Job Fair, and the Governor's Educational Summit are all in mid to late September. August 24-25 the Michigan Democratic Convention is at the Lansing Center. At 8:58 a.m. Commissioner Sharon Peters was telephoned and joined in the conversation regarding Common Ground. 5. Common Ground: Peter thanked the Board for their help and direction specifically this year in light of September 11 and the sensitivities regarding our budget and the Tourism Industry in general and for their support and confidence in seeing that we moved forward. Specifically he thanked Commissioner Janssen and Foster, Swift, Collins, and Smith for their corporate sponsorship of the VIP Oasis and he thanked Tim Haggart for his help in putting together the maze. He also thanked the Board members who volunteered to work the festival, the City, specifically Bob Swanson, and the various Department Heads and noted without the City's financial support the festival would not take place. He also thanked Kevin Meyer and his associates and noted without their help, guidance and availability we would not be able to produce the festival. He also thanked the various Lansing Center staffs headed by Patrick, Marian, Linda and Bill for their countless hours, time and effort, which helps the event to come together each year. Peter noted he and Kevin will meet with the paper later this week to give them some feedback on where we think the festival ended up this year. Peter noted he met with Michael Kane and he had nothing but positive comments to make having attended the festival, and they are interested in participating again next year. Financially we will have a better handle on the information later in the week, however in general we did better than last year in terms of attendance(58,000 for last year compared to 60-61,000 this year). The economic impact will be up over last year also. Through Community Share this year we were able to contribute approximately $20,600 back to the community in cash for a three-year total of approximately $55,000, for an event that has not broken even and through the Capital Area United Way we donated approximately $8,000 in tickets, through Linda's efforts. LEPFA Board of Commissioners Meeting Page 7 August 20, 2002 This year there were a number of new events associated with Common Ground, specifically an Arts and Crafts component, which had 40 vendors on Friday through Sunday. The Sand Bar was a new component located in the salt shed, and it was a great hit, it replaced the Evergreen Grille and was more profitable for us. The riverboat the Princess Laura was added this year, and was rented throughout the event. We also added a Swing Dance component, which was partnered with Burcham Hills and had 200-300 attendees, which we were very happy with and we will look to continue that event next year. The golf activities were expanded to include putting contests, chipping and putting, and one individual won$5,000. We also hosted an After Party. Peter noted overall many things came together to make this year's event the success it was and we have received a lot of positive feedback and we will be back next year based on the positive feedback we have received. At 9:10 Commissioner Janssen exited the meeting. Kevin Meyer echoed his gratitude to everyone including the staff, the Board, and noted that the event is a team effort. He thanked everyone for their support throughout the year and for their continued support of the concept, and noted that it is a great team effort and community event. Kevin stated that he is proud of the event and that it couldn't be done without everyone's support. Peter noted there is a final Volunteer Party Wrap Up this evening for the volunteers from 6:00 p.m. to 9:00 p.m. in the ballrooms and that it is another thank you to the volunteers for their time and commitment and he invited those who are able to join them. Peter opened the discussion for questions/comments. Commissioner James Butler asked if the IBM banner has been found? He noted in his opinion everyone did a great job, he thanked the City for their support. He noted with this type of event and the number of people coming downtown, it shows the level of appreciation in reference to the community and it also enhances the quality of life in Lansing and sometimes a cost can not be equated in reference to all that the festival brings, i.e. goodwill and feedback. Bob Swanson noted from the City's perspective that this is exactly what the Mayor and the City had hoped for when the Authority was set up and the stadium was built and that they embarked on bringing people to downtown Lansing for fun events. He noted on Saturday night we had nearly 10,000 at Common Ground, 11,000 at Oldsmobile Park, and 5,000 at the Lansing Center and we packed downtown, and that is important to the City. Bob also noted they appreciate everyone's work on the Authority, and the event was a great success from the City's perspective and they intend to continue actively work on events with the Authority, which is critically important. Commissioner Sharon Peters commented that she knew earlier in the year we were not sure whether or not we could undertake Common Ground and she noted she is thrilled that we did and that she thought it was wonderful and attended most evenings. She noted that she felt we had a wonderful experience and she applauded and appreciated the different things we undertook this year. As we move forward she encouraged everyone to look at different things, and she noted that she understood that we are committed to "popular appeal" and that we have committed to a lot of rock groups and have been successful. LEPFA Board of Commissioners Meeting Page S August 20, 2002 She questioned whether we could use the diversity in the "Common Ground" idea to diversify some of our offerings because there is so much different music that brings people together and puts forth that "common idea." She suggested in our building and growth that it might be something that we look at, i.e. the Latin beats, etc. which might attract a wide range of people. She noted that she was happy that we were able to be as successful as we were this year, and saluted those Peter named, this effort, and she indicated she is committed to its future. Commissioner Peters questioned how we did financially? Peter noted he could only provide a generic answer since we are wrapping up; however, he indicated that we did do better than last year. D. PERSONNEL COMMITTEE REPORT: Committee Chair Cyril McGuire indicated that there was no report. E. LONG RANGE PLANNING COMMITTEE: Peter noted we continue to embark on the financial equation and we hope to meet with the consultant this week or next pending scheduling. VII. COMMISSIONER AND STAFF COMMENTS: 1. Commissioner Sharon Peters: Commissioner Peters noted she was happy to be at the first meeting presided by Chairman Cyril McGuire, and that she is pleased with how the Board is progressing over the years, and she noted she looked forward to a very successful year. Chairman McGuire thanked Commissioner Peters. 2. Commissioner Charlotte Sinadinos: Commissioner Sinadinos commented that she enjoyed working Common Ground and found that things went very smoothly the third year; and that the VIP tent was well run and well organized. 3. Commissioner Ellen Jeffries: Commissioner Jeffries echoed what Charlie had said, and noted that Heidi is a wonderful volunteer coordinator and that every year the event has gotten better. She noted the first night is always the worst, and that is typical; however, she noted it was exciting to see downtown Lansing alive, and she noted she received a lot of comments from people that she knows indicating how wonderful it was and what a good time they had. She noted there really weren't any negative comments noted at the Information Booth and she commended everyone for their hard work. 4. Commissioner Denise Wootton: Chairman McGuire welcomed Denise Wootton back to the Board. Denise noted it was good to be back and that she was looking forward to a positive year. 5. Commissioner Kate McNenly: Commissioner McNenly echoed the comments on Common Ground and noted she was astonished at the amount of human resources it takes to pull this together and how hard the staff works, but none harder than Marian Bryant. She also noted one man who had been waiting a long time in line commented that no body has ever done something like this and that they came every day of the festival from Jackson, and that it was their third year and that they hoped it could continue. LEPFA Board of Commissioners Meeting Page 9 August 20, 2002 6. Commissioner James Butler: Commissioner Butler complimented Chairman McGuire on a job well done thus far. In reference to Common Ground, he noted he was extremely pleased with the growth and also the continuing process of improvement and noted further that it seems that each year new endeavors are added. He noted he felt the "Meet and Greet" was outstanding and upon discussion with various others, he noted they were delighted with the idea and being a part of the event and are happy to continue their support. 7. Chairman Cyril McGuire: Chairman McGuire noted that this being the third year, there is no turning back now and it will do nothing but grow from here. He noted often the second year is questionable, but we are here now to stay and it's going to get better. 8. Linda Frederick son: Linda noted there are "Common Ground" gift bags similar to the ones we gave our sponsors for Board members to take with them today. 9. Marian Bryant: Marian thanked the Commissioner that helped during Common Ground and noted that Brandon Reed is leaving, Friday will be his last day and that she would be happy to accept any resumes. VIII. OLD BUSINESS: No report. IX. NEW BUSINESS: No report. At 9:25.m. the meeting was adjourned. THE NEXT MONTHLY MEETING IS SCHEDULED FOR TUESDAY, SEPTEMBER 24, 2002 AT 8:00 A.M. AT THE LANSING CENTER IN THE GOVERNOR'S ROOM. Heidi K. Brown, Recording Secretary LANSING ENTERTAINMENT AND PUBLIC FACILITIES AUTHORITY BOARD OF COMMISSIONERS MEETING SEPTEMBER 24, 2002 MINUTES At 8:01 a.m. Chairman Cyril McGuire called the meeting to order in the Governor's Room of the Lansing Center; 333 E. Michigan Avenue; Lansing, Michigan 48933. COMMISSIONERS PRESENT: James W. Butler III, Cyril McGuire, Kate McNenly, Sharon Peters, Charlotte Sinadinos, Bob Swanson (Ex-Officio) Dennis Sykes (Ex-Officio) and Denise Wootton. COMMISSIONERS EXCUSED: Tim Haggart, Charles Janssen, and Ellen Jeffries. OTHERS PRESENT: Heidi Brown, Marian Bryant, Linda Frederickson,William Grove, Peter Sullivan, and Patrick Talty-Lansing Entertainment and Public Facilities Authority. Jim Smiertka and Ron Wilson, City of Lansing. III. ESTABLISHMENT OF THE AGENDA: There were no changes to the agenda. The agenda was approved as submitted. MOTION: Commissioner McNenly SECOND: Commissioner Sinadinos IV. PUBLIC COMMENT: There was no public comment. V. APPROVAL OF THE MINiTI'ES OF AUGUST 20, 2002: The minutes of August 20, 2002 were accepted as published. Motion: Commissioner Wootton Second: Commissioner McNenly. VI. REPORTS: A. CHAIRMAN'S REPORT: Chairman McGuire noted that he has contacted the various Board members regarding their participation on the various committees. The committees are as follows: Personnel Committee: James Butler, Chairman; Charles Janssen, and Kate McNenly. Long Range Planning: Will remain the same. Finance Committee: Charlotte Sinadinos, Chairman; Ellen Jeffries, Denise Wootton and Bob Swanson(Ex Officio). Chairman McGuire noted that the appointments would be put in writing and mailed to the Commissioners. B. SECRETARY/TREASURER'S REPORT: 1. Monthly Financials: Committee Chairman Sinadinos reviewed the following financial statements as approved by the Finance Committee for the period ending July 31, 2002: a. Lansing City Market-July 31,2002: Under Operating Revenue-Building Rental for the current period and year to-date(it is the same figure because it is the first month of the fiscal year) is $5,789, which is slightly down over last year's amount of$5,961 Total Operating Revenues are $5,824 compared to $5,996. LEPFA Board of Commissioners Meeting Page 2 September 24, 2002 Under Operating Expenses, Salaries and Wages are $2,731 compared to $2,579 for last year. Utilities exceeded last year at $3,352 compared to $3,218. Insurance/Bonding is $311 compared to the prior year's amount of $191.Tota1 Operating Expenses are $8,184 compared to $10,201 for last year. The Net Income for the current period is$7,749 compared to the prior year's amount of$7,446. Total Cash is$61,917 compared to the prior year's amount of$105,616, which is due to the loan to the Lansing Center. Unreserved Equity is $166,092 compared to the prior year's amount of$136,850. Under Budget versus Actual, Building Rental is $5,789, which is over the budgeted amount of $4,690 for a variance of $1,099. Total Operating Revenues are $5,824 versus the budgeted amount of$4,725. Operating Expenses - Utilities are more than budget by ($852). Total Operating Expenses are $8,184 compared to the budgeted amount of $10,431 for a variance better than budget of$2,246. After netting revenues against expenses we are better than budget by $2,958. b. Oldsmobile Park-July 31, 2002: Event Revenues are$61,518 which is comprised of the Lansing Symphony and the Event Expenses are $73,367 for an event loss of $11,849 which was applied to the Event Development Fund. Under Operating Expenses, Utilities are $4,943, which exceeds the prior year's amount of $4,260. Insurance/Bonding is up at $4,283 compared to the prior year's amount of$2,966. Total Operating Expenses for year to date are($18,806), which is more than the prior year's amount of ($14,965). The Income is $1,033 compared to the prior year's income of$15,027 (this amount includes an operating transfer of$10,000 for work at the stadium). Our Total Cash position is down at $57,504 compared to the prior year's $258,379. The Net Event Development Fund is at $65,123 compared to $52,981 for the prior year. Unreserved Equity is $94,223 compared to $325,943 (and the difference is because the subsidy was received in August). Under Budget versus Actual-Utilities were over budget by($414.32)and Insurance/ Bonding was over budget by ($1,496) for Total Operating Expenses of $18,806 compared to the budgeted amount of$17,998, which is more than what was budgeted by ($808.79). Bottom line, we were more than budget by ($1,218). At 8:12 a.m. Commissioner Sharon Peters entered the meeting. c . Lansing Center- July 31 2002: Under Operating Revenues, Building Rental for the current period is $24,046, compared to the prior period's amount of$27,710. The Food and Beverage figure is$70,442 compared to$111,290. Equipment Rental is up at$17,899 compared to$7,128 for last year;Tradeshow Utilities are$2,715 compared to$1,675 for last year; Labor Service is up at$6,802 compared to $641 for the prior year. Total Operating Revenues are $124,436 compared to $152,236 for last year. LEPFA Board of Commissioners Meeting Page 3 September 24, 2002 Under Operating Expenses, Salaries and Wages were up due to three payrolls in July and they were $105,485 compared to $72,054 for last year. Utilities are $50,927 compared to $44,835 last year. Insurance/Bonding is up at $10,739 compared to $6,871. Food and Beverage expense is $78,620 compared to $75,052. Total Operating Expenses are $330,456 compared to $267,857 for last year. Total Cash and Restricted Assets are $408,000 compared to $310,000 for the prior year. Accounts Receivables are up at$447,928 compared to the prior year's amount of$193,097. Under Liabilities, Accounts Payable are up at $354,986 compared to $82,505 due to the active month of June. Unearned Revenue/Advanced Rent is $322,428 compared to the prior year's $280,476 which is up $42,000 and is an indication of future business. Unreserved Equity for the current year is $321,776 compared to the prior year's amount of$558,329. Under Budget versus Actual, Building Rental is $24,046 which was close to the budgeted amount of $23,942, which is more than budget by $104.22. Food and Beverage is at $70,442 and is very close to the budgeted amount of $70,000. Equipment Rental is $17,899 compared to the budgeted amount of $10,491 for a positive variance of$7,408. Total Operating Revenues are$124,436 compared to the budgeted amount of $108,908, which leaves us better than budget for Operating Revenues at$15,528. Under Operating Expenses, Salaries/Wages are $105,485 compared to the budgeted amount of $103,879. Utilities are $50,927 compare to $47,204, which is ($3,723) more than budget. InsuranceBonding is higher than budget at $10,739 compared to $7,049 for a difference of($3,690). Total Operating Expenses are$330,456 compared to the budgeted amount of $319,857, which is ($10,599) more than budget. After adding in the City Contribution and Interest, we are $3,615 better than budget. Committee Chair Sinadinos moved that the monthly financials for Oldsmobile Park,the Lansing City Market and the Lansing Center for the period ending July 31, 2002 be received as published, and further that the monthly expenses for each entity be approved. Motion: Commissioner Sinadinos Support: Commissioner Peter, motion carried. At 8:17 a.m. Bob Swanson, Dennis Sykes and Jim Smiertka entered the meeting. C. PRESIDENT AND CEO'S REPORT: 1. Insurance/Bonding Expense: Peter noted as was reviewed in the financial statements, the Insurance/Bonding expense has increased for all three facilities. Quotes were solicited in the summer and we were told the increase was due to 9/11. The increase is a $90,000 increase for our property insurance alone for the three buildings. Peter noted he and Marian met with Bob Swanson and Doug Rubley to see if we could obtain a quote from the City's carrier. There appeared to be a savings from the City's carrier (which was the same carrier we had) and the increase was changed to $50,000. LEPFA Board of Commissioners Meeting Page 4 September 24, 2002 Peter noted he had a call from Doug Rubley indicating that the two underwriters were arguing and we aren't able to get the discounted rate (the City's underwriter is from Chicago, LEPFA's is based out of Detroit). Peter is delving into the reasoning and hopes that we can be insured under the City's umbrella. Peter noted Bob Swanson and the City are aware of the situation, as well as the LEPFA Finance Committee and he wanted to make the Board aware as we continue to monitor the situation. 2. Union Report: Patrick Talty reported since the August Board meeting we met with the new Union and have been able to temporarily approve about 80% of the Facility Workers agreement and were able to temporarily approve about 80% of the Maintenance Workers agreement and we hope to meet with them again on Friday to resolve the final issues which revolve around wages. IATSE has responded regarding the Forepersons unit, and after two attempts on our part to set up meetings, they finally responded and we are looking for a date to meet. Patrick noted that we hope to settle all the contracts very soon. 3. Lansing City Market: Peter reported that the August Rental Revenue was down by approximately $46 compared to last year. Occupancy was 85%, which is a 1% decrease over last year, but is 8% higher than August 2000. New vendors include a candle vendor, Gary Wheeler, who is at the Market every Saturday. In regard to Recruitment, we have been talking to a family who makes vegetarian humus, grape leaves, and falafel. They currently have a very successful business in the summer at another Market and are looking to sell their products year round. Special Events included hosting the "Adopt-A- River" program at the Market, which provided the Vendors with a very busy Saturday. We are also working with the Orchid Growers to host our third annual Orchid and Iris Sale on October 18 and 19; fliers have been mailed and posters have been put up to attract more attendees to this year's event. 4. Oldsmobile Park: We hosted three movies at the ballpark over Labor Day weekend including "Scooby Doo" on August 30 with over 1,500 people attending; August 31 we showed "Harry Potter" for over 600 attendees; and September 1 "Scorpion King" was shown featuring "The Rock" with about 850 patrons. Overall, we were happy with the movies, we were thankful for the good weather, have determined that the big screen movies that have not been released seem to be the most successful. Holywahooza attracted close to 2,000 people; however, the event did lose money, as such, we will continue to evaluate the event for next year. Peter noted $21,000 in cash sponsorships was raised by our Marketing Department and currently we are talking to our existing sponsors regarding next year. Peter reported he will talk with Tom Dickson this Friday regarding the audit, which was discussed at last month's Board meeting. He will continue to keep the Board abreast of any developments. Peter noted the annual year end article regarding the Lugnuts was recently published and it noted that attendance was approximately 404,000. It did not note the trend of leveling off at a much higher level than what was called for in the initial pro forma put together by the City in the article. LEPFA Board of Commissioners Meeting Page 5 September 24, 2002 He noted the leveling off at a higher number is a positive sign and we have met with the Lugnuts at the end of the season and have discussed next season's schedule. The Lugnuts are interested in some unique presentations in an effort to attract more people on slower nights such as Thursdays and are also considering presenting a concert on some of their TMO dates. We also continue to pursue a number of items with MSU Baseball including a "Big 10 Tournament," and a "Round Robin" with Big 10 and MAC schools. Discussions continue with Coach Ted Mahan and Shelly Applebaum. We are going to make improvements to the MSU locker room including painting, mats with their logo, televisions and painting a portion of the tunnel in MSU colors to make it feel more "MSU friendly" in an effort to indicate that we are serious about our interest in MSU, and it is hoped that the initiative will add to the success of a collaborative event. The Fright Night tarps are up, and the build has begun. Fright Night will open on Friday, October 18 and will continue for 10 days intermittently through October 31, which is comparable to prior years. This year we are attempting to attract more elementary and high school students and as such are offering to have this event viewed as a fundraiser by having various groups sell tickets and receive a portion of the sale (i.e. they receive $2 of each $5 ticket they sell). To-date two schools have expressed a desire to participate. We are also looking for groups to be the actors, and each group will receive $400 for each night that they perform. 5. Lansing Center: Peter reported during July we hosted approximately 24 events, for 33 event days with approximately 7,500 attendees, utilizing 229 room nights for an estimated economic impact of approximately $136,000. Compared to July 2001, event days were down by about 10, attendance was up slightly, and room nights and economic impact were down slightly. Sales Update: Peter updated the Board on Wally Byam noting discussions continue and the CVB is still attempting to get a signed contract. Confirmed/Repeat Business: Destiny Team is looking to sign multiple contracts for Halls A, B, and C for June, July, and December of 2003. Michigan Farm Bureau will return in October 2003 for their Sales Kickoff Meeting for about 350 people. Potential New Business: We have submitted a proposal to the Lansing Regional Chamber of Commerce to host their 2003 Annual Meeting in February/March in Hall C. The event has historically been held at the Holiday Inn South for the past several years and is an event that we have been seeking. The Lansing Regional Chamber of Commerce Annual Business Expo is today from 12 noon until 7:00 p.m. and we will have a booth for the Lansing Center and the Common Ground Festival. Facility Highlights: We have hosted a number of events including a Neighborhood Youth Parent Partner Prevention Teen Conference in August, attracting 300 teens; we hosted the Democratic State Convention, attracting 1,OOOs and we also hosted 2,200 people for the Mayor's Lunch in conjunction with the convention. We also hosted a UAW Labor Meeting attracting approximately 500 attendees. In early September we hosted Church LEPFA Board of Commissioners Meeting Page 6 September 24, 2002 Kritselis&Wyble's retirement dinner for about 350 people for Thomas Brennan Sr. The Cystic Fibrosis Association held a fundraiser; and on September 18 the Governor's Education Summit took place at the Lansing Center. Other events include 5 weddings, a High School Reunion, and in October we will host MEA's 150`h Anniversary black tie affair. 6. Common Ground: Peter reported we again have been invited to "The Regional Economic Development Team-4`h Annual Regional Excellence Awards Breakfast" on October 3, at the East Lansing Hannah Community Center. We were selected as a "runner up" in the "Cooperation for Regional Excellence in Arts and Culture" category and he thanked the Lansing EDC for nominating the festival. Peter also noted that at the Common Ground web site we track the visitors, and the Monday before Common Ground through the final day of Common Ground we had 554,000 hits, which equates to approximately 80,000 hits per day. 7. Suite holders Founders Day Event: Peter noted for the past several years we have hosted a "Founders Day Event" which is a special event we created for the Founding Suite holders at Oldsmobile Park. This year we will visit Ford Field on Sunday at 1:00 p.m. for the Lions versus the New Orleans Saints football game. D. PERSONNEL COMMITTEE REPORT: Committee Chair Cyril McGuire indicated that it is time to evaluate the President& CEO, the forms have been mailed and Board members were encouraged to call Heidi if they did not receive the forms. The evaluations will be turned over to the new Chair of the Personnel Committee, James Butler. E. LONG RANGE PLANNING COMMITTEE: Peter noted another meeting has been set with the consultant for October 2. VII. COMMISSIONER AND STAFF COMMENTS: 1. Commissioner Charlotte Sinadinos: Commissioner Sinadinos questioned why the three lampposts were decorated with Christmas decorations in front of the Lansing Center? Peter noted Lisa Estlund Olson is using the posts for garland samples for Silverbells. 2. Commissioner Sharon Peters: Commissioner Peters noted that she did appreciate that we were responsible stewards of our funds, which is important given our status earlier in the year. She was also pleased by the memo and the newspaper's acknowledgement that our Common Ground made the financial progress that it made. 3. Commissioner Kate McNenly: Commissioner McNenly echoed Commissioner Peters' comments regarding Common Ground. 4. Commissioner James Butler: Commissioner Butler questioned the Founders Day trip and wondered if an invitation had be extended to the Board members, Peter will discuss this issue further with Commissioner Butler. Commissioner Butler noted he attended the Democratic Convention at the Lansing Center and he noted that the staff overall did a super job. There were no glitches and he commended Bill Grove as well. He also offered his assistance in regard to the Chamber events at the Lansing Center if needed. LEPFA Board of Commissioners Meeting Page 7 September 24, 2002 Commissioner Peters noted she attended a number of events as well, including the Democratic Convention, the Governor's Summit,and Michigan Non-Profit and as a Board member she had an appreciation as to how we respond as a facility. In particular she referenced the Educational Summit, which had educators from all over the state and noted that the set worked well. The only complaint was the air conditioning seemed to over chill some folks. Overall she noted we have served the community well in terms of our mission and as a place for people to be able to do large events. Commissioner Butler noted the Lieutenant Governor is scheduled to be at the Lansing Center today in conjunction with the Chamber's Business Expo. 5. Chairman Cyril McGuire: Chairman McGuire noted that recently he became known as a poet at Wentworth Park were he was required to read poetry. Bob Swanson noted he attended the 9/11 Ceremony which was very impressive 6. Linda Frederickson: Linda noted there are "Common Ground" gift bags for Board members who did not attend last month's meeting. VIII. OLD BUSINESS: No report. IX. NEW BUSINESS: No report. At 8:55.m. the meeting was adjourned. MOTION: Commissioner Butler SECOND: Commissioner Sinadinos. Motion passed. THE NEXT MONTHLY MEETING IS SCHEDULED FOR TUESDAY, OCTOBER 22, 2002 AT 8:00 A.M. AT THE LANSING CENTER IN THE GOVERNOR'S ROOM. Heidi K. Brown, Recording Secretary LANSING ENTERTAINMENT AND PUBLIC FACILITIES AUTHORITY BOARD OF COMMISSIONERS MEETING OCTOBER 22, 2002 MINUTES At 8:02 a.m. Chairman Cyril McGuire called the meeting to order in the Governor's Room of the Lansing Center; 333 E. Michigan Avenue; Lansing, Michigan 48933. COMMISSIONERS PRESENT:James W. Butler III,Tim Haggart, Ellen Jeffries, Cyril McGuire, Kate McNenly, Sharon Peters, Charlotte Sinadinos, Bob Swanson (Ex-Officio), and Denise Wootton. COMMISSIONERS EXCUSED: Charles Janssen and Dennis Sykes (Ex-Officio). OTHERS PRESENT: Heidi Brown, Marian Bryant, Linda Frederickson,William Grove,Peter Sullivan, and Patrick Talty-Lansing Entertainment and Public Facilities Authority. Councilmember Harold Leeman and Ron Wilson— City of Lansing. III. ESTABLISHMENT OF THE AGENDA: There were no changes to the agenda. IV. PUBLIC COMMENT: There was no public comment. V. APPROVAL OF THE MINUTES OF SEPTEMBER 24, 2002: The minutes of September 24, 2002 were adopted as presented. MOTION: Commissioner Sinadinos; SECOND: Commissioner Butler, motion carried. VI. REPORTS: A. CHAIRMAN'S REPORT: No report. B. SECRETARY/TREASURER'S REPORT: 1. Monthly Financials: Chairman Sinadinos reviewed the following financial statements as approved by the Finance Committee for the period ending August 31, 2002: a. Lansing City Market— August 31, 2002: Building Rental for the current period is $4,268 compared to $4,876 last year. Building Rental for year to date is $10,057, which is down $800 compared to $10,837 for the prior year. Total Operating Revenues for year to date are $10,133 compared to $10,907 for the prior year. Under Operating Expenses—Utilities for year to date are$6,217 compared to$6,282. Marketing is down at$1,711 compared to the prior year's $5,682 which is a timing issue. Total Operating Expenses for the current period are $9,901 compared to $16,430 for the prior year and for year to date the amount is $18,086 compared to $26,632 for 2001. Excess Revenues over Expenses for year to date are $12,273 compared to the prior year's amount of$7,631. LEPFA Board of Commissioners Meeting Page 2 October 22, 2002 The Balance Sheet-Total Cash for the current year is$65,131 compared to$145,377 for the prior year, and is comprised primarily of the loan to the Lansing Center. At 8:07 a.m. Harold Leeman entered the meeting. The Unreserved Equity is $170,616 compared to $137,035 for the prior year. Under Budget versus Actual, the Total Operating Revenue for year to date is$10,133 compared to the budgeted amount of $9,346, which is $787 better than budget. Under Operating Expenses, Utilities have a variance of($365) for the current period and for year to date we are also more than what was budgeted by ($1,217). Total Operating Expenses for the current period are $9,901 compared to the budgeted amount of$12,535 which is better than budget by $2,633. Year to date the figure is $18,086 compared to the budgeted amount of$22,966, which is better than budget by $4,880. After netting the income against the expenses, we are better than budget by $5,667. After adding in the City Contribution and the variance for interest we are $4,899 better than budget. b. Oldsmobile Park - August 31 2002• Event Revenues for the current period are $59,913 and Event Expenses are $78,197, for an event loss of($18,283), which was applied to the Event Development Fund. The events that took place included the movies and Holywahooza. Under Operating Expenses - Utilities for the current period are $4,265 compared to $4,645 for the prior year, and for year to date Utilities are$9,209 compared to$8,905 for the prior year. Maintenance of Facilities for the current period this year is$6,503 due to repairs to the HVAC and concrete repair; year to date the figure is $6,990 compared to$1,949 for 2001. Insurance and Bonding continues to be addressed for all three entities, and the increase for year to date is $11,678 compared to$5,933 for the prior year and is up by $5,700. Total Operating Expenses for the current period are$22,916 compared to$21,691. After adding in the City Contribution and Interest, we have a loss of($4,444) for year to date compared to the prior year's amount of $13,580. At 8:10 a.m. Ron Wilson and Linda Frederickson entered the meeting. Our Total Cash position is $312,012, which is up $56,000 compared to$255,410 for the prior year. The Net Development Fund for the current year is $46,840 compared to$52,545 for the prior year. Accounts Receivable are$199,054 compared to$20,506 for the prior year. Unreserved Equity is $90,491 for the current year and was $105,893 for the prior year. Under Budget versus Actual, under Operating Expenses, year to date Utilities are $9,209 compared to the budgeted amount of$9,058, which equates to a variance of ($151) more than budget. Maintenance of Facilities for year to date is $3,658 over budget and Insurance/Bonding is ($6,104) more than budget. Total Operating Expenses year to date are$44,356 compared to the budgeted amount of$40,772 which is greater than budget at($3,584). LEPFA Board of Commissioners Meeting Page 3 October 22, 2002 After adding in the Interest, and the City Contribution, we are more than what was budgeted by($4,172). Commissioner McNenly asked if the Event Development Fund amount of$46,000 is after the loss has been deducted? Chair Sinadinos noted the amount was the final figure. c. Lansing Center-August 31, 2002: Building Rental for the current period is $66,222 compared to $45,406 for the prior year and for year to date the figure is $90,268 compared to$73,116 for last year which is up about$17,000 over last year. Food and Beverage is up for the current period at$261,312 compared to$172,571 last year and it is up for year to date as well at $331,754 compared to $283,862, which is up by about$47,000 over the prior year. Equipment Rental is up as well for year to date at $50,832 compared to$34,267. Trade Show Utilities are up for year to date at$8,212 compared to $4,425. Labor Service for year to date is $28,979 compared to$12,567 for 2001. Total Operating Revenue for the current period is $395,666 compared to $266,214 for last year and year to date Total Operating Revenues are $520,102 compared to $418,450 for last year. At 8:14 a.m. Commissioner Sharon Peters entered the meeting. Under Operating Expenses Salaries and Wages for the current period are down at $122,082 compared to$133,047 for the prior year and they are up for year to date at $227,568 compared to $205,101. Utilities for the current period are $56,629 and were$51,330 for the prior year and for year to date the figure is$107,557 compared to $96,165. Insurance/Bonding is up for the current period at $11,762 compared to $6,769 for the prior year and year to date the amount is$23,792 compared to$13,641 for last year. Food and Beverage expense for the current period is$162,720 compared to the prior year's amount of $134,216 and year to date the figure is $241,340 compared to$209,269. Year to date Excess Revenues Over Expenses are ($129,571) compared to ($177,842). Totaling together Cash and Restricted Assets for the Current Year we have$223,235 compared to the prior year's amount of $290,162. Under Liabilities - Unearned Revenue/Advanced Rent is up at $306,223 compared to the prior year's $279,433. Unreserved Equity for the current year is $332,058 compared to $448,178 for the prior year. Under Budget versus Actual, Building Rent is $90,268 compared to the budgeted amount of$89,605 for a variance of$663) more than budget. Food and Beverage for year to date is better than budget by$11,754. Total Operating Revenue for the month is$395,666 compared to the budgeted amount of$342,575 which is better than budget by $53,151 and for year to date the actual is $520,102 compared to the budgeted amount of$451,423 for a variance better than budget of$68,679. Under Operating Expenses- Salaries and Wages for the current period are $122,6826827 compared to the budgeted amount of$128,894 for a variance better than budget of$6,011; year to date the figure is$216,996 compared to$231,973 for a variance better than budget of $14,976. Actual Utilities for year to date are $103,557 compared to the budgeted amount of $94,408 for a variance of ($13,149) over budget. Food and Beverage Expense for the current period was over budget by ($27,499) compared to($36,353) over budget for year to date. LEPFA Board of Commissioners Meeting Page 4 October 22, 2002 Chairman Sinadinos moved that the monthly financials for Oldsmobile Park, the Lansing City Market and the Lansing Center for the period ending August 31, 2002 be received as published, and further that the monthly expenses for each entity be approved. Motion: Sinadinos Support: Peters, motion carried. C. PRESIDENT AND CEO'S REPORT: 1. Union Report: Patrick reported since last month's meeting we have met with the new Union regarding the Facility Workers and Maintenance Workers contracts and are very close to an agreement. Wednesday the employees are meeting with the Union and we hope they will approve the contract. Management has moved on the financial package and provided the Union with supportive documentation that helped them realize that what we are offering is fair. In regard to the IATSE— Forepeople's contract, they have recently filed a petition to have the new Union represent them, which means that negotiations will come to a halt until the election slated for November 9-15, and will then go back to the table. Chairman McGuire requested the name of the unions. Patrick clarified that the new union is the Independent Lansing Center Entertainment Employees Association and the old union is the IATSE union, which is a member of the AFL/CIO and the new union is not a member of the AFL/CIO, by choice. 2. Lansing City Market: Peter reported that the September rental revenue was down by approximately$53 compared to last year. Occupancy was at about 82%, which was down by 1% compared to last year, but is a 6% increase over September of the 2000. In regard to recruitment efforts, we have been working with produce growers, as well as a number of sellers about spring 2003 and their desire to set up at the City Market. October 19 and 20 the Orchid Sale took place, and it was a busy weekend for the Market, overall they were pleased with their sales and hope to return for a fourth year. Silver Bells in the City is again scheduled for November 22 and plans are underway to make this year's event as successful as last year. We will provide cider and cookies throughout the weekend and will have clowns and Santa in house on Friday. The Market will be decorated for the holiday and will include musical entertainment and many of the vendors will provide free samples. Silver Bells is one of the larger events for the Market. 3. Oldsmobile Park: Peter reported since the last Board meeting he has talked to Tom Dickson regarding the sensitivities and discussed our issues and their response. Tom feels differently than us, however dialog continues and Tom has asked Greg Rauch, Manager, to provide documentation regarding the discrepancy. In addition, Peter noted he has asked our Food and Beverage consultant to review the documents and initially he felt that we were correct in that there was a financial discrepancy. Peter reminded the Board that last year the Lugnuts took their Food and Beverage operation in house and we are trying to get to the bottom of the issue. Fright Night, our annual Halloween Spectacular commenced this past Friday and Saturday with 472 attending on Friday, and 731 on Saturday for a total of 1,200 attendees, which is consistent with the past two years. LEPFA Board of Commissioners Meeting Page 5 October 22, 2002 It will continue again on Thursday and will take place through Halloween for a total of ten (10) days, which is similar to the past two years. The theme this year is "Fortress of Fear." Peter thanked the staff that is coordinating the event and noted one of our primary builders, Genesis Garza, was quoted in a recent article regarding haunted houses and we hope to have coverage in the "What's On" section of the Lansing State Journal. Peter asked that if anyone is interested in attending that they let us know and he also thanked Tim Haggart and the Local for purchasing a block of tickets. Linda Frederickson noted on Friday night WMMQ promoted Fright Night along with the Jaycee's haunted house and did a live remote from both locations. The Marines will be on hand, and we have a new partnership with "Liquid Concessions,"which will be selling hot chocolate and glow products. Linda reviewed Fright Night hours. Linda noted Genesis is from LCC and is working as an independent; previously he has worked with actor Jeff Daniels on sets for "Escanaba in Da Moonlight" and has just finished working on the movie "China." Linda also noted that Jason, from our Food and Beverage Department did the painting on the front and did a great job. Peter noted he and Patrick met with Sherry Applebaum and Ted Mahan from MSU regarding the different potential baseball initiatives at Olds Park including the potential of a Big Ten Playoff Series, and a Round Robin Tournament that would include Michigan teams. He noted that overall it was a very positive meeting and we hope we will be moving forward on the Round Robin Tournament for 2003 on May 11 and 12, this will be a new baseball initiative and MSU is excited about the tournament. We are also discussing the potential for additional events. 4. Lansing Center: We hosted approximately 39 events for 64 event days with approximately 19,000 attendees, for 4,600 room nights, for an approximate economic impact of $1,054,000. In comparison to the previous August, we were 12 event days ahead of last year; we were 7,200 ahead in attendance, 2,800 ahead in room nights and$525,000 more in estimated economic impact. • Sales Update: We issued a contract for the YMCA of Greater Lansing for their Diana Awards Dinner for 450 people in March 2003, as well as a private meeting for about 150 people. Peter noted this is a group that we hosted in the mid-1990s and are happy to have them return. We have also issued contracts for the Big Ten Championship Soccer Breakfast for 300 people in early November and Autowares for their Advance Technical Training Program for 1,000 people for lunch in September 2003. A contract was also issued for the Michigan Department of the Attorney General annual conference in December 2002 for 500 people Potential new business includes a company called "Triton" that is looking to host a pontoon boat show and they want to utilize Hall B and the Grand River for their Saturday to Monday event. Murdock Jemerson has approved the event in terms of using the river and they hope to put 10-15 boats in the river for test driving. In regard to holiday parties, weddings and proms, we have 15 holiday parties compared to 12 for last year; last year we hosted 28 weddings and to-date we have 27 booked; and in regard to proms, last year we hosted 6 and currently have 5 scheduled. LEPFA Board of Commissioners Meeting Page 6 October 22, 2002 • Event Highlights: During the past month we have hosted the Regional Chamber's Business Trade Fair, which included 150 businesses with about 700 attendees. September 25 the Michigan High School Athletic Association returned for their annual event. In early October the Optometric Association's annual conference was in house with 60 exhibitors and 750 attendees. We also hosted a new event, the "Face National Model and Talent Search" for about 200 people. J Mollema and Son was in house on October 8 and 9 and about 600 people attended the tradeshow. October 9 and 23 Blue Care Network will host employee meetings for about 650 employees. October 12 the Michigan Education Association hosted their 150''Anniversary Celebration for over 800 people in Halls A, B and C. October 13 the Jesus Christ Church of Latter Day Saints hosted over 1,200 people. For the sixth year, on October 14 the Michigan Interscholastic Press Association, which attracts 1,800 journalism high school students, was in house and the students lunched downtown as well. The Michigan Council of Teachers of English came to the Lansing Center from a hotel and had over 1,000 attendees. Over the past month we have hosted seven (7) weddings, and two (2) reunions for Eastern High School. • Upcoming Events: Upcoming events include the "Hearts at Home"conference on November 1 and 2. November 2 the "Fake the Funk After Party" will take place; November 3 the Chonda Pierce Comedy Show is scheduled; November 6-7 Michigan Greenhouse Growers are in house;November 9 the Michigan Education Association is in the building; November 22 Silver Bells is in house and November 27 through December 1 Festival of Trees is scheduled. 5. LEPFA Insurance: Peter commented that insurance continues to be a very sensitive issue for LEPFA, and as was discussed at the last Board meeting, we were trying to piggyback with the City to get a reduction in our property insurance rate, which has increased by approximately $90,000 over last year. We had hoped we could reduce the amount by $40,000 by getting our coverage under the City, which we were initially told could happen and have since been told that it cannot happen. This issue has been discussed at the Finance Committee meeting and we continue to address this issue. 6. Commissioner James Butler's TV Appearance: Peter noted James and Rishan Butler were spotted on the Today Show outdoors. D. PERSONNEL COMMITTEE REPORT: Chairman Butler reported that most of the CEO's performance evaluations are in and the committee will be meeting soon. He also noted in reference to the IATSE Union, Michael David is the chief negotiator and is the individual that LEPFA has been working with. Chairman Butler noted this group used to represent all of the Union LEPFA employees; however since the other group has broke away, they now represent the Food and Beverage employees, the Forepersons and the AV staff. The new group has appointed John McPherson as their chief negotiator and they represent the Maintenance and Facility Workers. Chairman Butler noted we have been in constant negotiations with them to try to address the primary issues, and those issues are: 1. Health and Welfare: they would like the language changed, which is a minor issue 2. Sick Leave: They want us to change the language as to how individuals are treated when they go on sick leave per se. 3. Wages: They are looking at the different percentages of increases. LEPFA Board of Commissioners Meeting Page 7 October 22, 2002 Committee Chair Butler indicated that the proposals that we have put on the table are fair and equitable and are in comparison with what the City pays their employees. He also noted an extensive analysis has been completed to compare what we are offering in comparison to Cobo Hall and Grand Rapids, and to make certain that we are fair and equitable. Their final issue is Educational Assistance: and they want a guarantee that we would give them educational assistance. Committee Chairman Butler noted he felt that management is doing a great job in regard to negotiating and hopefully we will be able to resolve all of these issues soon. Currently we are at the table in an attempt to sincerely work on the items so that we can bring the items to closure. E. LONG RANGE PLANNING COMMITTEE: Peter Sullivan reported that we met with the consultant regarding potential financial strategies for expansion and continue to move forward on potential ways of financing. VII. COMMISSIONER AND STAFF COMMENTS: 1. Commissioner. Sharon Peters: Commissioner Peters urged that we continue to extend ourselves when it comes to bringing in young people into our facilities and to meet the challenges of bringing them here. She noted our downtown and our facilities need the vitality that our young people offer, despite the fact that there may be challenges. Commissioner Peters noted that she hopes that we continue to attract activities that bring young people to our facilities. 2. Commissioner Charlotte Sinadinos: Commissioner Sinadinos noted that she looks forward to attending Fright Night, and that her brother's company is holding their Christmas party at the Lansing Center. 3. Commissioner Tim Haggart: Commissioner Haggart noted he had the pleasure of attending the Founding Suiteholders trip to Ford Field and had a wonderful time. 4. Commissioner Denise Wootton: Commissioner Wootton noted that there was discussion about the negative press regarding the two long-term vendors leaving the Market and at the last Vendor's meeting there was discussion about sending letters in response. Commissioner Wootton noted she tried to persuade them not to write the letters, because there has been no response to article because it would raise the issue again. Bob Swanson asked what she assessed the impact of the two retiring vendors would be on the Market? Denise suggested that previously many farmers did not want to come to the Market due to the competition, and that they may be more inclined to come to the Market now. In the long run, she felt there wouldn't be much impact. Peter noted that John Decker is moving and expanding in Marian McNamara's space since Marian McNamara is retiring at age 82 and the Yeager's are retiring as well. In terms of the flowers,vegetables and fruit, they should be covered and their departure should open doors for new vendors. Peter noted that we have known about the retirements and Mark is actively recruiting new vendors. Linda Frederickson noted Mark Ter Haar is recruiting three different vendors and right on the heels of the LSJ article, there is an article in the Greater Lansing Business Monthly featuring the Market business community. Chairman McGuire questioned the status of the Market's restaurants/eateries, noting there was some dissatisfaction with one of the vendors. Peter noted Jon Ezzo did a great job, but retired a year or so ago and the folks that bought the business do not provide the same food service. LEPFA Board of Commissioners Meeting Page 8 October 22, 2002 Linda clarified that the Ezzo's business was purchased, in comparison to the space vacated by Kurt de Does, for example, was leased and is now rented by the Kewenaw Pasty Shop. Currently there are five food operators. 5. Commissioner James Butler: Commissioner Butler questioned where are we in terms of bidding for the Lansing Regional Chamber of Commerce's annual banquet? Peter noted we went through all the motions and they decided to stay at the Holiday Inn South. Bob Swanson indicated that Sue Parr reported that LEPFA was extremely competitive in their proposal, but the determining factor was that the building was not available on the date that the speaker was available and she indicated to Bob that she had hoped that we would be in the process next year. Commissioner Butler noted that was the same feedback that he received and also noted that Bob was also a very strong champion for the Lansing Center's proposal. He also noted that a recommendation was made to consolidate the Chamber with another group(the Chamber Show and ITECH). Peter noted nationally IT shows have had a dramatic downturn and the marriage would be ideal and was suggested by our staff. At 9:05 a.m. Commissioner Peters exited the meeting. 6. Commissioner McNenly: Commissioner McNenly questioned the status of the Wally Byam event? Linda noted that there hasn't been a meeting in a month and the last meeting was canceled. Commissioner McNenly questioned the status of the Marketing position and Linda noted that she is reviewing resumes and noted further that the position was posted in the Lansing State Journal, the Grand Rapids Press, and the IAAM newsletter and web site and that she hopes to begin interviewing next week. Marian noted she has filled the Food and Beverage position, and has had a setback with the additional position and has posted it again and is seeking additional resumes. 7. Ron Wilson: Ron noted last evening's Council meeting was very quick and the meeting discussed development issues. Commissioner Butler asked Councilmember Leeman to give an overview of the Sparrow Hospital parking lot issue. Councilmember Leeman noted that he wished they had looked at alternatives instead of continuing with their position, and now there is a law suite filed against the City regarding their action on the proposal. He also suggested that if Wally Byam does take place, dialog needs to take place with the neighborhoods adjacent to the area that will be impacted and he asked that he be kept informed so that he can contact individuals. VIII. OLD BUSINESS: No report. IX. NEW BUSINESS: No report. At 9:10 a.m. it was moved that the meeting be adjourned. Motion: Commissioner Butler Second: Commissioner Haggart, motion carried. THE NEXT MONTHLY MEETING IS SCHEDULED FOR TUESDAY, NOVEMBER 26 AT 8:00 A.M. AT THE LANSING CENTER IN THE GOVERNOR'S ROOM. Respectfully submitted, Heidi K. Brown, Recording Secretary LANSING ENTERTAINMENT AND PUBLIC FACILITIES AUTHORITY BOARD OF COMMISSIONERS MEETING NOVEMBER 26, 2002 MINUTES At 8:00 a.m. Chairman Cyril McGuire called the meeting to order in the Governor's Room of the Lansing Center; 333 E. Michigan Avenue; Lansing, Michigan 48933. COMMISSIONERS PRESENT: James W. Butler III, Charles Janssen, Ellen Jeffries, Cyril McGuire, Kate McNenly, Sharon Peters, Charlotte Sinadinos, Bob Swanson (Ex-Officio), and Denise Wootton. COMMISSIONERS EXCUSED: Tim Haggart and Dennis Sykes (Ex-Officio). OTHERS PRESENT: Heidi Brown, Marian Bryant,Linda Frederickson, William Grove,Peter Sullivan, and Patrick Talty - Lansing Entertainment and Public Facilities Authority. James Smiertka - City of Lansing. III. ESTABLISHMENT OF THE AGENDA: The agenda was supported as presented. IV. PUBLIC COMMENT: There was no public comment. V. APPROVAL OF THE MINUTES OF OCTOBER 22, 2002: The minutes of October 22, 2002 were adopted as presented. MOTION: Commissioner Wotton; SECOND: Commissioner Sinadinos, motion carried. VI. REPORTS: A. CHAIRMAN'S REPORT: Chairman McGuire reported the following: 1. December Board Meeting: Chairman McGuire noted that due to the holidays, the December meeting will be moved up one week to December 17, 2002. The monthly Finance meeting will also be moved up one week to December 16 at 4:00 p.m. and financials will be distributed at the meeting. 2. Annual Holiday Gathering: Chairman McGuire noted that the annual LEPFA Board of Commissioners and Staff Holiday gathering will also be held on December 17 at 5:00 p.m. Chairman McGuire encouraged everyone to attend and noted if there are any questions, they should see Heidi. B. SECRETARY/TREASURER'S REPORT: 1. Monthly Financials: Chairman Sinadinos noted that traditionally by this time the financials would be caught up; however, due to the various vacancies in the Accounting Department, we anticipate it will probably be February before they are up to date. Chair Sinadinos reviewed the following financial statements as approved by the Finance Committee for the period ending September 30, 2002: Lansing City Market: Total Operating Revenues for the current period are $5,535 compared to$4,857 for the prior year. For year to date we have revenues of$15,668 compared to $15,764 for the prior year. LEPFA Board of Commissioners Meeting Page 2 November 26, 2002 Under Operating Expenses - Maintenance of Facilities for the current period are $1,659 compared to $145.53 for last year. Total Operating Expenses for year to date are$29,030 compared to$35,964 for the prior year. Excess Revenues over Expenses for year to date are $16,982 compared to the prior year's amount of$14,871. The Balance Sheet- Our cash position is down compared to the past year at$84,167 compared to$124,518 for the prior year, which reflects a loan to the Lansing Center, which also equates to the Accounts Receivable balance of$85,202. The Unreserved Equity is $175,325 compared to $144,275 for the prior year. Under Budget versus Actual, the Building Rental was better than budget by$1,249 and for year to date it was better than budget by$2,030. The Total Operating Revenue for year to date is better than budget by$2,052. Under Operating Expenses, Utilities for year to date were higher than what was budgeted by ($1,350) and Total Operating Expenses for year to date were higher than what was budgeted by$29,030 compared to the budgeted amount of $34,714, which is better than budget by $5,683. After adding in the city contribution and the variance for interest we are $6,588 better than budget. b. Oldsmobile Park - September 30, 2002: There were no events to generate revenue; however, $50.71 in interest was noted. Remaining expenses from Holywahooza were noted in the amount of$135.97, which equates to an Event Development Fund loss of ($85.26). Under Operating Expenses-Chair Sinadinos noted we continue to deal with the issue of insurance and for the current period the amount is $4,761 compared to $2,966 for the prior year; and year to date the figure is almost doubled last year's figure at $16,439 compared to $8,899 for last year. Total Operating Expenses for the current period are $19,848 which is less than the prior year's $24,099 and year to date the expense is $64,205 which exceeds the prior year's $60,756 and the difference in the amounts is attributed to the insurance increases. After adding in the city contribution and interest, we have a loss of($3,688) for year to date compared to the prior year's amount of$9,604. At 8:10 a.m. Bob Swanson entered the meeting. Our Total Cash position is$415,041,which is up compared to the prior year's amount of$209,680 and the increase is due to a payment received from the Lugnuts. The Net Development Fund for the current year is$46,755 compared to$50,842. Unreserved Equity is $91,162 for the current year and was $100,213 for the prior year. Under Budget versus Actual, under Operating Expenses, Utilities are better than budget by$783 for the current period and are better than budget by $632.00 for year to date. Insurance is higher than budget by ($8,078). Total Operating Expenses for year to date are$64,205 compared to the budgeted amount of$65,785 which is better than budget by $1,579. After adding in the Interest, and the city contribution, we are better than budget by $1,346. LEPFA Board of Commissioners Meeting Page 3 November 26, 2002 c. Lansing Center- September 30, 2002: Building Rental for the current period is $63,237 compared to $60,903 for the prior year and for year to date the figure is $153,506 compared to$134,020 for last year. Food and Beverage is up for the current period at $201,564 compared to $205,708 last year and it is up for year to date at $533,319 compared to$489,570. Total Operating Revenues for the current period are $332,682 compared to $335,121 for last year and year to date Total Operating Revenues are $852,785 compared to $753,571 for last year, which is up by approximately $100,000. At 8:12 a.m. Commissioner Sharon Peters entered the meeting. Under Operating Expenses - Utilities for year to date are$161,638 compared to the prior year's$140,998. Insurance/Bonding is up for year to date at$35,585 compared to $20,411 for last year. Total Operating expenses are $425,010 compared to $376,195 and for year to date the figure is $1,192,516 compared to $1,068,025. After adding in the city contribution we have a loss for year to date of($143,967) compared to ($171,492) for last year. Totaling together Cash and Restricted Assets for the current year we have $390,000 compared to the prior year's amount of$246,000. Accounts Receivable are $548,175 compared to$351,310. Under Liabilities-Unearned Revenue/Advanced Rent for the current year is $297,676 compared to the prior year's$296,383. Unreserved Equity for the current year is $317,661 compared to $454,528 for the prior year. Under Budget versus Actual, the Building Rental for the current period was better than budget by$7,399 and year to date it was also better than budget by $8,063. Food and Beverage for the current period is better than budget $2,863 and for year to date we are better than budget by$14,618. Total Operating Revenues for the current period are under budget by $3,759. Under Revenues, for year to date we are better than budget by $64,920. Under Operating Expenses-Utilities were higher than budget for the current period by ($6,877) and the year to date figure was higher than budget by $20,026. Insurance/Bonding for the current period is higher than budget by ($4,743), and year to date the figure was higher than budget by ($14,438). Food and Beverage Expense for the current period was better than budget by $13,454 and the year to date to date figure was higher than budget by $($21,029). Netting the expenses against revenues, we are better than budget for year to date by $20,489 and with the city contribution and interest, we are better than budget by $16,359. Chairman Sinadinos moved that the monthly financials for Oldsmobile Park, the Lansing City Market and the Lansing Center for the period ending September 30,2002 be received as published, and further that the monthly expenses for each entity be approved. Motion: Sinadinos Support: Butler, motion carried. LEPFA Board of Commissioners Meeting Page 4 November 26, 2002 2. 2001-2002 Annual Audit: Committee Chairman Sinadinos reported that the Finance Committee met with Mark Kettner and noted that as usual he was very complimentary about Marian, Peter, access to the numbers and how the process went so smoothly. Marian Bryant reviewed the report as follows: • Page One: This is the auditor's opinion and they stated that it was a clean audit, which is what we expect, that the financial statements fairly express the financial position of the Lansing Entertainment and Public Facilities Authority as of June 30, and the results of the cash flow and operations for the year end. Marian noted that the only difference is in the last paragraph. We were required to implement the "GASB 34" this year and as part of that there is a management discussion/analysis/report that we chose not to provide. After consulting with our auditors, they indicated that it would not add anything to the opinion, and we would be restricted on what we could provide and in his opinion he would not be required to qualify the opinion because it was not added. It was decided not to provide the information and this is stated in the last paragraph. Marian noted that due to "GASB 34" the year end statements are in a different format, the combined statements are gone and all that is present are the statements that are broken down by each facility. • Page 16: This page contains a note that speaks to the implementation of"GASB 34." • Also, there was no management letter, because the auditors did not feel there were any issues. Finance Committee Chair Sinadinos moved that the audit be accepted as presented. Second: Commissioner Peters, motion carried. C. PRESIDENT AND CEO'S REPORT: 1. Union Report: Patrick reported that since last month's meeting we were able to come to agreement with the Maintenance and Facility Workers. The agreements have been signed and are in place and are up for renewal in June 2005. Patrick noted that the terms worked out very equitably for both parties and we are happy that it is finished. The Foreperson Unit (the supervisors of the Facility Workers) held their election last week, and the majority of those who voted chose to be represented by the new union and we have a meeting set for next week. Patrick noted that it is his hope that the process will go relatively quickly because John McPherson wants the Forepersons contract to look like the Maintenance and Facility Workers' contract. We hope to also have their agreement through 2005 and will work to resolve the contract before the end of the year. Peter commended Patrick and various other Operation Staff members and noted that there were issues that were beyond our control, such as the change in the union representation, but it was a positive result overall. Chairman McGuire extended his congratulations as well on behalf as the entire Board. LEPFA Board of Commissioners Meeting Page 5 November 26, 2002 2. Lansing City Market: Peter reported that the October rental revenue was down by approximately $350 compared to last year. Occupancy was close to 80%, which was down slightly compared to last year, but is an increase over September 2000. Winter hours have been changed(for January, February and March). The Vendors Association voted to recommend a change in the winter hours and from a marketing perspective, it was felt that it is easier to change the hours rather than the days of operation. The winter Market hours will be 10:00 a.m. to 5:00 p.m. on Tuesday,Thursday, Friday and Saturday. Peter noted the vendors have recommended this, so we will try the change and evaluate it in the spring. In regard to advertising, we have five (5) billboards across town to keep the Market in mind during the holiday shopping season for wreaths, trees, holiday foods, etc. and feel this time of the year the billboards are more efficient and effective compared to television and radio. In regard to special events, the Market participated in "Silver Bells in the City" and while in comparison to last year overall attendance citywide was less, the Market was very busy. Santa, clowns, reindeer, free cookies and cider from Rasch Farms was offered as well as musical entertainment. Overall it was a good event for the Market despite the cold. 3. Oldsmobile Park: Peter reported the auditing process continues, and since the last Board meeting he, Patrick and Marian have met with Greg Rauch, the Lugnuts GM and Kim Hengesbach, the Lugnuts VP of Finance. Peter indicated that he feels more comfortable about the audit issues since the meeting because they walked us through an explanation of the 2001-2 season. We asked for additional information and they are in the process of providing that to us for additional review. We are also embarking on our 2002 season audit with them. Peter noted he will report on this issue as discussions continue and he will keep the Board abreast of any issues. In regard to Fright Night, it appears that we have exceeded last year's numbers, topping 7,000 in attendance over ten nights. We continue to analyze the financial data, but the initial results indicate a more favorable scenario compared to last year and this year we will be close to a break-even point. Overall we are happy with the result, since Haunted House attractions are on a nation-wide attendance decline. Peter noted the Marketing Department put together new promotions this year, including a Radio One broadcast - WMMQ did a nice promotion in conjunction with the Jaycees. The production values were very good and we received positive comments. Meetings are already scheduled for next year. 4. Lansing Center: We hosted approximately 62 events, for 80 event days, with approximately 14,500 attendees, for 447 room nights, for an approximate economic impact of $386,000. In comparison to the previous September we had 11 more event days; we were 4,500 ahead in attendance, down slightly in room nights and estimated economic impact; which once again indicates the difference in events, the attendees and their impact. LEPFA Board of Commissioners Meeting Page 6 November 26, 2002 • Sales Update: We have issued multiple contracts to Destiny's Team which is a grouped that approached us regarding booking multiple days (its an Amway type group) and as such we provided them with a package for six different events that utilize all the halls and each group will attract about 5,500 people. Camtray Innovations, which is the result of a CVB lead, is booking with us. Triton Industries will be in Hall B in August, and this is the group previously discussed and is the one which will sell pontoon boats. Multiple contracts have been issued to the Michigan Department of Transportation Aeronautics Association Management Resources for the Great Lakes International Aviation Conference for 2004-6, which came to us from the CVB. A contract has been issued for January 1 for the Jennifer Granhom Inaugural Reception in the ballrooms, pub, and 203-5 rooms and she will host a meet and greet as well. The Michigan Works Assisted Technology conference is returning in May. The Spartan Marching Band will be returning to the Lansing Center for a banquet in early February. Last year we hosted 12 holiday parties which equated to rental revenue just over $5,000 and this year it appears we will have 13 events for revenues in excess of $5,300 and will include the Mayor's Office, Sparrow Health Systems, Bio Port Systems, Sohn Linen, Summit Contractors, the City of Lansing, the Health Department, Westdale Better Homes, Mt. Zion Church, Corecomm, Efficiency Productions, Innovation Solutions, Michigan Equities and Lane's New Year's celebration. • Event Highlights: During the past month we have hosted the following groups: Blue Care Employee meeting for 600 in October; Michigan Arts in Education which utilizes all space and is on a three year rotation, over 1,000 people attend this three-day event. Show Stoppers attracted 300 dancers who participated in workshops; United Methodist Church; Hearts at Home was here for the third year and they attracted 2,200 women/stay at home moms; Fake the Funk Afterparty attracted 5,000 people; Chonda Pierce Comedy Show took place for the second year; Michigan Greenhouse Growers was in house as well as the MSU/Big Ten Women's Soccer Championship brunch; MEA; State Employee's Credit Union which was held on Veteran's Day and was a first time event that is plans to return annually on Veteran's Day; the YMCA; the Diocese of Lansing — Youth Jamboree; MSU Greek Excellence Award Dinner; Silver Bells; St. John's Student Parish; Rotary and one wedding. Festival of Trees begins this week and opens tomorrow(through Sunday) and we will host the silent auction on Saturday night. At 8:43 a.m. Jim Smiertka entered the meeting. • Upcoming Events: Shipshewana on the Road is scheduled for early December as well as the "Just Catn' Around" cat show; and Jennifer Granholm's inaugural celebration on January 1. 5. LEPFA Insurance: Peter reported that he has been in contact with another individual who maybe able to assist us, and is speaking with the supervisor's of the underwriters of our insurance in Chicago and Detroit. He will keep the Board apprised of any developments. LEPFA Board of Commissioners Meeting Page 7 November 26, 2002 6. Fake the Funk: Peter noted that the Board may have heard of some of the issues that took place outside of the Lansing Center during the "Fake the Funk" afterparty, and in particular the arrest of one of MSU's football players. Peter explained that we had an extensive and comprehensive crowd control/security plan that was enacted with the promoter, security and the Lansing Police Department. There were no issues inside of the event, and we feel it was a good event, which we have hosted previously Peter has met with the administration, members of Council, area businesses, and the Chief of Police to review and evaluate the situation and they will make modifications moving forward, specifically scheduling the after party on a separate day from the annual step/talent show. 7. Common Ground: Linda noted beginning this Friday we will kick off the third annual promotion for the holiday sale of the common card at $50, which will be available at all Tickets Plus outlets, online and at the City Market. Linda noted during the first promotion we sold about$7,000 worth of tickets and for the second year we sold $25,000 worth of tickets and we anticipate having to put a limit on the number of tickets sold following this year, i.e. sell them on a first come/first served basis. Linda also indicated that we have partnered with four radio stations and two TV stations($70,000 worth of advertising) for advertising. D. LONG RANGE PLANNING COMMITTEE: Chairman Janssen noted that he had no report. Peter Sullivan reported that we are working with the consultant regarding potential financial strategies for expansion and continue to move forward on potential ways of financing and expansion. VII. COMMISSIONER AND STAFF COMMENTS: 1. Commissioner Janssen: Commissioner Janssen requested a budget update. Peter reported that he and Marian meet weekly and we are holding steady with last year, although through September we are higher than last year but we are holding our own with last year. We continue to monitor key revenue/expense items, i.e. rent, utilities, insurance and food and beverage expense. 2. Commissioner James Butler: Commissioner Butler asked why we received the audit in November versus earlier the year? Marian noted it was because of the movement in the Finance Department and it took longer because we were short staffed. Peter noted the process is that there is the initial draft of the audit and minor changes are made, then the final draft goes to the Finance Committee and then to the full Board for approval. The goal is to have the report in August and begin the process. Commissioner Butler noted the Personnel Committee would benefit having the audit on hand for the review process and before decisions are made. Marian noted we did have a draft report, however the final report would not be generated any earlier. Marian noted that the City needs a copy of the report for their audit and we forward a draft copy by October. Peter noted in seven years there have been very minor modifications from the draft to the final copy. LEPFA Board of Commissioners Meeting Page 8 November 26, 2002 In regard to "Fake the Funk," Commissioner Butler noted he had the opportunity to discuss the circumstances with several people within and around the City, and the comments made were that the Lansing Center and their personnel did every thing that they could to deal with the situation in a very professional manner. He noted he also talked to Willard Walker from the City's Department of Community Relations, who noted good conversations as well. 3. Commissioner Sharon Peters: Commissioner Peters commended the Finance Department, in particular Marian and Charlie, on good clean audit. Commissioner Peters noted the clean audit is important for the Board's role as stewards of the fund, especially in light of the staffing concerns, and she noted that she is appreciative of a good clean strong audit. Marian updated the Board on the status of the Finance Department's hiring process. 4. Bob Swanson: Mr. Swanson noted that it would serve the Board to know as they begin preparation for the budget for next year, that it appears that the state will have a$500 million shortage and an order from the Governor that will reduced appropriations to handle budget matters it expected. It appears that there will be a 5% reduction in revenue sharing, which is on top of the current amount of 10%, and Lansing's share will be about$1.2 million. He noted that the first go around was between revenue sharing and the early retirees (with a disproportionate number living and working in Lansing) and as a result of that in September the Mayor imposed a hiring freeze, reduced operating budgets by 6% and deferred some capital projects. He noted he is not sure what will happen next week, but there will be some actions taken. It appears that the State is facing a$1.8-$2 billion deficit in 2004 if the current programs continue without increases. Mr. Swanson explained that the State revenue is down due to the economy and tax cuts. In 2002 the state revenues were$1.5 billion below what they were two years ago. The new Governor presents a new budget the first week of March and it is expected that local governments will be hit again. Swanson noted that they have asked City Departments to present budgets to the Mayor with zero increases. Commissioner Butler commented that in light of the rainy day fund, how did the State get to this point? Bob clarified that the state in the last two years has continued to run programs by using over$4 billion in one time sources money. Editorially Bob noted term limits might have also contributed the loss of funds. VIII. OLD BUSINESS: No report. IX. NEW BUSINESS: 1. Personnel.Committee Report: At 9:07 a.m. Peter Sullivan, Marian Bryant, Bill Grove, Linda Frederick son, Heidi Brown and Patrick Talty exited the meeting. Personnel Committee Chairman James Butler discussed the President and CEO's performance evaluation summary as submitted and recommended by the Personnel Committee. Following discussion, it was moved by Commissioner Butler that, "The recommendations of Personnel Committee be accepted as presented with a 3% salary increase and 20% bonus for the President and CEO." Second: Commissioner McGuire, the motion unanimously carried. LEPFA Board of Commissioners Meeting Page 9 November 26, 2002 At 9:50 a.m. it was moved that the meeting be adjourned. Motion: Commissioner Sinadinos Second: Commissioner Janssen motion carried. THE NEXT MONTHLY MEETING IS SCHEDULED FOR TUESDAY, DECEMBER 17 AT 8:00 A.M. AT THE LANSING CENTER IN THE GOVERNOR'S ROOM. Respectfully submitted, Heidi K. Brown, Recording Secretary LANSING ENTERTAINMENT AND PUBLIC FACILITIES AUTHORITY BOARD OF COMMISSIONERS MEETING DECEMBER 17, 2002 MINUTES At 8:05 a.m.' Chairman Cyril McGuire called the meeting to order in the Governor's Room of the Lansing Center; 333 E. Michigan Avenue; Lansing, Michigan 48933. COMMISSIONERS PRESENT: Tim Haggart, Ellen Jeffries, Cyril McGuire, Charlotte Sinadinos, Bob Swanson (Ex-Officio), and Denise Wootton. COMMISSIONERS EXCUSED: James W. Butler III, Charles Janssen, Kate McNenly, Sharon Peters, and Dennis Sykes (Ex-Officio). OTHERS PRESENT: Heidi Brown, Marian Bryant, Linda Frederickson, William Grove,Peter Sullivan, and Patrick Talty - Lansing Entertainment and Public Facilities Authority. III. ESTABLISHMENT OF THE AGENDA: It was moved that the agenda be accepted as presented. MOTION: Commissioner Sinadinos SECOND: Commissioner Haggart IV. PUBLIC COMMENT: There was no public comment. V. APPROVAL OF THE MINUTES OF NOVEMBER 26, 2002: The minutes of November 26, 2002 were adopted as presented. MOTION: Commissioner Haggart SECOND: Commissioner Jeffries, motion carried. VI. REPORTS: A. CHAIRMAN'S REPORT: Chairman McGuire wished everyone the best and most prosperous of times and most healthy times. B. SECRETARY/TREASURER'S REPORT: Marian Bryant distributed the monthly financials at the meeting and Chairman Sinadinos reviewed them as follows: 1. Monthly Financials: Chair Sinadinos reviewed the following financial statements as approved by the Finance Committee for the period ending October 31, 2002: a. Lansing City Market: Building Rental for the current period is $4,670, which is less than last year's amount of$4,966; and for year to date Building Rental is at$20,211 compared to $20,626. Total Operating Revenues for the current period are $4,899 compared to$5,001 for the prior year and for year to date they are$20,568 compared to $20,766 for the prior year. Under Operating Expenses — Salaries and Wages are up due to three pay periods in October, 2002. For the current period the Salaries/Wages are $5,382 compared to $4,174 for the previous year and year to date the figure is $14,980 compared to $14,777 in 2001. Utilities for year to date are $11,562 compared to $11,390 for the previous year. LEPFA Board of Commissioners Meeting Page 2 December 17, 2002 Insurance/Bonding for year to date is $1,245 compared to $766 for last year. Total Operating Expenses for the current period are $10,720 compared to $9,997 for last year and year to date the figure is$39,751, which is less than the prior year's amount of$45,961. After adding in the City Contribution and Interest, the year to date figure is $15,443 compared to $14,807. At 8:10 a.m. Bill Grove and Bob Swanson entered the meeting. The Balance Sheet - Our Total Cash for the current year is $77,534 compared to $70,945 for the prior year. Our Accounts Receivable, which includes the loan to the Lansing Center, is $89,469 for the current year compared to $50,707 for the prior year. Unreserved Equity is $173,785 compared to $144,211 for the prior year. Under Budget versus Actual, the Building Rental was better than budget by$238 and for year to date it was better than budget by $2,268. Total Operating Revenue for year to date at $20,568 compared to the budgeted amount of$21,053, which is less than budget by ($484). Chair Sinadinos noted the Parking Revenue has not been received, which impacts the figures. Under Operating Expenses, Salaries/Wages are over budget by ($890) for the current period and for year to date they are better than budget by $2,673. Utilities for the current period are over budget by ($211) and for year to date they are over budget by ($1,562). Insurance/Bonding for year to date is over budget by $561. Total Operating Expenses for the current period are $10,720 compared to the budgeted amount of$11,988, which is better than budget by $1,267 for the current period. For Year to Date our expenses were $39,751 compared to the budgeted amount of$46,702, which leaves us better than budget by $6,950. After adding in the City Contribution and the variance for Interest we are$6,466 better than budget. b. Oldsmobile Park: The Event Revenues for the current period are $33,628 and are attributed to Fright Night. Expenses for the event were $27,172 for an income of $6,455, which will be applied to the Event Development Fund. Chair Sinadinos noted that there could be further expenses next month in conjunction with Fright Night. Under Operating Expenses-Salaries/Wages were$4,892 compared to$4,797 for the prior year and for year to date the amount is $17,646 compared to $17,915 for the prior year. Utilities for year to date are $16,940 which is less than the prior year's $17,901. Insurance/Bonding for year to date is$21,201 compared to $11,866 for the prior year. Total Operating Expenses for the current period are$15,795, which is less than the prior year's$19,520 and year to date the Expenses are $80,000 compared to the prior year's amount of$80,276. Total Cash is$247,183, which is up compared to the prior year's amount of$227,592. The Net Development Fund for the current year is $53,211 compared to $52,411. Unreserved Equity is $101,392 for the current year and was $102,276 for the prior year. LEPFA Board of Commissioners Meeting Page 3 December 17, 2002 Under Budget versus Actual, Salaries/Wages for year to date were better than budget by $2,526. Utilities are better than budget by $2,339 for year to date. Insurance is higher than budget by($10,053). Total Operating Expenses for the current period has a variance better than budget by $3,473 and for year to date the variance was better than budget by$5,033. After adding in the Interest, and the City Contribution, we are better than budget by $4,139. c. Lansing Center: Chairman Sinadinos noted that this was a record-breaking month. Building Rental for the current period is$111,285 compared to$123,671 for the prior year and for year to date the figure is $264,791, which exceeds last year's amount of $257,691 by $7,100. Chairman Sinadinos congratulated Food and Beverage on a phenomenal month and noted that the Food and Beverage Revenue for the current period is$402,848 compared to$326,678 for the prior year and the year to date figure is $936,167 compared to the prior year's amount of $816,249, for a variance of $119,000. Equipment Rental was also a record breaker at $108,226 compared to $64,905 for last year, and for year to date the figure is $199,615 compared to $137,055, which is up by $60,000. Tradeshow Utilities for year to date are$33,332 compared to$25,950 for the prior year. The record Total Operating Revenues for the current period are $651,514 compared to $562,330 for last year and year to date the Total Operating Revenues are$1,504,299 compared to$1,315,902 for the prior year. Under Operating Expenses-Chairman Sinadinos reminded everyone that there were three pay periods in October, and for the current period the amount was $172,552 compared to $126,254 and for year to date the figure is $512,051 compared to $447,345. Fringes/Related costs are up as well for year to date at$49,862 compared to $42,649 for the prior year and for year to date the figure is$164,550 compared to $156,0007. Utilities for year to date are $197,160 compared to the prior year's $189,114 which is up $7,700. Insurance/Bonding is up for year to date at $47,395 compared to $27,181 for last year. Total Operating expenses for the current period are $547,315 compared to $470,088 and for year to date the figure is $1,740,000 compared to $1,538,113. After adding in the City Contribution and Interest we have $135,327 for a year to date loss of($36,164). Totaling together Cash and Restricted Assets for the current year we have $166,078 compared to the prior year's amount of $287,000. Accounts Receivable are up at $778,015 compared to the prior year's amount of$579,378. Accounts Payable, which includes the City Market loan, is $309,359 compared to $220,912 for the prior year. Under Liabilities - Unearned Revenue/Advanced Rent for the current year is $292,862 compared to the prior year's $270,159. Unreserved Equity for the current year is $488,719 compared to $589,856 for the prior year. Under Budget versus Actual, the Building Rental for the current period was less than budget by ($13,566) and year to date it was also less than budget by ($5,502). Food and Beverage for the current period is better than budget at $96,448 and for year to date we are better than budget by $111,066. Equipment Rental was better than budget for year to date by $83,751. Total Operating Revenues for the current period are $651,514 compared to the budgeted amount of$513,154, which is better than budget for the current period at $138,360. For year to date the revenues are $1,504,000 compared the budgeted amount of$1,301,019 for a variance better LEPFA Board of Commissioners Meeting Page 4 December 17, 2002 than budget of$203,280. Under Operating Expenses— Salaries/Wages are better than budget for year to date by $31,351. Chairman Sinadinos noted that the Professional Services, due to the vacancies (and use of temps) in the Finance Department, is higher than budget by ($5,182). Utilities were more than budget for year to date by ($8,844). Insurance/Bonding was higher than budget by($19,199), and year to date the expenses are at$1,740,000 compared to the budgeted amount of$1,655,000, which is more than budget by ($84,395). After adding in the City Contribution and Interest, we have a variance better than budget by $113,225. Peter noted revenue for the month was $651,514 and we gage a "good month" by the amount of$500,000 and the previous record was $598,000, thus we are pleased with this month's amount of$651,000 and attribute it to the record month for Food and Beverage and Equipment Rental. He noted that while we are pleased about October, he feels that this year will be a "roller coaster ride" in terms of the budget and it appears that November will be close to budget and the month of December may be down slightly. Chairman Sinadinos moved that the monthly financials for Oldsmobile Park, the Lansing City Market and the Lansing Center for the period ending October 31, 2002 be received as published, and further that the monthly expenses for each entity be approved. Motion: Sinadinos Support: Haggart, motion carried. 2. LEPFA Thrift Plan: Chairman Sinadinos noted that the Thrift Plan was discussed in detail at the Finance Committee meeting and the Committee will recommend approval following Marian Bryant's presentation. Marian noted a memo and a summary of the proposed changes were mailed to the Board members as outlined by our benefits consultants at Foster, Swift, Collins & Smith, and as reviewed by the City Attorney's office. Marian noted that the plans were established in lieu of a social security contribution, and currently the Authority provides a savings plan in which an employee is required to contribute a minimum of 7% and a thrift plan to which the employer contributes 12%. The plans were set up in 1987, and as of December 31, 2002 the IRS requires that the plans be restated and updated based on the IRS recommendations. Upon Board approval, they will be submitted/filed by December 31. The changes were reviewed as follows: • The mandatory contribution in the Savings Plan will become a feature of the Thrift Plan, and with new IRS regulations the contribution will be 7.5% versus 7%. In addition to the employer's 12%, the maximum contribution to the Thrift Plan in 2003 will be $35,000. The Savings Plan will then become a voluntary vehicle that anyone can contribute pre-tax dollars. Currently there is no other option for contributing pre-tax dollars for employees other than the savings plan maximum of$11,000. The new regulations allow for a $11,000 maximum or $12,000 if you are 50 or over. • There will also be language in the plan to allow it to become participant directed, which will allow the participant to decide how to invest their monies if it were agreed to by the VP of Finance and the President and CEO with notification to the Board. LEPFA Board of Commissioners Meeting Page 5 December 17, 2002 • The cash out feature was revised to $5,000 from $3,500 to help to avoid having employees leave and not making any dispensation of their funds. Marian noted Jim Smiertka has reviewed the plan and opened the discussion for questions. A motion was made by Commissioner Sinadinos to accept the revision of the LEPFA 457 Deferred Comp Plan and Defined Contribution. Commissioner Haggart seconded the motion and the motion was unanimously approved. C. PRESIDENT AND CEO'S REPORT: 1. Union Report: Patrick reported that since last month's meeting they have met three times with the Forepeople and are close to reaching an agreement. The Forepeople will vote within the next day or two and we hope to have a contract in place by December 31. Peter noted once the contract is signed a majority of the units will be resolved for the next three years. Bob Swanson questioned how many contracts are outstanding? Peter noted that the Stagehands contract has been outstanding since 1992, and the Food and Beverage employees' contract will be up in June, 2003 and we will endeavor to get that resolved before it expires. 2. Lansing City Market: Peter reported that the November rental revenue was down by approximately $660 compared to last year. Occupancy was close to 61%, which was down by 10% compared to last year, but is a 6% increase over November 2000. Discussions are underway with several new vendors for the fall and summer seasons. 3. Oldsmobile Park: Peter reported that the auditing process continues with the Lugnuts and we have requested the financial information covering 10-15 games from the 2001 season. Additionally we are in the process of setting up the audit for the 2002 season. In regard to Fright Night, it appears that we will make money this year as opposed to losing money in the previous years. 4. Lansing Center: During the month of October we hosted approximately 54 events, equating to 71 event days, with approximately 19,000 attendees, for 2,300 room nights, for an approximate economic impact of$972,000. In comparison to October 2001, we are down 14 event days; room rental and attendance were down, room nights were up by about 1,000 and estimated economic impact was up by over $230,000; which once again indicates the difference in events, the attendees and their impact. • Sales Update: We have added Halls A & B for the Granholm Inauguration. The address will follow her swearing in at the Capitol and will be broadcast via satellite and there will be a punch reception in the Ballrooms 1-8 and the pub, as well as a private legislative lunch in Rooms 203-5. Aretha Franklin may be performing as well, but this hasn't been confirmed. Spartan Stores will return with their fall dry goods show in November 2003 and will bring their spring and fall 2004 shows back to Lansing and we are happy to have them back. We recently held a site tour for the State Bar of Michigan and it appears that they will condense their meetings to one a year and we are hopeful that they will select Lansing as their site. LEPFA Board of Commissioners Meeting Page 6 December 17, 2002 A draft copy of a contract for Wally Byum has been delivered to the CVB, which request a 10-15% deposit one year out. • Confirmed/Repeat Business: A contract has been issued for a new show called the "Great Lakes Rustic D6cor Crafts and Sports" for October, 2003. Potential new business includes a meeting for Wendy's International that includes a breakfast and lunch for about 450 people in May. Everett High School is also hosting a "Game of Life Conference" in May, 2003 for about 600 attendees. • Event Highlights: During the past month we have hosted the following groups: In November we hosted a holiday variety show hosted by Caldwell Bankers/Hubbell Real Estate, which was held in conjunction with the Festival of Trees and was a fundraiser for St. Vincent's. November 27-December 1 Festival of Trees was in house and they celebrated their twentieth year with over 90 trees and thirty ginger bread houses. December 3 we hosted the CVB Client Lunch for about 200 people. Shipshewana on the Road was in house on December 7-8 and their exhibit space sold out, but their attendance was down. The Michigan Department of the Attorney General held their annual luncheon in Ballrooms 1-6. December 14-15 we hosted the "Just Cat'n Around" cat show in Hall B with approximately 900 people attending the event. Holiday parties during the month of December include the Mayor's Holiday Party, the Philippine American Club, Lane New Years Party, City of Lansing Finance Department, Corecomm, Michigan Equities, Westdale Better Homes, Sexton High School, Sparrow Hospital, Sohn Linen, Mt. Zion Baptist Church, Efficiency Productions, Bioport, Summit Contractors, TDS Metrocom, Rotary Club of Lansing and Innovative IT Solutions. The Lions Den Church continues to meet every Sunday in the Governor's Room. • Upcoming Events: January 1 Jennifer Granholm Inauguration, January 4 After Hours Bridal Show, January 6-8 Michigan Nursery and Landscape Association, January 10-12 WLNS Boat Show, January 11 Spartacon, January 13-15 Michigan Agri-Business Association, January 19 Lett's Bridal Show, January 20 Dr. Martin Luther King Jr. Luncheon and January 23-26 the Michigan Veterinarian Conference. 5. LEPFA Insurance: Peter reported that insurance is a big budgetary issue for the Lansing Center and Oldsmobile Park(for four months we are$19,000 over budget). He noted that he and Marian continue to work with Doug Rubley, who is working with Hartford and A.G. Gallagher and there appears to be some movement. 6. Common Ground: Peter reported that we continue to meet with our sponsors and the feedback continues to be positive and the process is on going. Currently we are in the midst of the holiday promotion, until the close of business on December 31. The cost is $50, which is a$15 discount and can be purchased on line at Tickets Plus, through Meijer or at the City Market. Linda noted we are working with Maverick Productions (who maintain our web site) on an ad whereby they sent 900 emails to our web base to promote the holiday sale and they will be sending approximately 500 more on Wednesday. Linda noted the electronic marketing is a new marketing strategy. Liza Estlund Olson is also sending the holiday promotion through the City email system. LEPFA Board of Commissioners Meeting Page 7 December 17, 2002 Potential new elements for Common Ground include a nightly suite (similar to a double deck sky box)which will be packaged and sold and will be located at the West Main Stage for approximately$3,000 per night. We are also considering an "Uncommon Club" area that will be close to the Main Stage on the west end, whereby if you become a member you get a week long pass for the six days and will have your own entrance, preferred parking, food and beverage discounts, etc. We hope to sell 50 club memberships at a cost of$225-$250. We are also working on a soccer tournament and have a meeting with Bob Moore today regarding a tournament. We have also discussed the tournament with Murdock Jemerson, who has been helpful. Our goal is to run a tournament over the weekend of Common Ground at the Hope Soccer Complex, with the winners being announced at Common Ground at the West Main Stage. The goal is to use the complex for two days and we hope to start out small, which will allow us a broad approach to securing additional sponsors similar to the four on four tournament in DeWitt in conjunction with the Ox Roast. We have forged a good relationship with Sergio Keck who is the head of the Lansing Soccer Club and we hope they will run and manage the tournament. 6. LEPFA Holiday Parties: The Employee Party was held yesterday with lunch served here at the Lansing Center and bowling at Holiday Lanes. The Board Holiday Party is this evening at 5:30 p.m. and Peter wished the Board a safe, happy holiday season and a good New Year. D. PERSONNEL COMMITTEE: No report. E. LONG RANGE PLANNING COMMITTEE: Peter reported that he and Patrick spoke with the consultant on the phone yesterday(and will again today)to discuss financing alternatives report and we continue to hone that process via the phone with the consultant. The consultant will be in town tomorrow and we hope to see a final draft in January. VII. COMMISSIONER AND STAFF COMMENTS: 1. Commissioner Sinadinos: Commissioner Sinadinos noted she stopped by the Summit Contractors holiday party here at the Lansing Center in the Governor's Room and the food looked wonderful and they were very happy (her brother's holiday party). 2. Commissioner Tim Haggart: Commissioner Haggart extended happy holiday greetings. 3. Bob Swanson: Mr. Swanson noted that he has been to two parties in the Governor's Room this year and the food was terrific (he was here was here for the Mayor's party and his staff's party) and everyone had a great time at the Finance Department's party as well. 4. Commissioner Ellen Jeffries: Commissioner Jeffries commended everyone on a great October and wished everyone happy holidays as well. 5. Chairman Cyril McGuire: Chairman McGuire noted that he attended the Festival of Trees Silent Auction and reported that the Lansing Center looked fabulous, the food was delicious, and he was proud of the staff and their professionalism. LEPFA Board of Commissioners Meeting Page 8 December 17, 2002 VIII. OLD BUSINESS: No report. IX. NEW BUSINESS: No report. At 9:04 a.m. it was moved that the meeting be adjourned. Motion: Cormnissioner Haggart Second: Commissioner Sinadinos, the motion carried. THE NEXT MONTHLY MEETING IS SCHEDULED FOR TUESDAY,JANUARY 28,2003 AT 8:00 A.M. AT THE LANSING CENTER IN ROOM 202. Respectfully submitted, Heidi K. Brown, Recording Secretary C:\Heidi\Board\Board MinutesDec02.doc