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09-22-14 Discovery Center Feasibility Study IP , ., 2 .-�- 4. . ., ,:' *.p.S.,. �� A . x :. a.°LPL.. "`wVc:. A,.. . •1�.. _ � K. . r 4 , 7 .. ,...- It' , ' ,...---..i .). --)4111[113.: .,-; • $ , .,* 1,. ,„..,,,,,,:..,,,,,,,..:i , ,:,::,4:„,, ,, .1: ''''.11:,, „.* . '''' x g . • x A u: _ .„, ,,; SNOWMASS DISCOVERY : FEASIBILITY STUDY REPORT Town Council Presentation ----.....c) Ilh ...-----T..... 22 September 2014 _ w M rI Amaze Design • Barrie Projects • Algonquin Advisors 4 1 . A. Purpose of this Study Building on the conceptual work done previously with Tusk o Force I and II, along with the John W. McCarter report z n completed in Januaryof 2014, to examine economic and p market metrics to determine what, if any, Snowmass r- -0 Discovery experience is feasible. To make recommendations regarding a conceptual plan that fits within the feasibility metrics. tr‘p q 'x4 4 11 Amaze Design • Barrie Projects • Algonquin Advisors 2 's CV�P O Overarching Questions What is Snowmass Discovery? • Is Snowmass Discovery a place, a program, an idea or all three? 0 • Is Snowmass Discovery primarily an edutainment enterprise? • Is Snowmass Discovery mission driven or economically driven? Z C7 Location and Physical Presence O y C • If it's a place, what criteria can convincingly settle the location debate? Z n • If it's a program, can it be successful with only limited access to Ziegler Reservoir? • If it's an idea, what partnerships will best extend the idea? z. 73 Challenges to Re-Branding v) M • Snowmass is a planned skiing community. Is it feasible to expand the brand to include Z science education? —I D Who Will Come / Economic Impact 0 • Will Snowmass Discovery attract new visitors or extend stay times of existing visitors? Z ,relriv,‘„coNft,, # rc O 'k Amaze Design • Barrie Projects • Algonquin Advisors 3 is C p V ,P of overview .. worked perform Stakeholder Interviews • Our team conducted in-person or telephone interviews with key stakeholders and other interested parties in order to gain a perspective on the community's interest in pursuing the development of a Museum devoted to the paleological findings in Snowmass Colorado. These interviews include Snowmass and other public officials, the O Mayor, and members of City Council, members of the Snowmass Dig Team, individuals involved with the findings at Snowmass, and community leaders. z r) Review of Comparable Museums Both Locally and Nationally 4 • We have researched and reviewed the capital budgets, square footage, building programs, attendance, and operating budgets of various museums that we believe have bearing on the development of the Snowmass Discovery Center. These museums include Dinosaur Ridge, Dinosaur Museum Depot, and Wyoming Dinosaur Center—as well as other r museums of similar subject. In many cases we have spoken to administrative staff for their insight. Site Reviews • Over the last five months, we have surveyed members of the real estate community, developers, Snowmass r'rl Discovery Center staff, Snowmass officials, and others as to the best locations for the proposed museums. Using their Z recommendations as a starting point, our team members conducted site reviews of multiple locations in the various areas of Snowmass. The prospective site have been reduced to three based on location, appropriate size, accessibility, cost, and impact on community development. O z Preliminary Capital and Operational Budget • Based on our experience with similar sized museums and their development costs, our understanding of the potential audience for such museum, possible sources of revenue, and critical factors that will determine operational costs, we have put together preliminary budgets for development, construction and operation.The operational o M budget also provides a break-even analysis. e� 4 yea 4 Amaze Design • Barrie Projects •Algonquin Advisors 4 �42- Recommendations 1. Establish an indoor venue located in Base Village featuring a signature O orientation film, interactive exhibits and educational programs; z 2. Create a series of outdoor observation platforms along Dawdler and n O Sam's Knob trails that will serve as a base for two-hour on-mountain C z facilitated programs overlooking Ziegler Reservoir; r) r 3. Create an interpretive trail leading to an observation area at the rn southeast rim of Ziegler Reservoir as a location for a naturalist-led rn interpretive talks, subject to frequency and quantity to be approved by -1 the surrounding landowners. lb: , ,, • zqP .� k Amaze Design • Barrie Projects • Algonquin Advisors 5 Ops C o (�+ Visitor Experience Visitor Experience Diagrams tndrorfxperrences _ -- s ,+ 0 � E#acksd�ausa r 5d1 SF r r� Y' - r Admin UC tica$ Z 2.750 SF Facility Atttractian EfSRamot a L000 SF 'r. .\, `4 .... r , i Tiebinm t brand®d Retail e'`'r r f r 2"50 SF �' I z r) }rr- f— , % + tk+scvvar Tl a 1Rntr c �/ faad Beverage Back of House rr 1010 SF MI SF 4concession Swags n admit agts M 7.5t1 SF Facility Attraction ExtritiA MO SF D H r,..'. 0 r' `a Brandr:f Fleoihlq�Educatinn,'Evant a wilier.,4 1$ Laid SDI F 16411 SF z c T1rk+te) , r Outdoor£xpertences Ziegler Ice Age Interpretive Trail -South Rim tGservation eriiW 1Bewdler,�'Sam's Knob Ice Age Eco Program yams KrvntaDtiservatirxt '► s Burlingame Dbsetvation?Event -Dawdler liberation • _.Li Amaze Design • Barrie Projects •Algonquin Advisors 6 is C O V*• , I Interpretive Trail Location Plan '4'TiiiiiiiiiiPs y rt '. I bti cZ , sO " 5 ' _ Burlingame cabin w:. r ,. &retention pond ,. ,. 0 t '� C ;. Z _ - Forest edge above " - --4. Dawdler ski run - InterpretiveTrail I _ << ' e er Parking Vif Yi, , Viewing Station • d ,;_ e t _ - 1 ,,S .. • , , Ziegler Lake H �r z r ,. r' Q sf t t v iw,' t4 3 � ,, , ee Mall/ r ` z i ti te t . . . ... � 'y, lb --,... i., ; ! _ - . Base Village • , " („..(1(.)* Parc h ,!"" :4 c.ouyic `. p VY /61 a l 4 S , 40, O Amaze Design • Barrie Projects • Algonquin Advisors 7 ps EQ cpV Site Recommendation Criteria 1. Centrality and convenience of location. —I 2. Existing building stock and available space. 3. Room for expansion. z 4. Ample parking and access to inter-nodal transport. n O 5. Access to complementary partners. C z (-) Ample Parking/ r Centrality and Existing Building Access to Access to .70 Convenience of Stock with Room for Internodal Complimentary 77 LOCATION Location Available Space Expansion Transport Partners rn () TOWN PARK/ ENTRYWAY Not Good Not Good Good Good Not Good rn Z IINSININNIMIN H TOWN CENTER Good Not Good Not Good Good Not Good agialr CD BASE VILLAGE Best Best Best Best Best Z THE MALL/ UPPER VILLAGE Good Good Not Good Good Good SOW OWM q IfrV, O Amaze Design • Barrie Projects • Algonquin Advisors 8 ps 1- C p V Base Village Location Plan o if\ \° CD z CnrN17 F*!t F#�us! ;OlrAtf ,:37 Futu.e rJ nttr4Sppn f Curresuk Parknq .,." O CZ 4/ Now c r •a, , I +' .,:r ' xn zE it.4 n T Viiiray inLMYrrk13 •11 -r , " 1 1111111.11. Z -Mk —) D Potsibk Discovery Center location —'I 0 z OW M,9 ha s 4 0r Amaze Design • Barrie Projects • Algonquin Advisors 9 �,4. O E Notional Rendering of Plaza Entrance _ .,�, - 144 0 Itir -, z o _ - c Iii irk Z Alt& ripii 7 70 . •w ;' III .111 -1111 ' - , .. .. " 11111 77 SNOWMASS DISCOVERY U' (m i m , • z ._ N. H I 7 A H I z fr, a"ii, rpWM q s 4 y? s WO :1 O Amaze Design • Barrie Projects •Algonquin Advisors 10 's c o EQ Population & Capture Rates Resident: 2012 U.S Census Est Capture Rates Guest Attendance Village of Snowmass 2,844 3.00% 7.00% 85 199 Remainder of Piktin County 14,419 1.50% 3.00% 216 433 Surrounding Counties of Pitkin County* 297,638 1.00% 2.00% 2,976 5,953 z Surrounding Counties of Pitkin County (Extended)** 118,891 0.50% 1.00% 594 1,189 n 0 C Total MSA 433,792 3,872 7,773 z n Tourists: Estimated r Snowmass Unique Skiers & Summer Visitors (Estimated) 205,000 3.00% 7.00% 6,150 14,350 -10 rn Apsen, Highland & Buttermilk Estimated Unique Skiers 161,000 3.00% 5.00% 4,830 8,050 (1) rn Non-Skiers to Area (Estimate) 150,000 3.00% 5.00% 4,500 7,500 Z Total 516,000 15,480 29,900 D 0 Totals 19,352 37,673 z % Residents 25% 21% %Tourists 75% 79% Stabilized Estimate = 35,000 * ow M Includes: Eagle County, Lake County, Chaffe County, Gunnison County, Mesa County, & Garfield County # 4 4 N **Includes: Rio Blanco County, Grand County, Summit County, Park County, & Delta County `P Amaze Design • Barrie Projects •Algonquin Advisors 11 es c o �Q'; Development Components 2,750 S.F. 7,500 S.F. FEATURE FACILITY FACILITY --i O c ATTRACTION EXHIBIT 2,000 4,000 z n O OUTDOOR ENVIRONMENTAL EXPERIENCE N/A N/A C z n FOOD & BEVERAGE (PARTNER CONCESSION) 250 1,000 I rn V) RETAIL N/A 500 rn Z FLEXIBLE / EDUCATION / EVENT SPACE N/A 1,000 . n z BACK OF HOUSE / OTHER 500 1,000 iifillgingl TOTAL 2,750 S.F. 7,500 S.F. riN.°w At,4 Amaze Design • Barrie Projects • Algonquin Advisors 12 is C° t. Development Costs , 2,750 S.F. 7,500 S.F. FEATURE FACILITY FACILITY ATTRACTION EXHIBIT 1,200,000 2,400,000 5 ' OUTDOOR ENVIRONMENTAL EXPERIENCE 1,000,000 1,000,000 z z n FOOD & BEVERAGE (PARTNER CONCESSION) - 350,000 0 .. .; C RETAIL 87,500 175000 z. C7 FLEXIBLE / EDUCATION / EVENT SPACE - 100,000 - 70 rn BACK OF HOUSE / OTHER 50000 100,000 V) rn z CORE & SHELL FIT-OUT 206,250 562,500 D H CONTINGENCY 254,375 468,750 0 z EXTERIOR SIGNAGE / LIGHTING / IT SYSTEMS 150,000 150,000 PRE-OPENING EXPENSES 250,000 250,000 O W M l I Vp . TOTAL v$ 3,198,125 r$ 5,556,250 h , Amaze Design • Barrie Projects •Algonquin Advisors 13 O�s C O V*. Revenue Assumptions: 35,000 annual attendance 2,750 S.F. 7,500 S.F. 5 REVENUE SOURCE FACILITY FACILITY C*.0 C Z TICKETED ADMISSIONS ($6 pp / $9 pp) 210,000 315,000 C7 AI oWNPsigaiwit 0 GUIDED TOURS ($16 pp) 224,000 224,000 C z n RETAIL ($5 pp) 175000 175,000 r A 1 'v FOOD & BEVERAGE (PARTNER CONCESSION) - 35,000 m didElia, Mir m SPECIAL EVENTS F & B (PARTNER CONCESSION) - 20,000 z , _, INUMMEMPIIIIIIIP 1111111r D SPECIAL EVENTS 60,000 60000 5 z TOTAL F$ 669,000 '$ 829,000 OWM s` cor‘ O �` Amaze Design • Barrie Projects • Algonquin Advisors 14 14'C o v Operating Expenses 2,750 S.F. 7,500 S.F. EXPENSE FACILITY FACILITY SALARIES, WAGES & BENEFITS 415,155 537,010 . GENERAL & ADMINISTRATIVE 33,450 41,450 Z n MARKETING 53,520 66,320 0 r e.. C imiimilimiliaiiiimiimilimismarniimais Z UTILITIES 13,750 37,500 n 0101111110111. r- INSURANCE 33,450 41,450 7,1 r .,. mn FACILITY (CLEANING, HVAC, ETC) 13,750 37,500 rn z REPAIRS & MAINTENANCE 20,070 24,870 I> D 400411111M11111.1.101MIM —1 PROFESSIONAL FEES 20,000 30,000 0 RENT - - CONTINGENCY 30,157 40,805 W a ?o q AIIIIIIIIIIIIIIIIIIIIIMIIOIIIIIIMIIMNIIIWIUO h s TOTAL vs 633,302 V$ 856,905 :.: , ,yy. Amaze Design • Barrie Projects • Algonquin Advisors 15 is c p V„a` Financial Summary 2,750 S.F. 7,500 S.F. FACILITY FACILITY TOTAL DEVELOPMENT COSTS 3,200,000 5,560,000 --1 0 ENDOWMENT 3,000,000 5,000,000 * 1 z TOTAL CAPITAL REQUIREMENT $ 6,200,000 ' $10,560,000 0 C YEAR 1 YEAR 3 Z 2,750 S.F. 7,500 S.F. 2,750 S.F. 7,500 S.F. n FACILITY FACILITY FACILITY FACILITY I— TOTAL EARNED REVENUE 669,000 829,000 778,694 1,057,262 77 M cn COST OF GOODS SOLDI 87,500 87,500 94,640 94,640 m z TOTAL OPERATING EXPENSES 633,302 856,905 682,903 948,290 gr NET EARNED INCOME (51,802) (115,405) 1,151 14,332 0 Z ENDOWMENT INCOME (4% of$3m / 4% of$5m) 120,000 200,000 120,000 200,000 II 411111110{. NET INCOME (LOSS) BEFORE FUNDRAISING $ 68,198 $ 84,595 $ 121,151 F $ 214,332 -ovii M ysx 4 4. 4. 0 0r A Amaze Design • Barrie Projects • Algonquin Advisors 16 esC a *. g IConclusions Strengths • A specific niche that will offer a unique set of experiences —. • Will leverage work of leading scientists through partnerships 0 • Can capitalize on increasing interest in environmental education * Has backing of key members of the community z • Will offer economic benefit to the surrounding area business 0 • Anchors community character with a remarkable story C z r) Considerations F • Will require strong, coordinated leadership from the Board, City and Area Businesses n to realize full potential rn • Operations are not likely to be self-sustaining, thus an endowment will be required rn • Successful negotiations with the landowners on the mountain and at the reservoir are —Zi necessary to implement the proposed outdoor programs D • Presumes discounted or free rent for facility j O z Next Steps • Develop timeline for fundraising and prepare professional fundraising strategy • Expand Snowmass Discovery working group • Begin negotiations with entities required for real estate and/or for access to land �o W Mqs h ,p Amaze Design • Barrie Projects • Algonquin Advisors 17 ,s *.Q' 4. 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