Historic Triangle Recreational Facilities Authority

City of Williamsburg Agenda Historic Triangle Recreational Facilities Authority Meeting Wednesday, September 11, 2024 @ 3:00 PM 412 N. Boundary Street, Williamsburg, VA 23185 Page 1. CALL TO ORDER 2. ROLL CALL 3. APPROVAL OF MINUTES 4. BOARD MEMBER ANNOUNCEMENTS 5. REPORTS 5.1. Financial Report 2-5 Financial Report - FY25 August 2024 5.2. Executive Director's Report 5.3. WSEC Operator Report 6 - 12 HTRFA Operators Report 5.4. Construction Report 13 HTRFA Construction Report 5.5. Legal report 6. OPEN FORUM 7. CLOSED SESSION 8. PUBLIC HEARINGS 9. UNFINISHED BUSINESS 10. NEW BUSINESS 11. ADJOURNMENT Page 1 of 13  HISTORIC TRIANGLE RECREATIONAL FACILITIES AUTHORITY BALANCE SHEET AUGUST 31, 2024 FY 2025 FY 2025 FULL ACCT ACCT DESCRIPTION ORGINAL REVISED BUDGET BUDGET FY 2025 ACTUAL 007-00-0000-11001 -HTRFA CASH $ - $ - $ 13,364,463.70 007-00-0000-11002 -HTRFA CASH-PAYROLL - - - 007-00-0000-11015 BOND ESCROW CASH 24 SERIES 54,560,788.00 007-00-0000-13010 -ACCOUNTS RECEIVABLE - - - TOTAL ASSETS $ - $ - $ 67,925,251.70 007-00-0000-25001 -ACCOUNTS PAYABLE $ - $ - $ 104.00 007-00-0000-25060 -ACCRUED PAYROLL PAYABLE - - - 007-00-0000-27022 MEB ESCROW - - 453,245.85 TOTAL LIABILITIES - - 453,349.85 007-00-0000-39030 ASSIGNED F.B. - DEBT SERVICE $ 10,348,339.14 007-00-0000-39999 -UNASSINGED FUND BALANCE - - 57,123,562.71 TOTAL BALANCE $ - $ - $ 67,471,901.85 TOTAL LIABILITIES AND FUND BALANCE $ - $ - $ 67,925,251.70 Page 2 of 13 Page 1 of 4  HISTORIC TRIANGLE RECREATIONAL FACILITIES AUTHORITY STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE FOR MONTH ENDED AUGUST 31, 2024 FY 2025 FY 2025 FULL ACCT ACCT DESCRIPTION ORGINAL REVISED REMAINING BUDGET BUDGET FY 2025 ACTUAL ENCUMB BUDGET REVENUE 007-00-0400-44440 - MAINT. OF EFFORT - WILLIAMSBURG $ 586,274.00 $ 586,274.00 $ 586,273.12 $ - $ 0.88 007-00-0400-44441 DEBT SERVICE CTRB - WILLIAMSBURG 1,150,000.00 1,150,000.00 1,150,000.00 - 007-00-0400-44450 MAINT. OF EFFORT - JCC 542,302.00 542,302.00 542,302.64 - (0.64) 007-00-0400-44451 JCC OPERATING SUBSIDY 400,000.00 400,000.00 - 400,000.00 007-00-0400-44460 MAINT. OF EFFORT - YORK COUNTY 321,424.00 321,424.00 80,356.06 - 241,067.94 007-00-0400-44461 YORK COUNTY OPERATING SUBSIDY 400,000.00 400,000.00 - 400,000.00 007-00-0400-44465 - TOURISM ALLIANCE - - - - - 007-00-0400-44200 INTEREST INCOME 180,000.00 180,000.00 37,654.71 - 142,345.29 TOTAL REVENUE $ 3,580,000.00 $ 3,580,000.00 $ 2,396,586.53 $ - $ 1,183,413.47 OPERATING EXPENDITURES 007-00-0500-51001 - SALARIES & WAGES $ 160,000.00 $ 160,000.00 $ - $ - $ 160,000.00 007-00-0500-52001 - FICA 12,200.00 12,200.00 - - 12,200.00 007-00-0500-52002 - RETIREMENT-VRS 28,800.00 28,800.00 - - 28,800.00 007-00-0500-52005 - HOSPITALIZATION 16,000.00 16,000.00 - - 16,000.00 007-00-0500-52006 - GROUP LIFE INSURANCE 2,100.00 2,100.00 - - 2,100.00 007-00-0500-52016 - TRAINING - - - - - 007-00-0500-53002 - PROFESSIONAL SERVICES 24,500.00 24,500.00 - - 24,500.00 007-00-0500-530042- MAINTENANCE, BUILDINGS - - - - - 007-00-0500-530043- MAINTENANCE, OFFICE EQUIPMENT - - - - - 007-00-0500-53005B- OTHER LEGAL FEES 225,000.00 225,000.00 16,556.00 - 208,444.00 007-00-0500-53006 - PRINTING 500.00 500.00 - - 500.00 007-00-0500-55101 - ELECTRICITY 2,000.00 2,000.00 - - 2,000.00 Page 3 of 13 Page 2 of 4  HISTORIC TRIANGLE RECREATIONAL FACILITIES AUTHORITY STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE FOR MONTH ENDED AUGUST 31, 2024 FY 2025 FY 2025 FULL ACCT ACCT DESCRIPTION ORGINAL REVISED REMAINING BUDGET BUDGET FY 2025 ACTUAL ENCUMB BUDGET 007-00-0500-55102 - HEATING - - - - - 007-00-0500-55103 - UTILITIES WATER/SEWER - - - - - 007-00-0500-55201 - POSTAGE 200.00 200.00 - - 200.00 007-00-0500-55203 - TELECOMMUNICATION 2,100.00 2,100.00 - - 2,100.00 007-00-0500-55301 - INSURANCE - - 1,082.00 - (1,082.00) 007-00-0500-55410 - UNIFORMS & APPAREL - - - - - 007-00-0500-55413 - OTHER OPERATING SUPPLIES 3,000.00 3,000.00 15,035.43 - (12,035.43) 007-00-0500-55501 - TRAVEL -MILEAGE - - - - - 007-00-0500-55503 TRAVEL 2,000.00 2,000.00 - 2,000.00 007-00-0500-55801 - DUES & ASSOCIATION MEMBERSHIPS 500.00 500.00 - - 500.00 007-00-0500-55838 - PRINCIPAL PAYMENTS - - - - - 007-00-0500-55839 - INTEREST PAYMENTS - - - - - 007-00-0500-55840 - COST OF BOND ISSUANCE - - 1,381,548.08 - (1,381,548.08) 007-00-0500-55869 - CONTINGENCY 10,000.00 10,000.00 - - 10,000.00 007-00-0500-55872A BANK FEES 100.00 100.00 35.00 - 65.00 007-00-0500-58001 - LEASE/RENT OF EQUIPMENT - - - - - 007-00-0500-58003 - LEASE - LAND 220,000.00 220,000.00 - - 220,000.00 TOTAL OPERATING EXPENDITURES $ 709,000.00 $ 709,000.00 $ 1,414,256.51 $ - $ (705,256.51) CAPITAL EXPENDITURES 007-00-0505-67080 - 2019-INDOOR SPORTS COMPLEX $ 1,700,000.00 $ 1,700,000.00 $ 4,289,657.00 $ - $ (2,589,657.00) 007-00-505-67082 ENTERTAINMENT VENUE - - 63,028.00 - (63,028.00) TOTAL CAPITAL EXP $ 2,409,000.00 $ 2,409,000.00 $ 4,352,685.00 $ - $ (1,943,685.00) TOTAL OPERATING AND CAPITAL EXP $ 5,766,941.51 Page 4 of 13 Page 3 of 4  HISTORIC TRIANGLE RECREATIONAL FACILITIES AUTHORITY STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE FOR MONTH ENDED AUGUST 31, 2024 FY 2025 FY 2025 FULL ACCT ACCT DESCRIPTION ORGINAL REVISED REMAINING BUDGET BUDGET FY 2025 ACTUAL ENCUMB BUDGET OTHER FINANCING SOURCES (USES) 007-00-0500-59988 TRANSFER TO OPERATING RESERVE $ 800,000.00 $ 800,000.00 $ - $ - $ 800,000.00 007-00-0500-59989 TRANSFER TO CAPITAL RESERVE 371,000.00 371,000.00 - - 371,000.00 007-00-0400-44330 BOND PROCEEDS - - 63,985,000.00 - (63,985,000.00) 007-00-0400-44331 BOND PREMIUM - - 2,837,912.40 - (2,837,912.40) TOTAL OTHER FINANCING SOURCRES $ 1,171,000.00 $ 1,171,000.00 $ 66,822,912.40 $ - $ (65,651,912.40) NET CHANGE IN FUND BALANCE $ 63,452,557.42 FUND BALANCE BEGINNING 4,019,344.43 FUND BALANCE ENDING $ 67,471,901.85 Page 5 of 13 Page 4 of 4  WSEC Operator’s Report September 11, 2024 Williamsburg, VA Page 6 of 13  Contents • Marketing & Outreach • Programming & Events Report • Sponsorship and Partners • FF&E Report Page 7 of 13  Marketing & Outreach BRANDING: We are currently in development of the next draft of a visually appealing logo and key brand assets that reflect the sports complex, tell its story, and promote its unique offerings. This next draft will contain the following: • Logo Package • Primary and Secondary Colors • Visual Brand Language OUTREACH: • Create local relationships to leverage the already robust tourist market • Create monthly meetings with the following. • Visit Williamsburg • Hotel Motel Association of Williamsburg • Colonial Williamsburg Page 8 of 13  Programming & Events We are currently in the process of leveraging our local and national partnerships to begin to fill the sales funnel for programming and events. • Phenom Hoop (Visit Williamsburg) • Zero Gravity Basketball (3STEP) • Swarm Basketball (3STEP) As we enter the conference season for the sports and recreation industry, we have already started and will continue to attend key industry on behalf of the facility. Events. • CONNECT • TEAMS • NPRA • ICMA Page 9 of 13  Sponsorships and Partners POURING RIGHTS: Conducted initial conversations and a request for proposals from • Pepsi • Coke • Gatorade SPONSORSHIP PACKAGES: Began the development tiers of sponsorship, price points and package development to bring to market. Page 10 of 13  FF&E We are actively progressing through the FF&E procurement process and are currently receiving quotes for the items outlined on our procurement list. Key Action Items: • Weekly update meetings with both MEB and MBP to aligning timing and mutual goals • Developed full list of A/V needs for design partners • Conducted initial review of interior with design firm and are refining as a team to make a recommendation This stage marks an important step forward as we ensure all components align with our project goals and design vision. Page 11 of 13 Thank You! Page 12 of 13  HTRFA COMMITTEE UPDATES WILLIAMSBURG SPORTS & EVENT CENTER Client: HTRFA Location: 101 Visitor Center Dr. Williamsburg, Va Date: 09/11/2024 MBP CM: Todd M. Walker MBP No.: J23183.001 Contractor: MEB Architect: CLARKNEXSEN, Guernsey & Tingle Architect Substantial Completion: 6.10.26 Final Completion: 8.4.26 HTRFA COMMITTEE COW Andrew Trivette- Chair Robbi Hutton- City of Williamsburg JCC Scott Stevens- Vice Chair John Carnifax- JCC York Co. Brian Fuller- Secretary Mark Bellamy-York Co. Kemper Sports Steve Goris, John Di Meglio, Steve Ryan MILESTONE UPDATES 1. Applied for Building permit 7.22.24 2. Delivery of PEMB Steel- October 16th. 3. Delivery of Conventional Steel- November 14th. 4. Utility Agreement- Pending HTRFA approval CONSTRUCTION % COMPLETE 1. Building Work- 10% Building footing approx. 50% complete 2. Site Work- Completed waterline tie-in. Completed underground storm water retention structure. MEETINGS 1. Continued regularly scheduled OAC- Bi-Weekly: 8/29/24 Next Meeting: 9/12/24 2. Additional meetings- Kemper Teams meeting every Thursday for Operator coordination. ADDITIONAL COMMENTS 1. Received Cx proposal for Mech, Elec, Plumbing. Pending HTRFA approval 2. Received Quotes for CCTV, and Access controls. Pending HTRFA approval 3. Continued engaging Furniture providers- Workplace Solutions, Ball Office 4. The project is on or slightly ahead of schedule based on the updated CPM schedule. Page 1 of 1 MBP www.mbpce.com Page 13 of 13