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SR-06-11-2013-8AID iy until r City of Santa Monica' City Council Meeting: June 11, 2013 To: Mayor and City Council From: Karen Ginsberg, Director of Community and Cultural Services Andy Agle, Director, Housing and Economic Development Subject: Options for the future of the Santa Monica Civic Auditorium Recommended Action Staff recommends that the City Council: 1. Review and comment on an interim use plan for the Civic Auditorium. 2. Review and comment on options to manage and operate the Civic Auditorium. 3. Review and comment on strategies to generate revenue for the renovation and operation of the Civic Auditorium. 4. Review and comment on the concept of a Civic Auditorium as the hub of a Civic Center creative district and mixed -use cultural campus and preferred uses of the district. 5. Direct staff to proceed with a community process and associated market feasibility and economic analyses and return to Council with recommendations for preferred uses and proposed modifications to the Civic Center Specific Plan as necessary. 6. Authorize the budget changes as outlined in the Financial Impacts and Budget Actions section of this report. Executive Summary City Council held a study session on October 23 2012 to discuss the future of the landmark Santa Monica Civic Auditorium (Civic) that will close on June 30, 2013. At the study session Council directed staff to conduct additional research on potential sources of financing for the necessary renovation along with operating models that would allow the Civic to function as a cultural resource. This report details the findings of this research and outreach, outlines a proposed interim use for the facility, and recommends a series of next steps to advance a long term plan for the Civic Auditorium Campus. Background The City cannot continue to operate the Civic "as is" for a variety of reasons, including: • the building, along with its systems and performance technology are antiquated; • it presents seismic safety concerns; • the current business model, which relies primarily on consumer shows, is no longer economically viable; • due to the issues listed above, the Civic has lost its competitive position in the region for attracting concerts, performances and larger events, apart from community- subsidized activities, and • it operates with an annual deficit of up to $2 million. Over the last seven years the City has examined a number of different ways to revitalize the Civic (see Attachment A — Annotated Bibliography for a complete list.) Prior to the dissolution of Redevelopment the City had planned to close the Civic Auditorium in summer 2013 to commence a $50M renovation. However on ALI ust r, 2012 Council authorized the suspension of the Civic renovation project as part of the contingency plan to address the impact of the loss of redevelopment funds on priority projects, and directed staff to develop alternatives for the rehabilitation of the Civic for a Council study session. On Cc fober- 23 2012 Council held a study session to consider the future of the Civic. At that meeting Council affirmed the intent to close the facility as planned and directed staff to return once additional research had been completed. Specifically, staff was tasked with talking with stakeholders and experts in various fields to explore operating models that would allow the retention of the landmarked facility as a cultural resource; and to research potential sources of financing for the required renovation. Council also expressed concern about the impact that mothballing might have on the building over time and asked that other interim options be explored, E Discussion Interim Use In response to Council's concern, staff developed a plan that would help to ensure regular use of portions of the facility, and the on -going monitoring of key building systems, while keeping the area around the Civic in active use. Under this plan the East Wing would be available for limited public events, as well as City activities such as community workshops, staff training activities, and personnel exams. Due to seismic safety concerns, use of the Main Hall would be restricted to non - public assembly uses, such as filming. In addition, the parking lot could continue to be rented for a limited number of events, such as the Ford Fusion launch or base camps for film companies, as well as continuing to provide public parking. Staff from the Community and Cultural Services Department would coordinate these activities. Should any new policies or rates need to be established, staff would return to Council for approval at a later date. Revenue from these interim activities, estimated at $155,000, would help to offset the associated staffing costs and on- going, nominal operating costs that are deemed necessary to maintain this historic asset, including utilities, insurance, security, custodial and landscaping services. Staff estimates that the basic costs of maintaining the facility would be approximately $250,000 annually. In addition there would be some one -time costs associated with the closure in the amount of approximately $160,000. Costs associated with the interim use are projected to be $115,000 for a total estimated expenditure of approximately $525,000 in FY 13 -14 and $365,000 in FY 14 -15. Research and Outreach In response to Council's direction at the October 2012 study session, an interdepartmental group, including representatives from Community and Cultural Services, Housing and Economic Development and Planning Departments, conducted interviews with community stakeholders, such as the `Save the Civic' group and experts in the fields of entertainment, financing, adaptive re -use and real estate development (please see Attachment B for a complete list of interviewees) to gather input on the following three broad questions: It] ® Assuming a cultural /entertainment use, what operating models might work for the facility? ® How can the necessary capital improvements be financed? ® If use of the adjacent land (the parking lot) were pursued to finance such improvements, is there a minimum area needed to generate the funding needed and what might be the best types of uses at this site? In addition to the interview process, staff worked with the Urban Land Institute to convene a panel of experts to explore these and related questions. On May 9 and 10, 2013, six high -level volunteer professionals in the fields of entertainment, architecture, convention center management, real estate development and public finance came together for two days of research and analysis, culminating with a public presentation of their findings. The executive summary of the panel's report is included as Attachment C. Finally, staff held a public meeting on June 4, 2013 to gather additional community input on these topics. A summary and highlights of the community meeting will be included in the staff presentation to Council. Summary of Key Findings The additional research, interviews, focus groups and community meetings yielded a great deal of information which is summarized in this report in two broad sections: operating models and funding sources. Additionally, staff believes that a number of assumptions and considerations emerged from the research that provide context for the policy discussion. ® Needs in the current market include concerts, film/screening rooms and live theater. Flexible space is important to accommodate different types of events. Black box theater spaces and smaller screening rooms are cheaper to build and equip than a grand concert venue. However, a smaller space would not accommodate special "flagship" events, such as film festivals and award shows, or be financially viable for concerts. 2 • Cultural facilities typically require subsidies for their construction and operation. • If the Civic is to be renovated as a large- scale, mixed -use, performing arts venue, the presence of a high profile "anchor" as a long -term partner (e.g. Golden Globes or the Independent Spirit Awards) could be leveraged for sponsorship revenue. • Any renovation of the Civic or building of additional improvements should make full use of the location, including incorporating outdoor space such as patios, balconies or rooftops. Additional outdoor spaces could be utilized for performances, film screenings, dining space, and other activities or events. • Even with the arrival of light -rail, it is important to incorporate adjacent parking on or near the site, particularly for a performance venue. • The overall site should better tie -in with the surrounding area. The renovation of the Civic is an opportunity to activate the edges of the site along Pico Blvd and 4th St., as well as the intersection of Main /Pico. Pedestrian /bike pathways through the site could promote enhanced connections to the surrounding neighborhoods. • The Civic site is a great location with a large amount of underutilized adjacent land. ® The sooner the City moves forward in identifying a process and a project, the less potential negative impact the closure will have on the community, the building, its mechanical systems and its market position in the region. Operating Models Staff met with representatives from the major promoters and event operators in town, including AEG /Golden Voice, Live Nation, the Dolby Theater and Nederlander Entertainment. Based on these interviews, and those with other entertainment industry experts, there continues to be a great deal of interest in the Civic Auditorium, primarily as a venue for concerts, and special events such as award shows and movie premieres. Hotel operators and business partners such as the Convention and Visitors Bureau remain interested in the venue both for meeting space and as a venue for special events, such as a major film festival in conjunction with the American Film Market. In terms of operating the Civic as a mixed -use cultural facility, the City could: ® seek to lease the facility, either to a for - profit or non - profit entity; ® enter into an operating agreement with a for - profit entertainment company; 5 • or enter into a booking agreement where an entertainment company would be responsible for marketing the facility and securing events and shows Most of these options would require full renovation, at a cost of at least $50 million; although there were some stakeholders that felt that if basic infrastructure upgrades, such as seismic and ADA were completed the Civic could be a viable venue with additional facility improvements made over time. The cost of such basic infrastructure upgrades was estimated at approximately $23 million, if undertaken as a stand -alone project. There was no consensus among the experts interviewed on what might be the optimal approach in terms of the types of uses and operations beyond a general agreement that the Civic could be managed more cost effectively by the private sector, and the opinion that, cultural facilities with civic functions (e.g. non - commercial), require some level of direct or indirect subsidy. Finally, it was noted that such facilities do have the potential to generate a great deal of ancillary economic activity, that produces indirect spending such as dining, shopping, hotel stays and parking revenue. Please see Attachment D for a study completed by the Strategic Advisory Group on the potential economic impact of a renovated Civic Auditorium. In summary, the experts interviewed felt that there is market demand for the facility, in particular due to its west side location and its demographic market, proximity to the beach and area attractions. Additionally the economy has improved since the 2009 RFQ was issued by the City, which may generate more partnership /operating /management responses than before. When the experts were asked about operational assumptions in areas such as programming, community use and the amount of investment that might be expected from a partner or lessee, staff consistently heard that there were different trade -offs to be anticipated for each, and that ultimately the final mix would be based on the specific 0 terms negotiated and the amount of risk that the City would be willing to bear. The trade -offs could be viewed as a continuum where greater control over community use and programming content would require a greater investment/subsidy on the part of the City and diminished control over the facility and programming would most likely result in greater third -party investment. Funding Sources To raise the millions needed, depending on the amount and type of renovations to be made to the Civic, the City may need to seek voter - approved funding as well as leverage private resources. In all likelihood, a combination of funding sources would be needed in order to fully renovate the facility and establish the type of mixed -use cultural venue envisioned by the community and documented through numerous planning efforts. The specific combination of funding sources and /or financing approaches used would depend on the type of project ultimately programmed, the type of uses supported, the development/management model selected by the Council and, in particular, if the adjacent surface parking area is leveraged. The two general financing approaches are described in greater detail below. 1. Private Financing Along with entertainment industry experts and community stakeholders, staff met with a number of private developers including Clarett West, Metropolitan Pacific, and the Related Companies. The interview process confirmed that a sale or a long -term lease of the adjacent surface parking area to allow commercial development could produce significant financial return to the City. Foreign investment, historic tax credits, and a fundraising campaign, including naming rights, could all also be viable sources of funding but would not generate adequate sums on their own. The consensus was that the parking lot could be leveraged to generate a substantial revenue source as well as synergistic uses to support the Civic. Options discussed included: 7 ® utilize the funding generated by a long -term ground lease on the adjacent site to fund the full renovation of the Civic of which: a) the developer is responsible for the actual renovation and operation of the Civic; or b) the proceeds from the ground lease are used by the City to select another entity to renovate and operate the Civic; ® seek a more cost effective adaptive re -use of the Civic, such as creative office, and utilize the funding generated by a long -term ground lease to construct a new, adjacent performing arts facility on the adjacent site. ® a hybrid approach involving a combination of the concepts as outlined above. However, it is possible that, depending on the types of permitted uses and overall approved density, this approach would not produce enough funding to finance the entire renovation of the Civic Auditorium. Further, there was general agreement that this site offers opportunities to establish uses that will complement the Civic, help to create a new cultural campus and better integrate the site into the community. Suggested examples of complementary uses included post - production and film director's offices that would utilize the Civic's screening rooms or recording studio amenities; small theatrical or rehearsal spaces, restaurants and bars to cater to cultural venue attendees; a hotel with meeting room space and catering to provide additional event space and meeting options in conjunction with the Civic. They also felt that there is opportunity to attract expanding "Silicon Beach" firms to move to an arts and cultural district at the site. 2. Voter Approved Funding Assessments, taxes and bonds are the three most common forms of voter - approved funding if an alternative revenue stream cannot be identified to finance a capital project. The most likely option for the Civic Auditorium is a General Obligation (GO) bond. Staff asked the City's financial advisor to analyze a GO bond for the Civic Auditorium. Under a GO bond, the tax levy to be assessed to property owners would be approximately $12.00 per $100,000 of assessed value. Further, the City's financial advisor felt that if this were to proceed, the E optimum timing would most likely be 2016. This is a large financing, and one that might be competing against other local priorities, such as any bonds or parcel taxes that might be proposed by the Santa Monica - Malibu Unified School District or Santa Monica College during the next 18 months. Urban Land Institute (ULI) Findings and Recommendations ULI is a 501(c) 3 non - profit research and education organization supported by its more than 35,000 worldwide members. The mission of the organization is to provide leadership in the responsible use of land and in creating and sustaining thriving communities worldwide. ULI advisory services panels provide strategic advice to sponsors on complex land use and real estate development issues. Panel members are volunteers. The Santa Monica Civic Auditorium panel was chaired by John H. Alschuler, former Santa Monica City Manager and Chairman of HR &A Advisors, a firm that specializes in integrating finance with design to create distinctive places. For example, the High Line in New York is one of their projects. Panel members included John S. Fisher, AIA, John Sergio Fisher & Associates (theater designer); Dan Massiello, Senior Vice President, Public Finance, Kosmont Companies (public finance expert); Mike Ross, Chief Executive Officer, Pasadena Center (convention and civic auditorium operator); Melani Smith, AICP, Principal, Melendrez (urban designer); Thomas W. Wulf, Senior Vice President, Lowe Enterprises (real estate developer). Their process included review of an extensive briefing book, along with two days of interviews and discussion on site followed by a public presentation of their findings and recommendations. As previously noted, the executive summary of the panel's report is attached (Attachment C). The findings enumerated in this report regarding the options for operating and financing the Civic Auditorium were reiterated and confirmed by the ULI panel. They started their public presentation with the statement that "the City should save the Civic due to its cultural history, landmark status and the unusually high level of civic pride associated with the structure, even though it is not cost - effective to restore the building." And the E panel noted that while there is no `silver bullet', Santa Monica is fortunate to have options. In addition they stated that it is time to update the Auditorium Special Use District within the Civic Center Specific Plan and that the proposal to develop a soccer field as a shared use with Santa Monica High School is outdated. Further the panel noted that the costs estimated of $50M for renovation were likely low for a top performing flexible space. Finally they offered a clear vision for the creation of a new arts and cultural district, one that would encompass the entire 10 acre site. In this vision, the Civic Auditorium becomes the hub of a diverse and dynamic mixed -use cultural campus that offers expanded events; accessible, flexible, programmed, public open space; complements Tongva Park; and knits together the urban fabric along Pico, Fourth and Main. This vision is achieved by considering the Civic Auditorium within the context of a group of complementary revenue generating uses and developing the adjacent land in a harmonious way and that builds upon the growth of local creative industries. The ULI panel stated that implementation would require sustained commitment and the crafting of an imaginative, long -term and economically viable plan. They recommended that the new district be managed by a separate non - profit entity, formed to oversee multiple private partners and manage the transparent use of cross - subsidies that would make the district's operating budget possible. Further they recommended that the City formulate a clear vision for the Civic Auditorium and the adjacent land prior to seeking partners or establishing such an entity. 10 Timeline The timeline for the renovation of the Civic Auditorium depends on the process and the approach that the City Council decides to pursue. It is anticipated that any scenario would take a minimum of five years, and likely more, due to the need to complete or put in place the following elements: community visioning, financing, partnership development, planning, design and construction. If the approach selected requires amending the Civic Center Specific Plan (CCSP), then the timeframe would be even longer. Any change in land use, or modifications to the Civic Auditorium building beyond the 20,000 square feet envisioned in the CCSP, are examples of the types of changes that could likely trigger the need to amend the CCSP and completion of environmental review in accordance with the California Environmental Quality Act (CEQA). Therefore, the sooner the City embarks on a process the less negative the impact of the closure will be on the building, its systems and the Civic's position in the regional market. Next Steps There has been strong community and Council support for the renovation of the Civic Auditorium and enriched cultural programming at the landmark facility. Prior to the loss of redevelopment the City had committed to renovating the building and operating it as a mixed -use cultural facility that would host concerts and theatrical productions, along with special events such as award shows and film screenings. The lack of capital improvement funds has required the reevaluation of this vision and the overall economic viability of this approach. If the Civic is to have a future as a signature community cultural resource for Santa Monica, a mix of funding from all available sources is likely to be needed for both the renovation and the long -term operation of the facility. The ULI recommendation of the establishment of a cultural district where a renovated Civic Auditorium is the hub of a mixed -use creative campus offers a strategy to achieve this goal. Staff requests Council direction to undertake the next steps in this process which would entail the completion of a community planning process akin to that which was 11 undertaken for Bergamot Station Arts Center to clarify the preferred complement of uses at the site, as well as the preparation of associated market feasibility and economic analysis for the various cultural use and development options. Concurrently staff would research and analyze existing examples and potential models for a non- profit management organization. This process is envisioned to take approximately eighteen months at which time staff would return to Council with recommendations for preferred uses including identification of modifications to the Civic Center Specific Plan if necessary. Alternatives The City Council could decide not to proceed with a community planning and market feasibility /economic modeling process, and could instead pursue one of several options: 1. City Council could direct staff to work with community members to identify and develop a local non - profit management group, who would be responsible for fundraising and overseeing the renovation and operations of the Civic. The building would be "gifted" to the non - profit as a long -term $1 /year ground lease. This is akin to the Santa Barbara Bowl model, which has been very successful over time. Per the Foundation's website, over a twenty year period the organization prepared a master plan and then raised over $25M for the improvements that they have undertaken to date, with additional phases yet to be funded. It is important to note that this approach is dependent on the emergence of a strong community group and that group's ability to secure substantial funding for the initial renovation and long -term improvements. 2. City Council could direct staff to issue an open -ended RFP for the renovation and long -term lease of the Civic Auditorium for any use, not simply a cultural use, with the understanding that the successful lessee would need to invest in bringing the building up to code. This would result in saving the building, but not necessarily the civic function. If the building were not utilized as a cultural facility, the proceeds from the ground lease could be invested in funds to support the arts and culture in Santa Monica. R 3. City Council could sell the building to a private entity, for adaptive re -use, such as a technology or research campus, and invest the proceeds in a new cultural venue adjacent or elsewhere in Santa Monica, or in a fund to support the arts and culture in Santa Monica. If the City were to pursue such an option, given the landmark status of the building and the significant seismic needs, the sales price could be relatively low. Financial Impacts & Budget Actions Costs associated with the basic maintenance of the facility as well as the interim use are projected to be approximately $525,000 in FY 13 -14 and $365,000 in FY 14 -15. Revenues are anticipated to be approximately $155,000 a year. The proposed FY13- 15 budget included a preliminary estimate in the amount of $475,000 in expenditures and $105,000 in revenues. Staff will adjust the amounts in the final budget to reflect the updated estimate for Council approval. Implementing the recommendations to proceed with a community process and associated market feasibility and economic analyses will result in a one -time cost of approximately $260,000. The remainder of the funds in the Civic Auditorium fund balance will be set aside to cover these costs. Staff would return to Council to seek authorization to contract for specific professional services as needed. 13 Additional funding will be needed to cover future costs associated with any environmental review that may be required as a result of proposed amendments to the CCSP. Prepared by: Jessica Cusick, Manager, Cultural Affairs Jason Harris, Manager, Economic Development Approved: Community Andy Agle, Director Housing and Economic Development Attachments: A — Annotated Bibliography B — Interview List C — Executive Summary — ULI Report D — SAG Economic Impact Report Forwarded to Council: �t Rod Gould City Manager iL! Attachment a ANNOTATED BIBLIOGRAPHY t, I I � � JfIlLi1`.i� I 1- l' Introduction This annotated bibliography is designed to give an overview of the selected documents that have been prepared about the Santa Monica Civic Auditorium (Civic) spanning 2000 to 2011 regarding the Civic. The eight studies include: 1) AMS Planning & Research. Facilities Coordination Study. June 2000 2) Landmark Designation. November 12 2001. 3) ULI Los Angeles. Alternative Futures for the Santa Monica Civic Auditorium: Issues and Observations, 2004. 4) City of Santa Monica. Santa Monica Civic Center Specific Plan Evaluation. Report, 2004. 5) City of Santa Monica. Santa Monica Civic Center Specific Plan. Adopted June 28, 2005 6) City of Santa Monica. Santa Monica Creative Capital Plan. 2007 7) City of Santa Monica. City of Santa Monica/Santa Monica Malibu Unified School District Joint Use Assessment Report. June 18, 2008. 8) Strategic Advisory Group. The Analysis of Private Capital Opportunities for Civic Auditorium Renovation. May, 2011 Major issues discussed in the studies are: 1) Reuse options for the Civic Auditorium including maintaining the status quo or utilizing the Civic as a regional performing arts center, conference center, major concert venue, or community events center. 2) Assessment of capital improvements and costs 3) Operations and the need for a potential operating subsidy 4) The need to define a cultural vision for the Auditorium to guide future development Additionally, the Landmark status documents identify a number of unique and architecturally significant features that cannot be altered without required actions by the Landmark Commission. Documents 1. AMS Planning & Research. Facilities Coordination Study. June 2000.37 pages, pp.26- 28. This study catalogues all facilities in Santa Monica. The Civic Auditorium listing information such as ownership, year built, location, rental policy, user statistics, operations, audience and capacity as a performing arts /visual arts facility. Annotated Bibliography Santa Monica Civic Auditorium, 2000 -2011 Page 2 of 5 2. Landmark Designation. November 12, 2001, The Landmarks Commission filed an application nominating the Civic Auditorium for Landmark designation on August 13 2001. On October 8, 2001, the Landmarks Commission received a preliminary report from staff, with analysis indicating that the property meets the criteria for designation as a City Landmark. On November 12 2001, the Landmarks Commission designated the structure a City Landmark. As determined by the Landmarks Commission, the designation of the Civic Auditorium includes the exterior of the building, the remaining original pygmy pal trees as a secondary feature and a number of interior elements located in public areas of the resource. The Civic Auditorium met all six criterions for Landmark designation, which are: 1) It exemplifies, symbolizes, or manifests elements of the cultural, social, economic, political, or architectural history of the City 2) It has aesthetic or artistic interest or value, or other noteworthy interest or value 3) It is identified with historic personages or with important events in local, state or national history 4) It embodies distinguishing architectural characteristics valuable to a study of a period, style, method of construction, or the use of indigenous materials or craftsmanship, or is a unique or rare example of an architectural design, detail, or historical type to such a study 5) It is a significant or a representative example of the work or product of a notable builder, designer, or architect 6) It has a unique location, a singular physical characteristic, or is an established and familiar visual feature of a neighborhood, community or the City. On November 26, 2001, Councilmember Herb Katz filed an appeal of Landmarks Commission decision designating the Civic Auditorium as a City Landmark. On April 9 2002, the City Council voted 6 -1 to uphold the Landmarks Commission's determination and deny the appeal. The City Council's decision was based upon the finding contained in the attached Statement of Official Action. 3. ULI Los Angeles. Alternative Futures for the Santa Monica Civic Auditorium: Issues and Observations, 2004. 13 pages. Provides a brief overview of the history of the Civic Center and evaluates the economic impact regarding integration of the Civic Center Specific Plan with the Santa Monica Civic Auditorium. Concludes that the City has no guiding vision for the Civic or a process to identify community support for any plan and expresses concern that the facility cannot focus on community, cultural or educational events without requiring subsidies. Recognizes that lack of capital improvements and renovations have made the facility less attractive and competitive in the Southern Californian market. Suggests formation of "Blue Ribbon Committee" as a method to identify appropriate community vision and address the impacts of alternative use options with regard to the adverse impact of the Specific Plan. This report contains a brief discussion of economic viability of the following alternatives: community events, conference /convention center, conference /day events center, concert venue, performing arts center and adaptive reuse. Lists costs and benefits of each alternative discussed in relation to building design, the market and community goals. Suggests testing the concert venue and adaptive reuse alternatives through a Request for Proposal (RFP) process and dismisses the other options as unfeasible. This report does not discuss financing capital or come to a firm conclusion about the options. 2 Annotated Bibliography Santa Monica Civic Auditorium, 2000 -2011 Page 3 of 5 4. City of Santa Monica. Santa Monica Civic Center Specific Plan Evaluation Report. 2004. 82 Pages. pp. 2 -26 After 13 years of community outreach and planning associated with the Civic Center Specific Plan, Santa Monica City Council developed an urban design plan for the Civic Center area. This report evaluates key issues affecting the implementation of the Civic Center Specific Plan such as the balance between housing and open space, future use of the Civic Auditorium, restoration of existing City Hall, location of a child development center, meeting of parking needs in the area, levels of housing affordability and implementation of planned improvements. This evaluation includes analyses of housing affordability, circulation and parking. Determines that the Civic Auditorium is a significant community resource and should be preserved. Questions the role the Civic Auditorium should play within the Civic Center, and how it will relate to other viable cultural uses in the area and the community. Identifies the need for repair after many years of deferred maintenance; the structure does not meet current seismic or plumbing codes; and its systems (mechanical, HVAC, electrical, fire) are badly in need of replacement. The report develops and evaluates five scenarios for the Civic, including status quo and repurposing to create a regional performing arts center, conference center, major concert venue, or community events center. The evaluations focus on the cost of each option as well as compatibility with both the future and existing neighborhoods. Estimates operating costs of the Civic Auditorium could range from zero to $2.5 million per year, depending upon the reuse alternative that is selected. Four key funding sources for improvements associated with the implementation of the Civic Center Specific Plan are identified: General Obligation Bonds; The General Fund Capital Improvement Program (CIP); Redevelopment Agency Tax Increment Funds; Housing Set Aside Funds. 5. City of Santa Monica. Santa Monica Civic Center Specific Plan. Adopted June 28, 2005. 91 pages. pp. 49 -58 This document builds upon, and supersedes, the 1993 Civic Center Specific Plan, as amended in 2000. It is a comprehensive urban design plan for the Civic Center area of Santa Monica establishing the planning policies, land use and development regulations related to redevelopment and open space improvements. The plan is divided into 6 chapters. The Specific Plan provides the policies and standards to maintain the Civic Auditorium as a prominent landmark within the Civic Center, and to program it with activities that will sustain its meaningful role within the community. The plan determines that priority shall be given to cultural, educational, and community- oriented activities while preserving opportunities for events that can contribute to the ongoing operation and upkeep of the facility. The Specific Plan provides ten policies and standards regarding the Civic Auditorium as summarized. Policy (1) specifies that more detailed analyses shall be undertaken to establish a specific activity program and financial plan for the ongoing operation and upkeep of the Civic Auditorium. Policies (2), (3), (4), (5), (6) are specifications for expansion of the East Wing of the building. Policies (7), (8), (9) and (10) prescribe subterranean parking alongside the facility and specify that renovated design will screen loading and servicing areas. Annotated Bibliography Santa Monica Civic Auditorium, 2000 -2011 Page 4 of 5 6. City of Santa Monica. Santa Monica Creative Capital Plan. February 2007. 121 pages. pp. 11 -12, 36 -69 Creative Capital emphasizes the importance of retention, development and reuse of cultural facilities that reflect the community's unique identity. The document outlines a collective vision for the future of the arts and culture in Santa Monica and develops strategies for fulfilling this vision. In regard to the Civic Auditorium, the plan concludes that any version of cultural uses for the Civic Auditorium will require a substantial capital outlay and, potentially, an operating subsidy. These capital costs are estimated to total between $11.6 and $40 million. It also highlights the Landmark status of the building as a potential issue, but concludes that there is latitude for significant reuse and alteration of the non - protected elements of the facility. Asserts that there is more than one use and configuration of the Civic Auditorium that would suit community needs however there is an overarching financial question of whether operation of the facility will be subsidized or could be structured as a revenue generator. The dilemma is whether to retain the auditorium in something close to its current configuration, or to adaptively reuse it for other purposes. Use as a conference center is partially considered, but the document acknowledges a number of barriers including the lack of a hotel sufficiently large to book conferences on a scale necessary for conference bookings. The report concludes that use as a conference center is not consistent with the community's cultural vision for the Civic Auditorium and was not therefore pursued. There are two fundamental options that the document analyses include Performing and Visual Arts Center and Concert Venue. Creative Capital suggests that city commits to a cultural use of the Civic Auditorium in line with the Civic Center Specific Plan but that there is a need for choosing specific elements of this vision and the practicalities of implementing it. 7. City of Santa Monica. City of Santa Monica/Santa Monica Malibu Unified School District Joint Use Assessment Report. June 18, 2008. 5 pages. The 2008 Joint Use Assessment Report, prepared by Koning Eizenberg Architecture, studies joint use opportunities on the Civic Center and Santa Monica High campuses with particular emphasis on the viability of enhanced cultural and recreational uses within the civic core. Key findings include: • Santa Monica High School ( Samohi) houses three main cultural facilities including Barnum Hall, the Greek Amphitheater and the Roberts Art Gallery. The Greek, built in 1921, has a seating capacity of 2,500. Barnum Hall, built in 1938 and renovated at the beginning of this decade, seats 1,250. • The Samohi facilities master plan calls for upgrades to the historic Greek Amphitheater to reinstate its visibility and enhance the venue. • There is great deal of community support for the shared use of cultural venues and the . links it could build between Samohi, the Civic Center and broader community. Preferred community uses on the Civic campus include art studios /classes, outdoor programming, a museum and theater(s). (99 -350 seats). • The idea of a "cultural consortium' akin to UCLAlive is identified where a singular entity coordinates performances at the Greek, Barnum Hall and Civic. 0 Annotated Bibliography Santa Monica Civic Auditorium, 2000 -2011 Page 5 of 5 8. Strategic Advisory Group. The Analysis of Private Capital Opportunities for Civic Auditorium Renovation. May, 2011. 23 pages. This report analyzes whether private capital could be attracted to fund improvements to the Civic should Redevelopment Agency (RDA) funds not be available. The firm identifies three primary options which have the potential to generate between $1 M and $80M in financing including allocating operatonal cash flow streams to repay debt, changing to the proposed exclusive presenter deal structure to affect private investment, and a small group of other financing options including philanthropy, land development and self- assessed hotel taxes /fees. The report indicates impacts on the City operating subsidy as an increase or decrease from the then - current projected baseline subsidy ($1.6M in year one to $1.1 M in year ten). Specific financing concepts include investment by a concessionaire, parking revenue, naming rights, City's share of contribution margin, City- managed models (2 options), long -term lease models (2 options), philanthropy, land development and self- assessed hotel taxes /fees. Key takeaways from the analysis include: • Given the market and anticipated mix of events at the Civic, significant operational losses are anticipated over the initial 10 -year period, which are common among similar facilities. • A portion of the needed capital funds would likely come from the private sector, borrowed at a higher rate than public debt and most likely sourced by the selected promoter /presenter. As a result, the promoter /presenter would need an allocation of additional revenue streams in order to repay the debt which, in turn, would increase the City's annual subsidy. • The most promising options for capital include philanthropy and /or development of the adjacent parking lot, either of which could fund the entire renovation. However, both will take time and require different trade -offs on the part of the City. • A campaign to raise money through private philanthropy could take years with no guarantee of success. It would require committed community leadership, dedicated staff and a significant investment in a first -rate fundraising team, likely 10% to 15% of the amount raised. Attachment B Experts and Stakeholders Interviews, Presentations and Discussions Future of the Santa Monica Civic (Vote: This list does not include ULI Technical Assistance Panel interviewees. Santa Monica Alliance Community Presentation to and discussion with Board of Directors Santa Monica Convention & Community Presentation to and discussion with Board Visitors Bureau of Directors Save the Civic Community Nina Fresco Carol Lemlein Frank Gruber City Build Advisors Developer John Given, Principal Caruso Affiliated Developer Rick Caruso, Founder and Chief Executive Officer Bryce Ross, Vice President of Acquisitions and Development Clarett West Development, LLC Developer Frank Stephen, Senior Managing Director Jay Glaubach, Director of DLJ Real Estate Capital Partners Metropolitan Pacific Capital, Inc. Developer John Warfel, President The Nederlander Organization Presenter /Operator J. Alex Hodges, CEO, Nederlander Concerts David Green, Senior Vice President & Chief Financial Officer, Nederlander West Coast Related Companies Developer Bill Witte, President, Related California Stephen Eimer, Executive Vice President AEG / Goldenvoice Presenter /Operator Brian Murphy, Goldenvoice /AEG -Live Larry Vallon, Executive Vice President, AEG Live Dolby Theatre Presenter /Operator Jay Thomas, Vice President/General Manager Live Nation Presenter /Operator Bret Gallagher, President, North American Concerts (Vote: This list does not include ULI Technical Assistance Panel interviewees. I {iel Los AngWes d oci nia -: I kis., ?: t IIIce pan ,l Toir i is e -Into Mor03c;,� G.9Ulc AmIhorlUf "n lli:} rr 9 and 3.0, 2N} [ Eli hiii tj7� from flio P'alwl The City of Santa Monica, directed by the Community & Cultural Service Department's Cultural Affairs Division ( "Cultural Affairs Division "), requested ULI Los Angeles to host a ULI Technical Assistance Panel on May 9 and 10, 2013 to provide a roadmap to address the long -term future of the Santa Monica Civic Auditorium and provide a framework to implement the vision. The event was part of ULI Los Angeles's Technical Advisory Panel ( "TAP ") program which provides expert, multidisciplinary advice on land use and real estate issues facing communities in the Los Angeles Region. For many years, the Civic Auditorium was one of the largest concert venues in Southern California. International artists, such as the Doors, the Rolling Stones, the Beach Boys, Bob Hope, and Bob Dylan performed in the main auditorium. It was designed to be flexible enough to allow for local community events or large concert performances. But, with the lack of capital investment in the facility, and years of deferred maintenance, most concerts and events located to new facilities constructed in the Los Angeles area. The majority of event bookings at the Civic Auditorium now consist of consumer event shows, and while it remains home to the Santa Monica Symphony Orchestra, the building systems have deteriorated and reached the end of their useful life. At this time, the City plans to close the Civic Auditorium indefinitely, as of June 30, 2013 0 he P,-M'C i S l n cri Civic A104(;rium i"; ijlt� €yaidut _ +l lleavi, of the 6 ri;y The ULI Los Angeles Technical Assistance Panel recommends the City of Santa Monica set the Dream — to renovate the theatre as a cultural icon for posterity. The City of Santa Monica can establish a cultural center— performing arts, visual arts, and more importantly, a special place for the Westside. The City can be a leading place for culture, for all the arts, and qualitatively compete with downtown venues so that the Westside population does not need to travel downtown to enjoy the best entertainment and special events. Wwii os p i The Panel believes that the future of the Civic will require major financial commitments; harmonious, appropriately- scaled development; improvements to the operating model, and other sources of revenue, such as naming rights, general obligation bonds, or other financial subsidies. P" O, I a 3 ii4 it l I I I f3 11kid hil;,)iIa£ oinQ.r €;; The Civic Auditorium exists in a highly competitive, fluid market environment, which will require a distinct market position in order to succeed. Successful facility management demands extensive knowledge, expertise and creativity. A modern, well- managed facility can capture concerts, Broadway shows, family shows, filming, award shows, local events, graduations, and local performances. Additional event opportunities for revenue are tradeshows, conventions, consumer shows, meetings, outdoor parking lot events, and banquets and receptions. Consideration should be given to a public non - profit management model, to be explored for the operation and management of the Santa Monica Civic Auditorium. This model will allow the City to maintain budget authority and to elect the governing board. The governing board oversees the management and sets policy. The manager implements the policy. This governing format is valuable in that it enables the facility management to operate with greater flexibility and effectiveness, especially in the areas of personnel management, payroll, purchasing, contract approval, sales and marketing, event booking, scheduling, event management, parking, ticketing, advertising, concessions and catering, facility maintenance, and generally just being able to negotiate competitive "deals." The Facility Manager is in charge of the day -to -day operation, not the governing board. The leadership model can be successful if there are clearly defined goals and the management is entrepreneurial and market- oriented. The Panel believes the future of the Civic will require substantial subsidies and annual operating support. The Panel recommends the City set the direction for the Civic and determine whether the Civic needs to operate at profit; break -even from operations; cover debt service; or operate at a loss. Currently, there is a large City subsidy, which cannot continue in the current economic environment. The Panel suggests the Civic Auditorium needs to recover costs for services to the City. In addition, Los Angdes services should be priced within the industry norm. A snapshot of the Civic's financials indicate the cost of services are too high and out of alignment with what is considered feasible within the market €.iE it IPi �`e1iY6 The Civic Auditorium needs to be a state -of- the -art facility that is flexible enough to be an ideal venue for drama, musicals, ballet, popular concerts, choral, classical concerts, film and both raked seating and flat floor special events including exhibits. The Civic Auditorium should be renovated to enhance acoustics; incorporate telescopic seating; and modernize the theatre system technology. These improvements are in addition to the excellent study already presented to the City for the renovation and addition to the Civic. hiim [St;Vond r h Chic: TI, Cxoathre DNi , ici The Civic Center Specific Plan, adopted by the City of Santa Monica in 2005, has proven to be a planning vehicle that is adaptable to the changing market conditions and opportunities facing the City. In 2013, given the new reality facing the City, that the funding previously available to renovate the Civic Auditorium is no longer available, new solutions and opportunities must be sought. The entire 10 acres that currently encompasses the Auditorium Special Use District within the Specific Plan must now be replanned. While the Early Childhood Center currently proposed in the District is still a viable use, and planning for it is ongoing with Santa Monica College, the proposal to incorporate a soccer field within the acreage, to be shared with Sarno High is now obsolete. The space that this use would have occupied within the District, has therefore been reconsidered by the TAP Panel. The Civic Auditorium has survived as an island in a sea of surface parking for long enough, but for the Civic to succeed in the future, it must be embedded in a larger Creative District, flanked by compatible uses, and reconnected to the urban fabric of the City. In the future a surface parking lot will be considered an inappropriate use of a precious piece of land in this location. The District must reflect four essential characteristics, it must be: Civic, Cultural, Creative, and Activated. The District must also incorporate multimodal opportunities in order to knit the site together. k Oi.➢pm it I I ihi icS The Panel suggests the following directions for the District to support the Civic Auditorium: 1) Support the renovation & modernization of the Civic Auditorium with significant financial support through development opportunities of the surrounding City controlled surface parking lots; 2) Support and encourage the establishment of the Civic Center Creative District through complimentary development uses to expand the arts impact; and 3) Bring a renewed vibrancy and activity to the Civic Center Creative District and establish the connections and linkages to the surrounding area. The City is quite fortunate to share a location and environment which is in high demand for a variety of potential development uses which could all be successful and achieve the established goals. Many cities and agencies are not so fortunate with land for development opportunities. What this provides is a clean slate of many viable development scenarios for the approximately five to six acre development property. The Panel recommends a healthy mix of uses to generate activity in the Civic Center Creative District while programming a revenue stream to support any renovation and development. A mix of some of the following complimentary uses should be explored: boutique hotel and conference center; residential apartments; artist in residence; creative commercial office; and pedestrian activated ground floor retail. Now that redevelopment funding is no longer a resource for the City, the ability to raise new annual revenues to make debt service payments is severely curtailed. In order to determine what the City can afford in the post - redevelopment era, many alternatives must be explored prior to making a decision to continue planning such a project. These alternatives must be truly "alternative," i.e. creative and substantially different from traditional financing structures historically deployed by municipalities to pay the costs of capital improvements. The panel believes that a balanced multi- sourced approach should be utilized and suggests the City explore the following options: naming rights, voter authorization for general obligation bond; leverage the value of parking lots with development; public /private opportunities; and other financing vehicles such EB -5 financing, New Markets Tax Credit financing and Historical Tax Credits. Santa Monica Civic Auditorium Tau Generation Summary (Direct Impact Only) Consumer other/ City Concerts Svmohonv Theatrical Convention Show Corn SMERF Use TOTAL Transient Occupancy Taxes (14.0 %) High -Im pact Atten dees $0 $0 $0 $149,000 $0 $500 $8,400 $0 $157,900 Low - Im pact Attendees 0 0 0 0 0 0 0 0 0 TOTAL $0 $0 $0 $149,000 $0 $500 $8,400 $0 $157,900 Sales Taxes (1.5 %) $0 $0 $0 $223,400 $6,100 $1,500 $0 $0 $0 High - Impact Attendees $1,800 $0 $0 $7,800 $3,400 $0 $400 $0 $13,400 Law -Im pact Attendees 4,60D 100 0 300 23,300 0 0 0 28,300 TOTAL $6,400 $100 $0 $8,100 $26,700 $0 $400 $0 $41,700 Parking Facility Taxes (10.0 %) $900 $0 $59,500 HighTm pad Attendees $48,300 $0 $22,500 $11,600 $200 High - Impact Attendees $800 $0 $0 $2,400 $1,400 $0 $200 $0 $4,800 Low- lmpact Attendees 2,300 700 0 100 12,400 200 700 0 16,400 TOTAL $3,100 $700 $0 $2,500 $13,800 $200 $900 $0 $21,200 Total Tax Revenue $9,500 $800 $0 $159,600 $40,500 $700 $9,700 $0 $220,800 Corp Corp Ticketed 4 -Wall City Concerts Svmphom, Theatrical Convention Small laree Rentals Rentals Use TOTAL Transient Occupancy Taxes (14.0 %) High - Impact Attendees $0 $0 $0 $223,400 $6,100 $1,500 $0 $0 $0 $231,000 Low - Impact Attendees 0 0 0 0 0 0 0 0 0 0 TOTAL $0 $0 $0 $223,400 $6,100 $1,500 $0 $0 $0 $231,000 Sales Taxes (1.5 %) $28,000 $700 $23,000 $3,800 $1,000 $200 $1,900 $900 $0 $59,500 HighTm pad Attendees $48,300 $0 $22,500 $11,600 $200 $100 $1,200 $100 $0 $84,000 Low - Impact Attendees 63,000 100 28,500 400 800 200 3,000 0 0 96,000 TOTAL $111,300 $100 $51,000 $12,000 $1,000 $300 $4,200 $100 $0 $180,000 Parking Facility Taxes (10.0 %) Local Sales Taxes (1.50 %) High -Impact Attendees $70,600 Low - Impact Attendees 67,700 TOTAL 138,300 Transient Occupancy Taxes (14.0 %) High -1 in pact Attendees $11,200 $0 $9,200 $3,600 $100 $0 $500 $200 $0 $24,800 Low -lm pact Attendees 16,800 700 13,800 200 900 200 1,400 700 0 34,700 TOTAL $28,000 $700 $23,000 $3,800 $1,000 $200 $1,900 $900 $0 $59,500 Total Tax Revenue $139,300 $800 $74,000 $239,200 $8,100 $2,000 $6,100 $1,000 $0 $470,500 Local Sales Taxes (1.50 %) High -Impact Attendees $70,600 Low - Impact Attendees 67,700 TOTAL 138,300 Transient Occupancy Taxes (14.0 %) High -Impact Attendees $73,100 Low- ImpactAttendees 0 TOTAL $73,100 Parking Facility Taxes (10.0 %) High -Impact Attendees $20,000 Low-fin pact Attendees 18,300 TOTAL $38,300 Santa Monica Civic Auditorium Tax Generation Estimates: High -Impact Only Subjed Taxes Consumer Other/ City Rate Concerts Symphony Theadeal Convention Show Corp SMERF Use TOTAL Spending per Highimpad individual 1,875 90 0 6,080 3,450 20 600 0 12,115 Hotel Rooms TOT 14.00% 14.00% $175.00 $175.00 $125.00 $100.00 Hotel Restaurants Sales 1150% $0 $149,000 $0 25.00 $8,400 20.00 15.00 other Restaurants Sales 1.50% 10A0 10.00 10.00 25.00 10.00 20.00 20.00 Admisson to Shows Sales 1.50% 55.00 ROO 5.00 3.00 10.00 0 4,800 Recreation 52,600 $0 $0 $159,200 $4,800 200 $9,000 $0 $176,100 Sporting Events 2.00 $1,700 $300 $0 $339,800 200 Sightseeing 2.00 7.00 Sightseeing Shopping Sales 1.50% 200 25.00 45.00 2500 10.00 L..] Transport 25.00 25.00 12.00 10.00 Loral Transport Auto Rental Sales 1.50% 12.00 Too Gasoline Sales 1.50% 4.00 Parking - Fordo, Park 10.00% 4.00 4.00 4.00 4.00 4.00 4.00 4.00 Parking - Other Park - 1.00 100 1.00 1.00 1.00 too 1.00 Other 4.00 4.00 Parking - Other Park - 9.00 1.00 1.00 1.00 TOTAL 1.00 1.00 $70.00 $20.00 $20.00 $301.00 $70.00 $245.00 5150.00 $0.00 Total Highimpad Individuals 1,875 90 0 6,080 3,450 20 600 0 12,115 Taxes Generated Hotel Dennis TOT 14.00% $175.00 $175.00 $175.00 Trans ent Oaupanry Tax $0 $0 $0 $149,000 $0 $500 $8,400 $0 $157,900 SalesTax 1,800 0 0 7,800 3,400 0 400 0 13,400 Parking fadlities Tax 800 0 0 2,400 1,400 0 200 0 4,800 TOTAL 52,600 $0 $0 $159,200 $4,800 $500 $9,000 $0 $176,100 Subjed Taxes Corp Corp Ticketed 4 -Well arty < Rate Concerts symphony Theatrical Convention Small Large Rentals Rentals Use TOTAL Spending per Highimpad Indlvfdual 28,000 90 23,040 9,120 250 60 1,200 600 0 62,360 Hotel Dennis TOT 14.00% $175.00 $175.00 $175.00 Hotel Restaomms Sales 1.50% $0 $223,400 $6,100 25.00 20.00 20.00 $0 $231,000 Other Restaurants Sales 1.50°% 15.00 10.00 10.00 25.00 20.00 20.00 10.00 15.00 Admission to Shows 11,200 0 100.00 5.00 55.00 3.00 500 200 45.00 24,800 Recreation $59,500 $0 $31,200 $238,600 $6,400 2.00 $1,700 $300 $0 $339,800 Sporting Events 2.00 Sightseeing 200 Shopping Sales 1.50% 25.00 25.00 25.00 10.00 Loral Transport 12.00 Art. Rental Sales 1.50% 7.00 Gasoline 4.00 Parking - Fatality Park 10.00% 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 Parking - Other Park - 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Other 9.00 TOTAL $120.00 $20.00 $70.00 $301.00 $245.00 $245.00 $70.00 $20.00 $0.00 Total Highimpad lndivkhods 28,000 90 23,040 9,120 250 60 1,200 600 0 62,360 Taxes Generated Transent Occupancy Tax $0 $0 $0 $223,400 $6,100 $1,500 $0 $0 $0 $231,000 SalesTax 48,300 0 22,500 11,600 200 100 1,200 100 0 84,000 Parking Facilities Tax 11,200 0 9,200 3,600 100 0 500 200 0 24,800 TOTAL $59,500 $0 $31,200 $238,600 $6,400 $1,600 $1,700 $300 $0 $339,800 Santa Monica Civic Auditorium Tax Generation Estimates: Low - Impact Only Subjed Tax Taxes Rote Concerts Symphony Theatrical Convention Consumer Show Corp Other/ SMERF City Use TOTAL Spending per Low -Impact individual Hotel Rooms TOT 14.00% 14.00% $0.00 Hotel Redaurants Sales 1.50% Sales 1.50% $0.00 Other Restaurants Sales 1.50% Othe, Restaurants Sales 1.50% 25.00 25.00 $25.00 Admisson to Shows sales 1.50% 55.00 5.00 5.00 3.00 10.00 5.00 55.00 3.00 $78.00 Rerieation 4500 $208.00 Reaeallon 2.00 $2.00 Sporting Events $2.00 2.00 $2.00 Sightseeing 7.00 Sightseeing $2.00 Shopping Sales 1150% 25.00 40.00 Shopping Sales 1.50% $65.00 Loral Tranport 25.00 25.00 2500 1000 12.00 $85.00 Loral Transport $12.00 Auto Rental Sales 1150% 12.00 7.00 512.[0 Au to Rental $7.00 Gasoline 7.00 4.00 $7.00 $4.00 Parking - Facility Park 10.00% 4.00 4.00 4.00 4.00 4.00 4.00 4.00 $28.00 Parking -Otis, Park - 1.00 1.00 1.00 1.00 1.00 100 1.00 4.00 $7.00 Other Parking - Other Park - 1.00 1.00 9.00 1.00 1.00 L00 1.00 $9.00 TOTAL $8.00 Other $60.00 $10A0 $10.00 $101.00 $55.00 $5.00 $Soo $0.00 $246.00 Total Low -impad individuals $9.00 5,625 1,710 0 320 31,050 380 1,800 1,450 42,335 Taxes Generated $5.00 $0.00 5401.00 Spending per Low - Impact Individual 42,000 1,710 34,560 480 2,250 Ton Sent OCCUpanry Tax 3,600 Logo $o $0 $0 $0 $0 $0 $o $0 $0 SalesTax 4,600 100 0 300 23,300 0 0 0 28,300 Parking FadllllesTax $0 $o 2,300 700 0 100 12,400 200 700 0 16,400 TOTAL 400 800 $6,900 $800 $0 $400 $35,700 $200 $700 $0 541,700 Subjed Taxes Tax Rate Concerts Symphony ,;. Theatrical Convention Corp Small Corp Large Ticketed Rentals 4 -Wall Rentals City Use , TOTAL Spendingparlodividual Hotel Rooms TOT 14.00% $0.00 Hotel Resaurants Sales 1.50% $0.00 Othe, Restaurants Sales 1.50% 25.00 $25.00 Admission to Shows 100.00 5.00 55.00 3.00 4500 $208.00 Reaeallon 2.00 $2.00 Sporting Events 2.00 $2.00 Sightseeing 7.00 $7.00 Shopping Sales 1.50% 25.00 25.00 2500 1000 $85.00 Loral Transport 12.00 512.[0 Au to Rental Sales 1.50°% 7.00 $7.00 Gasoline 4.00 $4.00 Parking- Fadlity Park 10.00% 4.00 4.00 4,00 4.00 4.00 4.00 4.00 4.00 $32.00 Parking - Other Park - 1.00 1.00 L00 1.00 1.00 L00 1.00 1.00 $8.00 Other 9.00 $9.00 TOTAL $105.00 $10.00 $60.00 $101.00 $30.00 $30.00 $60.00 $5.00 $0.00 5401.00 Spending per Low - Impact Individual 42,000 1,710 34,560 480 2,250 540 3,600 Logo 1,000 87,940 Taxes Generated Transient COnpancy Tax $0 $0 $0 $0 $0 $o $0 $0 $0 $0 SalesTax 63,000 100 28,500 400 800 200 3,000 0 0 96,000 Parking FadllllesTax 16,800 700 13,800 200 900 200 1,400 700 0 34,700 TOTAL $79,800 $800 $42,300 $600 $1,700 $400 $4,400 $700 $0 $130,700 Santa Monica Civic Auditorium Economic Impact Summary Event Type Event Days Avg. Attend Total Attend. Hlgh- Attend. Impact Mix levr -Impct Per Cap Per Day Spending Hohimoect L11,opact DIRECT SPENDING HLh- Impact Low - Impact INDIRECT HlgMmwct SPENDING Lars- Impact TOTAL cmcert 5 1,500 7,500 25 1m 75% 75 60 $141,000 $338,000 $99,000 $237,000 $815,000 Symphony 3 coo 1,800 - 95% 2p 10 2,000 17,000 1,000 12,000 32,000 Theatrlcal 0 600 0 - 95% 25 10 0 0 0 0 0 Show Ccregurn 8 800 6,400 9535 5% 300 too 1,824,000 32,000 1,277,000 22,000 3,155,000 rShe,, Cmwmer Shmv 69 500 34,500 10% 90% 75 55 259,000 1,708,000 18,000 1,196,000 3,344,000 Corporate 2 200 400 5% 95% 250 5 5,000 2,090 4,000 4 6,000 12,000 6 300 2,400 20% 75% 150 5 90,000 9,000 63,000 6,000 166,000 Cil,y J,o 24 50 4,450 0 °/o t00% 0 0 0 0 a o 0 TOTAL TOTAL 124 124 59,450 $2,321,000 $2,106,000 $1,625,000 $1,474.000 $7,526,000 J ,, Per Ca, Avg. Total Attend. Mix Per Day Spending DIRECT SPENDING INDIRECT SPENDING Event Type Event Dave Attend Attend, FOer -le,,a I,rvtre,e H.e6- Impact L-1,11 HIQTImpact Lo-Impact MORlmpaat to.- Imptct TOTAL Concert 35 2,000 70,000 40% 60% 125 105 $3,500,000 $4,410,000 $2,450,000 $3,087,000 $13,447,000 Symphony 3 600 1,600 5 114 95% 25 10 2,000 17,000 1,200 62,000 32,000 Theatrical 32 1,800 57,600 40% 60% 75 60 1,726,000 2,074,000 1,210,000 1,452,000 6,464,000 Convention/Gade Shay 12 800 9,500 95% 5% 300 100 2,736,000 4,000 1,915,000 34,000 4,733,000 Corporate - Small 25 100 2,500 105 90% 250 30 63,000 68,000 44,000 48,000 223,000 Corporate- Large 3 200 600 10% 90% 250 30 15,000 16,000 11,000 11,000 53,000 Tideted Rentals 3 600 4,800 25% 75% 75 60 90,000 216,000 63,000 151,000 520,000 Faer -Wall Rentals 8 300 2,400 !`G 75% 25 5 15,000 9,000 11,000 6,000 41,000 City We 20 50 1,000 0 i 100% 0 0 0 0 0 0 0 TOTAL 146 150,300 $8,149,000 $6,858,000 $5,705,000 $4,001,000 $25,513,000 . TOTAL 22 95,650 $5,828,000 $4,752,000 $4,080,000 $3,327,000 $17,987,000