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Report.Wheeler Opera House.Expansion Assessment.2010
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Management consultants for the development and operation of cultural facilities ! Founded in 1997, now starting project #251 ! Clients are cities, arts groups, educators and developers ! Feasibility studies, business plans and strategic plans ! Recent regional work in Glenwood Springs, Snowmass, Crested Butte and Denver Our Practice ! Wheeler Opera House Program & Assessment " What does it do and how does it serve the community ! Needs Assessment " Audience " Users " Existing Facilities " Benefits and impacts ! Facility Recommendations Scope of Services - Done ! Physical Planning " Space program " Site analysis " Order of magnitude capital budget ! Business Planning " Order of magnitude pro-forma budget " Quantitative economic impacts " Qualitative economic impacts Scope of Services – To Do 2 ! One-on-one interviews with potential users, business leadership and community members ! Facility tours and conversations with facility managers ! Review of 3 years of financial data and activity ! Analysis of calendars for Wheeler and competitive venues ! Review of previous Wheeler Opera House plans, studies and presentations Methodology List of Interviewees Jeff Bay Josh Behrman Beth Brandon Debbie Braun Jon Busch Terry Butler Richie Cohen Chip Comins Pam Cunningham Jim Curtis Denis Cyrus Teddy Davis Bill Dinsmore Ron Erickson Pete Estock Harry Feldman Alexa Fitzpatrick Ed Foran Bruce Fretz Michael Goldberg Steve Goldenberg Julia Hansen Mick Ireland Jack Johnson Jane Kelly Junee Kirk Helen Klanderud Warren Klug Andrew Kole Kim Kuliga David Ledingham Mathew Loden Pete Louras Mike Maple Amy Margerum Mike Marolt Natalie McMenemy Elizabeth Milias Deborah Muziker Brian O'Neil Stewart Oksenhorn Paige Price Kent Reed Rachel Richards John Rigney Liz Shapiro Lee Sullivan Laura Thielen Andrew Todd Bob Wade Tom Ward Bill Wiener ! The Wheeler is a busy and active space, with a diverse set of users and uses, many not needing 500 seats ! The seasonality of the market, the small capacity of the theater, the limited resources of renters and the desire of the City to bring high-quality programs to the area create significant operating challenges ! The physical limitations of the space inhibit utilization and operating efficiencies ! The theater serves resident and visiting audiences, local artists/organizations, and the broader goals of the community Conclusions ! The local and regional markets, as well as second home owners, are highly educated, suggesting strong propensity to participate in the arts ! Non-resident visitors are active participants in the arts, and make up a significant percentage of the market in the high season ! User demand shows demand for a small-scale flexible space able to accommodate a range of activities ! There are significant limitations with existing facilities, both physically and operationally ! Work by the city confirms the important role to be played by the arts and arts facilities in achieving a shared vision for the future Conclusions 3 ! New Space " A new space with a capacity that can adjust between 150-250 seats for rehearsals, performances, classes and other events " Flexible seating configuration – theater-style, tables and chairs, flat floor, etc. ! Expanded Wheeler Facilities " Support space, including administrative space and dressing rooms " Food service capability for public performances and special events " Improved public spaces, including a larger lobby and other patron amenities Recommendations ! Mission " “The mission of the Wheeler Opera House is to monitor and ensure the preservation and viability of the historic venue and its property through exceptional performance experiences for residents, guests and performers, and to support the cultural assets of the Roaring Fork Valley.” ! Programming " Presenting ! Wheeler Opera House presenting and co-produced events ! Community Events ! Contract with music festival for summer use, running through 2034 " Rentals " Film Screenings (Wheeler Film Society) Wheeler Opera House 11 " Researched activity levels, income and expenses and staffing levels " Facilities are comparable in size and/or location " Capacities range from 215 to 690 Comparable Facilities 4 ! Presenting levels are consistent with Wheeler Sponsored Events and Co-productions ! Comparatively, the Wheeler is an incredibly busy space. Only the Rialto Theater has similar levels of use Comparable Facilities ! Operating budgets range from $500K to $3.5 million ! Ticket income accounts for 23% to 87% of earned income ! All of these spaces have higher percentages of earned income as a % of operating expenses Comparable Facilities ! Staffing levels are variable and range from 4 to 17 ! The Vilar PAC has the largest staff, which includes dedicated marketing, fundraising and finance staff ! Only the Rialto Theatre personnel and the Wheeler are staffed by City employees ! The Wheeler’s human resource expenses (as a percent of operating expenses) are the lowest Comparable Facilities ! Activity " Busy and active space, subject to much wear and tear " Presenting and co-producing activities inherently risky " Very much a community facility, offering low-cost access and grants to local groups " Outside rentals have decreased since 2007 " Dominated by the Music Festival during key summer weeks " Heavily utilized for film screenings, which don’t generate significant income or attendance Conclusions 5 ! Financial Analysis " Not surprisingly, the successful operation of the Wheeler is dependant on revenue from the RETT " Income has increased in 2009 (and projected 2010), due to the addition of investment interest, increased ticket sales and lease revenues " Operating expenses have also increased, due to an increase in programming expenses " In researching similar facilities, we found that the Wheeler’s activity levels were higher, but earned income and staffing levels were lower than comparable facilities Conclusions ! Resident Population ! Aspen ! Pitkin County ! 30-mile Radius – typical pull for 80% of the audience ! Second Home Owners ! Non-resident Visitors (i.e. tourists) Market Assessment Market Definition Full-time Market Size Source: Nielsen Claritas 6 Full-time Market Assessment Source: Nielsen Claritas Source: Nielsen Claritas Market Assessment Source: Nielsen Claritas Market Assessment Source: Nielsen Claritas 7 Source: Nielsen Claritas ! 2008 Aspen Area Community Plan Survey " Survey included 115 second home owners " Empty nesters and retirees ! 39% between 55-64 ! 38% 65+ " Predominantly white " Highly educated ! 90% had a bachelors degree or higher ! 66% had a graduate or professional degree " Very affluent ! 78% have incomes of $200,000 or above ! 27% have incomes of $1M or above Second Home Owners " In Aspen, non-residents own more than half of the residential/condo parcels " A 2008 study completed by ERA indicated that second homeowners are the primary drivers of economic activity in Aspen ! Aspen’s population swells to 27,000 in peak months, and short-term visitors total 300,000 annually ! Annually, visitors account for $533 million in basic spending ! 2004 Leeds School of Business study " Collected 777 surveys from participants at Aspen arts events. " Summer: ! 34.8% of all survey respondents indicated they were visiting Aspen for vacation/pleasure ! 9.5% of all survey respondents indicated they were visiting family and friends " Winter: ! 22.9%of all survey respondents indicated visiting Aspen for vacation/ pleasure ! 5.1% of all survey respondents were visiting family/friends " Responses include “I live here,” business, group tour… Non-Resident Visitors & Tourists 8 ! The local market has a small year-round population that is highly educated, older, affluent and predominantly white ! Pitkin County and the 30-mile radius are more diverse, and are relatively affluent, older and educated ! The population in the local and regional markets is aging, suggesting increasing numbers of retirees ! Second home owners are highly educated and affluent, and have excellent propensity to attend arts events ! Non-resident visitors and tourists are active participants in the Arts in Aspen, accounting for at least one-third of arts audiences in the peak seasons Market Conclusions ! Researched facilities used for cultural activities in Aspen and the region ! Toured existing facilities and interviewed facility managers ! Rated facilities on physical characteristics and the types of activity hosted in each space ! Facilities are also rated using 8 variables: 1. Facility Condition 2. Staff and support 3. Theatrical functionality 4. Room acoustics 5. Customer amenities 6. Performer amenities 7. Atmosphere and character 8. Suitability for users Existing Facilities ! In Aspen, there are 24 venues regularly used for performances and events " 80 to 4,000 seats " 5 are outdoors or are considered seasonal venues " 9 venues are in churches, schools, libraries or hotels " 52% are rented by local arts organizations " Programming is relatively diverse: ! 28% present film ! 31% present cultural events ! 19% present music ! 36% produce music ! 12% produce theater Aspen Facilities 9 ! Regionally, there are an additional 10 venues " 60 to 8,000 seats " Almost all regional facilities have dedicated on-site parking. " 4 are located in churches, schools or hotels " 56% rent to Aspen arts groups and 67% rent to Valley-wide arts groups " Presenting is limited in the regional market " 19% produce theater Regional Facilities Facility Attributes District Theatre ! Excellent facility for dance and theatre ! There is additional daytime use by the school ! Limitations of performing on a school campus ! Activity Analysis Black Box ! Dominated by school use ! Difficult for outside groups to book and hold dates ! Concerns about future availability ! Moderate functionality 10 ! Activity Analysis Harris Hall ! Very much a music facility ! Limited staff to book and operate for outside renters ! Little inclination on the part of the Festival to make it a more active facility ! The District Theatre and the Black Box are very busy, serving a distinct set of key users, most importantly the school district ! Harris Hall, largely considered a seasonal venue, is very busy during the high season and used almost exclusively by the Music Festival ! Within the 30-mile radius, there exist a number of non- traditional venues utilized for arts events, including churches, school auditoria, hotel ballrooms and movie theaters ! The market is relatively competitive and is home to well established music, dance and theater producers and presenters Facility Conclusions ! In Aspen, there are few well-equipped small-scale performance venues " The Black Box, which has limited amenities and function as a performance space, is heavily utilized for classes and education events and has little access for community events " Many facilities are in non-traditional performance spaces that are not suitable for public events " Aside from film, there is a gap in the market for presented events in an intimate setting ! The Wheeler is well positioned as an affordable community-oriented venue located in downtown Aspen " The Wheeler’s presenting and co-producing compliments Aspen’s competitive market " Community events and rentals provide access to one of the most desirable facilities in Aspen Facility Conclusions ! External demand for a 100 to 299-seat facility includes 89 performances, 58 on-stage rehearsals and 51 other uses ! Additionally, interviews with local arts groups also found that facilities that can be used for rehearsal and education are in strong demand Local Demand for New Facilities 11 ! 2007 Civic Master Plan, City of Aspen " Accommodate as many additional needs of the local arts community as possible " Improve the operational function of the Wheeler Opera House " Contribute to improvements in the daytime administrative office and box office " Contribution to the Wheeler’s ability to present more live performances and to improvements in production capabilities Relating to Community Goals ! Improvements to the Wheeler would: " Provide facilities for emerging and established local arts organizations " Be in support of cultural tourism and the local economy " Potentially increase the number of Wheeler Sponsored Events and Co-productions " Preserve and improve an important historical asset " Increase foot traffic, benefiting restaurants and nightlife establishments " Affirm Aspen’s core as a hub for arts and cultural activity Relating to Community Goals ! Incorporate comments and feedback into our work ! Physical Planning " Space program " Site analysis " Order of magnitude capital budget ! Business Planning " Order of magnitude pro-forma budget " Quantitative economic impacts " Qualitative economic impacts Next Steps ! The Wheeler serves the community under challenging physical constraints ! There is an audience for additional programming ! There are a number of local groups looking for small and flexible spaces ! There are physical and access challenges with existing facilities ! New and expanded facilities serve the goals of the community, as long as there is a commitment and understanding of the investment required to build and sustain the arts as a vital element of community life Conclusions Revisited 12 ! New Space " A new space with a capacity that can adjust between 150-250 seats for rehearsals, performances, classes and other events " Flexible seating configuration – theater-style, tables and chairs, flat floor, etc. ! Expanded Wheeler Facilities " Support space, including administrative space and dressing rooms " Food service capability for public performances and special events " Improved public spaces, including a larger lobby and other patron amenities Recommendations !""#$%&'()*(+!,-#.()/!,.0(!$%(1,!"/0( 23(+45678(%79:;54<=>?@( (!3(!;7(%>@85>AB8>:C( ( ( ( ( ( ( 0% 5% 10% 15% 20% 25% 30% 35% 40% Age 17 and under Age 18 to 34 Age 35 to 54 Age 55 to 64 Age 65+ Age Distribution Aspen Pitkin County 30-mile Radius USA 0% 5% 10% 15% 20% Age 18 to 20 Age 21 to 24 Age 25 to 34 Age 35 to 44 Age Distribution (Young Adult Segments) Aspen Pitkin County 30-mile Radius USA ! ! ! ! ! ! ! ! ! ! ! ! !! ! ! ! "#!$%&'()*+,(-!.))(*,/0,)! ! 0% 5% 10% 15% 20% 25% 30% Age 55+ Age 17 and younger The Market Today: Young and Old Population Segments USA 30-mile Radius Pitkin County Aspen 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% High School Graduate Some College, No Degree Associate Degree Bachelor's Degree Graduate or Prof Degree Educational Attainment Aspen Pitkin County 30-mile Radius USA ! ! ! ! ! ! ! ! ! ! ! !! ! "#!$%&'()%*+!,-.%/(!01'2314&21%-! 0% 10% 20% 30% USA 30-mile Radius Pitkin County Aspen Educational Attainment Bachelor's Degree and Higher Graduate Degree and higher Bachelors Degree and higher 0% 5% 10% 15% 20% 25% 30% Less than $24,999 $25,000 to $49,999 $50,000 to $74,999 $75,000 to $99,999 $100,000 to $149,999 $150,000 or more Household Income Distribution Aspen Pitkin County 30-mile Radius USA !! "#!$%&'%(!)*+,*-'.'*/! !! 0#!1%234.!524/6-! !7#!8*,9(%.'*/!:2*;.<! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% White Hispanic or Latino Asian Black or African American American Indian or Alaska Native Other Racial Distribution Aspen Pitkin County 30-mile Radius USA 0 10,000 20,000 30,000 40,000 50,000 60,000 Aspen Pitkin County 30-mile Radius Population Growth 1990 2000 2009 2014 !"#!$%&'()!*)+,-%!./%)&! ! ! 0#!12%!./%)&3! ! ! ! $35,000 $45,000 $55,000 $65,000 $75,000 $85,000 2000 2009 2014 Median Household Income Trend USA 30-mile Radius Pitkin County Aspen 0% 5% 10% 15% 20% 2000 2009 2014 Young Population Trend: Aspen 18 to 24 years 10 to 17 years 0 to 9 years 0% 5% 10% 15% 20% 2000 2009 2014 'Empty Nester' and 'Retiree' Population Trend: Aspen 65 to 74 years 55 to 64 years 45 to 54 years ! ! "#!$%&'()!*'!+,-*,.!/0120)*3*0'! ! ! ! ! ! ! 0% 5% 10% 15% 20% 2000 2009 2014 Young Population Trend: 30-mile Radius 18 to 24 years 10 to 17 years 0 to 9 years 0% 5% 10% 15% 20% 2000 2009 2014 'Empty Nester' and 'Retiree' Population Trend: 30-mile Radius 65 to 74 years 55 to 64 years 45 to 54 years 0% 2% 4% 6% 8% 10% 2000 2009 2014 Trend in Racial Composition: Aspen Black or African American Asian Hispanic or Latino 0% 5% 10% 15% 20% 25% 30% 2000 2009 2014 Trend in Racial Composition: 30-mile Radius Black or African American Asian Hispanic or Latino Appendix D Webb Management Services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ppendix D Webb Management Services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ppendix D Webb Management Services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ppendix D Webb Management Services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spen Facility Features Appendix D Webb Management Services 9/8/10 Aspen Facility Features !"#$%&'()"$*(+%',(-.,""/(012%3"$%#400 1 1 1 1 1 1 -&"45#66(7,#89/200 1 1 1 1 1 1 0&29$6"&(!#&.,(:99;&'(+#//100 1 1 1 1 1 1 -%/<9$(=$99(+"39/>(=,9(7#?#$93(!""5 100 1 1 1 1 =,1&29$(!%<9$(=,9#3$9(7"58#&@ 99 1 1 1 1 -39<96(A1%3#$6 60 1 100%15%26%0%38%21%32%12%29%29%3%21%12%53%Café/RestaurantFilm Space/EquipmentFlexible seatingOutdoor / Seasonal VenueKitchen FacilitiesLarge LobbyRehearsal or Program SpaceOther Event SpaceFly SpaceBox OfficeDressing RoomsDedicated ParkingProportion of Facilities with Feature !""#$%&'(#)($#*(+!,&-&./(0"!,#("1231!4 Program for new freestanding performance space Space occupancy sf or unit per occ. qty area total Performance Spaces Theater (299)250 12 1 3000 3000 dimmer room 1 150 150 amplifier rack room 1 120 120 seating unit storage 1 200 200 follow spots rigging catwalk projection control booth 2 1 150 150 audio booth 1 1 100 100 off stage area 1 400 400 subtotal 4120 Back of house performer’s lounge 16 1 250 250 kitchenette 1 25 25 restrooms 2 50 100 star dressing room 1 1 140 200 large dressing room A 12 1 300 300 dressing rooms 2 50 200 admin./repair shop/laundry 1 120 120 piano storage 1 150 150 subtotal 1345 Front of house lobby 250 5 1 1250 1250 ticket counter 5lf /100 1 120 120 concessions 5lf/200 1 100 100 restrooms 1wc/25 2 200 400 ticket office 1 100 100 subtotal 1970 total net sf 7435 25% Grossing Factor 1858.75 total Gross SF 9293.75 Note: Grossing factor includes space used exclusively for Wheeler Opera House Expansion Site Evaluations Sites Under Consideration Adjacent to Wheeler Motherlode Crystal Palace Steak Pit Ruth Chris Hyman and Hunter City Hall Weinerstube Parking Lot Given Institute Stage 3 Site Galena Plaza Rio Grande Building Aspen Art Museum Site Description emptly lot of 7,000 +_ sf with trees in front unused building for sale unused building for sale unused building for lease unused building for lease empty 9000 sf lot potential adaptive re- use if City offices are to move empty 10,800 sf lot unused building for sale building under construction to be auctioned underutilized space could be redeveloped potential adaptive re- use if City offices are to move potential adaptive re- use if Museum moves 90' x 60' 5.400 sf 24,000 60'x120' 7,200 SF Site Evaluation Criteria Location physical relationship to Wheeler, shared space operating efficiences ideal excellent good possible possible none none none none none none none nonesubjective psychological location best maybe a little strangegood associations with previous use, Shubert Alley? doesn't feel too good to mesame good very good good where?not great proximity to amenities middle of town edge of core somewhat isolated from bars and restaurants pedestrian access good vehicular access difficult during events parking not good limeted but some Event parking already problematic access for deliveries not great compatbility with adjacent uses very compatible St. Mary's residential residences and library positive impact on nearby uses positive residences and library Size lot size 7000 9000 10800 24,000 7200 big enough building envelope 7000 big enough big enoughexisting structure with suitable volumes and spaces no existing structurelow ceiling low ceiling limite acesslow ceiling limite acessno structure no structure possible structural problems Availability avaiable?city owns requires city hall to moveArt Museum established park requires art museum to move aproximate cost city owned city owned constraints codes and regulations Constructability construction access adjacent buildings and roads requires extensive shoring staging areas none utilities ? disruption will disrupt an intensely active portion of town Amenities views idea adjacent parks sun vegetation Assets and benefits Preservation of open space Preservation of historic structure brown site adaptive reuse Costs Cost to acquire and develop possible public/ private depends on amount of adaptation required KEY very good ok unknown not so good problematic !""#$%&'()*(+&,#(#-!./!,&0$(1!,2&' !""#$%&'()*(+"!,#("-.)-!/(,./"!-&+.$ Gross Area Comparison between Combined and Separate Theaters 9/17/09 PUD submission new construction new construction combined for conceptual review adjacent to WHO free-standing theater freestanding theater (from 9/17/2009 plans)(from test designs)(from new program)and adjacent expansion levels 7434 NSF 1.25 GF level 4 (5400 SF green roof)(+ green roof)476 GSF level 3 5387 GSF 4100 GSF level 2 5336 GSF 3948 GSF level 2 decks and balconies balcony 364 GSF balcony 210 GSF level 1 5400 GSF 3948 GSF lower level 1 0 GSF 3948 GSF lower level 2 3937 GSF 0 GSF lower level 3 7780 GSF 0 GSF total constructed area 28204 GSF 16630 GSF 9292.5 GSF 25922.5 GSF Delta 2281.5 GSF Wheeler Opera House and Expansion Pro-forma Operating Budget Webb Management Services, Inc.H-1 9/16/10 APPENDIX H: PRO-FORMA OPERATING BUDGET Pro-forma Operating Budget FY 2007 % Change FY 2008 % Change FY 2009 % Change FY 2010 % Change FY 2011 % Change FY 2012 % Change FY 2013 % Change FY 2014 % Change FY 2015 % Change FY 2016 ACTIVITY Forecast Forecast Forecast Forecast Forecast Forecast Forecast Wheeler Opera House Activity Presented Events Performances 8 17 49 50 56 56 56 10%62 10%68 5%71 Event Days 8 13 29 33 39 40 40 10%44 10%48 10%53 Paid Attendance 2,360 4,501 8,332 6,791 7,986 8,385 8,804 10,653 12,890 14,888 Capacity Sold 59%53%34%27%5%28%5%30%5%31%10%34%10%38%10%42% Wheeler Box Office $79,815 $174,704 $202,431 $169,763 $203,634 $218,091 $233,576 $291,106 $362,805 $431,611 Average Ticket Price $34 $39 $24 $25 2%$26 2%$26 2%$27 3%$27 3%$28 3%$29 Rent Paid $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Ancillary Income per Capita $1.09 $1.04 $3.54 $3.20 -45%$1.76 25%$2.20 2%$2.25 10%$2.47 5%$2.59 5%$2.72 Ancillary Income $2,576 $4,679 $29,483 $21,750 $14,068 $18,464 $19,775 $26,321 $33,440 $40,555 Co-productions Performances 18 20 10 10 10 10 10 5%11 5%11 5%12 Event Days 20 16 14 10 10 10 10 5%11 5%11 5%12 Paid Attendance 5,598 4,421 3,894 3,873 3,873 3,873 3,873 4,067 4,270 4,484 Capacity Sold 62%44%77%77%77%77%77%77%77%77% Wheeler Box Office $214,185 $55,775 $132,395 $131,684 $134,318 $137,004 $139,745 $151,134 $163,451 $176,772 Average Ticket Price (Wheeler Share)$38 $13 $34 $34 2%$35 2%$35 2%$36 3%$37 3%$38 3%$39 Rent Paid $100 $126 $0 $0 2%$0 2%$0 2%$0 3%$0 3%$0 3%$0 Ancillary Income per Capita $1.54 $1.23 $1.29 $1.25 -45%$0.69 25%$0.86 25%$1.07 10%$1.18 3%$1.22 3%$1.25 Ancillary Income $8,643 $5,421 $5,004 $4,841 $2,663 $3,328 $4,161 $4,805 $5,197 $5,621 Rentals (Excluding Aspen Music Festival) Performances 106 98 76 72 79 2%81 2%82 5%86 5%91 5%95 Event Days 81 81 63 66 86 2%88 2%89 10%98 10%108 10%119 Paid Attendance 28,818 26,597 24,256 22,816 25,034 25,535 26,046 27,348 28,715 30,151 Capacity Sold 54%54%63%63%63%63%63%63%63%63% Gross Box Office $431,791 $465,613 $365,036 $350,234 $391,970 $407,805 $424,281 $458,859 $496,257 $536,701 Average Ticket Price $15 $18 $15 2%$15 2%$16 2%$16 2%$16 3%$17 3%$17 3%$18 Rent Paid $96,122 $74,137 $53,842 $22,050 $24,678 $25,675 $26,712 $28,889 $31,243 $33,790 Average Rental Fee per Performance $907 $757 $708 $306 2%$312 2%$319 2%$325 3%$335 3%$345 3%$355 Ancillary Income per Capita $0.98 $0.96 $0.80 $1.75 -45%$0.96 25%$1.21 2%$1.23 10%$1.35 3%$1.39 3%$1.43 Ancillary Income $28,254 $25,475 $19,495 $40,000 $24,139 $30,777 $32,020 $36,984 $39,998 $43,258 Wheeler Film Society Screenings 154 192 155 145 145 145 145 73 73 73 Event Days 154 192 155 145 145 145 145 73 73 73 Paid Attendance 7,254 9,746 6,676 7,294 6,564 6,564 6,564 3,282 3,282 3,282 Capacity Sold 9%10%10%10%9%9%9%9%9%9% Gross Box Office $54,275 $82,326 $56,522 $63,000 $63,000 $64,260 $65,545 $33,756 $34,768 $35,812 Average Ticket Price $7 $8 $8 $9 $10 2%$10 2%$10 3%$10 3%$11 3%$11 Rent Paid $7,990 $11,504 $7,965 $5,000 $5,100 $5,202 $5,306 $2,733 $2,815 $2,899 Ancillary Income per Capita $1.81 $1.82 $1.79 $0.69 -45%$0.38 25%$0.47 5%$0.49 10%$0.54 3%$0.56 3%$0.58 Ancillary Income $13,129 $17,765 $11,977 $5,000 $12,406 $3,094 $3,248 $1,787 $1,840 $1,895 Community Events Performances 18 9 23 20 20 20 20 20 20 20 Event Days 18 9 23 20 20 20 20 20 20 20 Attendance 3,680 1,991 5,064 0 0 0 0 0 0 0 Gross Box Office $0 $0 $6,040 0 0 0 0 0 0 0 Rent Paid $2,103 $0 $682 0 0 0 0 0 0 0 Ancillary Income $1,697 $10 ($1,862)$0 $0 $0 $0 $0 $0 $0 Aspen Music Festival Event Days 23 21 21 20 20 20 20 20 20 20 Total Use Days 70 70 70 70 70 70 70 70 70 70 Attendance 7,088 2,644 1,942 2,515 2,515 2,515 2,515 2,515 2,515 2,515 Average Capacity Sold 61%25%18%25%25%25%25%25%25%25% Rent Paid $7,655 $7,289 $8,628 $7,300 $7,300 $7,300 $7,300 $7,300 $7,300 $7,300 Ancillary Income $2,387 $3,230 $1,526 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 Total Activity Performances/Screenings 337 367 337 317 330 332 333 271 282 290 Event Days 330 330 330 330 330 330 330 315 330 346 Attendance 55,105 49,900 50,565 43,288 45,972 46,872 47,802 47,865 51,673 55,320 Wheeler Opera House and Expansion Pro-forma Operating Budget Webb Management Services, Inc.H-2 9/16/10 Pro-forma Operating Budget FY 2007 % Change FY 2008 % Change FY 2009 % Change FY 2010 % Change FY 2011 % Change FY 2012 % Change FY 2013 % Change FY 2014 % Change FY 2015 % Change FY 2016 New Theater Live Presentations Performances 14 13 14 Event Days 10 12 12 Rehearsal/Prep Days 2 2 2 Total Use Days 12 14 14 Paid Attendance 2,450 2,178 2,380 Capacity Sold 70%67%68% Wheeler Box Office $66,150 $60,556 $68,173 Average Ticket Price $27.00 3%$27.81 3%$28.64 Ancillary Income per Capita $1.25 3%$1.29 3%$1.33 Ancillary Income $3,063 $2,804 $3,156 Rent Collected 0 0 0 Film Presentations Screenings 16 18 20 Event Days 8 9 10 Rehearsal/Prep Days 0 0 0 Total Use Days 8 9 10 Paid Attendance 2,000 2,025 2,500 Capacity Sold 50%45%50% Wheeler Box Office $24,000 $25,029 $31,827 Average Ticket Price $12.00 3%$12.36 3%$12.73 Ancillary Income per Capita $1.50 3%$1.55 3%$1.59 Ancillary Income $3,000 $3,129 $3,978 Rent Collected 0 0 0 Nonprofit Rentals Performances 40 44 46 Event Days 36 40 42 Rehearsal/Prep Days 36 40 42 Total Use Days 72 80 84 Paid Attendance 5,500 6,050 6,325 Capacity Sold 55%55%55% Gross Box Office $148,500 $168,251 $181,175 Average Ticket Price $27.00 3%$27.81 3%$28.64 Ancillary Income per Capita $2.00 3%$2.06 3%$2.12 Ancillary Income $11,000 $12,463 $13,420 Event Day Rental Rate $500 3%$515 3%$530 Prep Day Rental Rate $250 3%$258 3%$265 Rent Collected $27,000 $30,900 $33,418 Commercial Rentals Performances 20 22 24 Event Days 18 20 22 Rehearsal/Prep Days 9 10 11 Total Use Days 27 30 33 Paid Attendance 2,500 2,750 3,000 Capacity Sold 50%50%50% Gross Box Office $75,000 $84,975 $95,481 Average Ticket Price $30.00 3%$30.90 3%$31.83 Ancillary Income per Capita $2.00 3%$2.06 3%$2.12 Ancillary Income $5,000 $5,665 $6,365 Event Day Rental Rate $1,000 3%$1,030 3%$1,061 Prep Day Rental Rate $500 3%$515 3%$530 Rent Collected $22,500 $25,750 $29,175 Total Activity Performances/Screenings 90 97 104 Use Days 119 133 141 Attendance 12,450 13,003 14,205 Wheeler Opera House and Expansion Pro-forma Operating Budget Webb Management Services, Inc.H-3 9/16/10 Pro-forma Operating Budget FY 2007 % Change FY 2008 % Change FY 2009 % Change FY 2010 % Change FY 2011 % Change FY 2012 % Change FY 2013 % Change FY 2014 % Change FY 2015 % Change FY 2016 EARNED INCOME Wheeler Sponsored Ticket Sales Wheeler Opera House 295,755 -23%229,002 46%334,507 -10%301,447 12%337,952 5%355,096 5%373,321 18%442,239 19%526,256 16%608,383 New Theater 66,150 -8%60,556 13%68,173 Box Office Ticket Commissions & Processing Fees 126,547 154,825 149,727 146,000 158,723 165,250 172,089 224,030 248,158 275,545 Wheeler Film Society Rent Received 8,005 11,504 7,965 5,000 5,100 5,202 5,306 2,733 2,815 2,899 Ancillary Sales 50,500 46,882 50,474 53,000 55,276 57,663 61,205 90,896 103,732 117,093 Theatre Rental Wheeler Opera House 52,021 30,017 24,397 29,350 37,078 38,177 39,318 38,921 41,358 43,989 New Theater 49,500 56,650 62,593 Reimb of rental related material expenditures 6,893 12,326 4,327 2,000 2,595 2,672 2,752 6,190 6,861 7,461 Reimb of rental related labor expenditures 48,665 55,622 38,126 39,730 51,909 53,447 55,045 123,790 137,211 149,214 Other Misc Revenues 16,951 30,505 9,882 5,000 2%5,100 2%5,202 2%5,306 3%5,465 3%5,629 3%5,798 Sponsorship/Ads Rev/Grants 900 10,000 15,000 15,000 15,000 15,000 15,000 15,000 Investment Interest 1,419,851 1,190,213 816,258 556,980 257,883 410,000 468,000 204,000 102,000 84,000 Total Earned Income 2,026,088 -13%1,760,896 -18%1,435,663 -20%1,148,507 -19%926,615 20%1,107,710 8%1,197,341 6%1,268,914 3%1,306,226 10%1,440,149 OPERATING EXPENSES Administration 590,433 25%735,401 -6%693,451 2%705,120 2%719,222 2%733,607 2%748,279 10%823,107 3%847,800 3%873,234 Tech Wheeler Opera House 171,957 7%184,470 5%193,816 9%211,660 259,407 269,238 277,677 310,125 346,707 387,965 New Theater 47,600 54,796 59,835 Building/Physical Plant Wheeler Opera House 339,449 368,629 437,401 432,440 441,089 449,911 458,909 472,676 486,856 501,462 New Theater 212,704 219,085 225,658 Programming Wheeler Opera House 519,458 -5%491,485 25%614,069 39%856,350 469,835 493,669 519,006 530,687 578,882 608,383 New Theater 90,150 85,585 100,000 Box Office Operations 238,414 8%257,464 20%309,987 10%340,220 368,541 383,271 398,692 518,146 572,273 633,641 Theatre Rentals 12,393 16,665 17,345 17,250 21,792 22,438 23,108 51,968 57,603 62,642 Ancillary Operations 42,523 39,238 47,688 51,030 2%52,051 2%53,092 2%54,153 10%59,569 3%61,356 3%63,197 Overhead Allocations *239,720 5%251,950 0%251,050 37%344,990 2%351,890 2%358,928 2%366,106 3%377,089 3%388,402 3%400,054 2,154,347 9%2,345,302 9%2,564,805 15%2,959,060 -9%2,683,826 3%2,764,153 3%2,845,932 23%3,493,822 6%3,699,346 6%3,916,071 Result of Operations (128,259)356%(584,406)93%(1,129,142)60%(1,810,553)-3%(1,757,211)-6%(1,656,443)0%(1,648,590)35%(2,224,908)8%(2,393,120)3%(2,475,923) Non-Wheeler Operating Items Lease Revenues 212,182 219,028 185,419 188,000 92,711 189,129 192,912 198,699 204,660 210,800 Arts Non-Profit Grants (365,380)5%(385,100)4%(400,000)-11%(355,000)-3%(345,000)16%(400,000)0%(400,000)0%(400,000)0%(400,000)0%(400,000) Leased Space Improvements (7,988)(3,605)(1,215)(5,000)2%0 2%0 2%(5,000)3%(5,150)3%(5,305)3%(5,464) Final Result (289,445)(754,083)(1,344,938)(1,982,553)(2,009,501)(1,867,313)(1,860,678)(2,431,358)(2,593,764)(2,670,586) Earned Income as % of Operating Expenses 94%75%56%39%35%40%42%36%35%37% Wheeler Opera House and Expansion Pro-forma Operating Budget Webb Management Services, Inc.H-4 9/16/10 Pro-forma Operating Budget FY 2007 % Change FY 2008 % Change FY 2009 % Change FY 2010 % Change FY 2011 % Change FY 2012 % Change FY 2013 % Change FY 2014 % Change FY 2015 % Change FY 2016 FORMULAS, RATIOS AND MARGINS Annual Inflation Rate 2%2%2%2%2%3%3%3% Wheeler Opera House Capacity 503 503 503 503 503 503 503 503 503 503 Wheeler Opera House GSF 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 New Theater Capacity 250 250 250 New Theater GSF 15,000 15,000 15,000 Box Office Ticket Commissions & Processing Fees Total Paid Attendance (excl. AMF)44,030 45,265 43,158 40,773 43,457 44,357 45,287 57,800 62,160 67,010 Box Office Income Per Capita $2.87 $3.42 $3.47 $3.58 2%$3.65 2%$3.73 2%$3.80 2%$3.88 3%$3.99 3%$4.11 Wheeler Film Society Rent Rent Paid per screening $51.88 $59.92 $51.39 $34.48 2%$35.17 2%$35.88 2%$36.59 3%$37.69 3%$38.82 3%$39.99 Reimb of rental related material expenditures As a Percentage of Rent Collected 13.25%41.06%17.74%6.81%7.00%7.00%7.00%7.00%7.00%7.00% Reimb of rental related labor expenditures As a Percentage of Rent Collected 93.55%185.30%156.27%135.37%140.00%140.00%140.00%140.00%140.00%140.00% Investment Interest Average Principal Amount $19,903,765 $24,236,710 $26,318,380 $27,897,005 $25,788,260 $20,500,000 $15,600,000 $6,800,000 $3,400,000 $2,800,000 Average Rate of Return 7%5%3%2%1%2%3%3%3%3% Tech Costs per Use Day (excl. WFS and AMF days) Wheeler Opera House $1,354 $1,550 $1,502 $1,641 2%$1,674 2%$1,707 2%$1,741 3%$1,793 3%$1,847 3%$1,903 New Theater $400 3%$412 3%$424 Building/Physical Plant Costs/sf Wheeler Opera House $13.58 $14.75 $17.50 $17.30 2%$17.64 2%$18.00 2%$18.36 3%$18.91 3%$19.47 3%$20.06 New Theater $14.18 $14.61 $15.04 Programming Costs as a % of Box Office (presenting and co-production) Wheeler Opera House 177%213%139%139%139%139%139%120%110%100% New Theater 100%100%100% Box Office Operating Costs per Attender $4.33 $5.16 $6.13 $7.86 2%$8.02 2%$8.18 2%$8.34 3%$8.59 3%$8.85 3%$9.11 Theater Rental Costs as a % of Rental Income 24%56%71%59%59%59%59%59%59%59% Lease Revenues from Ancillary Spaces Gross Square Footage of Leased Space 2,850 2,850 2,850 2,850 2,850 2,850 2,850 2,850 2,850 2,850 Average Lease Rate/Square Foot $74.45 $76.85 $65.06 $65.06 $65.06 2%$66.36 2%$67.69 3%$69.72 3%$71.81 3%$73.96 Summary of Activity and Financial Performance FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 Budget Forecast Forecast Forecast Forecast Forecast Forecast Financial Performance Wheeler Opera House Performances/Screenings 317 330 332 333 271 282 290 Use Days 330 330 330 330 315 330 346 Attendance 43,288 45,972 46,872 47,802 47,865 51,673 55,320 New Theater Performances/Screenings - - - - 90 97 104 Use Days - - - - 119 133 141 Attendance - - - - 12,450 13,003 14,205 Financial Performance Earned Income $1,148,507 $926,615 $1,107,710 $1,197,341 $1,268,914 $1,306,226 $1,440,149 Operating Expenses $2,959,060 $2,683,826 $2,764,153 $2,845,932 $3,493,822 $3,699,346 $3,916,071 Operating Result ($1,810,553)($1,757,211)($1,656,443)($1,648,590)($2,224,908)($2,393,120)($2,475,923) Final Result/Annual Funding Requirement ($1,982,553)($2,009,501)($1,867,313)($1,860,678)($2,431,358)($2,593,764)($2,670,586) % of Budget Coverd by Earned Income 39%35%40%42%36%35%37%