K-Rock Centre 2009 Operating Budget

[posting]

The following report on the K-Rock Centre (KRC) 2009 Operating Budget will be considered by Kingston City Council at its meeting to be held on December 16, 2008.

-- Kingston Electors


K-Rock Centre 2009 Operating Budget

THAT Council receive the Arcturus/SMG 2009 operating budget submission reflecting net profit from operations of $1,114,024 (net of the annual capital reserve contribution of $100,000), which exceeds the $1,112,608 financial performance benchmark contained in the operator’s management agreement and which is also reflected in the City’s 2009 operating budget.

(The Report of the Commissioner of Corporate Services (09-029) is attached as Schedule Pages 57-71)
(File No. CSU-R05-001-2009)

Click here (http://www.cityofkingston.ca/pdf/council/agenda/2009/A02_Rpt06.pdf) to see the report to City Council

[Dogma]

What economic rewards does a Sports & Entertainment Centre present to the Kingston community?

There is no "line item" in the business plan for the LVEC that specifically includes the United States as a stakeholder to the economic development of the LVEC now or in the future.

That's why it is called: a "Regional Sports and Entertainment Centre" as oppose to a Toronto "International" Centre.

A copy of the Economic, Market Impact Analysis Report is posted to the web site at: http://www.cityofkingston.ca/residen...arketstudy.asp (http://www.cityofkingston.ca/residents/recreation/arenas/sports-entertainment-centre/marketstudy.asp)

A: The economic benefits a Sports & Entertainment Centre will bring to Kingston are estimated to be in the range of $20 million each year. The financial details to support this figure are outlined in the city's original Sports & Entertainment Centre Business Plan and later confirmed by the Kingston Economic Development Corporation (KEDCO) after hiring Henson Consulting to peer review the estimates.

Such estimates reinforce the importance of the Sports & Entertainment Centre as a "local" community investment.

Also, the KEDCO review concluded that, "Investment in the Sports & Entertainment Centre in conjunction with the other capital investments that the city is undertaking presents an opportunity to not only depict Kingston as a vibrant and energetic community, but to begin the process of positioning Kingston as an important centre - as the hub of Eastern Ontario - much in the same way that London is now seen as the hub of Southwestern Ontario."

I commented 3 years ago in a Whig Standard article, that the naysayers or Citizens Concerned about the LVEC (KCAL)
1) Could only "start to understand" LVEC's by experiencing them, supporting and not cherry pick issues that will arise.
2) Be respectful of the concept of an LVEC (Mulitpurpose facility) could bring to ones community if designed and built intellegently, and with no heresay or armchair commenting.
3) And that a real discussion could only and would only happen with a true depth of these types of facilities.
4) And that the LVEC (IS NOT) nor ever will be a "Skydome" or baseball facility, nor at that scale or functionality.

Then one could finally understand the LVEC studies that were presented publically & professionally three years earlier!

Armchair experts tend to come from a rather bias emotional centre rather than a dose of any experience.

Especially on such matters as an LVEC inwhich Kingston has NO experience with.

Then and only then could a "real" informed debate begin. (I believe such Kingstonians are starting that discussion today.)