Sierra Planning and Management Velodrome - Town of Milton

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Velodrome Business Plan – Town of Milton i Contents EXECUTIVE SUMMARY ............................................................................................................................................... III PRINCIPLES OF LEGACY ..................................................................................................................................................... III POTENTIAL PARTNERSHIPS ............................................................................................................................................... IV PROSPECTIVE MANAGEMENT APPROACH ............................................................................................................................ IV FUNCTIONAL SPACE PROGRAMMING .................................................................................................................................. V INDICATIVE FINANCIAL ANALYSIS OF FACILITY REVENUES AND EXPENSES .................................................................................... V RECOMMENDED SCENARIO ............................................................................................................................................... X POTENTIAL ECONOMIC IMPACTS FROM CYCLING EVENTS ........................................................................................................ X 1 INTRODUCTION AND PURPOSE ........................................................................................................................... 1 1.1 LIMITATIONS OF THE ANALYSIS ............................................................................................................................... 2 1.2 PROJECT DESCRIPTION ......................................................................................................................................... 2 1.3 BUILDING SPECIFICATIONS .................................................................................................................................... 3 1.4 CYCLING: NATIONAL AND PROVINCIAL TRENDS ......................................................................................................... 4 1.4.1 Structure of Cycling and Track Cycling in Canada .................................................................................. 5 1.4.2 Track Cycling Facilities in Canada ........................................................................................................... 9 1.4.3 Summary of Track Cycling in Canada ................................................................................................... 11 2 SITUATIONAL ASSESSMENT: COMMUNITY OVERVIEW, NEEDS AND ACTIVITY TRENDS ..................................... 13 2.1 MUNICIPAL AND REGIONAL GROWTH IMPLICATIONS FOR VELODROME FACILITY ............................................................ 13 2.1.1 Continuous and Significant Population Growth ................................................................................... 14 2.1.2 An Increasingly Vibrant and Youthful Population ................................................................................ 14 2.1.3 Growing Sport and Recreational Facility Needs ................................................................................... 16 2.2 COMMUNITY NEEDS OVERVIEW RELEVANT TO THE SPACE UTILIZATION IN THE VELODROME ............................................ 17 3 THE IMPORTANCE OF VELODROME LOCATION .................................................................................................. 18 3.1 GENERAL LOCATION REVIEW ................................................................................................................................ 18 3.2 VELODROME SITE .............................................................................................................................................. 19 3.3 GUIDING PRINCIPLES FOR DEVELOPMENT ............................................................................................................... 20 4 FACILITY OPTIONS IN LEGACY MODE ................................................................................................................. 21 4.1 PRINCIPLES OF LEGACY ....................................................................................................................................... 21 4.1.1 Legacy as a Velodrome with Maximum Event Potential ...................................................................... 21 4.1.2 Legacy for Community Use ................................................................................................................... 22 4.2 UTILIZATION POTENTIAL AND RANGE OF FACILITY NEEDS .......................................................................................... 22 4.3 FUNCTIONAL SPACE PROGRAM ............................................................................................................................ 25 4.4 FACILITY PROGRAMMING OPPORTUNITIES – INFIELD AND NON-TRADITIONAL USES ....................................................... 26 4.5 POTENTIAL EVENT HOSTING OPPORTUNITIES .......................................................................................................... 27 5 CONSIDERATION OF PARTNERSHIP OPPORTUNITIES ......................................................................................... 29 5.1 INTERNATIONAL EXAMPLES OF MANAGEMENT ........................................................................................................ 29 5.2 LAURIER UNIVERSITY .......................................................................................................................................... 29 5.3 MANAGEMENT OF THE VELODROME ..................................................................................................................... 30 6 CAPITAL COST ANALYSIS .................................................................................................................................... 31 6.1 EXISTING CAPITAL FUNDING FORMULA .................................................................................................................. 31 6.2 VALUE FOR MONEY IN REALLOCATING CAPITAL BUDGET TO VELODROME .................................................................... 31 Business Plan | January 2012 Sierra Planning & Management i
Sierra Planning & Management ii ii Velodrome Business Plan – Town of Milton 6.3 STATUS OF FUNCTIONAL PROGRAM AND IMPACT ON CAPITAL COSTS .......................................................................... 32 6.4 KNOWN CAPITAL COST RISKS .............................................................................................................................. 33 7 ASSESSMENT OF VELODROME REVENUES AND EXPENSES ................................................................................. 34 7.1 BASELINE ASSUMPTIONS..................................................................................................................................... 34 7.2 SCENARIOS CONSIDERED..................................................................................................................................... 36 7.3 GENERAL ASSUMPTIONS ..................................................................................................................................... 36 7.3.1 Revenue Sources ................................................................................................................................... 36 7.3.2 Track Cycling ........................................................................................................................................ 36 7.3.3 Non-Track Uses..................................................................................................................................... 40 7.3.4 Ticketed Events ..................................................................................................................................... 43 7.3.5 Other Opportunities ............................................................................................................................. 43 7.3.6 Advertising and Naming Rights ............................................................................................................ 44 7.3.7 Facility Expenses ................................................................................................................................... 44 7.3.8 Summary of Scenarios .......................................................................................................................... 46 7.3.9 Impacts of Laurier University On-Site ................................................................................................... 47 7.4 RANGE OF DEFICIT ............................................................................................................................................. 48 7.4.1 Community Legacy Facility Excluding Laurier University...................................................................... 48 7.4.2 Community Legacy Facility Including Laurier University ...................................................................... 51 8 RISK ANALYSIS ................................................................................................................................................... 55 8.1 DEVELOPMENT, DESIGN AND CONSTRUCTION RISKS ................................................................................................ 55 8.1.1 Design, Cost and Construction Risks Mitigated .................................................................................... 55 8.2 OPERATING RISKS.............................................................................................................................................. 57 9 ECONOMIC IMPACT ESTIMATES ........................................................................................................................ 59 9.1 ILLUSTRATIVE ECONOMIC IMPACTS OF A VELODROME IN MILTON ............................................................................... 59 9.2 ECONOMIC IMPACTS OF VELODROME CONSTRUCTION .............................................................................................. 61 9.2.1 Gross Domestic Product (GDP) Impacts from Construction Activity ..................................................... 62 9.2.2 Construction Related Employment Impacts ......................................................................................... 64 9.2.3 Federal and Provincial Income Tax Impacts ......................................................................................... 64 9.3 OPERATIONS .................................................................................................................................................... 65 9.4 VISITOR SPENDING IMPACTS ................................................................................................................................ 65 9.4.1 Event Impacts ....................................................................................................................................... 65 9.4.2 STEAM Model Reference ...................................................................................................................... 67 APPENDIX APPENDIX A: Infield Playing Field Dimensions for Alternative Sports APPENDIX B: Case Study Summary APPENDIX C: Consultation Summary APPENDIX D: Velodrome Potential Usage Hours and Rates by Group APPENDIX E: Town of Milton 2012 Rates and Fees APPENDIX F: Detailed Financial Analysis Business Plan | January 2012
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Sierra Planning and Management Velodrome - Town of Milton

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