Sierra Planning and Management Velodrome - Town of Milton

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Velodrome Business Plan – Town of Milton 47 Scenario 1 represents a worse case revenue picture in large part because the estimate of track revenues is based on hourly rates which are below rates which have been deemed acceptable by the major cycling organizations. In addition, events at the centre are based only on facility rental revenues rather than a share of the financial performance of events hosted. Moreover, higher discounts are applied to revenues to reflect any incompatibility between track and infield uses. 7.3.9 IMPACTS OF LAURIER UNIVERSITY ON-SITE The following outlines the key impacts associated with the development of a satellite campus by Laurier University and its impacts on the use and operation of the performance of a facility. Size of Campus and Opening Time � Anticipated Opening (if approved) 2015/2016 based on an initial campus of 3,000 students on one or more buildings. � Campus can be expected to grow over 10 to 15 years to a maximum of 10,000 to 15,000 students. Core University Needs � Athletics and recreation centre in the range of 8,000 to 10,000 sq.ft. for 15,000 student campus. � Initial requirements for 3,000 students expected to be 2,000 to 3,000 sq.ft. University Athletics and Recreation Centre � The existing fitness centre programs in the Velodrome would be given over to the University plus additional meeting room space as achievable through the functional space program. � No rent associated with this space payable to the Town. Gymnasium Space � Presence of student body likely to increase nominal utilization in both prime and nonprime time during the fall/winter. � Potentially higher “per use” revenues associated from access to the track in nonprime time should the market for school user and other non-prime time users allow. Retail within building � The viability of retail in the Velodrome is likely to be enhanced by the presence of the ready market of students adjacent to the Velodrome. However, the ability to accommodate this additional potential commercial floor space will be determined by the functional space program and capital cost estimates for creating additional retail space. Business Plan | January 2012 Sierra Planning & Management 47
Sierra Planning & Management 48 48 Velodrome Business Plan – Town of Milton Food and Beverage � The potential for a café or small restaurant is enhanced by the presence of the University. However given space constraints and uncertainty as to what food and beverage components would be part of the University campus itself, no change is made to the assumptions of food and beverage within the velodrome infield. Events � Presence of the University may increase the opportunities for rental of the infield for entertainment events and/or student gatherings including convocation during the summer. 7.4 RANGE OF DEFICIT 7.4.1 COMMUNITY LEGACY FACILITY EXCLUDING LAURIER UNIVERSITY Exhibit 25 shows the comparative results of all three scenarios for years 1 to 3 below. Business Plan | January 2012
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Sierra Planning and Management Velodrome - Town of Milton

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