INNOVATE INDIANA

Exhibit B-4
Project Timeline
Project Budget & Funding
Project Timeline
Year 1 capital
expenditures ($) $2,000,000.00
Year 2 capital
expenditures ($) $1,500,000.00
Year 3 capital
expenditures ($) $0.00
Year 4 capital
expenditures ($) $0.00
Year 5 capital
expenditures ($) $0.00
Total Capital
$3,500,000.00
Expenditures
Ongoing expenditures for
operations, maintenance,
etc. ($) $0.00
Total project budget $3,500,000.00
Description of Capital
Expenditures
Description of Ongoing
Expenditures
Local public funding $300,000.00
Private funding $2,500,000.00
Non-profit funding $0.00
Other funding $0.00
RCI funding required? Yes
RCI funding needed $700,000.00
RCI funding proportion of
cap ex 20%
Total private funds $2,500,000.00
Private ratio calc 71
Total public funds $1,000,000.00
Public ratio calc 29
ADDITIONAL SUPPORT | SECTION 19
We are looking at a single round of financing for both proposed facilities, rather than splitting fundraising
into two distinct phases. Our business plan using just equity financing includes an expected yearly ROI of
15-20%, and support from various local and national networks. We anticipate that financing can be
secured in 3-6 month’s time via various means including the Notre Dame Irish Entrepreneurs Network.
In parallel with securing financing, we will find appropriate property -- whether including an existing
building/structure or not -- and sign purchase or lease agreements contingent on securing funding. We
expect the total process of obtaining funding and property to take 6-9 months. If a building needs to be
constructed rather than us repurposing an existing one, the construction is anticipated to take 6-9 months,
some of which can be finished in parallel with the climbing wall and interior build-out designs listed below.
With financing secured and a building of appropriate size under agreement, it typically takes about 9
months to build a climbing facility -- barring delays due to unanticipated events. The first 3 months are for
preparation: wall design, interior structure design, and so forth. The last 6 months are for completing
climbing wall and interior build-out construction. During the final month, offices are set up, the main desk
is outfitted, and retail is purchased for the store; as climbing walls are completed, climbs are put up for
testing and wall evaluation.
Building out two climbing facilities can be done in parallel with the preparation phase of the second gym
overlapping with the construction phase of the first one. In this manner, we estimate that we can have
both Apex Climbing and Fitness facilities up and operational within 15 months of starting.
Putting all the pieces together, we expect both projects to take roughly 2 years to be operational,
executing as many parts in parallel as reasonably possible to reduce the total time from start to operations
Capital expenditures for Apex Climbing and Fitness facilities includes funding needed: (1) to secure a long
term lease (preferably lease-to-own) on, or purchase of, property, construction or renovation of a building
of appropriate size and amenities; (2) to outfit the building space with all initial assets including climbing
walls, holds, ropes, flooring, sound system, air conditioning and filtration system, and so forth; (3) to cover
operating losses during the facility build-out such as monthly payments for insurance, property taxes,
utilities, and mortgage, staff hiring and training and salaries before opening including benefits and payroll
taxes, and all professional services including accountants and lawyers; (4) to cover operating losses
during the first year of operations; and (5) to provide a small cash reserve for unanticipated start-up
expenses. Based on the finances of other comparable climbing facilities, we expect each facility to be cash positive
within 1 year of commencing operations, and from then on to be self-sustaining in terms of financial
resources required for ongoing operations, maintenance, etc..
EXECUTIVE SUMMARY THE REGION ENGAGED CURRENT TRENDS
STATE OF THE REGION
& QUALITY OF PLACE
VISION & STRATEGY PROJECTS
STAKEHOLDERS, EXECUTION
& STRUCTURAL CHANGES
BENCHMARKING
& MEASUREMENT
27_EC_Apex Climbing and Fitness
REGIONALCITIESOFNORTHERNINDIANA.ORG |
292
ADDITIONAL SUPPORT