cuy council meeting jan 21 version 2council.cuyahogacounty.us/pdf_council/en-us/misc. reports and...

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Page 1: Cuy Council Meeting Jan 21 version 2council.cuyahogacounty.us/pdf_council/en-US/Misc. Reports and Presentations/Sin Tax...10 Since 2005, Quicken Loans Arena has been in the top 100

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Page 2: Cuy Council Meeting Jan 21 version 2council.cuyahogacounty.us/pdf_council/en-US/Misc. Reports and Presentations/Sin Tax...10 Since 2005, Quicken Loans Arena has been in the top 100

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Page 3: Cuy Council Meeting Jan 21 version 2council.cuyahogacounty.us/pdf_council/en-US/Misc. Reports and Presentations/Sin Tax...10 Since 2005, Quicken Loans Arena has been in the top 100

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Page 4: Cuy Council Meeting Jan 21 version 2council.cuyahogacounty.us/pdf_council/en-US/Misc. Reports and Presentations/Sin Tax...10 Since 2005, Quicken Loans Arena has been in the top 100

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Page 5: Cuy Council Meeting Jan 21 version 2council.cuyahogacounty.us/pdf_council/en-US/Misc. Reports and Presentations/Sin Tax...10 Since 2005, Quicken Loans Arena has been in the top 100

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Value of national and international media/marketing

exposure is priceless!

Value of national and international media/marketing

exposure is priceless!

Page 6: Cuy Council Meeting Jan 21 version 2council.cuyahogacounty.us/pdf_council/en-US/Misc. Reports and Presentations/Sin Tax...10 Since 2005, Quicken Loans Arena has been in the top 100

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Social Media Carries Us to the World

Page 7: Cuy Council Meeting Jan 21 version 2council.cuyahogacounty.us/pdf_council/en-US/Misc. Reports and Presentations/Sin Tax...10 Since 2005, Quicken Loans Arena has been in the top 100

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Cavs Purchase in 2005

12 Cleveland Businesses

4,000 Jobs in NE Ohio

$1 Billion Investment

Urban Focus: Cleveland

Page 8: Cuy Council Meeting Jan 21 version 2council.cuyahogacounty.us/pdf_council/en-US/Misc. Reports and Presentations/Sin Tax...10 Since 2005, Quicken Loans Arena has been in the top 100

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Cavaliers Youth Fund Grants and Donations

$21.4 million

Additional Community Gifts

$8.6M

TOTAL of $30 million + in Community, Civic and Charitable Giving

Page 9: Cuy Council Meeting Jan 21 version 2council.cuyahogacounty.us/pdf_council/en-US/Misc. Reports and Presentations/Sin Tax...10 Since 2005, Quicken Loans Arena has been in the top 100

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✓ Since 2005, Quicken Loans Arena has been in the top 100 Arenas as listed in Pollstar Magazine

✓ From 2005 to 2012 The Q’s attendance has risen 57% compared to 6% nationally

✓ In 2011, The Q reached its highest live entertainment attendance spot at 31st internationally and 12th domestically

Page 10: Cuy Council Meeting Jan 21 version 2council.cuyahogacounty.us/pdf_council/en-US/Misc. Reports and Presentations/Sin Tax...10 Since 2005, Quicken Loans Arena has been in the top 100

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200+ Events at The Q Annually

2 Million Attendees

Most diverse and largest number of unique patrons

Page 11: Cuy Council Meeting Jan 21 version 2council.cuyahogacounty.us/pdf_council/en-US/Misc. Reports and Presentations/Sin Tax...10 Since 2005, Quicken Loans Arena has been in the top 100

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National and International Events at The Q

1995 US Figure Skating Championships

1996 USA Olympic Dream Team Exhibition

1997 NBA All Star Weekend

2000 US Figure Skating Championships

2002 US Gymnastics Championships

2003 McDonald’s HS All American Basketball Game

2006 NCAA Women’s Basketball Regional games

2007 NCAA Women’s Basketball Final Four

2009 US Figure Skating Championships

2011 NCAA Men’s Basketball Second and Third Round

2013 Continental Cup

2013 Senior Games Parade of Athletes

2014 Gay Games Opening Ceremonies

2015 NCAA Men’s Basketball Regional games

2018 NCAA Wrestling Championships

Page 12: Cuy Council Meeting Jan 21 version 2council.cuyahogacounty.us/pdf_council/en-US/Misc. Reports and Presentations/Sin Tax...10 Since 2005, Quicken Loans Arena has been in the top 100

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Page 13: Cuy Council Meeting Jan 21 version 2council.cuyahogacounty.us/pdf_council/en-US/Misc. Reports and Presentations/Sin Tax...10 Since 2005, Quicken Loans Arena has been in the top 100

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Private Investments

$153 Million TOTAL$153 Million TOTAL

Significant private investment in The Q since 1994 opening

Cap Ex

Repairs and Maintenance

Gateway Payments

$69 million

$45 million

$14 million

Cleveland Clinic Courts $25 million

Page 14: Cuy Council Meeting Jan 21 version 2council.cuyahogacounty.us/pdf_council/en-US/Misc. Reports and Presentations/Sin Tax...10 Since 2005, Quicken Loans Arena has been in the top 100

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2004 Restructured Gateway Lease

✓ While both the Indians’ and Cavaliers’ were already paying 100% of their own maintenance, operations, venueupgrades/renovations, as well as all capital projects, theyagreed to a lease re-structuring with Gateway in 2004

✓ Net result was, the teams continued to cover allexpenses, with the exception of any future major capitalprojects in excess of $500K (i.e. major structural or coresystem related, for which Gateway is obligated to handle) and the teams now share the costs and expenses of Gateway’s annual operations. This includes their office, security, common areas, etc. That amounts to approximately $3 million annually.

Page 15: Cuy Council Meeting Jan 21 version 2council.cuyahogacounty.us/pdf_council/en-US/Misc. Reports and Presentations/Sin Tax...10 Since 2005, Quicken Loans Arena has been in the top 100

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NBA ComparableFacilities

Page 16: Cuy Council Meeting Jan 21 version 2council.cuyahogacounty.us/pdf_council/en-US/Misc. Reports and Presentations/Sin Tax...10 Since 2005, Quicken Loans Arena has been in the top 100

NBA VENUE COMPARISON

Team Name Arena Name Year Built/RenovatedGolden State Warriors TBD 2017Sacramento Kings TBD 2016Minnesota Timberwolves Target Center 1990/2014New Orleans Pelicans New Orleans Arena 1999/2014San Antonio Spurs AT&T Center  2002/2014New York Knicks Madison Square Garden 1968/2013Brooklyn Nets Barclay Center 2012Oklahoma City Thunder Chesapeake Energy Arena 2002/2012Orlando Magic Amway Center 2010Toronto Raptors Air Canada Centre 1999/2009Boston Celtics TD Garden 1995/2008Detroit Pistons Palace of Auburn Hills 1988/2006Charlotte Bobcats Time Warner Cable Arena 2005Memphis Grizzlies FedEx Forum 2004Houston Rockets Toyota Center 2003Phoenix Suns US Airways Arena 1992/2003Dallas Mavericks American Airlines Center 2001Miami Heat AmericanAirlines Arena 1999Indiana Pacers Bankers Life Fieldhouse 1999Denver Nuggets Pepsi Center 1999Atlanta Hawks Philips Arena 1999Los Angeles Clippers Staples Center 1999Los Angeles Lakers Staples Center 1999Washington Wizards Verizon Center 1997Philadelphia 76ers Wells Fargo Center 1996Portland Trailblazers Moda Center 1995Chicago Bulls United Center 1994Cleveland Cavaliers Quicken Loans Arena 1994Utah Jazz EnergySolutions Arena 1991Milwaukee Bucks Bradley Center 1988

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Page 17: Cuy Council Meeting Jan 21 version 2council.cuyahogacounty.us/pdf_council/en-US/Misc. Reports and Presentations/Sin Tax...10 Since 2005, Quicken Loans Arena has been in the top 100

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Quicken Loans Arena 10 year Lease-ObligatedMajor Capital Repair, Replace & Update Projection

For Years 2014-2023Architectural/Structural Systems

Roof Replacement Exterior Precast Concrete Panel Sealing / Painting Window Replacement Sidewalks, Steps, and Railing Replacement Elevator and Escalator Refurbishment Multi-level Seating Space Replacements, Updates

and Reconfigurations

Mechanical & Electrical Systems

Building Automation System Control Replacement & Commissioning

Energy-efficient Chilled Water Pump Replacement Energy-efficient Condenser Water Pump

Replacement Energy-efficient Water Cooled Centrifugal Chillers Energy-efficient Cooling Tower Replacement Air Handler Coil Replacement Reheat & Variable Air Volume box Replacement High Volume Cooling/Heating Fan & Fan Coil

Replacement Ventilation Management and Control System

Replacement Energy-efficient Bi-Polar Filters for Seating Bowl Air

Handler Units Energy-efficient Variable Speed Chiller Plant

Replacement Pneumatic Control Systems Update to Digital Ice Floor and Chiller Plant Replacement Lighting Control System Replacement Arena Bowl Lighting System Replacement

Event Systems

Arena Bowl Curtain Replacement Video Control Room Update to HD Arena Bowl Sound System and Amplifier Replacement HD Scoreboard System

Safety & Security Systems

Fire Alarm System Update and Replacement Security Command Center Refurbishment and Camera

Updates

Estimated expense range:

$55 million to $65 million over

10 years.