CITY OF MINNEAPOLIS Minneapolis Convention Center & Downtown Assets 2018 Mayor recommended budget October 27, 2017 Budget Book Pages E8 – E21
Downtown Assets Council Direction • Goals • Coordinated response to the large public assets downtown • 5 – year budget to prepare for operating and capital needs of large public assets • Committee • City Coordinator lead • Delegated operational responsibility to Executive Director of the Convention Center • CFO, Public Works Director & CPED Director 2
Downtown Assets – 5 year Plan • Hospitality Sales Taxes used to more broadly support these downtown assets • 5-year plan addresses operating and capital expenses • Receives taxes and distributes resources • General Fund distribution is guaranteed each year allowing for predictability • Four assets are supported • Minneapolis Convention Center, Target Center, Commons and Peavey Plaza • Allows flexibility and management in funding as different assets require variable amounts of resources 3
City of Minneapolis 2018 Mayor's Recommended Budget -- Amended 10/10/17 Financial Plan (in thousands of dollars) Downtown Assets Fund (including Downtown East Commons Fund & Peavy Plaza Fund) 2018 2019 2020 2021 2022 Budget Forecast Forecast Forecast Forecast Source of Funds: 87,583 87,096 89,092 66,955 69,303 Local Taxes 420 - - - - Transfer in from Bond Arbitrage for Commons Downtown Assets Fund Interest Earnings 243 329 260 75 14 88,246 87,425 89,352 67,030 69,317 Total Use of Funds: 30,600 31,212 31,836 32,473 33,122 Transfer out to City General Fund 5,661 5,659 5,659 5,662 5,661 Transfer out to Arena Fund Debt Service 26,811 57,433 58,268 28,756 30,753 Transfer out to Convention Center 750 - - - - Commons Operating 4,000 - - - - Peavy Plaza - Capital Peavy Plaza - Operating 400 412 424 437 450 68,222 94,716 96,188 67,328 69,987 Total 20,024 (7,291) (6,836) (298) (670) Change in Cash Position 20,024 12,733 5,897 5,599 4,930 Downtown Assets Fund Cash Balance 4,766 5,287 3,971 2,702 1,476 Arena Special Revenue Fund Cash Balance Convention Center Special Revenue Fund Cash Balance 26,809 27,814 26,628 21,097 19,897 51,599 45,834 36,496 29,399 26,303 Downtown Assets Umbrella Cash Reserve 4
Budget Summary – Downtown Assets Change 2018 2017 Item Select type of Recommended FTEs adopted (new funding funding Program name dollars) Add Non- general Non- general fund Non- general fund Current itio One time fund nal $21,416,857 $20,710,319 30.8 MCC - Facilities $90,000 $125,000 MCC - Tallmadge $24,635,570 $25,097,478 141.3 MCC - Events MCC – Meet Minneapolis 750,000 650,000 650,000 X Enhancement $100,000 $100,000 X MCC – NCAA $6,893,560 $6,636,893 1.2 Target Center $750,000 $750,000 Commons $4,400,000 $4,400,000 Peavey Plaza $53,785,987 $58,469,690 $5,900,000 173.3 0 Total 5
Core Programs 6
Department Organizational Chart Minneapolis Convention Center Organization Chart September 8, 2017 20170908:geisejj0 Executive Director Project Manager Director of Sales & Director of Business Marketing Director of Event Services Administration Meet Minneapolis Systems Integrator IV Associate Director of Human Resources Business Services Facilities Operations Guest & Security Event Operations Accountant II Event Services Manager Sales & Marketing Generalist Manager Manager Services Manager Manager Meet Minneapolis Event Services Program Assistant Supervisor Human Resources Senior Event Facilities Operations Event Services Event Operations Administrative Accountant I Sales Managers Associate Coordinators Supervisors Supervisors Supervisors Analyst II Event Coordinators Account Clerk Program Assistant Operations Maintenance GSS Event Specialists OM Engineers Coordinators Office Support Booking Coordinator Specialist II Painters CAS Operators Building Maintenance Workers Technology Services Coordinators Storekeepers Carpenters Production Technician Exhibitor Services Clerk Grounds Crew Concierge II II Part Time Stagehands Exhibitor Services Clerk Guest Services I Ambassadors Denotes Meet Minneapolis Personnel
City of Min Cit Minneapolis lis 2018 2018 May ayor or's Rec ecom ommended ended Budget Budget - Am Amended ended 10/13/17 10/13/17 Financ nancial al Pl Plan an (in n thous thousands ands of of dol dollar ars) Minneapol nneapolis s Conventi onvention on Center enter Speci Special al Rev evenue enue Fund und % Chg 2015 2015 2016 2016 2017 2017 2018 From 2017 2019 2020 2021 2022 Budget Actual Budget Actual Budget Projected Budget Projected Forecast Forecast Forecast Forecast Sour ource of e of F Funds unds: Charges for Services 6,200 6,523 6,000 6,907 6,700 6,700 7,300 9.0% 7,300 6,100 6,300 6,400 Rents and Commissions 7,597 7,863 7,197 7,730 7,836 7,900 8,196 3.7% 8,150 7,400 7,600 7,600 Privileges 3,650 3,903 3,500 3,704 4,222 4,300 4,514 5.0% 4,500 3,600 3,800 3,900 Interest 396 370 184 624 595 600 612 2.0% 624 637 649 662 Other Misc Non Operating 164 318 114 173 76 76 - -100.0% - - - - Transfer from General Fund 50,340 50,340 50,050 50,050 49,786 49,786 - -100.0% Transfer from Downtown Assets - - - - - - 26,811 53.9% 57,433 58,268 28,756 30,753 - 5,400 - - - - - 0.0% - - - - Transfer from Facility Reserve Total 68,347 74,717 67,045 69,188 69,215 69,362 47,433 -31.6% 78,007 76,005 47,105 49,315 Use of e of F Funds unds: Convention Center Operations 26,503 24,580 25,924 25,572 26,826 26,826 28,149 4.9% 28,460 29,313 30,193 31,099 Ongoing Equipment/Improvement 13,894 9,055 15,467 12,988 22,433 11,933 7,833 -34.4% 11,437 10,453 11,808 8,579 Meet Minneapolis 10,071 10,031 9,905 9,905 10,613 10,489 10,701 2.0% 10,242 10,437 10,635 10,838 Transfer to DID - - - - 250 250 - -100.0% - - - - Transfer to Debt Service 24,502 24,321 24,612 24,431 24,669 24,669 24,811 0.6% 26,863 26,988 - - Transfer to General Fund - - - - 3,860 3,860 - -100.0% - - - - - - - - 6,000 6,000 - -100.0% - - - - Transfer to City Capital Total 74,970 67,987 75,908 72,896 94,651 84,027 71,494 -14.9% 77,002 77,191 52,636 50,516 Net et I Inc ncom ome (6,623) 6,730 (8,863) (3,708) (25,436) (14,665) (24,061) 64.1% 1,005 (1,186) (5,531) (1,201) Begi eginni nning F ng Fund B und Bal alanc ance - 60,454 67,186 67,186 63,478 63,478 48,813 -23.1% 24,752 25,757 24,571 19,040 Endi nding F ng Fund B und Bal alanc ance - 67,186 58,323 63,478 38,042 48,813 24,752 -49.3% 25,757 24,571 19,040 17,840 Endi nding C ng Cas ash B h Bal alanc ance - 66,210 57,347 65,535 40,099 50,870 26,809 -47.3% 27,814 26,628 21,097 19,897 8
MCC - Facilities Program Purpose and Context The Convention Center Facility Program provides the physical building and grounds of the Convention Center as well as the staff to maintain this City asset. The Events Program utilizes the facility to sell space and host events. The Facilities Program includes repair and maintenance expenditures as well as Internal Service Charges. • Funded from Hospitality Taxes • A 17% increase ($497,000) in Internal Service charges • $7.3 million in Procurement • Living Wage Jobs Services Provided The facilities program provides repair and maintenance services for the facility including snow removal, grounds, utilities, and all Internal Service charges. 9
MCC Facilities Program 2017 adopted budget 2018 recommended funding FTEs Funding One-Time General Fund Non-General Fund General Fund Non-General Fund Current (Yes/No) $21,416,857 $20,710,319 30.8 No Goals A Hub of Living Well One Minneapolis Great Places A City that Works Innovation and Activity X X X Values Equity Safety Health Vitality Connectedness Growth X X X 10
MCC Facilities Program Performance Total Energy* Use kBTU (in Gallons of Water Used thousands) (in thousands) 2009 Benchmark, 145,000 143,475 2009 140,000 16,000 138,138 Benchmark, 13,990 14,000 135,000 11,948 131,767 12,000 10,414 10,296 128,967 130,000 10,000 8,632 Thousands 124,079 8,000 125,000 6,000 120,000 4,293 4,000 115,000 2,000 - 110,000 2013 2014 2015 2016 2017 YTD* 2013 2014 2015 2016 *Total energy includes electricity, natural gas, cooling, and heating. *YTD through June 11
MCC Facilities Program Performance Recycling Percentage 70% 62% 60% 59% 60% 56% 48.8% % of Waste Recycled 50% 40% 2009 Benchmark, 31.6% 30% 20% 10% 0% 2013 2014 2015 2016 2017 YTD* *YTD though September / 60% represents 517 tons of recycled trash 12
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