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AG 2007 12 17
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AG 2007 12 17
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Last modified
2/1/2009 12:18:45 PM
Creation date
11/27/2017 11:32:15 AM
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Meeting Minutes
Doc Type
Minutes
Meeting Minutes - Date
12/17/2007
Board
Board of Commissioners
Meeting Type
Regular
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SMG - Cabarrus Arena Fee Calculation <br />Fiscal Year Ending 6/30/07 <br />Base Fee $ 95,000.00 <br />Quantitative Incentive -15% of Grass Operating Revenue in excess of 3-yr. average(curr. $1,167,200) with cap at 75% of base <br />Qualititalive Incentive -Capped at 25% of base fee with the following components <br />40% Professional Management <br />20% Mainentance & Operation <br />40% Customer Service <br />F88 Base Fee <br />FSB Incentive <br />FSB Profit Split <br />Gross Arena Operating Revenue <br />Gross F&B Revenue <br />FSB Net Income Before Incentive <br />Arena Fees <br />Arena Quantitative Incentive <br />Arena Qualitative Incentive ~ 95% <br />Total Arena Incentive <br />FSB Fees <br />FSB Incentive <br />FSB Profit Split to SMG <br />5°~ of Gross Revenue <br />5% of Gross Revenue If operation is profitable <br />After Incentive Fee Is deducted 1st $50,000 to facility, 2nd $50,000 to SMGFB, <br />balance to facility <br />X44? <br />$ 1,500,396 <br />$ 619,662 <br />$ 49,087 <br />$ 49,979 <br />$ 22,563 <br />72,642 <br />$ 30,984 <br />Total FSB Fees $ 30,984 <br />G- 13 <br />2006 <br />$ 1,299,399 <br />$ 478,098 <br />$ 54,016 <br />
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