Laserfiche WebLink
<br />.J~IIII~~~ <br /> <br />CabarrusArena <br />&Events Center <br /> <br />Cabarrus Arena Management Incentives for FY2006 <br /> <br />The current management agreement between Cabarrus County as SMG outlines incentives for <br />SMG to exceed certain periformance thresholds. This total fee is composed of a quantitative <br />portion relating to Gross Operating Revenue and a qualitative portion relating to more subjective <br />performance measures. <br /> <br />For the year ending June 30, 2006, SMG surpassed the $1,035,000 Gross Operating Revenue <br />threshold for the quantitative fee. Gross Operating Revenue for the year was $1,299,399. As per <br />the management agreement, SMG should receive an incentive of fifteen percent of all revenue in <br />excess of the threshold. This amounts to $39,660. <br /> <br />$1,'299,399 Total Gross Revenue <br />- $1 ;035.000 Incentive Threshold <br />$ 264,399 Gross Revenue in excess ofIncentive Threshold <br />x 15% Percentage of Excess Revenue to SMG <br />$ 39,660 Quantitative Incentive Due SMG <br /> <br />For the same time period, Cabarrus County staff awarded SMG ninety-one of a possible one <br />hundred points in the subjqctive performance areas of customer service, maintenance and <br />operations, and overall mapagement. Applying the formulas outlined in the management <br />agreement results in a qua~itative fee to SMG of $21 ,613. <br /> <br />$23,750 <br />x 91% <br />$2n 613 <br />r' <br /> <br />Maximum Qualitative Incentive per Agreement <br />Percentage of Total Points Awarded to SMG <br />Qualitative Incentive Due SMG <br /> <br />F-8 <br />