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additional S140,000 from private donations and sponsorships (in addition to the 5175,000 in <br />private funding already spent). On June 1 the City also applied on the Authority's behalf for <br />$500,000 in grant funding from the state's Recreation and Conservation Office under their <br />Local Parks program to help complete Phases 1 and 2 of the covered arena project. Our <br />success in receiving an RCO grant award is far from certain and those funds would not be <br />available until fall ol2O2t at the earliest. <br />The Authority has had many inquiries from event organizers about the new arena and when <br />it will be ready. Many organizers are waiting to inspect the layout, footing, access and other <br />features before they will commit to holding a show at this new facility. Assurning the arena <br />is ready to open in fall 2020, the Authority expects bookings will begin for 2A2L and that in <br />five years the calendar and revenue generating impacts of the covered arena will be more <br />fully realized, especially if it is able to add more stabling and parking to accomrnodate the <br />expected demand. Please referto Exhibit 2. <br />4. Real Property: lf real property acquisition is a component of the proiect, please explain. <br />Include any information of property already secured or evidence of the ability to secure <br />the real property. <br />The Authority is not acquiring any real property with this project. <br />5. Capital Assets: lf capital asset acquisition is a component of the project, please <br />explain. lnclude any bids solicited and received from potential vendors willing to <br />supply the asset. All capital asset purchases require dt least three bids.lf you have <br />already selected one of the bids, please provide justifications in writing. <br />Attached as Exhibit 3 are two bids. The estimate from Zorko Electric for the majority of the <br />lighting and electrical work. The Authority is currently seeking competitive bids from two <br />local electrical firms which are due June 20. <br />Also attached is the estimate from Noble Panels and Gates for the arena fence materials <br />This is the same vendor the Park has used for other arena fencing and is the vendor of <br />choice for this project since rnaterials will be compatible and of known quality. This <br />estimate is for steel fence materials only and does not include the costs for the concrete <br />foundation for the fence posts or labor to install the fencing. <br />6. Coordination: Please explain how this project has been coordinated with other <br />jurisdictions as well as affected stakeholders. Please include letters of support from <br />stakeholders. <br />The development of a covered arena has always been part of the Park's master plan (Exhibit <br />4) originally prepared with input from potential users groups and made publicly available to <br />stakeholders. lt was included in the Environmental lmpact Study and Development <br />Agreement approved by the City. As the Park's landlord, we partner closely with the <br />Authority. We applied to the county on this project and were awarded Sf.Sm in January <br />20L9 from the new Lodge Tax Large Scale Capital Projects program, and we are truly grateful <br />for that support which allowed it to move forward.