Sam Myer

What is amphitheaters?

SPTE 203

Study Guide for Exam #1 

Introduction: 

Sustainability

A dynamic philosophy where an organization recognizes its social responsibility  pertaining to environmental matters. 

Chapter 3: 

Types of Venues:

Arenas (Coliseums)

Indoor facility with fixed seats or portable seats – surrounding an open floor Permanent or portable stage

Theaters (Performing Arts Centers)

Permanent stage

Permanent seating

Sloped Floor

Auditoriums

Permanent Stage

Permanent and Portable Seating

Flat floor

Convention Centers

Exhibit and Meeting Space

Large Flat Spaces

Stadiums

Large Facility with seats and bleachers surrounding a field area

Open Air or Dome (Retractable)

Amphitheaters

Open air with stage

Permanent Seating

Lawn or Portable Seating

What is indirect subsidy?

Seasonal Event Schedule

Goes on rain or shine

Performers are protected from elements

Complex

Combination of two or more venues Don't forget about the age old question of Why do companies engage in international business?
Don't forget about the age old question of What are some personality traits?

Managed by a single entity

Racetracks

Built for single purpose

Aquatic Center

Single purpose

Velodrome

Sam Myer

SPTE 203

Single purpose

Sponsors and Fans

Facility Planning

Finance Committee

Qualified Stakeholders

Accounting, Legal, Debt Financing

The Feasibility Study

Re­model Current Facility or Build New One

Land Acquisition

Identifying and purchasing the probable building site for a facility

Intermediaries

Hide identity of private developers and long­term intentions

Suppress potential prices

Adjacent parcels of land become more valuable once the first is bought

Eminent Domain

What is opportunity costs?

We also discuss several other topics like What is theory of reasoned action?

Ability to compel citizens to sell land

Government forcibly taking land from private citizens

Adequate compensation

Land used for public good

Kelo vs. New London

Nine homeowners refused to give up their land through eminent domain

Felt it violated the Constitution

10 years later, the land given up has still not been developed

Land preparation

Challenges

Proper zoning

A building can only be constructed in an area that conforms to its use

Environmental concerns

Creating physical characteristics necessary to build

Additional cost­related considerations

Weather trends (winds)

Acoustics

Availability of materials

Contractor’s Financial Solvency

Soliciting Bids

Request for Qualifications (RFQs)

Request for architectural companies submit their qualifications

Request for Bids (RFBs) or Request for Proposal (RFPs)

Request for architects to explain their design

Tax Increment Financing (TIFs)

Involves areas that have recently experienced a loss in value

Government uses the money from tax increment bonds to purchase land in redevelopment areas Bonds are repaid with the increase in tax revenue created from parcels surrounding the  redevelopment area Don't forget about the age old question of Governments can make buyers or sellers pay a specific amount on each unit, is what?

Certificates of Participation (COPs)

Formed when government creates a corporation to buy land and/or build a facility Corporations use COPs to raise money for facilities

Issued over an extended period of timeIf you want to learn more check out Customer Value refers to what?

Sam Myer

SPTE 203

Chapter 4: 

Opportunity Costs

Other options potentially available to spend money on if a sport and entertainment facility wasn’t  being built We also discuss several other topics like what is fetishism?

Physic Benefits

A major professional sports team can bring significant pride to a community

Ex: Hornets had ‘Charlotte’ on the front of their jerseys instead of ‘Hornets’

Public Subsidies

Direct Subsidy

Yearly government check

Indirect Subsidy

Approving zoning changes

Enhance infrastructure surrounding the facility

New freeways

Widening roads

Taxes

Tax Abatements

Reduction or exemption from taxes

Usually results in financial loss for the government

Sales taxes

Sales tax on any purchase directly funds the facility

Property taxes

Usually on the upper and middle class

Tourism taxes

Hotel

Rental Car

Sin Taxes

Alcohol

Tobacco

Entertainment Taxes

Critics consider this to be the best way to fund a sport facility

Chapter 5: 

Scheduling

Master plan of events the facility will host over a certain period of time

Booking

Executing the scheduling plan by procuring contracts with events the facility wants to host Primary tenants

Groups who have first priority in the venue, typically due to them committing to a series of  events over the course of a year or years

3 P’s

Performers (Main Attraction)

Place (Venue)

Promoters (Financial Underwriter of Event)

Booking Process

Is the date and time free?

Does the event fit the space?

Are there conflicts with tenants or other booked events?

Holds

Sam Myer

SPTE 203

Reservation of space placed on the facility calendar

Confirmed Hold

An approved application for the facility

Tentative hold

Hold typically for a touring show when the tour manager is locking in other facilities on  the route

Secondary or challenge hold

Forces the event with the tentative hold or the facility to make a decision

Contracted

The event has signed and returned the contract

Chapter 6: 

Revenue Sources

Tickets

Luxury Suites and Club Seating

Concessions

Parking

Licensed Merchandise

Sponsorships

Media

Facility Rentals

User Fees and Memberships

Gambling

Student Fees

Donations and Grants

Facility Expenses

Mortgage and Rent

Maintenance and Repairs

Utilities

Taxes

Marketing and sales

Personnel Expenses

Cost of Goods Sold (COGS)

Insurance