6B(4) Staff report on Coveleski Stadium improvements

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South Bend Silver Hawks Stadium Renovations A Community Investment Coveleski Stadium is a City Park owned by the South Bend Park Department. The summer of 2011 will mark the 25t" year of baseball at the stadium. A lot has happened over almost a quarter of a century, including seventy days of family entertainment in downtown South Bend every year, with more than four million fans visiting the park since 1987. The time has come to re- invest in the facility for another twenty -five years of activity that will continue to benefit our neighborhood, our downtown, our city, and our regional community. What is the direct economic impact having the South Bend Silver Hawks in South Bend? 1. The Professional Sports Development Fund - - -The City is able to capture tax funds that would otherwise go to Indianapolis because we have a professional sports team in our community, the South Bend Silver Hawks. Annual revenue is in the $300,000 - $400,000 range. 2. Many hotel nights are booked with seventy home games each season adding to the important fund that is managed by the Hotel /Motel Tax Board. ■ Each visiting team reserves twenty rooms for players and coaches for each night they are in town. In 2010, the teams all stayed in the Ramada Inn downtown where they also enjoyed many meals in our downtown restaurants. • Each game brings in family /friends of not only the visiting team but also family members of the Silver Hawk players for at least another eight to ten hotel rooms per night. • Each game brings five to ten professional baseball scouts to town for each home night. • Each game brings fans from the visiting team's community to town for overnight hotel rooms. • Each game brings additional Diamondback staff members to town for an additional two to three hotel rooms per home game. • This adds up to approximately thirty -five to forty hotel room nights per each of our seventy home games for a total of two thousand -eight hundred hotel room nights over the course of the season. • CVB's have a formula to show the economic impact of visitors and in using this formula, each season would result with almost $700,000 driven - - back into our local economy as a result of our seventy home games. • With stadium renovations we can now partner with youth sports and area businesses for additional tournaments and events, which will add overnight stays, again increasing our direct economic impact. • Summer time is also when music entertainers are looking to perform in professional baseball stadiums and the Cove has been able to attract top name performers again having a direct and immediate economic impact by bringing many of the entertainer's fans to our community for additional overnights stays.