08-22-18 Personnel and Finance (#4)

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CITY OF SOUTH BEND I OFFICE OFTHE CLERK as well as it attracted more business. We will continue to see those revenue numbers increase on our part going forward. He went on, The feasibility study is a chance for us to imagine a building that is forty-one (41) years old and imagine what the next forty-one (41) years should be. That study will help us take a look at whether we are optimizing our space. It will also capture the potential and see what the market can bear if we expanded. We are still working through that process with the respective boards. There will be more to come on that in the coming months. Lastly, we want to give a brief overview on the parking side. There are roughly 1,400 parking spaces we have within the downtown environment. The difference in net revenue in 2019 and beyond is that, while we are operating within two (2) of the garages at more than one hundred percent (100%) capacity, we need to invest back in the garages. We need to finish getting elevators up to par, some aesthetic and cosmetic things, and we think if we push through this coming year, and that is why you will see a net operating loss this year paid for out of cash reserves, we will be able to have a longer- term strategy with potential for a rate increase. While we are certainly still competitive and less expensive than some of the other private solutions out there for parking options, I think there is an opportunity to provide dynamic pricing in the future. Committee Chair White opened the floor to questions from Committee and Council Members. Councilmember Tim Scott asked, Are we seeing more movement with the new hotels coming online? Mr. Jarnecke replied, Without question. Certainly on the Century Center side. That has taken us to six hundred eighteen (618) hotel rooms in the downtown environment. It takes us a bit of time to catch up as we are already talking about conventions in 2021 and beyond, it has really changed our position in the marketplace. We have, in the short-term,realized incremental gains from three (3) or four(4) events we wouldn't have otherwise had without the extra hotel space. Councilmember Scott followed up, Is there any type of detriment to the Century Center parking lot? There are bottlenecks getting in and out of that. Mr. Jarnecke replied, We are far from optimized from a convenience standpoint. Not only do we feel that on the parking side but also when folks come into the Center for a show. So for the consumer shows in Janu , February and March you will actually see the side doors closed and force the pedestrians and traffic to go through the front doors off of MLK for ticketing and then exit through those doors. So it is not great. It is also a challenge for pedestrians and traffic to comingle. We are looking at that and the feasibility study will help us with that. Councilmember Scott stated, The South Bend Cubs is a major compliment to the City but the Morris is second(2"d).There are so many people from outside South Bend that bring up the Morris and they love seeing shows there. You are getting that draw from outside the City and it is really a gem. Mr. Jarnecke replied, We appreciate you saying that. That was also recognized by Polstar, one (1) of the industry's entertainment divisions,we are number sixty-seven(67)out of two hundred(200) in terms of gross ticket sales. That outpaces our regional competition. We have an attendance goal this coming year of 125,000 to 130,000. We want to ensure that every child and resident has an EXCELLENCE I ACCOUNTABILITY I INNOVATION I INCLUSION I EMPOWERMENT 455 County-City Building,227W.Jefferson Bvld I South Bend,Indiana 46601 p 574.235.9221 l f574.235.9173ITTD 574.235.5567 www.southbendin.gov 5