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5. operations Proforma We have prepared the following Income and Expense Proforma with the full understanding that they will be reworked as the actual first year program is developed. It is understood that first year programming will be somewhat less vigorous than that portrayed here. These figures are based upon recognized performance center formulae and a comparative analysis of similar operations around the country. Income figures are based upon a conservative sale of 65% of the house in the case of the Morris Civic Auditorium (2200 seats) and on estimated average ticket price. In the case of the Palais Royale we have used a formula projecting a number of event days per year per event usage or rental fee per estimated number of participants (where applicable.) The State Theatre Concert Hall income is estimated on the basis of 700 seats, 65% of the house, an average ticket price and a number of event days. Local arts organizational use fees are determined for each venue on the formula of $1.00 per seat-sold per event. Rehearsal time fees are fixed at estimated cost and so indicated. The Playhouse Resident Theatre Company and Children Theatre School income is based upon a standard annual lease. In each case the income proforma formula is shown with the listing. The Expense Proforma is based upon current City of South Bend expenses relative to the operation of the Morris Civic Auditorium and our best estimates for the expanded operations recommended. In both cases (Income and Expenses) we have provided separate proforma for the Morris Civic Auditorium / Palais Royale operation and the full operation including a restored /rehabilitated State Theatre Concert Hail and Playhouse. CW%=