Hotel-Motel Tax Board Minutes 2019 August 22

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ST. JOSEPH COUNTY BOARD OF MANAGERS FOR HOTEL-MOTEL TAX THURSDAY, AUGUST 22, 2019 8:30 A.M. CENTURY CENTER BENDIX THEATRE Members Present Members Absent Others John Anthony Jenny McNeil Aaron Perri, Venues Parks & Arts Greg Downes Rob DeCleene & Staff, VSBM Joseph Kurth Century Center Staff Mark McDonnell Jeff Jarnecke, Venues Parks & Arts Dan Parker Aladean DeRose, City of South Bend Paul Phair Josh Sisk, Potawatomi Zoo Carmen Piasecki Margie Anella, Potawatomi Zoo Thomas Walz Ken Prince, Mishawaka Gary West Ron Zeltwanger The meeting was called to order by President Anthony at 8:30 a.m. ROLL CALL Roll call was taken with the following member absent: Jenny McNeil. Anthony welcomed new board member Paul Phair. Phair introduced himself as the Vice President of Development at Holladay Properties. APPROVAL OF MINUTES Anthony entertained a motion to approve the minutes of April 26, 2019. McDonnell moved to accept; seconded by Downes, the motion carried. TREASURER’S REPORT Zeltwanger reported on the period ending June 30, 2019: Receipts were $2,275,745 with Disburse- ments of $3,027,874 with a remaining cash balance of $5,372,131. There is remaining amount of $3,759.974 to be disbursed in the next six months. Two new additional disbursements are included in the 2019 previously approved budget including $234,968 for the Potawatomi Zoo and $352,453 for the Mishawaka Sports Complex which will drive up expenses for the remainder of 2019. The reserve amount of $5,372.131 adding the projected Q3 and Q4 revenue of $3,524,525 (based on 2018 Q3 and Q4 revenue) less the $3,759,974 balance to disburse for the remainder of 2019 budget and the Potawatomi Zoo and Mishawaka Sport Complex disbursements total of $587,421 results in a projected 2019 year end reserve balance of $4,549,261. There is potential to end with a higher year end reserve balance of $4.8 million if revenue grows in Q3 and Q4 similar to the last couple years. Zeltwanger thanked Piasecki, Kurth, McDonnell, Anthony, Jarnecke and DeCleene for their work on the 2020 proposed budget. Century Center proposed 2020 disbursements are reduced by a little more than 10%. The Century Center Bendix Theatre renovation into an esports venue has $1 million budgeted in 2020 with the intent to approve the second $1 million request in the 2021 budget for a total of $2 million. Century Center was asked to continue to explore other funding options (naming rights, sponsors, internal budget, etc.) as well as bring the final number to the Hotel-Motel Tax Board in the 2021 request to see if there could be any offsets from the second request to lower the amount. The CVB (VSBM) 2020 budget is also reduced by 10%. The allocated amount for the CVB (VSBM) bid fund is $100,000. 2020 projected hotel-motel tax revenue is $6 million. The Potawatomi Zoo