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