notice of regular meeting greater boise ......9 combined revenue and expense* (000’s) *expenses...

NOTICE OF REGULAR MEETING GREATER BOISE AUDITORIUM DISTRICT

Revision 1 Wednesday, August 19, 2020

2:00 P.M. MDT Boise Centre West – Room 200

Board and Public Zoom Meeting (Dial in Only)

By phone: 1-253-215-8782 US Meeting ID: 319 290 5355

Passcode: 195978

Please be aware, Boise Centre will REQUIRE TEMP CHECKS for anyone entering the Boise Centre facility, effective Wednesday, June 10, 2020. Entrance is through the main entrance to

go through thermal imaging. If a guest refuses or their temp is at or above 100.3 degrees, access to the facility will be denied. Per current Central District Health guidelines MASKS

ARE REQUIRED. Seating is limited to accommodate physical distancing.

AGENDA

I. Call to Order

II. Roll Call

III. Changes or Additions to the Agenda

IV. Agenda:

A. Chairman’s Remarks – Kristin Muchow B. Approval of Minutes –

i. Regular Minutes, July 21, 2020 C. Monthly Activity and Financial Report – Pat Rice, Anne

Marie Downen

Action Item

Action Item

Action Item

V. Other Business:

A. Idaho Fairness in Women’s Sports Act Update – Pat Rice

VI. Executive Session: 74-206(1)(c)—to acquire an interest in real property not owned by a public agency

VII. Future Project Development Discussion – Kristin Muchow

VIII. Adjournment

Discussion

Action Item

Discussion

Action Item

Page 1 of 3

MINUTES OF A REGULAR MEETING

OF DIRECTORS OF GREATER BOISE AUDITORIUM DISTRICT

HELD IN ADA COUNTY

July 21, 2020

Pursuant to a call by the Board Chair and notice of the meetings having been duly posted at 850 W. Front St., Boise ID 83702, the Board of Directors of the Greater Boise Auditorium District met in regular session and via teleconference (as per the Governor’s Proclamation dated April 30, 2020), at 2:00 p.m. MDT on July 21, 2020. Board Present Others Present

Kristin Muchow, Chair Unannounced attendees via phone

Peter Oliver, Director

Jim Walker, Director via phone

Jody Olson, Secretary

Hy Kloc, Director via phone Board Absent None

Others Present

Pat Rice, Boise Centre

Anne Marie Downen, Boise Centre

Pam Carpenter, Boise Centre

Mike Stoddard, Hawley Troxell

I. Call to Order

Ms. Muchow called the meeting to order at 2:00 p.m.

II. Roll Call Ms. Carpenter took attendance by voice roll call: Ms. Muchow – Present Mr. Walker – Present via phone Mr. Kloc – Present via phone Mr. Oliver – Present Mr. Olson – Present

Page 2 of 3

III. Changes or Additions to the Agenda No changes or additions

IV. Agenda A. Chairman’s Remarks – Kristin Muchow

B. Approval of Minutes

i. Regular Board Minutes for June 17, 2020 Ms. Muchow made note to correcting the typing error of “Board Present” to “Board Absent” at the beginning of the July 17, 2020 minutes. A motion was made by Mr. Olson to approve the Regular Board Meeting Minutes of June 17, 2020 noting the change to the typing error. Mr. Oliver seconded the motion. The motion was approved unanimously. Timestamped 2:03 p.m.

C. Executive Director’s Report – Pat Rice, Executive Director Mr. Rice provided a summary of current events and Boise Centre updates. Mr. Rice presented the Executive Director’s Report by PowerPoint presentation. Ms. Downen reported on finances. A motion was made by Mr. Oliver to accept the June 2020 Executive Director’s Report as presented. Mr. Olson seconded the motion. The motion was approved unanimously. Timestamped 2:25 p.m.

V. Other Business:

A. HB 500 Update – Pat Rice Mr. Rice provided an update regarding HB 500. Discussion followed by the Board. Mr. Rice will continue to follow and provide information as it becomes available.

VI. Adjournment There being no further business to come before the Board, Mr. Olson made a motion to adjourn. Mr. Oliver seconded the motion. The motion to adjourn was unanimously approved. Meeting was adjourned at 2:35 p.m.

___________________________________ ___________________________________ Kristin Muchow, Chairman Jim Walker, Vice Chairman ___________________________________ ___________________________________ Hy Kloc, Director Peter Oliver, Director

Page 3 of 3

___________________________________ Jody B. Olson, Secretary Note: the following materials will be attached to and provided with these minutes: Meeting material for August 19, 2020:

• Regular Board Meeting Minutes July 21, 2020 • Executive Director’s Report July 2020

NOTICE OF REGULAR MEETING GREATER BOISE AUDITORIUM DISTRICT

Revision 1 Wednesday, August 19, 2020

2:00 P.M. MDT Boise Centre West – Room 200

Board and Public Zoom Meeting (Dial in Only)

By phone: 1-253-215-8782 US Meeting ID: 319 290 5355

Passcode: 195978

Please be aware, Boise Centre will REQUIRE TEMP CHECKS for anyone entering the Boise Centre facility, effective Wednesday, June 10, 2020. Entrance is through the main entrance to

go through thermal imaging. If a guest refuses or their temp is at or above 100.3 degrees, access to the facility will be denied. Per current Central District Health guidelines MASKS

ARE REQUIRED. Seating is limited to accommodate physical distancing.

AGENDA

I. Call to Order

II. Roll Call

III. Changes or Additions to the Agenda

IV. Agenda:

A. Chairman’s Remarks – Kristin Muchow B. Approval of Minutes –

i. Regular Minutes, July 21, 2020 C. Monthly Activity and Financial Report – Pat Rice, Anne

Marie Downen

Action Item

Action Item

Action Item

V. Other Business:

A. Idaho Fairness in Women’s Sports Act Update – Pat Rice

VI. Executive Session: 74-206(1)(c)—to acquire an interest in real property not owned by a public agency

VII. Future Project Development Discussion – Kristin Muchow

VIII. Adjournment

Discussion

Action Item

Discussion

Action Item

EXECUTIVE DIRECTOR REPORTJULY 2020

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Boise Centre 30 Year Anniversary Logos

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ACTIVITIES

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Successfully held meetings for Idaho State Bar, Rotary and an Investment group

Gained support of Central District Health to host the Idaho School Administrator Convention in August

Continuing to monitor future months and evaluating ongoing changes

Working with Ada County Courts to provide space October through December

Met with Governor Little’s staff to help provide information regarding meeting facilities ability to

host meetings safely.

GOALS

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Fiscal Management: Boise Centre Subsidy

Cash Position

Budgeted transfers are made as cash is needed - $500K transferred in July; remaining to be funded $3.3 million, which includes $1.5 million from stabilization fund

Updated to reflect additional commitment to Boise Centre operations of $1.5 million through FY20

in 000's Actual-YTD Goal-FYE % RemainingControllable (P&L and CapX) 2,196$ 4,832$ 45% 2,636$ Fixed (Fees) 181$ 289$ 63% 108$ Fixed (Lease Payments) 1,123$ 1,685$ 67% 562$ Total 3,500$ 6,806$ 51% 3,305$

Dollars (in 000's) Actual Budget Variance Budget FYE %Cash 23,250$ 23,879$ (629)$ 25,130$ 93%Restricted Funds (250)$ Priorities *Health & Safety of guests/employeesStabilization Fund (4,500)$ *Economic ImpactCommitted to Centre April 2020 (1,500)$ *ReputationBCW Ceiling Project (6,000)$ *SubsidyCash to Invest 11,000$

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FINANCE

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Combined Revenue and Expense* (000’s)

*Expenses include $2.5 million in depreciation, amortization and interest

4 meetings plus the board meeting for revenues of $15K. Boise Centre net losses reduced from $751K in June to $652K in July, a reduction of $99K, due to cost reductions.

Staffing reductions continued in July as all full-time staff were furloughed 5-7 days. In addition, 15 employees chose to furlough the full month of July.

District hotel tax revenues continue to rebound: from $230K to $416K, 46% underbudget yet an $186K increase over June revenues.

Year over year decreases in revenues reflects the financial impairment caused by COVID, when prior to March, 2020 was on another record setting pace.

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June tax revenues rebounded from $230K to $416K.

Revenues below July budget of $849K.

April reveunes of $125Kappears to be the bottom of the decline.

Auditorium District Tax (in 000’s)

.

Hotel Statistics

Supply and Demand

Revenues (000’s)

Room supply back to 2017 levels.Room demand increased by another 64%, but still a long way to go.

Hotel StatisticsHotel occupancies are at 54%, up from May of 33%. ADR has also increased from $76.79 to $86.24.

Boise Centre Revenues

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Operating revenues for external events were at $15K. Below is the actual/forecast (red line) with no events in April, May, June; revenues are forecasted to be significantly lower than normal for the remainder of 2020 as the economy takes time to recover. Current revenue estimates for 2020 are around $3.3 million, down from budget of $7.5 million, a 56% decrease in revenues.

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Square Foot Usage by Month**

Target Range*

**340 days (excludes federal holidays, the weeks of Christmas and 4th of July.)Dec 2016: Summit was closed for redesign for Junior ballroom

Actual Square Footage

* Source: 50%-70% based on CSL Feasibility Study, Dec 2017

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SALES, MARKETING & PUBLIC RELATIONS

Convention Pipeline

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Boise Centre Conventions in Pipeline

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Convention Contracts Confirmed in FY 2020 YTD: 59 Goal: 65Confirmed: 90% of Goal

• Confirmed conventions dip significantly in 2020 due to COVID; cancellations and current uncertainty impact pipeline• Rebooking activity has predominantly been for 2021, though we begin to see rescheduling for 2022 and 2023• Prior to COVID-19 impact, FY 2020 last reported 46 Definite Conventions and 11 Tentative Conventions• Positive indicators for 2021; all Tentative-Definite events currently reflect an estimated 30K room nights, $25M in economic impact

Confirmed Conventions - Convention GradeA = Citywide (300+ peak room nights)B = Midsize (100-299 peak room nights)C = Small (<100 peak room nights)

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Aim for 20% A-Citywide; 50% B-Midsize; 30% C-Small

Impact of COVID-19 on Boise Centre Events*

*Contract issued or signed

Event Days Forecast Attendance (Aggregate)

Estimated Total Room Nights

Forecast BSU Economic Impact

Forecast Minus Tax

226 97,907 16,182 15,849,038 2,632,899.6034 12,385 290 1,357,620 223,230.0024 5,460 601 772,816 215,360.0022 2,370 420 394,073 120,691.6026 9,805 2,220 1,808,042 410,458.0016 2,905 52 312,538 225,157.0012 1,932 572 405,833 186,330.0035 7,930 4,422 2,429,864 441,418.0020 8,750 2,445 1,784,381 278,460.0022 37,750 1,890 4,508,702 314,000.003 400 0 40,397 20,225.004 4,120 2,375 1,291,001 77,580.001 0 0 0 0.007 4,100 895 743,772 119,990.00

58 19,855 7,483 4,761,820 768,517.007 1,895 2,112 969,408 23,850.00

12 2,700 1,700 898,932 218,705.007 4,260 1,150 853,869 175,162.005 1,800 750 458,074 46,100.007 3,600 100 400,410 39,550.006 2,900 601 514,276 57,650.00

12 2,000 970 559,317 177,350.002 700 100 107,533 30,150.00

77 22,970 5,554 4,365,797 1,051,173.009 2,770 250 371,844 116,548.00

10 4,860 500 675,014 97,438.0022 4,780 1,535 1,048,213 343,761.004 520 380 192,502 32,225.004 2,000 100 238,823 26,020.007 2,760 1,150 702,380 123,879.001 300 0 30,298 21,882.00

18 3,780 1,431 908,908 239,670.002 1,200 208 197,815 49,750.00

August, 2020 - Count: 2September, 2020 - Count: 1October, 2020 - Count: 7February, 2021 - Count: 1

Cancelled & Rebooked - Count: 40March, 2020 - Count: 6April, 2020 - Count: 7May, 2020 - Count: 12June, 2020 - Count: 2July, 2020 - Count: 2

May, 2020 - Count: 5June, 2020 - Count: 2July, 2020 - Count: 2August, 2020 - Count: 2September, 2020 - Count: 4October, 2020 - Count: 1

February, 2021 - Count: 1March, 2021 - Count: 1April, 2021 - Count: 3

Cancelled - Rebook Pending - Count: 24March, 2020 - Count: 3April, 2020 - Count: 5

July, 2020 - Count: 10August, 2020 - Count: 7September, 2020 - Count: 22October, 2020 - Count: 13November, 2020 - Count: 7December, 2020 - Count: 2

COVID Cancellations

Cancelled - Count: 131March, 2020 - Count: 13April, 2020 - Count: 17May, 2020 - Count: 19June, 2020 - Count: 16

2020 2021 TotalCancelled, Lost Revenue 2,415,105 217,795 2,632,900Cancelled, Rebook Pending 768,517 768,517Cancelled, Rebooked 1,001,423 49,750 1,051,173

COVID-19 Rebookings + Prospecting Efforts

• COVID cancellations/rebooking’s impact 2021, yet the year has a solid foundation: estimated 30K+ room nights, $25M+ in economic impact (based on Tentative-Definite events)

• Launched Meetings Recovery Campaign with the CVB and Digital Edge; initial emails sent in August specifically targets Treasure Valley business and community leaders, in-state planners, national contacts, and ASAE participants; estimated 19,800 people

• Digital and social marketing efforts targeted to achieve 350K impressions per month

• 2021 incentives to attract small- to mid-size conventions; Boise Centre concessions on room rental with hotel partners offering zero attrition for new, qualifying events

• Collaborating with the CVB on a virtual destination update and local wine tasting scheduled for August 6; 19 planners confirmed (74% representing new business)

Event Days

Forecast Attendance (Aggregate)

Estimated Total Room Nights

Forecast BSU Economic Impact

Forecast Minus Tax

101 30,555 12,577 7,718,986 1,042,974.4017 7,320 4,491 2,393,677 157,502.0027 3,240 1,572 906,315 167,465.008 3,200 0 323,175 120,245.60

17 2,430 531 441,023 122,696.6032 14,365 5,983 3,654,796 475,065.20Fully Executed - Count: 11

COVID-19 Rebook - Count: 35Bid Pending - Count: 4Tentative - Count: 10Contract Sent - Count: 4Definite - Count: 6

COVID-19 Rebookings

Meetings Today: July-August 2020 Issue

Back Cover – No CostCirculation of 55KReadership 138KArticle highlights Boise Centre as Standout Venue

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Thank you!