Building on Success & Creating a Future. Winter was rescued in 2006 after being entangled in the...

Clearwater Marine AquariumBuilding on Success & Creating a Future

Winter was rescued in 2006 after being entangled in the ropes and chains of a crab trap. She lost her tail, and was not expected to live.

She received 24/7 care at Clearwater Marine Aquarium, and through shear determination, she lived and learned to swim.

2Building on Success & Creating a FutureMarch 2013

It all began with Winter!

Winter received a prosthetic tail, and continues to thrive today at CMA, inspiring millions with her story of hope and determination.

March 2013 Building on Success & Creating a Future 3

Winter’s amazing story generated a lot of interest in the Media.

Building on Success & Creating a Future 4March 2013

The media attention led to the publication of a very successful children’s book

about Winter’s story.


Hollywood took notice, resulting in the successful production of Dolphin Tale.


• Global Release, September 2011

• A-List actors

• # 1 box office hit

• Media Junket at Clearwater Beach

• 75% national awareness upon release

• University of South Florida School of Business conducted and economic impact study, showing a projected impact of $2.1 to $4.9 million on tourism over a five year period.

The movie has had a major impact on CMA and the entire Tampa Bay area.


Following the movie, Scholastic published two more books, featuring Winter and the Dolphin Tale plot line.

People all over the world were learning about Winter and wanted to visit her in Clearwater, Florida.

And they came! CMA Attendance increased dramatically after the release of Dolphin Tale.

CMA’s annual attendance growth, even prior to the September ’11 release of Dolphin Tale, was outperforming local and national industry peers in a down economy.


Expanding our capability to fulfill our mission$14.5 Million Expansion to be completed 1st quarter 2014 will allow us to accommodate another 250,000 visitors a year to our marine rescue center. Added to the 750,000 who visited in 2012, this will limit our visitors to 1,000,000 per year.


Future Growth Is Limited

CMA has a limited opportunity to grow and expand beyond the current project because:

• Island Estates is primarily a residential community.

• The physical footprint of land surrounding CMA is limited.

• We have no space for Winter’s Dolphin Tale Adventure if Harborview is demolished.

For CMA to continue our growth and impact on the community, and to fully capture the opportunity presented to us:

We must think Strategically


Future attendance projections with and without a second facility

Building on Success & Creating a Future 11

Note: CMA reaches a physical limitation on capacity around 2016 for the Island Estates facility.2017 attendance estimates (in gold) assume a new facility. This represents incremental tourists coming to Clearwater.

We believe our forecasts are reasonable and conservative based on Georgia Aquarium’s first year attendance of 3.6 million without any past history or awareness but similar demographics. These forecasts also took into consideration our proximity to Florida Aquarium.

March 2013

CMA’s ultimate plan is to have two thriving, successful facilities

• Clearwater Marine Hospital – Nearly all of the current Island Estates facility would be used as the “hospital,” with a research and education element. It would continue to have only a minor tourism aspect.

• Clearwater Marine Aquarium – The Downtown facility would house the primary tourism and education components of CMA’s mission, including resident animals such as Winter and Hope.

Clearwater Marine Hospital(Island Estates)

Clearwater Marine Aquarium(Downtown Clearwater)


2nd Facility – Proposed Details

• World Class Aquarium – 200,000 square feet• Located in downtown Clearwater, on the current

City Hall property• Current resident animals will reside at the new

facility, including Winter and Hope• Additional space for interactive exhibits, an

impressive two-story coral reef, outdoor animal exhibits, a dolphin stadium

• Interactive educational programs• Multi-function event room for private parties and

events, to accommodate up to 350 guests, the largest space in Clearwater.

Aerial Rendering View from Coachman Park


N

Note: Space between proposed Aquarium building and Waters Edge building is approximately 130 feet

Front Entry Rendering

N

Approximately 200,000 Gross Square Foot Main Aquarium Facility


New Aquarium Entrance Facing Northwest



Level 1 - Park Level (Conceptual)

N

(Future)

March 2013


Level 2 Exhibits (Conceptual)

N

March 2013


2 Story Coral Reef Exhibit (Conceptual)

March 2013


Level 3 - Upper Level (Conceptual)

N

March 2013

New Aquarium & Conceptual Master Plan for Coachman ParkPlease note: CMA would be responsible for the Aquarium facility only. The plans for Coachman Park presented here are meant to provide an idea or vision for the downtown area centered around a new, world-class aquarium.

1. Marina 2. Water Feature 3. Recreation Lawn4. Terraced Amphitheater 5. Stage 6. Marina Parking7. Library Parking/Drop-off 8. Interactive Fountains 10. Green Space Plantings11. Roundabout Landscaping 12. Main Aquarium 13. Aquarium Exterior Exhibits

14. Aquarium Receiving Dock 15. Parking Garage

21Building on Success & Creating a Future

N

March 2013

Project Estimates - $160.5 Million(Millions)

• Exhibit and Show Venue Construction Cost $50.7• Non Exhibit Construction Cost 8.2• Building Systems 50.0• Parking Structure (630 spaces) 7.6• FF&E, Site and Utilities 2.8• Total Aquarium & Parking Construction Cost $119.3• Soft Costs (Design, Engineering, Project Mgmt,

Adds/Changes, Permits, Contingencies, etc) $41.2• Total Construction Costs $160.5


Pre-ConstructionDesign & Engineering costs and timeline

Pre-construction Costs for Design & Engineering $9.5 million

Phase Percent CostCost Months

Programming 2% .2 2

Schematic Design 13% 1.6 4

Design Development 20% 2.4 6

Construction Documents 45% 5.3 10

Total 100% $9.5 22

Duration

22 Months Pre-construction

24 Months Construction

42 Month project duration from time of approval.

Note: This includes Architecture, Exhibit Design, Engineering, Specialty Consultants, Project Management Services, and Reimbursable Allowances. This timeline does not include time allocated for Owner Approvals, Pricing Efforts, and Fundraising.


Fundraising consultants hired by CMA

Bob Carter Companies (BCCo), Sarasota, FL

Bob Carter, Principal:

• Past President of nationally known Ketchum, (now Pursuant Ketchum). He led the organization for 16 years.

• The firm is a leader in philanthropic counsel and fundraising consulting, serving education, healthcare, human services, and arts & cultural organizations.

• He is the current national Chair of the Association of Fundraising Professionals.


Potential Funding Sources & Estimated Amounts

Source Contribution Range (in millions)

Major Donors 20 - 45

Small Donors 5 - 10

Government Entities 35 - 60

Corporate 10 - 30

Grants 5 - 10

NOI - Current Facility 15 - 20

Bank financing 60 - 80

Total Needed $160.5

Note: - CMA is NOT requesting funds generated from additional taxpayer dollars.

- Net operating income (NOI) from new facility will service debt.


Government Funding Sources

It is the intent of CMA to pursue Government Funding on several levels that relate to:

• Environmental preservation – Federal and State• Tourism promotion – State and County• Economic development – City

CMA is not requesting ANY taxpayer money from Ad Valorem Tax (Property Taxes), General Funds or City Reserves.

The structure of the City’s lease with CMA will preclude any City obligation to CMA creditors in the event of a default.


Project Timing

Activity Date

• City Council Review Mar ’13• Fundraising activities initiated Mar ’13

• Public• Private• Corporate

• Referendum Nov ’13• Project Funding Commitments in place Mar ’15• Design Development phase completed Mar ’15 • Construction to begin Apr ’15• Grand Opening Apr ’17


Benefits of a Downtown Aquarium

• 2 + million new visitors per year will enjoy the Area and Downtown/Coachman Park vicinity & Promote economic development in the Downtown area.

• Hotels, restaurants and merchants in Pinellas County capitalize on visitor impact.

• Job Creation Direct - CMA projects an increase of 430 jobs to be created; Indirect – downtown business expansion, hotels and restaurants.

• The project promotes the expansion and redevelopment of green space in Coachman Park

• Reduces stress on Island Estates and traffic on Memorial Causeway.


Site Selection Criteria

• Saltwater access is a key element

• Proximity to our existing facility

• Positive economic impact to the selected area

• Ease of accessibility for tourists and other attendees

• Feasibility of assembling land

• Acceptance by the community


Sites EvaluatedSuper Block (property that borders the East side of Osceola Ave, South side of Drew St., West of Ft. Harrison Ave. and North of Cleveland St.)

• Large enough and close enough for water access to be a feasible alternative• Owned by multiple entities and the likelihood of assembly is quite uncertain• Constructing a non-profit aquarium on this site would limit future development

opportunities for tax revenue optimization

Current Harborview Site• Engineering evaluations preclude the existing building from conversion • Key constituencies with an interest in the Coachman Park area would prefer HVC

to be replaced with an expansion of Coachman Park• Constructing in the HVC footprint would block vistas to the water from the upland.• CMA lost revenue during construction

City Hall Site• Building is obsolete and has a high maintenance cost to the City• Has good water access• Provides an opportunity to expand and create a master plan for Coachman Park• Excellent proximity to downtown• CMA owns adjacent South property for additional development


CMA’s Proposal to City Council Agreement to move toward a CMA funded special

referendum for Citizen approval to lease City Hall site for construction of an aquarium facility

Direct staff to work with CMA toward a memorandum of understanding with details for a land lease

Assistance in drafting language for special referendum

• Lease extension of Harborview Center until completion of new facility (won’t occur unless referendum passes)

• Extension of Tax Increment Financing for the CRA


Questions & Answers


Why hasn’t Dolphin Tale Adventure had more impact?


• Winter’s Dolphin Tale Adventure is temporary. It is located in the Harborview Center, and the lease will expire in 2014.

• Investors want a long term solution to invest $• Tourists demand family friendly stores and restaurants.

A permanent Aquarium that brings 1+ million visitors to Downtown WILL attract investors, upscale retail shops and restaurateurs as well as other economic development to downtown Clearwater.

Why a special referendum?


• Currently, Clearwater Marine Aquarium has a great deal of momentum. From pre-construction planning to the start of construction will take an estimated 22 months.

• It is important for us to have a decision on the referendum prior to expending significant dollars to break ground by March 2015.

• The referendum will be paid for entirely by CMA

What if Winter Dies?

March 2013Building on Success & Creating a Future

35

• Winter is a young and healthy dolphin with a life span of up to 50 years.

• Winter is building her own brand. Her brand and stories about inspiring others will survive in perpetuity.

• Hope is being pared with Winter as a life partner and to diversify awareness

• CMA is intentionally diversifying its other resident animal awareness with advertising “I Have A Tail Too” campaign

Mickey was created in 1928 and never lived!

Winter was born in 2005 and inspires people every day!

What if the aquarium is not successful?


Taxpayers will have no obligation for CMA’s Debt.

It will be the responsibility of the creditors to replace management and operate the aquarium

or

Abandon the land and buildings back to the City with no financial responsibility for any outstanding debt.

If approved, is the City giving the land to CMA?


NO!

CMA is requesting a 60 year lease of the land to build the new aquarium.

The land will remain owned by the Citizens of Clearwater and CMA will be solely responsible for maintaining the land and facility.

What Happens at the end of the Lease Term?


The City will have the option to:

• Re-lease the land and buildings to the Aquarium for its continued operation.

• Take back possession of the land and buildings and do with it whatever is in the best interest of the Citizens of Clearwater.

Will CMA be changing its non-profit status?


NO!

CMA will remain a Not-For-Profit 501(c)(3)

Our mission will remain “to preserve our marine life and environment while inspiring the human spirit. We will accomplish our mission through leadership in education, research, the rescue, rehabilitation, & release of marine life, and personal experiences with our animals.”

All profits generated by the new facility will be used to fund our work in educating the public on the preservation of the marine environment and helping to support our hospital/rescue and rehabilitation facility on Island Estates.

Building on Success & Creating a Future

Building on Success & Creating a Future. Winter was rescued in 2006 after being entangled in the...

Documents

Transcript of Building on Success & Creating a Future. Winter was rescued in 2006 after being entangled in the...