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HomeMy WebLinkAboutCCDATE=JUNE 12, 2008 (6) dramatic start and finish lines at Fox Trot. It will be used at Fox Fire Fest as a dramatic entrance to the artists' area on Grove Avenue. Economic Research Associates, who did the preliminary study on whether a new facility was feasible and preferable to remodeling the Hemmens, is now doing a more extensive study on the subject. They will be looking intensively at the structure of this building, from digging down to the pylons to looking at the HVAC system to see if the structure of the building could support the type of improvements that were suggested in the 1999 master plan. The study will address the following: if it can be done, what would be the real cost vs. the cost of a new building be, would we spend $40 to $50 million on this and in 10 years need to do something more; why do that when the money could be put into a new building now? Mike Powers expanded on the subject. This study will do the hard work of taking a serious look at this building to determine what needs to be done to drop in 2,000 — 2,200 seats. A 1,200 seat hall is not economically viable. The feasibility determination involves not only the actual cost of either plan, but also the financial ramifications, payback, and net present value analysis. This study will cost $290,000. There is not a time frame for the recommendations, but it is hoped it will be done by time the City is finalizing the budget. Discussion ensued regarding the types of entertainment that should be part of the plan. Mike suggested that the Board set aside outside influences and design an optimum calendar with a mix of national and local acts, orchestral and pop music, theatrical productions, dance groups, and so on for a 2,000 to 2,200 seat house. The reason the city has commissions such as the Hemmens Advisory Board is to get good thinking from smart people who are interested in the quality of life for the community. A new performing arts center would have a substantial community component, but it must do things that will be money-makers to finance things good for the community. Butch discussed the financial considerations of various types of productions. There are many more performance venues than when The Hemmens was established in 1969, thus there aren't as many theatre groups using our space as in the past. Part of the dialogue on the new building will include the possibility of a 2"d performance space, a black box space, for such events. Also, consideration should be given to "B Tours" of Broadway shows, i.e., The Producers which are presented at venues like ECC. Such productions are expensive to put on .and must run for a slightly longer period to earn that money back. However, they bring prestige to the theatre as well as drawing a new audience. Randy pointed out that dance recitals are very profitable and they consistently bring new people to the facility. This must be another criterion in our decision making...what would bring people out on a regular basis so they can see what is happening in Elgin? Questions were raised regarding exhibit space. Proper acoustic separation between theatre and exhibit space would allow it to be utilized much more than it is. We would like to have exhibit space similar to the Mega Center at Pheasant Run that would be set up with a stage at one end to be used for banquets, conferences, and dance competitions. Mike commented that the City is very serious about building a full service hotel, sooner rather than later. It is