Transfer of Capitol Theatre to St. Clair College
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MUNICIPALITY OF CHATHAM-KENT CORPORATE SERVICES INFORMATION REPORT TO: FROM: Mayor and Members of Council Gerry Wolting, B.Math, CA General Manager, Corporate Services February 29, 2012 Transfer of Capitol Theatre to St Clair College
DATE: SUBJECT:
This report is for the information of Council. EXECUTIVE SUMMARY At its closed session meeting of October 17, 2011, after hearing a proposal from St Clair College (SCC) on the operation and ownership of the Capitol Theatre (Capitol), Chatham-Kent (CK) Council instructed administration to meet with SCC to negotiate the best possible terms to enable Council to consider this opportunity. The result of those negotiations was that, in closed session on December 5, 2011, Council approved the following: That Council: A) Enter into an agreement with St Clair College for the operation of the Capitol Theatre under the following conditions: 1) Operation of the Capitol: a) SCC to assume operations on March 1, 2012 with no requirement for municipal subsidy (operating or capital) b) Currently scheduled events: - rental events to be assumed by SCC under existing terms as negotiated by CK - at risk events (3): o SCC to assume these events under existing terms as negotiated by CK o CK to assume any net loss based on theatre rental rates in effect at time of booking c) An advisory committee be put in place: - made up of CK theatre patrons and SCC core members - no members of Council or administration - no decision making authority
Transfer of Capitol Theatre to St Clair College
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2) Ownership of the building: a) CK commits to ownership transfer on March 1, 2012 (subject to senior government approval) on a debt free basis b) SCC assumes all existing conditions of senior government agreements (currently in place until March 2027) c) CK and SCC to negotiate earliest possible transfer date with senior levels of government d) Transfer on March 1, 2012 is on an as is/where is basis - SCC has until January 31, 2012 to identify any building deficiencies that require CK resources to correct (note: during negotiations, this date was changed to March 31, 2012). 3) Exit options: a) After ownership transfer: - if no purchaser available to SCC: o twelve months notice required (unless otherwise agreed upon) o no compensation required for building, operating results or capital improvements o CK to have first option to buy, at fair market value, any capital equipment purchased by SCC - if purchaser available: o twelve months notice required (unless otherwise agreed upon) o right of first refusal available to CK at price offered by third party available to CK until March 2027 under any ownership scenario o no compensation required for operating results or capital improvements b) Capitol to operate as a theatre until March 2027 independent of who owns the building 4) Request re equipment deficiencies: a) CK agrees to provide up to $200,000 for equipment deficiencies as identified by SCC (note: during negotiations, SCC was given until March 15, 2012 to submit these details). b) Surplus equipment from the idling of Kiwanis Theatre may be substituted if agreed to by SCC 5) CK access to programming: a) CK able to rent Capitol similar to any other user or, preferably, sponsor shows put on by SCC subject to SCC approval of proposed event and timing b) CK able to use Capitol rent free for up to 6 non performance events per year for 10 years B) Approve the idling of the Kiwanis Theatre as outlined in this report. C) Refer the financial implications as outlined in this report to the appropriate budget process(es).
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On December 12, 2011, again in closed session, Council approved the following additional recommendations: D) In order to “lock down” the negotiated terms, Council approve CK and SCC entering into a Memorandum of Understanding (MOU) by December 22, 2011 with terms as approved in recommendations A, B and C above (note: the MOU was signed on February 10, 2012) . E) Council authorize administration to enter into the appropriate legal agreement(s) for the operation of the Capitol Theatre and the title transfer of same as approved by Council in recommendations A, B and C above with such agreement(s) to be ready for approval by February 1, 2012 (see note 4 below). F) Due to the delay in transferring operations, Council authorize administration to operate the Capitol until March 1, 2012. As noted in the applicable recommendations and summarized below, the negotiation process resulted in minor changes to the above recommendations. Administration felt the changes were not material enough to warrant further approval being required from Council: 1) The due diligence period given to SCC for building conditions in recommendation A 2 d) was changed from January 31, 2012 to March 31, 2012. 2) The due diligence period given to SCC for equipment deficiencies in recommendation A 4) was extended to March 15, 2012. 3) Recommendation D called for the MOU to be signed by December 22, 2011. The actual date of signing was February 10, 2012. 4) Recommendation E called for the legal agreements to be ready for administrative approval by February 1, 2012. It is anticipated that the majority of the agreement will be finalized in the next several weeks. Provincial approval and property matters will take more time. A signed MOU is in place and the necessary interim agreement that reflects Council’s existing decisions will be in place to cover the interim period.
END OF EXECUTIVE SUMMARY
Transfer of Capitol Theatre to St Clair College CAPITOL THEATRE INFORMATION REPORT Over the past year, all issues related to the Capitol Theatre have been managed by an interim management group made up of: Alysson Storey, Manager of Culture and Special Events Lesley Grand, Theatre Programmer Jim McNamara, Budget Analyst Gerry Wolting, General Manager of Corporate Services
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This team drafted all reports and presentations required for Capitol Theatre issues since late 2010. This information report is provided to summarize the final decisions made regarding this significant issue. Due to the legalities of the receivership process and the various negotiations undertaken, all previous reports and presentations to Council on this matter were discussed in closed session. BACKGROUND The Capitol Theatre is a 1,214 seat entertainment venue in the heart of downtown Chatham. The Capitol first opened as a movie house in 1930 and has recently undergone a major reconstruction to become a first-rate destination for live entertainment. In March 2008, Chatham-Kent, acting in partnership with the Chatham Capitol Theatre Association (CCTA - an independent non-profit organization) to obtain senior government funding for the completion of the Capitol, assumed ownership of the building. In September 2010, after a long and sometimes arduous journey, the CCTA opened the Capitol to the public with the following vision: CCTA Vision: Engaging, Inspiring, Transforming. CCTA Mission: Creating experiences for enjoyment, learning and growth. CCTA Objectives: i) To be a leader in the local, regional and national arts community. ii) To present arts and entertainment in a wide variety of genres. iii) To develop staff and volunteers in order to offer a high level of customer service. iv) To strive toward financial stability. v) To be a major partner in developing Chatham-Kent as an attractive tourist destination. vi) To play an important role in economic development.
Transfer of Capitol Theatre to St Clair College In its inaugural season, the Capitol experienced the following attendance: Tickets: -
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49,415 sold average of 60% of house sold $1.7M in revenue average price of $35
Customers: - 8,410 individual households purchased tickets - average of 6 tickets or $210 per household - location of households: o 368 in Wallaceburg o 4,328 in Chatham o 1,987 in other areas of CK o 1,664 Canadian households outside of CK o 63 households in the US Unfortunately, the business model of the CCTA failed resulting in CK, acting as a secured creditor, petitioning the CCTA into receivership on March 1, 2011 and funding the remainder of its inaugural season.
Transfer of Capitol Theatre to St Clair College At a high level, the interim operating plan approved by Council can be summarized as follows: Preliminary Budget Actual To Dec 31 To Dec 31 Revenues: At risk performances1 (note 1) $225,000 $234,000 Rental events2 10,000 102,000 3 Non performance revenue 49,000 33,000 Total revenues $284,000 $369,000 Expenses: Wages & benefits Building occupancy costs Provision for contingencies & all other expenses At risk performances Total expenses Net requirement from reserves
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$110,000 119,000 55,000 425,000 $709,000 $425,000
$117,000 145,000 25,000 444,000 $731,000 $362,000
Notes: 1) “at risk performances” revenue recognizes the requirement of $180,000 for tickets sold prior to receivership whose value was not available to CK. Council authorized $400,000 in February 2011 to cover operations up to June 30, 2011 and an additional $25,000 in November to provide funding to December 31, 2011. It has taken longer than expected to get to a final report stage. However, costs were phased down more quickly than originally anticipated so, as stated above, as of December 31, 2011, $362,000 of the $425,000 has been used. On December 12, 2011, Council authorized administration to operate the Capitol until March 1, 2012. The unused 2011 funds will be applied to the requirements for the period January 1 to March 1, 2012.
At risk performances: With this option, the theatre pays the performer or production company a contracted performance fee. The theatre is responsible for all aspects of putting on the performance and net ticket sale proceeds belong to the theatre. However, most performance contracts include a clause that a significant portion of ticket sales over a set gross profit amount accrue to the performer.
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Rental performances: With this option, the theatre rents its facility to the production company. The production company is responsible for all direct costs of the performance (including marketing) and receives the net proceeds of all ticket sales. The theatre is paid a rental fee for the facility and recovers incremental costs associated with production set up, box office and normal ticket surcharges. Non performance revenue: Non-performance revenue is an integral component of theatre economics achieved from sources such as donations, memberships, grants, subsidies and sponsorships.
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Transfer of Capitol Theatre to St Clair College COMMENTS
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A final report from the Receiver on the CCTA is expected to be submitted to the Courts in the near future. The only remaining matter to be dealt with by the Receiver is the disposition of the Annex (the building owned by the CCTA that is directly west of the Capitol). In outlining the “go forward” options for the operation of the Capitol, Council was given information broken down into the following segments: a) The vision required for the Capitol b) Operating models considered: - St Clair College - municipal - other existing theatre operators - partnerships between any of the above - independent board - closing the Capitol c) Issues independent of the selected operating model: - other municipalities’ investments in theatres - proposed approach to lifecycle requirements - unfunded project costs - future operation of the Kiwanis Theatre - status of the Cultural Plan Implementation Project d) Summary A) THE VISION REQUIRED FOR THE CAPITOL: All reports on this issue have been based on the belief that the Capitol is a strategic piece of the quality of life puzzle that is required for the continued economic and cultural development of our community. Based on this principle, the goal was to maximize the Capitol’s potential by way of a sustainable operating model. With this goal in mind, the vision for the Capitol should be very similar to the CCTA’s original vision as outlined at the beginning of this report. The one difference should be that the objective “to strive toward financial stability” should be reworked to state “to achieve financial stability”. The selected operating model should focus on the many different aspects of community development and work with and seek input from, a wide variety of user groups across CK. This includes programming and collaboration with: educational institutions at all levels local businesses, non-profit and charitable organizations other levels of government
Transfer of Capitol Theatre to St Clair College local, regional and national tourism providers other municipal departments/divisions broader cultural and performing arts sector across North America One of the primary responsibilities should be to continue to sustain, grow and develop new audiences, and generate excitement in a variety of accessible and dynamic programming.
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In-house expertise in our culture, tourism and recreation divisions should be leveraged to raise awareness across the region (southern Ontario, southeastern Michigan and northeastern Ohio) about the many entertainment and business development options with the Capitol and surrounding areas. Partnership and sponsorship opportunities should be explored through our BIAs and local businesses. These partnerships would assist in increasing the profile of the sponsor business and generating crucial revenue for the Capitol. B) OPERATING MODELS CONSIDERED: With the proper investment and governance in place, the above vision could be achieved by a number of operating models. Models considered were as follows (in no specific order): Option 1 … the Capitol operated by St Clair College: SCC has the experience of successfully operating the Chrysler Theatre in Windsor. They require no municipal subsidy for that operation. SCC has expressed an interest to expand its portfolio in CK and operate the Capitol. SCC has indicated its motivation to operate the Capitol is three-fold: - to become more involved in the community - to enhance marketing efforts to students - to become involved in downtown Chatham SCC provided the following overview for its vision of the Capitol: “St. Clair College envisions a campus that will bring students into the downtown core. Consistent, and in support of the Municipality’s vision, it would seek to be a contributing factor to a vibrant downtown, one in which there would be many people of all ages on the streets, participating in activities that would include dining, shopping, entertainment, education as well as visiting the many historic and unique tourist opportunities that are available in the Municipality of Chatham Kent.
Transfer of Capitol Theatre to St Clair College To make this happen, the College would see several important next steps. It would within thirty days of takeover, establish the ChathamKent Advisory Board for the Theatre. This group, chosen by the College, would be a collection of people with interest and expertise in the offerings that might be held at the Theatre and will assist in potential donor and community partnerships. Academic development of a School of Dance within the Theatre would be the first initiative. Event management would follow. Theatre arts performance students, entertainment technology students, hospitality and tourism students, business students, law and security and police foundations students would all become part of the operations of the theatre. Our hope with respect to Theatre programming would be to quickly establish partnerships with tourism, black history, the BIA, Culture and Recreation, industry partners, the Chambers of Commerce, and private sector partners, to create a value added theatre experience. Examples of these partnerships might include theatre performances to coincide with Retrofest, celebrations around the war of 1812, Buxton homecoming, Threshing Festival, etc. The opportunity to have dinner and theatre packages would be pursued. The additional opportunity of showcasing some of the rich agricultural products of the region could also be paired with theatre events to promote and support the targeted strategic direction of growing high value agriculture and agricultural tourism. Imagine the possibilities of strawberry and local wine and a summer play. Opportunities for partnership with Libraries, Ontario works and other educational partners include skills training and learning and growth areas. The College would envision the theatre as a venue to host the Literary Arts Festival, and possibly Thames Institute for the Arts and Campus for Kids as well as a series of key note speakers to address current regional and global interests. The opportunity to host a Southwest guitar summit would be considered part of the summer learning offerings. The College would encourage and support the volunteers that currently exist at the theatre to continue and would support the addition of further volunteer opportunities. The College as part of its operational plan would use the existing infrastructure and talent that it has to be able to act quickly and effectively (theatre management, academic instructors, box office sales, business and marketing).
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Transfer of Capitol Theatre to St Clair College Our vision is to make programs offered at the downtown campus a destination of choice for students and theatre goers from across the region and beyond.” Option 2 … The Capitol operated by Chatham-Kent:
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Underlying principles of a municipal model: A municipal model was proposed to be based on the principle of public investment in the net costs of the venue (theatre) but no public investment in the direct costs of performances. Said in another way, the municipal tax base would cover the net costs of the building, equipment and staff and ticket prices would cover the direct costs of events. This philosophy would require careful management of event selection, marketing and ticket price calculations. The net profit from rental performances would reduce the requirement for municipal investment and at risk performances would be budgeted to break even after direct expenses. Any cumulative net profit from at risk performances would be transferred to a reserve to provide a contingency for such events in the long term. To allow for growing pains, the first year’s budget would establish a one-time reserve of $45,000 for this purpose. This amount would be available for redistribution or reduction in future years pending a review of actual results. Staff resources of a municipal model: A theatre of the size, scope and complexity of the Capitol requires appropriate resources to reach its potential. Staffing resources proposed to accomplish this are as follows: a) Supported by municipal budget: Full time (5 FTE): manager, technical director, marketing, front of house, custodian/maintenance. Part time (0.5 FTE): box office requirements supplemental to existing levels, house manager. b) Wholly supported by fundraising/sponsorship/partnership revenues: Full time (1 FTE): sponsorship/development. c) Wholly supported by performance/rental revenues: Full time: none. Part time: event staff as required. d) Volunteers: Extensive use of committed, community minded volunteers for ushers, ticket takers, bar tenders, greeters, etc.
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Operating requirements of a fully functioning municipal model are estimated to be:
Revenues:
Rental events revenue Non-performance revenue At-risk performance revenue $169,000 92,000 812,000 $1,073,000 $421,000 241,000 53,000 812,000 46,000 $1,573,000 $500,000
Expenses:
Wages & benefits Building occupancy costs Rental events costs At-risk performance costs Reserve for at-risk performances
Net funding requirement Less: Initial transfer from Kiwanis Theatre budget Net additional funding required
87,000 $413,000
We also modeled the requirements for different levels of service at the Capitol. A rental performance only strategy would require $200,000 annually and a season limited to only ten at risk performances would require $263,000. Option 3 … the Capitol operated by other theatre operators: Approaches were made to three established theatre companies in Ontario. One declined due to not wanting to expand their operations. Another declined due to it currently adding an additional theatre to its operations in another community. The third stated it would require a fully subsidized approach so that possibility was not pursued as it was basically equivalent to the municipal model. Option 4 … the Capitol operated by a partnership between any combination of CK/SCC/other operators: If the SCC model was not implemented, serious consideration would have been given to work with SCC so that students enrolled in applicable performing arts programs would have had access to training opportunities at the Capitol. Option 5 … the Capitol operated by an independent Board: Although this could possibly have been developed into a viable option, based on recent events and the results of exploring option three above, we felt it was too early to consider revisiting this option at this time.
Transfer of Capitol Theatre to St Clair College Option 6 … close the Capitol: Although this was an option, it was not seen as a viable one due to the following: - the conditions of senior government funding included the provision that the Capitol would operate as a theatre. Closure could have triggered the requirement of repaying some or all of that funding. - as outlined in this report, other viable options existed. - adverse impact to the quality of life in Chatham-Kent. C) ISSUES INDEPENDENT OF THE SELECTED OPERATING MODEL: Other municipalities’ investment in theatres: Appendix A lists this information.
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Proposed approach to lifecycle requirements: CK approach: Tickets sold in the Capitol’s inaugural season included a $3 per ticket surcharge. $1 went to CK to cover box office costs and $2 was to establish a capital reinvestment fund (CRF). Unfortunately, the CRF revenue was not set aside by the CCTA due to other operating pressures. The municipal model proposed to continue the $3 ticket surcharge. $1 would go to box office costs, $1 to an equipment replacement reserve and $1 to a building lifecycle reserve. Projected ticket sales were 33,200 for an initial season and were expected to grow over time. The ticket surcharges would have been monitored on an annual basis taking into account defined needs and actual ticket sales. SCC approach: SCC is proposing a very similar approach. Unfunded project costs: As previously reported, the total amount invested in the Capitol was approximately $20M. CK’s share was $5,425,000 of which $1,000,000 was paid over the years 2000 to 2003. The remaining unfunded portion is broken down as follows: CK loan to CCTA that was to be repaid from ticket surcharges beginning in 2012 CCTA fundraising: From private donor From Dark Nights proceeds over time From existing pledges Project over run as detailed on separate report Total
$2,750,000 225,000 500,000 500,000 450,000 $4,425,000
Transfer of Capitol Theatre to St Clair College This unfunded amount has to be addressed by CK under any of the operating options. With the knowledge of the first year’s operation of the Capitol, we felt that the ticket surcharge approach originally envisioned to address debt would only result in reduced sales which would then trigger the need for a larger subsidy. As a result, the 2012 draft budget recommended the following:
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a) $500,000 per year be funded by the Community Investment Fund Reserve (CIF) for at least the years 2012, 2013 and 2014. The CIF currently has a balance of $2,400,000. b) The recent sale of the Downtown Chatham Centre has an incentive built into it to encourage the purchase of the land it is located on (owned by CK) within the next two years for $3,400,000. Should that sale materialize, the net proceeds of the sale would be available to fund the remaining balance of the Capitol investment. Should it not materialize, the then unfunded amount of $2,925,000 would become a budget issue in 2015. Council approved this recommendation during the 2012 budget process. Future operation of the Kiwanis Theatre: The Kiwanis Theatre is a 680 seat theatre that has been municipally operated since 1981. Its capacity and design allows the hosting of a variety of events including music, theatre, dance, film and business meetings. Independent of the future operating model of the Capitol, the Kiwanis Theatre will be idled under the following criteria: - all events that could be accommodated by the Capitol will be directed to the Capitol. The result will be minimal use of the Kiwanis Theatre until a new vision is created for the Kiwanis and capacity issues at the Capitol required use of the Kiwanis. - any Kiwanis Theatre equipment that can cover existing equipment deficiencies at the Capitol will be transferred to the Capitol. - any Kiwanis Theatre funding or resources that are made available due to the idling of the theatre will become available to the 2013 budget process. Initially this will amount to approximately $87,000. Further efficiencies will be explored annually. The overall Cultural Plan Implementation Project currently underway will include recommendations on the long term operation of the Kiwanis Theatre. Status of overall cultural plan implementation: The Cultural Plan Implementation Project concept was introduced to Council in March 2011. There is a steering committee and a working committee in place to work through this process. The mandate that the steering committee has established is as follows:
Transfer of Capitol Theatre to St Clair College a) To develop an implementation/action plan based on the priorities of our various Master Plans & Strategies now in existence as they relate to achieving Council’s strategic direction for Destination CK. b) To define appropriate measurables needed to evaluate the success of this implementation project. c) To anticipate and respond to significant emerging opportunities. Accomplishments to date include: a) The committee has identified those master plans which are in scope and out of scope of the above mandate. b) The recommendations in the “in scope” master plans have been reviewed and those that are applicable to the above mandate have been identified. c) A proposal for a redesigned Create CK has been drafted. Next steps include prioritizing the recommendations identified in b) above and then developing implementation recommendations for them. The plan is to come to Council with a preliminary report on the above and with a final report sometime in 2012. Based on changing priorities, we are currently reviewing the municipal staff assigned to this project. D) SUMMARY:
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As stated earlier, all reports on this issue have been based on the belief that the Capitol is a strategic piece of the quality of life puzzle that is required for the continued economic and cultural development of our community. Based on this principle, the goal has been to maximize the Capitol’s potential by way of a sustainable operating model. As outlined in this report, we felt there were only two viable options for the operation of the Capitol: a SCC model or a CK model. We believe that both models would deliver a fully functioning Capitol that would achieve the goal of maximizing its potential. However, with a $500,000 price tag, implementation of the municipal model would come at the expense of other municipal services and long term sustainability cannot be guaranteed. As a result, administration recommended that Council enter into an agreement with SCC to own and operate the Capitol. COMMUNITY STRATEGIC PLAN The recommendations in this report have the potential to support all of the objectives and strategic directions of the Community Strategic Plan. CONSULTATION Since late 2010, the following staff have been involved in all reports and presentations regarding Capitol Theatre issues:
Transfer of Capitol Theatre to St Clair College Alysson Storey, Manager of Culture and Special Events Lesley Grand, Theatre Programmer Jim McNamara, Budget Analyst
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Due to the legalities of the receivership process and the various negotiations undertaken, all previous reports and presentations to Council on this matter were discussed in closed session. The working group did not achieve consensus on all reports. Others consulted included the CAO (our former General Manager of Community Development Services), the Director of Legal Services and theDirector of Community Services. FINANCIAL IMPLICATIONS As outlined in this report, there are a number of financial implications: 1) One-time costs: a) $4,425,000 in unfunded costs of reconstructing the Capitol: - The 2012 budget process approved that $500,000 per year come from the Community Investment Fund Reserve (CIF) for at least the years 2012, 2013 and 2014. The CIF currently has a balance of $2,400,000. - The recent sale of the Downtown Chatham Centre has an incentive built into it to encourage the purchase of the land it occupies (owned by CK) within the next two years for $3,400,000. Should that sale materialize, the net proceeds of the sale would be available to fund the remaining balance of the Capitol investment. Should it not materialize, the then unfunded amount of $2,925,000 would become a budget issue in 2015. b) The agreement calls for a municipal contribution of up to $200,000 for equipment deficiencies at the Capitol. This amount will be offset by any equipment that can be transferred from an idled Kiwanis Theatre. The net amount required will be determined by March 15, 2012. The follow up report required regarding reserve use by the 2012 budget process will make recommendations on the funding source for this amount. c) The agreement calls for CK to be responsible for any theatre building deficiencies that may exist at the date of ownership transfer. SCC is in the final stages of their due diligence on this matter (due by March 31) but we don’t anticipate any material issues. Those deficiencies, if any, would be CK’s responsibility in the event we proceeded with the other viable option, a municipal model. The follow up report required regarding reserve use by the 2012 budget process will make recommendations on the funding source for this amount, if any. d) In the unlikely event that SCC wishes to divest itself of the Capitol and a third party purchaser4 is available, the option of exercising the right of first refusal clause at
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such purchaser would assume all conditions of SCC’s agreement
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that time, as described in this report, would be available to CK. It is not possible to quantify such an amount at this time. 2) Annual operating costs: a) The CK model would have required $500,000 annually. $87,000 of that amount was available from the existing Kiwanis Theatre budget. b) The SCC model requires no annual operating subsidy but does include the transfer of unencumbered ownership of the Capitol to SCC at no cost.
Prepared by:
_________________________ Gerry Wolting, B.Math, CA General Manager, Corporate Services
Attachments:
Appendix A - Other municipalities’ investment in theatres
P:\RTC\Corp Services - Admin\2012\Transfer of Capitol Theatre to St Clair College.docx
Transfer of Capitol Theatre to St Clair College Appendix A – Other municipalities’ investment in theatres:
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MUNICIPAL SUPPORT COMPARISON FOR FISCAL YEAR ENDING 2010 Noncash Subsidy Yes Yes No No No Yes No No Yes Yes Yes Yes No Yes Yes No No
SEAT # ONTARIO Brockville Arts Centre Burlington Performing Arts Centre Capitol Centre - North Bay Capitol Theatre - Port Hope Centre in the Square - Kitchener Grand Theatre - Kingston Joshua Bates Centre Performing Arts Committee - Athens Lindsay Concert Foundation Living Arts Centre - Mississauga Markham Theatre Oakville Centre for the Performing Arts Orillia Opera House Ottawa Little Theatre River Run Centre - Guelph Shenkman Arts Centre - Ottawa Showplace Peterborough Performance Centre The Gibson Centre - Alliston
REVENUES
SUBSIDY
EXPENSES
Capital
710 718 1000 380 2047 751 180 600 1315 530 485 1396 452 785 500 647 160
$593,492 $291,886 $1,600,000 $1,200,000 $7,607,847 $2,543,448 $34,832 $127,471 $5,943,750 $2,200,000 $2,026,924 $635,194 $1,278,358 $2,104,811 $3,760,835 $650,000 $446,222
$145,778 $291,886 $282,122 $48,500 $1,336,877 $683,645 $0 $0 $0 $650,000 $713,020 $355,134 $4,000 $520,945 $3,760,835 $100,000 $11,000
$593,492 $276,733 $1,600,000 $1,200,000 $7,606,245 $2,543,448 $30,500 $131,577 $7,030,141 $2,200,000 $2,027,012 $740,480 $1,200,800 $2,104,811 $4,079,074 $700,000 $485,324
Yes No No No Yes Yes No No Yes Yes Yes Yes No No Yes No No
DATE: SUBJECT:
This report is for the information of Council. EXECUTIVE SUMMARY At its closed session meeting of October 17, 2011, after hearing a proposal from St Clair College (SCC) on the operation and ownership of the Capitol Theatre (Capitol), Chatham-Kent (CK) Council instructed administration to meet with SCC to negotiate the best possible terms to enable Council to consider this opportunity. The result of those negotiations was that, in closed session on December 5, 2011, Council approved the following: That Council: A) Enter into an agreement with St Clair College for the operation of the Capitol Theatre under the following conditions: 1) Operation of the Capitol: a) SCC to assume operations on March 1, 2012 with no requirement for municipal subsidy (operating or capital) b) Currently scheduled events: - rental events to be assumed by SCC under existing terms as negotiated by CK - at risk events (3): o SCC to assume these events under existing terms as negotiated by CK o CK to assume any net loss based on theatre rental rates in effect at time of booking c) An advisory committee be put in place: - made up of CK theatre patrons and SCC core members - no members of Council or administration - no decision making authority
Transfer of Capitol Theatre to St Clair College
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2) Ownership of the building: a) CK commits to ownership transfer on March 1, 2012 (subject to senior government approval) on a debt free basis b) SCC assumes all existing conditions of senior government agreements (currently in place until March 2027) c) CK and SCC to negotiate earliest possible transfer date with senior levels of government d) Transfer on March 1, 2012 is on an as is/where is basis - SCC has until January 31, 2012 to identify any building deficiencies that require CK resources to correct (note: during negotiations, this date was changed to March 31, 2012). 3) Exit options: a) After ownership transfer: - if no purchaser available to SCC: o twelve months notice required (unless otherwise agreed upon) o no compensation required for building, operating results or capital improvements o CK to have first option to buy, at fair market value, any capital equipment purchased by SCC - if purchaser available: o twelve months notice required (unless otherwise agreed upon) o right of first refusal available to CK at price offered by third party available to CK until March 2027 under any ownership scenario o no compensation required for operating results or capital improvements b) Capitol to operate as a theatre until March 2027 independent of who owns the building 4) Request re equipment deficiencies: a) CK agrees to provide up to $200,000 for equipment deficiencies as identified by SCC (note: during negotiations, SCC was given until March 15, 2012 to submit these details). b) Surplus equipment from the idling of Kiwanis Theatre may be substituted if agreed to by SCC 5) CK access to programming: a) CK able to rent Capitol similar to any other user or, preferably, sponsor shows put on by SCC subject to SCC approval of proposed event and timing b) CK able to use Capitol rent free for up to 6 non performance events per year for 10 years B) Approve the idling of the Kiwanis Theatre as outlined in this report. C) Refer the financial implications as outlined in this report to the appropriate budget process(es).
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On December 12, 2011, again in closed session, Council approved the following additional recommendations: D) In order to “lock down” the negotiated terms, Council approve CK and SCC entering into a Memorandum of Understanding (MOU) by December 22, 2011 with terms as approved in recommendations A, B and C above (note: the MOU was signed on February 10, 2012) . E) Council authorize administration to enter into the appropriate legal agreement(s) for the operation of the Capitol Theatre and the title transfer of same as approved by Council in recommendations A, B and C above with such agreement(s) to be ready for approval by February 1, 2012 (see note 4 below). F) Due to the delay in transferring operations, Council authorize administration to operate the Capitol until March 1, 2012. As noted in the applicable recommendations and summarized below, the negotiation process resulted in minor changes to the above recommendations. Administration felt the changes were not material enough to warrant further approval being required from Council: 1) The due diligence period given to SCC for building conditions in recommendation A 2 d) was changed from January 31, 2012 to March 31, 2012. 2) The due diligence period given to SCC for equipment deficiencies in recommendation A 4) was extended to March 15, 2012. 3) Recommendation D called for the MOU to be signed by December 22, 2011. The actual date of signing was February 10, 2012. 4) Recommendation E called for the legal agreements to be ready for administrative approval by February 1, 2012. It is anticipated that the majority of the agreement will be finalized in the next several weeks. Provincial approval and property matters will take more time. A signed MOU is in place and the necessary interim agreement that reflects Council’s existing decisions will be in place to cover the interim period.
END OF EXECUTIVE SUMMARY
Transfer of Capitol Theatre to St Clair College CAPITOL THEATRE INFORMATION REPORT Over the past year, all issues related to the Capitol Theatre have been managed by an interim management group made up of: Alysson Storey, Manager of Culture and Special Events Lesley Grand, Theatre Programmer Jim McNamara, Budget Analyst Gerry Wolting, General Manager of Corporate Services
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This team drafted all reports and presentations required for Capitol Theatre issues since late 2010. This information report is provided to summarize the final decisions made regarding this significant issue. Due to the legalities of the receivership process and the various negotiations undertaken, all previous reports and presentations to Council on this matter were discussed in closed session. BACKGROUND The Capitol Theatre is a 1,214 seat entertainment venue in the heart of downtown Chatham. The Capitol first opened as a movie house in 1930 and has recently undergone a major reconstruction to become a first-rate destination for live entertainment. In March 2008, Chatham-Kent, acting in partnership with the Chatham Capitol Theatre Association (CCTA - an independent non-profit organization) to obtain senior government funding for the completion of the Capitol, assumed ownership of the building. In September 2010, after a long and sometimes arduous journey, the CCTA opened the Capitol to the public with the following vision: CCTA Vision: Engaging, Inspiring, Transforming. CCTA Mission: Creating experiences for enjoyment, learning and growth. CCTA Objectives: i) To be a leader in the local, regional and national arts community. ii) To present arts and entertainment in a wide variety of genres. iii) To develop staff and volunteers in order to offer a high level of customer service. iv) To strive toward financial stability. v) To be a major partner in developing Chatham-Kent as an attractive tourist destination. vi) To play an important role in economic development.
Transfer of Capitol Theatre to St Clair College In its inaugural season, the Capitol experienced the following attendance: Tickets: -
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49,415 sold average of 60% of house sold $1.7M in revenue average price of $35
Customers: - 8,410 individual households purchased tickets - average of 6 tickets or $210 per household - location of households: o 368 in Wallaceburg o 4,328 in Chatham o 1,987 in other areas of CK o 1,664 Canadian households outside of CK o 63 households in the US Unfortunately, the business model of the CCTA failed resulting in CK, acting as a secured creditor, petitioning the CCTA into receivership on March 1, 2011 and funding the remainder of its inaugural season.
Transfer of Capitol Theatre to St Clair College At a high level, the interim operating plan approved by Council can be summarized as follows: Preliminary Budget Actual To Dec 31 To Dec 31 Revenues: At risk performances1 (note 1) $225,000 $234,000 Rental events2 10,000 102,000 3 Non performance revenue 49,000 33,000 Total revenues $284,000 $369,000 Expenses: Wages & benefits Building occupancy costs Provision for contingencies & all other expenses At risk performances Total expenses Net requirement from reserves
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$110,000 119,000 55,000 425,000 $709,000 $425,000
$117,000 145,000 25,000 444,000 $731,000 $362,000
Notes: 1) “at risk performances” revenue recognizes the requirement of $180,000 for tickets sold prior to receivership whose value was not available to CK. Council authorized $400,000 in February 2011 to cover operations up to June 30, 2011 and an additional $25,000 in November to provide funding to December 31, 2011. It has taken longer than expected to get to a final report stage. However, costs were phased down more quickly than originally anticipated so, as stated above, as of December 31, 2011, $362,000 of the $425,000 has been used. On December 12, 2011, Council authorized administration to operate the Capitol until March 1, 2012. The unused 2011 funds will be applied to the requirements for the period January 1 to March 1, 2012.
At risk performances: With this option, the theatre pays the performer or production company a contracted performance fee. The theatre is responsible for all aspects of putting on the performance and net ticket sale proceeds belong to the theatre. However, most performance contracts include a clause that a significant portion of ticket sales over a set gross profit amount accrue to the performer.
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Rental performances: With this option, the theatre rents its facility to the production company. The production company is responsible for all direct costs of the performance (including marketing) and receives the net proceeds of all ticket sales. The theatre is paid a rental fee for the facility and recovers incremental costs associated with production set up, box office and normal ticket surcharges. Non performance revenue: Non-performance revenue is an integral component of theatre economics achieved from sources such as donations, memberships, grants, subsidies and sponsorships.
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Transfer of Capitol Theatre to St Clair College COMMENTS
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A final report from the Receiver on the CCTA is expected to be submitted to the Courts in the near future. The only remaining matter to be dealt with by the Receiver is the disposition of the Annex (the building owned by the CCTA that is directly west of the Capitol). In outlining the “go forward” options for the operation of the Capitol, Council was given information broken down into the following segments: a) The vision required for the Capitol b) Operating models considered: - St Clair College - municipal - other existing theatre operators - partnerships between any of the above - independent board - closing the Capitol c) Issues independent of the selected operating model: - other municipalities’ investments in theatres - proposed approach to lifecycle requirements - unfunded project costs - future operation of the Kiwanis Theatre - status of the Cultural Plan Implementation Project d) Summary A) THE VISION REQUIRED FOR THE CAPITOL: All reports on this issue have been based on the belief that the Capitol is a strategic piece of the quality of life puzzle that is required for the continued economic and cultural development of our community. Based on this principle, the goal was to maximize the Capitol’s potential by way of a sustainable operating model. With this goal in mind, the vision for the Capitol should be very similar to the CCTA’s original vision as outlined at the beginning of this report. The one difference should be that the objective “to strive toward financial stability” should be reworked to state “to achieve financial stability”. The selected operating model should focus on the many different aspects of community development and work with and seek input from, a wide variety of user groups across CK. This includes programming and collaboration with: educational institutions at all levels local businesses, non-profit and charitable organizations other levels of government
Transfer of Capitol Theatre to St Clair College local, regional and national tourism providers other municipal departments/divisions broader cultural and performing arts sector across North America One of the primary responsibilities should be to continue to sustain, grow and develop new audiences, and generate excitement in a variety of accessible and dynamic programming.
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In-house expertise in our culture, tourism and recreation divisions should be leveraged to raise awareness across the region (southern Ontario, southeastern Michigan and northeastern Ohio) about the many entertainment and business development options with the Capitol and surrounding areas. Partnership and sponsorship opportunities should be explored through our BIAs and local businesses. These partnerships would assist in increasing the profile of the sponsor business and generating crucial revenue for the Capitol. B) OPERATING MODELS CONSIDERED: With the proper investment and governance in place, the above vision could be achieved by a number of operating models. Models considered were as follows (in no specific order): Option 1 … the Capitol operated by St Clair College: SCC has the experience of successfully operating the Chrysler Theatre in Windsor. They require no municipal subsidy for that operation. SCC has expressed an interest to expand its portfolio in CK and operate the Capitol. SCC has indicated its motivation to operate the Capitol is three-fold: - to become more involved in the community - to enhance marketing efforts to students - to become involved in downtown Chatham SCC provided the following overview for its vision of the Capitol: “St. Clair College envisions a campus that will bring students into the downtown core. Consistent, and in support of the Municipality’s vision, it would seek to be a contributing factor to a vibrant downtown, one in which there would be many people of all ages on the streets, participating in activities that would include dining, shopping, entertainment, education as well as visiting the many historic and unique tourist opportunities that are available in the Municipality of Chatham Kent.
Transfer of Capitol Theatre to St Clair College To make this happen, the College would see several important next steps. It would within thirty days of takeover, establish the ChathamKent Advisory Board for the Theatre. This group, chosen by the College, would be a collection of people with interest and expertise in the offerings that might be held at the Theatre and will assist in potential donor and community partnerships. Academic development of a School of Dance within the Theatre would be the first initiative. Event management would follow. Theatre arts performance students, entertainment technology students, hospitality and tourism students, business students, law and security and police foundations students would all become part of the operations of the theatre. Our hope with respect to Theatre programming would be to quickly establish partnerships with tourism, black history, the BIA, Culture and Recreation, industry partners, the Chambers of Commerce, and private sector partners, to create a value added theatre experience. Examples of these partnerships might include theatre performances to coincide with Retrofest, celebrations around the war of 1812, Buxton homecoming, Threshing Festival, etc. The opportunity to have dinner and theatre packages would be pursued. The additional opportunity of showcasing some of the rich agricultural products of the region could also be paired with theatre events to promote and support the targeted strategic direction of growing high value agriculture and agricultural tourism. Imagine the possibilities of strawberry and local wine and a summer play. Opportunities for partnership with Libraries, Ontario works and other educational partners include skills training and learning and growth areas. The College would envision the theatre as a venue to host the Literary Arts Festival, and possibly Thames Institute for the Arts and Campus for Kids as well as a series of key note speakers to address current regional and global interests. The opportunity to host a Southwest guitar summit would be considered part of the summer learning offerings. The College would encourage and support the volunteers that currently exist at the theatre to continue and would support the addition of further volunteer opportunities. The College as part of its operational plan would use the existing infrastructure and talent that it has to be able to act quickly and effectively (theatre management, academic instructors, box office sales, business and marketing).
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Transfer of Capitol Theatre to St Clair College Our vision is to make programs offered at the downtown campus a destination of choice for students and theatre goers from across the region and beyond.” Option 2 … The Capitol operated by Chatham-Kent:
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Underlying principles of a municipal model: A municipal model was proposed to be based on the principle of public investment in the net costs of the venue (theatre) but no public investment in the direct costs of performances. Said in another way, the municipal tax base would cover the net costs of the building, equipment and staff and ticket prices would cover the direct costs of events. This philosophy would require careful management of event selection, marketing and ticket price calculations. The net profit from rental performances would reduce the requirement for municipal investment and at risk performances would be budgeted to break even after direct expenses. Any cumulative net profit from at risk performances would be transferred to a reserve to provide a contingency for such events in the long term. To allow for growing pains, the first year’s budget would establish a one-time reserve of $45,000 for this purpose. This amount would be available for redistribution or reduction in future years pending a review of actual results. Staff resources of a municipal model: A theatre of the size, scope and complexity of the Capitol requires appropriate resources to reach its potential. Staffing resources proposed to accomplish this are as follows: a) Supported by municipal budget: Full time (5 FTE): manager, technical director, marketing, front of house, custodian/maintenance. Part time (0.5 FTE): box office requirements supplemental to existing levels, house manager. b) Wholly supported by fundraising/sponsorship/partnership revenues: Full time (1 FTE): sponsorship/development. c) Wholly supported by performance/rental revenues: Full time: none. Part time: event staff as required. d) Volunteers: Extensive use of committed, community minded volunteers for ushers, ticket takers, bar tenders, greeters, etc.
Transfer of Capitol Theatre to St Clair College
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Operating requirements of a fully functioning municipal model are estimated to be:
Revenues:
Rental events revenue Non-performance revenue At-risk performance revenue $169,000 92,000 812,000 $1,073,000 $421,000 241,000 53,000 812,000 46,000 $1,573,000 $500,000
Expenses:
Wages & benefits Building occupancy costs Rental events costs At-risk performance costs Reserve for at-risk performances
Net funding requirement Less: Initial transfer from Kiwanis Theatre budget Net additional funding required
87,000 $413,000
We also modeled the requirements for different levels of service at the Capitol. A rental performance only strategy would require $200,000 annually and a season limited to only ten at risk performances would require $263,000. Option 3 … the Capitol operated by other theatre operators: Approaches were made to three established theatre companies in Ontario. One declined due to not wanting to expand their operations. Another declined due to it currently adding an additional theatre to its operations in another community. The third stated it would require a fully subsidized approach so that possibility was not pursued as it was basically equivalent to the municipal model. Option 4 … the Capitol operated by a partnership between any combination of CK/SCC/other operators: If the SCC model was not implemented, serious consideration would have been given to work with SCC so that students enrolled in applicable performing arts programs would have had access to training opportunities at the Capitol. Option 5 … the Capitol operated by an independent Board: Although this could possibly have been developed into a viable option, based on recent events and the results of exploring option three above, we felt it was too early to consider revisiting this option at this time.
Transfer of Capitol Theatre to St Clair College Option 6 … close the Capitol: Although this was an option, it was not seen as a viable one due to the following: - the conditions of senior government funding included the provision that the Capitol would operate as a theatre. Closure could have triggered the requirement of repaying some or all of that funding. - as outlined in this report, other viable options existed. - adverse impact to the quality of life in Chatham-Kent. C) ISSUES INDEPENDENT OF THE SELECTED OPERATING MODEL: Other municipalities’ investment in theatres: Appendix A lists this information.
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Proposed approach to lifecycle requirements: CK approach: Tickets sold in the Capitol’s inaugural season included a $3 per ticket surcharge. $1 went to CK to cover box office costs and $2 was to establish a capital reinvestment fund (CRF). Unfortunately, the CRF revenue was not set aside by the CCTA due to other operating pressures. The municipal model proposed to continue the $3 ticket surcharge. $1 would go to box office costs, $1 to an equipment replacement reserve and $1 to a building lifecycle reserve. Projected ticket sales were 33,200 for an initial season and were expected to grow over time. The ticket surcharges would have been monitored on an annual basis taking into account defined needs and actual ticket sales. SCC approach: SCC is proposing a very similar approach. Unfunded project costs: As previously reported, the total amount invested in the Capitol was approximately $20M. CK’s share was $5,425,000 of which $1,000,000 was paid over the years 2000 to 2003. The remaining unfunded portion is broken down as follows: CK loan to CCTA that was to be repaid from ticket surcharges beginning in 2012 CCTA fundraising: From private donor From Dark Nights proceeds over time From existing pledges Project over run as detailed on separate report Total
$2,750,000 225,000 500,000 500,000 450,000 $4,425,000
Transfer of Capitol Theatre to St Clair College This unfunded amount has to be addressed by CK under any of the operating options. With the knowledge of the first year’s operation of the Capitol, we felt that the ticket surcharge approach originally envisioned to address debt would only result in reduced sales which would then trigger the need for a larger subsidy. As a result, the 2012 draft budget recommended the following:
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a) $500,000 per year be funded by the Community Investment Fund Reserve (CIF) for at least the years 2012, 2013 and 2014. The CIF currently has a balance of $2,400,000. b) The recent sale of the Downtown Chatham Centre has an incentive built into it to encourage the purchase of the land it is located on (owned by CK) within the next two years for $3,400,000. Should that sale materialize, the net proceeds of the sale would be available to fund the remaining balance of the Capitol investment. Should it not materialize, the then unfunded amount of $2,925,000 would become a budget issue in 2015. Council approved this recommendation during the 2012 budget process. Future operation of the Kiwanis Theatre: The Kiwanis Theatre is a 680 seat theatre that has been municipally operated since 1981. Its capacity and design allows the hosting of a variety of events including music, theatre, dance, film and business meetings. Independent of the future operating model of the Capitol, the Kiwanis Theatre will be idled under the following criteria: - all events that could be accommodated by the Capitol will be directed to the Capitol. The result will be minimal use of the Kiwanis Theatre until a new vision is created for the Kiwanis and capacity issues at the Capitol required use of the Kiwanis. - any Kiwanis Theatre equipment that can cover existing equipment deficiencies at the Capitol will be transferred to the Capitol. - any Kiwanis Theatre funding or resources that are made available due to the idling of the theatre will become available to the 2013 budget process. Initially this will amount to approximately $87,000. Further efficiencies will be explored annually. The overall Cultural Plan Implementation Project currently underway will include recommendations on the long term operation of the Kiwanis Theatre. Status of overall cultural plan implementation: The Cultural Plan Implementation Project concept was introduced to Council in March 2011. There is a steering committee and a working committee in place to work through this process. The mandate that the steering committee has established is as follows:
Transfer of Capitol Theatre to St Clair College a) To develop an implementation/action plan based on the priorities of our various Master Plans & Strategies now in existence as they relate to achieving Council’s strategic direction for Destination CK. b) To define appropriate measurables needed to evaluate the success of this implementation project. c) To anticipate and respond to significant emerging opportunities. Accomplishments to date include: a) The committee has identified those master plans which are in scope and out of scope of the above mandate. b) The recommendations in the “in scope” master plans have been reviewed and those that are applicable to the above mandate have been identified. c) A proposal for a redesigned Create CK has been drafted. Next steps include prioritizing the recommendations identified in b) above and then developing implementation recommendations for them. The plan is to come to Council with a preliminary report on the above and with a final report sometime in 2012. Based on changing priorities, we are currently reviewing the municipal staff assigned to this project. D) SUMMARY:
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As stated earlier, all reports on this issue have been based on the belief that the Capitol is a strategic piece of the quality of life puzzle that is required for the continued economic and cultural development of our community. Based on this principle, the goal has been to maximize the Capitol’s potential by way of a sustainable operating model. As outlined in this report, we felt there were only two viable options for the operation of the Capitol: a SCC model or a CK model. We believe that both models would deliver a fully functioning Capitol that would achieve the goal of maximizing its potential. However, with a $500,000 price tag, implementation of the municipal model would come at the expense of other municipal services and long term sustainability cannot be guaranteed. As a result, administration recommended that Council enter into an agreement with SCC to own and operate the Capitol. COMMUNITY STRATEGIC PLAN The recommendations in this report have the potential to support all of the objectives and strategic directions of the Community Strategic Plan. CONSULTATION Since late 2010, the following staff have been involved in all reports and presentations regarding Capitol Theatre issues:
Transfer of Capitol Theatre to St Clair College Alysson Storey, Manager of Culture and Special Events Lesley Grand, Theatre Programmer Jim McNamara, Budget Analyst
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Due to the legalities of the receivership process and the various negotiations undertaken, all previous reports and presentations to Council on this matter were discussed in closed session. The working group did not achieve consensus on all reports. Others consulted included the CAO (our former General Manager of Community Development Services), the Director of Legal Services and theDirector of Community Services. FINANCIAL IMPLICATIONS As outlined in this report, there are a number of financial implications: 1) One-time costs: a) $4,425,000 in unfunded costs of reconstructing the Capitol: - The 2012 budget process approved that $500,000 per year come from the Community Investment Fund Reserve (CIF) for at least the years 2012, 2013 and 2014. The CIF currently has a balance of $2,400,000. - The recent sale of the Downtown Chatham Centre has an incentive built into it to encourage the purchase of the land it occupies (owned by CK) within the next two years for $3,400,000. Should that sale materialize, the net proceeds of the sale would be available to fund the remaining balance of the Capitol investment. Should it not materialize, the then unfunded amount of $2,925,000 would become a budget issue in 2015. b) The agreement calls for a municipal contribution of up to $200,000 for equipment deficiencies at the Capitol. This amount will be offset by any equipment that can be transferred from an idled Kiwanis Theatre. The net amount required will be determined by March 15, 2012. The follow up report required regarding reserve use by the 2012 budget process will make recommendations on the funding source for this amount. c) The agreement calls for CK to be responsible for any theatre building deficiencies that may exist at the date of ownership transfer. SCC is in the final stages of their due diligence on this matter (due by March 31) but we don’t anticipate any material issues. Those deficiencies, if any, would be CK’s responsibility in the event we proceeded with the other viable option, a municipal model. The follow up report required regarding reserve use by the 2012 budget process will make recommendations on the funding source for this amount, if any. d) In the unlikely event that SCC wishes to divest itself of the Capitol and a third party purchaser4 is available, the option of exercising the right of first refusal clause at
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such purchaser would assume all conditions of SCC’s agreement
Transfer of Capitol Theatre to St Clair College
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that time, as described in this report, would be available to CK. It is not possible to quantify such an amount at this time. 2) Annual operating costs: a) The CK model would have required $500,000 annually. $87,000 of that amount was available from the existing Kiwanis Theatre budget. b) The SCC model requires no annual operating subsidy but does include the transfer of unencumbered ownership of the Capitol to SCC at no cost.
Prepared by:
_________________________ Gerry Wolting, B.Math, CA General Manager, Corporate Services
Attachments:
Appendix A - Other municipalities’ investment in theatres
P:\RTC\Corp Services - Admin\2012\Transfer of Capitol Theatre to St Clair College.docx
Transfer of Capitol Theatre to St Clair College Appendix A – Other municipalities’ investment in theatres:
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MUNICIPAL SUPPORT COMPARISON FOR FISCAL YEAR ENDING 2010 Noncash Subsidy Yes Yes No No No Yes No No Yes Yes Yes Yes No Yes Yes No No
SEAT # ONTARIO Brockville Arts Centre Burlington Performing Arts Centre Capitol Centre - North Bay Capitol Theatre - Port Hope Centre in the Square - Kitchener Grand Theatre - Kingston Joshua Bates Centre Performing Arts Committee - Athens Lindsay Concert Foundation Living Arts Centre - Mississauga Markham Theatre Oakville Centre for the Performing Arts Orillia Opera House Ottawa Little Theatre River Run Centre - Guelph Shenkman Arts Centre - Ottawa Showplace Peterborough Performance Centre The Gibson Centre - Alliston
REVENUES
SUBSIDY
EXPENSES
Capital
710 718 1000 380 2047 751 180 600 1315 530 485 1396 452 785 500 647 160
$593,492 $291,886 $1,600,000 $1,200,000 $7,607,847 $2,543,448 $34,832 $127,471 $5,943,750 $2,200,000 $2,026,924 $635,194 $1,278,358 $2,104,811 $3,760,835 $650,000 $446,222
$145,778 $291,886 $282,122 $48,500 $1,336,877 $683,645 $0 $0 $0 $650,000 $713,020 $355,134 $4,000 $520,945 $3,760,835 $100,000 $11,000
$593,492 $276,733 $1,600,000 $1,200,000 $7,606,245 $2,543,448 $30,500 $131,577 $7,030,141 $2,200,000 $2,027,012 $740,480 $1,200,800 $2,104,811 $4,079,074 $700,000 $485,324
Yes No No No Yes Yes No No Yes Yes Yes Yes No No Yes No No
