10-10-2023 PAEC Venue Management Contract PresentationVtllVldlli�
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PAEC VENUE
MANAGAMENT
CONTRACT
'SNEWAL
Presented by
Autumn Gressett, Contract Administrator
October 10, 2023
CITY OF
.. Federal lay
Centered on Opportunity
The Federal Way
and Event Cent(
cultural hub nee
Federal Way. Th
facility stands a�
creativity and cc
engagement, offering a diverse
range of entertainment and event
opportunities.
,A CITY OF
Federal Way
Centered on Opportunity
The jewel of the PAEC, the theater is equipped
with cutting -edge technology, making it a
premier venue for live performances, including
concerts, plays, dance recitals, and more.
RECEPTION AND EVENT SPACES
The PAEC offers a range of adaptable spaces suitable for
conferences, weddings, corporate events, and galas. These
spaces can be customized to fit the vision of any event.
Facility
Highlights
ART GALLERIES
In partnership with the Federal Way Arts
Commission, the PAEC hosts an art gallery
within the lobby space, showcasing the
works of local and national artists,
CITY OF
._. Federal
Centered on Opportunity
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CITY OF
Federal Way
Centered on Opportunity
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CITY OF
.. Federal lay
Centered on Opportunity
Hospitality &
Food Services
Booking &
Retail Development Content Development
Owner's Rep & Private Events &
Project Management Services Curated Experiences
Procurement Global
Support Partnerships
Technology & Premium Sales
Integration Consulting
360
Venue Financing Integrated
Solutions Marketing Solutions
Customer Service Public Safety
Training
Parking & Public Health,
Mobility Services Sustainable Sanitization & Ventilation
Operations
BRIAN HOFFMAN
General Manager
STE PH E N MARQU EZ
Assistant General Manager
AMY LANE
Box Office Manager
KATE CROTEAU
Arts Education Coordinator
REBEKA SCHUNK
Director of Finance
VAN DINH
Catering & Sales Manager
J E FF HARTMAN N
Event Manager
Meet the Team
,ANCITY OF
. Federal Way
Centered on Opportunity
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History
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August 1 - Venue Management Contract began
2019
Positive revenue impacts, overall subsidy
reduction through more efficient processes,
many sold out shows!
2020-
Global Pandemic shuttered the PAEC.
Venue Management team assisted in
housing three City departments, creating
terse revenue streams and maintained
the facility during closure
2023
Completely re -opened, diverse clients
and sold out shows!
CITY OF
.. Federal lay
Centered on Opportunity
SINCE AUGUST 2018
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CITY OF
,.. Federal lay
Centered on Opportunity
ROBERT CRAY 2019
LEA SALONGA 2019
98.9 THE BULL FROSTY FEST 2019
ROBERT CRAY 2021
NATIVE COMEDY JAM 2022
MENOPAUSE THE MUSICAL 2022
Sold Out
Theater
Performances
TH R E EOLOGY 2022
SATINDER SARTAAJ 2022
RYAN ADAMS 2023
YASIR HUSSAIN 2023
ROBERT CRAY 2023
RAND IT BAWA 2023
plus many more!
,ANCITY OF
. Federal Way
Centered on Opportunity
Pandemic Positives
Bright spots in challenging times
City Department offices
during social distancing
Amazon Driver
Training Location
King County COVI D
Vaccination Site
COVI D-19 Governor Jay
I nslee Roundtable with
local leaders
Food Truck Fridays
King County Elections
Site
Limberlost Music
Video Location
CITY OF
.. Federal lay
Centered on Opportunity
YAKOV SMIRNOFF
The Brooks & the Bluff
Nicole Atkins
Mary Chapin Carpenter
A Virtual Christmas Vacation
No Joy
Jars of Clay
The Mother Hips
Colin Meloy
Born Ruffians
Assisted Living: Home for the Holidays
Charley Bliss
Red Room Orchestra
Andrew Bird
OSEES
Suzanne Vega
Papa M
Artimus Pyle Band
Colin & Brad: Stream of Consciousness
Virtual
Programming
Providing patrons
with online
performances
during the pandemic
,ANCITY OF
. Federal VVay
Centered on Opportunity
2022
$1,281,69
5
2018
$224,81 2018
2022 $626,762
$941,464
01 2019
$702,02
4
2021
2020 $404,676
$316,89 2020
2021 1 $373,453
$576,00
3
TOTAL REVENUE
(THEATER &
EVENT SPACE)
2019
$1,516,000
TOTAL SUPPORT
FROM GENERAL
FUND
Revenue Breakdown
CITY OF
.. Federal lay
Centered on Opportunity
•
•
62.1 O%
SUBSIDY REDUCTION 2019-
2022
,ANCITY OF
. Federal Way
Centered on Opportunity
Revenue
Allocation
Food & Bev
Revenue
Facility Fee $130
Revenue
Event Space Rental
Revenue
$253,438
Ticket Revenue
$422, 799
Theater Rental
Revenue
$84, 865 CITY OF
.. Federal lay
Centered on Opportunity
ACTUALS APPROVED PROJECTED REVENUE
as of July 31, 2023 BUDGET August 1 - December 31
TICKET REVENUE $422,799 $621,117 $123,500
THEATER RENTAL
REVENUE $84,865 $142,432 $150,750
EVENT SPACE
RENTAL REVENUE $253,438 $289,056 $50,250
FACILITY FEES $52,838 $56,017 $104,769
FOOD &BEVERAGE
REVENUE $130,846 $102,353 $207,367
2023 RevenueBreakdown
CITY OF
.. Federal lay
Centered on Opportunity
ri
New Metrics
Revised
and Reinvigorated
Implementing precise and
comprehensive performance
metrics to ensure continued
transparency and accountability
Revenue Generation
• Increase Food & Beverage Revenue by 2.5%
annually
• Increase Theater Rental Revenue by 2.5%
annually
• Increase Event Space Rental Revenue by 2.5%
annually
• Increase Ticket Sales Revenue by 2.5% annually
PERFORMANCE METRIC DETAILS
CITY OF
.. Federal lay
Centered on Opportunity
Attendance
• Increase overall venue attendance by 5% in
2024
• Increase overall venue attendance by 2.5%
annually from 2025 - 2033
Usage Days
• Increase Venue Usage Days by 2.5%annually
PERFORMANCE METRIC DETAILS
,ANCITY OF
. Federal Way
Centered on Opportunity
Host Free Community Events
• Engage local businesses to sponsor free events
• Host a minimum of 5 events annually in 2024,
2025 and 2026
• Increase annual events by annually beginning
in 2027
PERFORMANCE METRIC DETAILS
CITY OF
.. Federal lay
Centered on Opportunity
of Events
• Weddings -minimum 4 annually
• Banquets/Meetings/Conferences -minimum
50 annually
• Non -Profit -minimum 10 annually
• Arts4Youth - minimum 6 annually
PERFORMANCE METRIC DETAILS
CITY OF
.. Federal lay
Centered on Opportunity
Renewal Terms
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CAPITAL
INVESTMENT
OVG360 reaffirms its
dedication to the
success of the PAEC
through a substantial
additional
investment of
$200,000.
LENGTHENED
PARTNERSHIP
The proposed
contract renewal
encompasses a
substantial ten-year
term, extending the
partnership until the
year 2033
PERFORMANCE
METRICS
Implementing
precise and
comprehensive
performance metrics
to ensure continued
transparency and
accountability
,ANCITY OF
. Federal Way
Centered on Opportunity
4
Questions?
CITY OF
F//r ,AN. Federal Way
Centered on Opportunity