n June 8, 2010 the residents of Santa Clara voted to adopt Measure J, the Santa Clara Stadium Taxpayer Protection and Economic Progress Act, resulting in the approval to construct a new stadium to be leased by the San Francisco 49ers. Measure J called for the creation of the Santa Clara Stadium Authority (Stadium Authority) to own, develop, construct, operate, and maintain the Stadium. The Stadium Authority ex ists as a public body, separate and distinct from the City. The St adium Authority is structured so that the City is not liable for the debts or obligations of the Stadium Authority.
This budget and additional financial information on the Stadium Authority can be found at: “santaclaraca.gov/our-city/santa-clara- stadium-authority”.
O
PROPOSED
FISCAL YEAR
2022/23
OPERATING,
DEBT
SERVICE
AND CAPITAL
BUDGET
1500 Warburton Avenue
Santa Clara, CA 95050
Phone: (408) 615-2210
Website:
https://www.santaclaraca.gov/our
-city/santa-clara-stadium-
authority
Email: communications@
santaclaraca.gov
Santa Clara Stadium
Authority
2 Levi’s
® Stadium
3 Table of Contents
General Information ................................................................................................................. 4
Organizational Chart .......................................................................................................... ..... 6 NFL Event Highlights - Year in Review ................................................................................... 7 Non-NFL Event Highlights - Year in Review ............................................................................ 8 Stadium Authority Operating Budget ....................................................................................... 9 Stadium Authority Operating Budget Glossary .................................................................. 16 Stadium Manager Shared Expenses ..................................................................................... 22 Stadium Manager Shared Expenses Glossary .................................................................. 25 Stadium Debt Service Budget ............................................................................................... 27 Stadium Debt Service Budget Glossary ............................................................................. 30 Stadium Authority Capital Expense Budget ........................................................................... 31 Stadium Authority Work Plan ................................................................................................ 44
Santa Clara Stadium
Authority
4 Introduction
This Santa Clara Stadium Aut hority (“Stadium Aut hority”) Budget Report provides information covering the Proposed Fiscal Year 2022/23 Operating, Debt Service, and Capital Budget as well as comparative data from prior fiscal years. Estimated revenue and expense information (three quarters of actuals and one project ed quarter) included in this report for the FY 2021/22 is unaudited and, therefore, subject to change as a result of the annual audit conducted by an external and independent auditing firm.
This budget provides the necessary funding to adm inister the duties of t he Stadium Authority, including:
Support for operating the Stadium for N on-NFL events through a management company; Advancement of the FY 2022/23 Work Plan;
Payment of debt service obligations; and,
Maintenance of a five-year capital plan.
The Stadium Authority Board (“Board”) provides overall governance and oversight of this operational structure, with the use of Stadium Authority staff to support the Board’s efforts. Amongst other due diligence requirements to support these duties, the Board is also responsible for: setting policy; debt and fiscal management; ensuring implementation required to uphold core duties related to operations and capital projects; and oversight as necessary.
In addition to this report, the Stadium Authority produces annual financial statements within six months of the fiscal year-end (March 31
st). These financial statements are audited by an external auditing firm and presented to the Stadium Authority’s Audit Committee and Board. Once presented to the Board, the financial st atements are published on the Stadium Author ity’s web page. The FY 2021/22 audited financial statements will be pres ented to the Board by the end of September 2022.
The Stadium Authority is structured so that the City of Santa Clara (“City”) is not liable for the debts or obligations of the Stadium Authority.
All services provided by the City to th e Forty Niners Stadium Management Company LLC (ManagementCo or Stadium Manager) or the Stadium Authority are fully reimbursed. Types of services include the following:
Administrative General Fund costs that are spent during operations are separately tracked using special account codes in the City’s fi nancial system and all such costs are billed for reimbursement.
General Fund public safety costs for NFL and Non-NFL events are separately tracked and all such costs are billed for reimbursement.
GENERAL INFORMATION
5 Methodology
Information provided in this report was based in part on documentation submitted by ManagementCo on February 18, 2022. The Capital Budget included proposals by both the St adium Authority and Stadium Manager. Per Section 4. 6 of the Management Agreement, ManagementCo is required to submit a budget 45 days prior to the start of the fiscal year.
This budget is presented in the context of ongoing litigation with ManagementCo. During FY 2019/20, the Stadium Authority issued to ManagementCo several Notices of Breaches and Default of the Management Agreement that ultimately resulted in issuing a Notice of Termination of the Management Agreement. At the March 27, 2019 Stadium Authority Board meet ing, arising from ManagementCo’s inappropriate use of public funds re lative to procurement practices, the Board directed staff to only release public funds to ManagementCo if all supporting documents have been submitted and adhere to legal agreem ents and State and local laws. Ou tside of that conditioning of payment, the Stadium Authority continues to pay for expenses that are appropriate: utilities, insurance and costs associated with Stadium Builder License (SBL) sales and services. In recognition of the fact that until these matters ar e resolved, the Stadium Authorit y budget must include repayment of debt, funding of some type for an operating budget, and capital investment in the stadium asset.
Proposed Budget in Brief
The Proposed Budget is present ed on an accrual basis which provides increased transparency for projected revenues and expenses, with added detail about financial transfers.
The total Stadium Authority Operating Budget fo r FY 2022/23 is $68.8 million and represents an increase of $3.8 million, or 5.9%, compared to the prior fiscal year. To note, this figure does not include the gross revenues or expenditures that are generated from Non-NFL events.
A summary of key assumptions for the Proposed Budget include:
General and Administrative expendi tures in the amount of $4.2 million. Legal Contingency of $10.5 million for Shared Stadium Manager Expenses ($9.0 million), Stadium Management Fee ($253 thousand), and NFL-SBL Buffet costs ($1.3 million). Net Non-NFL events income of $250 thousand for FY 2022/23. Proposed Capital Expenditures totaling $21.7 millio n including general building, security, furnishings and equipment, and public safety investments. Total estimated Debt Service expenses of $43.0 million including debt related to the CFD ($2.0 million), Subordinate Loan ($15.5 million) and Term A Loan ($25.5 million). No payment to the ManagementCo Revolving Loan.
6 The seven elected members of the City Council se rve as the governing Board of the Santa Clara Stadium Authority with the Mayor serving as Chairperson of the Authority.
In addition, City of Santa Clara staff serve as Officers of the Stadium Authority with the City Manager serving as the Executive Director.
ORGANIZATIONAL CHART
r
.Stadium Authorit y
Board
j
I
I I I I
• • · ■ •
.Stadium Authority Execut ive Director Secre tary Auditor Counse l ~ --' , ,
I
· ■
Treasu rer
....
7 NFL EVENT HIGHLIGHTS - YEAR IN REVIEW
The San Francisco 49ers played ten (10) regul ar season National Football League (“NFL”) games in FY 2021/22. Ticket sales resulted in about $9.8 milli on of NFL ticket surcharge revenue to Stadium Authority (based on the 10% NFL ticket surcharge on each ticket sold) and about $236 thousand of Senior and Youth Program Fees (based on $0.35 per NFL game ticket, with a maximum of $250 thousand) that are collected and forwarded to the City).
Operators who wish to operate a parking lot for sports or entertainment venues are required to secure approvals through the City’s permitting process. If approved, per the City’s Municipal Fee Schedule, these operators remit an offs ite parking fee for each car that is parked for sports or entertainment events. This fee was designed to recover the public safety costs associated with these permitted offsite parking lots. Therefore, when invoic ing for NFL or Non-NFL public safe ty costs for a particular event held at Levi’s
® Stadium, the offsite parking f ee that is collected for such event partly offsets the total public safety costs owed for that event. In the City’s 2020/21 fiscal year (July 1, 2020 through June 30, 2021) the offsite parking fee was $5.91, and the fee amount did not increase in the City’s 2021/22 fiscal year due to the pandemic. There were no offsite parking fees collected in FY 2020/21, and offsite parking fees are projected at about $440 thousand in FY 2021/22.
NFL EVENT HIGHLIGHTS - YEAR IN REVIEW
8 NON -NFL EVENT HIGHLIGHTS - YEAR IN REVIEW
There were no Non-NFL events hel d at the Stadium in both FY 2020/21 and FY 2021/22 due to the cancellation or postponement of events as a resu lt of the COVID-19 pandem ic. For reference, the chart below shows the net Non-NFL revenue generated by the Stadium Authority in past years:
.
NON -NFL EVENT HIGHLIGHTS - YEAR IN REVIEW
-$4.0
-$3.0
-$2.0
-$1.0
$0.0
$1.0
$2.0
$3.0
$4.0
$5.0
$6.0
$7.0
Millions
Total Non-NFL Event Revenue
9 The FY 2022/23 Stadium Authority Budget covers the Stadium Authority’s twelve-month fiscal year which runs April 1, 2022 through March 31, 2023.
Key highlights for the Stadium Authority’s FY 2022/23 Operating Budget are as follows:
Revenues
FY 2022/23 total projected revenues of $68.8 m illion include $24.8 millio n in facility rent, $24.4 million in SBL revenue, $10.8 million in NFL ticket surcharge, $7.4 million in naming rights revenue, and $1.4 million in other revenues.
Expenses
The Operating Budget of $68.5 million includes funding for oper ating expenses of $23.7 million, including monies sufficient to reimbur se the City for its staff support and payments for ground rent, and Senior/Youth fees as well as funding for SBL sales and service, insurance, legal cont ingency, and other expenses. It also includes transfers out of $44.8 million.
As shown in the table above, $41.0 million will be transferred from the Operating Fund to the Debt Service Fund for principal and interest debt service payments. The remaining $3.8 million will be transferred from the Operating Fund to the Capital Fund for Stadium capital improvements.
Shared Stadium Expenses total $3.2 million fo r insurance. This budget assumes that the continuation of conditioning of payments that was instructed in FY 2019/20 will be in effect until ManagementCo presents the required supporting documentation for the expenses. The remainder of funding requested by ManagementCo will be allocated in a Legal Contingency until that documentation is provided or resolution to the litigation is completed.
Stadium Authority General & Administrative costs total $4.2 million , a decrease of $910 thousand when compared to the pr ior year budget of $5.1 million. This decrease is mainly due to decrease in Stadium Authority Legal Services, and these costs are described in detail on Page 14 of this report.
STADIUM AUTHORITY OPERATING BUDGET
Fund Transfers Out Transfers In
Operating $ 44,,785,,580 -
Debt Service - $ 40,'9'84 ,580
CIIIP - 3,801 000 , ,
i:ota
1 I $ 44,7,85,5810 $ 44,785,580
10 STADIUM AUTHORITY OPERATING BUDGET (CONT .)
Reserves
The Operating Reserve is projected to have a balance of $12.3 million at the end of FY 2022/23 and the Discretionary Fund is projected to have a ba lance of $2.4 million. In addition, the Operations and Maintenance Rese rve totals $3.9 million and the Stadium Funding Trust Reserve totals $5.7 million.
The Contingency Reserve totals $11.4 milli on and accounts for disputed shared expenses and Non-NFL events loss. For the disputed expens es, cash proceeds are transferred to the Stadium Authority and these funds are placed in reserve pending dispute resolution.
OPERATING REVENUES Rent - $24.8M, 36.0%
SBL Proceeds - $24.4M, 35.5%
NFL Ticket Surcharge - $10.8M, 15.7%
Naming Rights - $7.4M, 10.8%
Non-NFL Event Ticket Surcharge -
$0.5M, 0.7%
Sponsorship Revenue (STR) - $0.4M,
0.6%
Non-NFL Events Revenue - $0.3M, 0.4%
Senior & Youth Program Fees - $0.2M,
0.3%
$68.8 Million
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■
■
■
■
■
■
11 STADIUM AUTHORITY OPERATING BUDGET (CONT .)
OPERATING EXPENSES
Transfers Out - $44.8M, 65.4%
Legal Contingency - $10.5M, 15.3%
Stadium Authority General &
Administrative - $4.2M, 6.1%
SBL Sales and Service - $2.1M, 3.1%
Shared Stadium Manager Expenses -
$3.2M, 4.7%
Utilities - $1.4M, 2.0%
Other Expenses - $0.8M, 1.0%
Ground Rent (paid to City) - $0.5M, 0.7%
Contribution to Operating Reserve -
$0.4M, 0.6%
Discretionary Fund Expense - $0.3M,
0.4%
Senior & Youth Program Fees (paid to
City) - $0.2M, 0.3%
Naming Rights - $0.1M, 0.2%
$68.5 Million
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■
■
■
■
■
■
■
■
■
■
■
12 STADIUM AUTHORITY OPERATING BUDGET (CONT .)
Santa Clara Stadium Authority
Operating Budget Summary
2020/21 2020/21 2021/22 2021/22 2022/23
Final Year-end Adopted Projected Proposed
Budget Actuals Budget Actuals Budget
Beginning Fund Balance
Operating Reserve $ $ 11,255,088 $ 9,693 ,657 $ 11,602 ,870 $ 11 ,960 ,870 Discretionary Fund Reserve 2,327 ,850 2,327,850 2,327,850 2,327,850 Operations and Maintenance Reserve 995 ,380 4,770,763 5,076 ,581 Contingency Reserve 6,300 ,653 13,089 ,463 6,524 ,484 11 ,366 ,540 Stadium Funding Trust Reserve 3,263 ,000 3,263 ,000 5,579 ,272 4,583,726 Excess Revenue Distribution Reserve 23,226 ,551
Total Beginning Fund Balance $ $ 47,368,522 $ 28,373,970 $ 30,805,239 $ 35,315,567 Revenues
NFL Ticket Surcharge $ $ $ 8,665 ,000 $ 9,809 ,000 $ 10,822 ,000 SBL Proceeds 24,934 ,279 24,934 ,279 23,682 ,000 26,022 ,000 24 ,398,000 Interest 896 ,000 31,645 56,000 9,000 15,000
Non-NFL Events Revenue C1>
Net Revenues from Non-NFL Events C5> 250,000
Naming Rights 6,957 ,000 6,956 ,668 7,165,000 7,165,000 7,380,000 Sponsorship Revenue (STR) 392 ,000 325 ,000 325,000 325 ,000 405,000 Rent 17,333 ,400 17,333 ,400 24,762 ,000 24,762 ,000 24,762,000 Senior & Youth Program Fees 232,000 236,000 237,000
Non-NFL Events Ticket Surcharge 150,000 574,000
BAHC Reimbursement for CFP Expenses 727 727
other Revenue 26 ,430
Contribution from Fund Balance
Total Revenues $ 50,513,406 $ 49,608,149 $ 65,037,000 $ 68,328,000 $ 68,843,000 2020/21 2020/2 1 2021/22 2021/22 2022/23
Final Year-end Adopted Projected Proposed
Budget Actuals Budget Actuals Budget
Expenses
Shared Stadium Manager Expenses
Stadium Operations $ $ (851,589) $ 1,586,000 $ 1,463,490 $ Engineering 408 ,194 1,543 ,000 1,490,000
Guest Services (221,124) 243 ,000 254,000
Groundskeeping (121 ,267) 94,000 92,000
Security 102,175 379 ,000 313 ,000
Procurement 311 ,000 259,510
Insurance 3,045 ,000 3,098 ,982 3,136,000 3,136,000 3,230 ,000 Stadium Management Fee
Shared Stadium Manager Expenses Subtotal $ 3,045,000 $ 2,415,371 $ 7,292,000 $ 7,008,000 $ 3,230,000 Other Operating Expenses
SBL Sales and Service C2> $ 1,967,000 $ 913 ,471 $ 3,448,000 $ 1,697,919 $ 2,089 ,000 Senior & Youth Program Fees (paid to City) C2> 232 ,000 236,000 237 ,000 Non-NFL Events Expense C1 > 600 ,000 476 ,960
Net Loss from Non-NFL Events <5> 600 ,000 550 ,000
Ground Rent (paid to City) <3> 390 ,000 390 ,000 425 ,000 425,000 460,000 Perfor mance Rent (paid to Cityi 3>
Discretionary Fund Expense C4> 250 ,000 250 ,000
Utilities <2> 1,264 ,000 695 ,999 1,586,000 1,310,000 1,444,000 Use of StadCo Tenant Improvements <2> 26,000 3,000 48,000 Stadium Author ity General & Administrative <4> 3,581 ,000 2,792 ,128 2,590 ,000 1,938 ,629 2,905 ,000 Stadium Authority Legal Services C4> 2,525,000 1,140,068 1,300,000 Naming Rights Commission 30,000 29,782 88,000 88,000 91,000 Legal Contingency (7) 3,967 ,000 4,842 ,056 10,542 ,420 other Expenses 913,000 (73,476) 388 ,000 195,000 723 ,000 College Football Playoff Expense 727 727
Contribution to Operating Reserve <3> 348 ,000 347,782 358,000 358 ,000 369,000 Other Operating Expenses Subtotal $ 9,093,727 $ 5,573,373 $ 16,483 ,000 $ 12,783,672 $ 20,458 ,420 Total Expenses $ 12,138,727 $ 7,988,744 $ 23,775,000 $ 19,791,672 $ 23,688 ,420
13 STADIUM AUTHORITY OPERATING BUDGET (CONT .)
Santa Clara Stadium Authority
Operating Budget Summary (Cont.)
Transfers Out
Debt Service <3>
Management Revolving Loan (7)
Capital Expenditures
Total Transfers Out
Ending Fund Balance
Operating Reserve
Discretionary Fund
Operations and Maintenance Reserve
Contingency Reserve <3>
Stadium Funding Trust Reserve
Excess Revenue Distrib ution Reserve
Total Ending Fund Balance
$
$
$
$
2020/21
Final
Budget
34,792,679
3,582,000
38,374,679
2020/21
Year-end
Actuals
$ 46,134,278
8,468,342
3,547,378
$ 58,149 ,998
$ 11 ,602,870
2,327,850
4,770,763
6,524,484
5,579,272
$ 30,805,239
<1> FY2020/21 Non-NFL Events loss was paid in FY2021/22 after revi ew of supporting documentation. (2) Recommended by ManagementCo
<3> Amounts are based on payment schedule or calculated as instructed per relevant agreements <4> Recommended by Stadium Author ity staff
2021/22
Adopted
Budget
$ 37,214,000
3,690,000
$ 40 ,904,000
$ 10,051,657
2,152,850
175,000
13,089,463
3,263,000
$ 28,731,970
2021/22
Projected
Actuals
$ 41,566,000
2,460,000
$ 44,026,000
$ 11 ,960,870
2,327,850
5,076,581
11 ,366,540
4,583,726
$ 35,315,567
<5> Net Revenues from Non-NFL Events are provided by Man Co on a cash basis , and table above reflects accrual basis; Manco anticipating Non-NFL Events net profit to range from $250,000 to $1,750,000. <0> Net Loss from Non-NFL Events is provided by Manco on a cash basis, and table above reflects accrual basis . The Stadium Author ity paid FY2020/21 Non-NFL Events expenses and continued to withhold FY2021/22 Non-NFL Events loss pending revi ew of supporting documentation s. (7) Shared Stadium Manager Expenses that Manco draw from the Excess Revenues for the Management Revolving Loan. Management Co drew $6,300,653 for FY2019/20 Shared Expenses and $2,167,689 for FY2020/21 Shared Stadiu m Manager Expenses in FY2020/21 . <3> Reserve for disputed Shared Expenses, Non-NFL Events Losses and NFL-SBL Buffet costs for FY2020/21 ($6,524,484), and FY202 1/22 ($4,842,056) 2022/23
Proposed
Budget
$ 40,984,580
3,801 ,000
$ 44,785,580
$ 12,329,870
2,364,850
3,915,307
11 ,366,540
5,708 ,000
$ 35,684,567
14 STADIUM AUTHORITY OPERATING BUDGET (CONT .)
Stadium Authority Board Duties and Proposed General and Administrative Budget
The Board is a public entity responsible fo r governing the matters concerning Levi’s ® Stadium. As
such, the Board is responsible for setting policy direction, ensuring impl ementation of its policy direction and other due diligence requirements through Stadium Authority staff, and auditing/oversight of its policy implementation, as reasonable and necessary.
To accomplish Board direction, t he administrative budget totals $4.2 million, or 6.1%, of the Fiscal Year 2022/23 Proposed Stadium Author ity Operating Expense Budget of $68.5 million. With this budget, staff will support the Board with its oversight of Levi’s ® Stadium per the various agreements
with ManagementCo and Forty-Niners SC Stadium Company LLC (StadCo or Tenant) of the stadium, such as:
1. Uphold fiduciary responsib ilities and debt obligations;
2. Maintain a productive and functional business relationship with the Tenant;
3. Develop Board policies as required for proper governance and transparency efforts concerning the Stadium Authority oversight efforts;
4. Continue the current comm unity engagement process to address and mitigate the public opinion research of the community impacts of Levi’s
® Stadium, with a focus on neighborhood response
and public service deployment improvements;
5. Continue the current noise monitoring program;
6. Implement public safety expert’s recommendations during events held at Levi’s® Stadium;
7. Develop and implement over sight initiatives consistent with public entity organizations.
Stadium Authority staff are responsible for the programmatic oversight and audit of Stadium activities.
As part of this budget, the oversight of stadium activities is allo cated primarily to the Executive Director, Stadium Authority Counsel, Auditor, Treasurer and various supporting professional staff.
As such, the Stadium Authority G&A expense budget of $4.2 million provides the financial means in which to fulfill the Board policy direction and stra tegic initiatives. A br eakdown of the Stadium Authority’s portion of the overall operating expense budget of $68.5 million is shown on the following page.
15 STADIUM AUTHORITY OPERATING BUDGET (CONT .)
Stadium Authority FY2022/23 G&A Proposed Budget
Excense Tvce Budaet Comments
Staff support $ 2,156,000 To support the Stadium Authority with its oversight duties of stadium activities Legal Services 1,300,000 As needed for outside legal services Audit Services 276,000 Financial and performance audits performed by external auditors Consultants
- Community Outreach 200,000 Community engagement efforts and/or Board initiatives consistent with the work plan - Wilson Ihrig: Noise Monitoring 50,000 Continued noise monitoring of Levi's Stadium Executive Director & Board Directives 150,000 Funding for unanticipated Board directives, Executive Director assignments, etc.
Administrative Services 44,000 Laserfiche Repository and contractor compliance monitoring services Other Expenses 20,000 Routine office expenses
Board Stipends 9,000 Stadium Authority meetings
Total $4,205,000
Stadium Author ity FY2022/23 General and Administrative Budget ■ Staff Support ■ Legal Services
■ Audit Services ■ Community Outreach
■ Noise Monitoring ■ Executive Directors and Board Directive s ■ Administrative Services ■ Other expenses
■ Board stipends
16 Accrual Basis Accounting: The method of recording revenues and expenses when they are incurred, regardless of when cash is exchanged.
Contribution to Operating Reserve: The contributions to the oper ating reserve are funded by means of excess revenues (see Excess Revenue below). ( Source: The Amended and Restated Stadium Lease Agreement)
Discretionary Fund Expense: This is funded by half of the Non-NFL ticket surcharge (see Non-NFL Event Ticket Surcharge on Page 18) and has been used to cover NFL public safety costs above the public safety cost threshold in the first three fiscal years of operation and other items at the Stadium Authority’s discretion.
Excess Revenue: If Stadium Authority revenue exceeds expenses for any lease year, such excess revenues shall be distributed as described in the t able below. This table reflects how the excess revenues were distributed in the 2019/20 fiscal year. ( Source: The Amended and Restated Stadium Lease Agreement)
STADIUM AUTHORITY OPERATING BUDGET GLOSSARY
50% ,of 2.0·22123 N,on- .20-.221.23
Pr,oj,ected Beg'inning NFL Event Ticket Discr,etionary Fund P r,ojected Ending Ba'lance Surcharg,e Expens,e Ba'lanoe
$ 2,327,850 $ 287,,000 $ 250,,000 $ 2,3'64,850
2019/20 Use of Excess Revenues
Amount
# Desc ription Funded Balance Notes
Excess Revenues at Year-e nd $ 21 ,604,182
1 Payment of Manco Revolving Loan $ (8,468,342) 13,135,840 Per Manco ; under dispute 2 Funding Operating Reserve up to $2 Million +3% annually - 13,135,840 Funding requirement met 3 Funding CapE.x Reserve an Additional $1 Million +3% annually (1 ,159,274) 11 ,976,566 Funding annual CapEx Reserve 4 Funding Operating Reserve up to $10 Million +3% annually (337 ,653) 11,638,913 Funding annual 3% requirement 5 Prepayment of StadCo Subordinated Loan (11 ,638,913) - Prepayment requi rement met 6 Funding Operating Reserve up to $20 Million +3% annually - - N/A 7 Funding Renovation/De molition Reserve up to $70 Million - - N/A 8 Available for Additional Disbursements as described in the Stadium Lease - - N/A
17 STADIUM AUTHORITY OPERATING BUDGET GLOSSARY
(CONT .)
Ground Rent: The City has agreed to lease the land under Levi’s ® Stadium to Stadium Authority for
an initial term of 40 years. The fixed ground rent schedule is noted below for the 40-year initial term. (Source: Ground Lease Agreement)
Insurance: ManagementCo procures insurance for Levi’s
® Stadium for the entire year and the cost
is split between Stadium Aut hority and StadCo (see Shared Stad ium Manager Expenses on Page 19). The stadium lease sets Stadi um Authority’s share of insurance expense at $2,550,000 for the first lease year with each succeeding lease year ’s insurance expense increasing by 3%. ( Source:
Stadium Management Agreement & The Amended and Restated Lease Agreement)
Interest: This is interest earned from cash on hand.
Naming Rights: Levi Strauss & Co (Levi’s®) pays an annual naming rights fee to Stadium Authority.
The annual fee increases by 3% each contract year through the 20-year term. This annual fee is paid in two equal semi-annual installments on or before March 1st and October 1st. (Source: Naming Rights Agreement)
The Naming Rights agreement with Levi’s
® requires the Stadium Authority to hold at least 36 “Major Events” (with 25,000+ attendees) every three contract years. Ho wever, the Second Amendment to the Stadium Management Agreement states that ManagementCo woul d pay the Stadium Authority as liquidated damages the amount owed by the Stadium Authority to Levi’s®. ManagementCo has acknowledged responsibility for liquidated damages. During discussion between the Stadium Manager and Levi’s®, it was determined based on the contract language that the first contract year began March 1, 2015. As of this report, the curr ent number of Major Events held at Levi’s® Stadium was twelve (12) through the current three-year period. Based on these numbers, Levi’s® is expected
Lease
Year(s) Fiscal Year(s)
Annual Fixed
Ground Rent
1 2014-15 180,000 $
2 2015-16 215,000 $
3 2016-17 250,000 $
4 2017-18 285,000 $
5 2018-19 320,000 $
6 2019-20 355,000 $
7 2020-21 390,000 $
8 2021-22 425,000 $
9 2022-23 460,000 $
10 2023-24 495,000 $
11-15 2024-25 through 2028-29 1,000,000$
16-20 2029-30 through 2033-34 1,100,000$
21-25 2034-35 through 2038-39 1,200,000$
26-30 2039-40 through 2043-44 1,300,000$
31-35 2044-45 throu gh 2048-49 1,400,000$
36-40 2049-50 throu gh 2053-54 1,500,000$
18 STADIUM AUTHORITY OPERATING BUDGET GLOSSARY
(CONT .)
to receive a credit totaling $442,755 ($15,000 multiplied by the difference between 36 and the actual number of events held during the three-year period then multiplie d by an Annual Proportionate Increase). The below table reflects the number of major events from March 1, 2015 to date:
Net Revenues from Non-NFL Events : ManagementCo provides management services for Levi’s® Stadium year-round. As such ManagementCo is responsible for booking and scheduling all Non-NFL events on behalf of Stadium Author ity. ManagementCo is required by the agreement to maintain complete and accurate books and records relating to the net income from the Non-NFL events. Those records are reviewed by Stadium Authority staf f and/or outside consultant s and audited by an independent auditor. After the comp letion of the fiscal year, the net revenues are paid to Stadium Authority by ManagementCo. (Source: Stadium Management Agreement)
NFL Ticket Surcharge : The Forty Niners Football Company, LLC (the Team) collects a 10% NFL ticket surcharge on the price of admission to all NFL games occurring in Levi’s® Stadium on behalf of Stadium Authority. (Source: Amended and Restated Non-Relocation Agreement)
Non-NFL Event Expense: The gross expenses for Non-NFL events held at Levi’s ® Stadium.
Non-NFL Event Revenue: The gross receipts from Non-NFL events held at Levi’s ® Stadium.
Non-NFL Event Ticket Surcharge : Promoters or sponsors of any ticketed Non-NFL event that is held at Levi’s® Stadium are required to collect a $4 per ticket surcharge on behalf of Stadium Authority.
The one-half of this surcharge that is paid to Stadium Authority co vers general stadium operations and the other half funds the Stadium Authority Discretionary Fund. (Source: Amended and Restated Stadium Lease Agreement)
Other Expenses: Miscellaneous Stadium Authority expenses such as bank fees.
Other Revenue: Miscellaneous Stadium Authority revenues.
Performance Rent: Stadium Authority pays the City performance rent on top of the fixed ground rent.
The basic calculation for the performance-based rent is 50% of the net income from Non-NFL events for any given lease year less the sum of perfo rmance-based rent credits. The performance-based rent credits include 50% of the cu rrent year’s base ground rent, and other credits. The table below represents a projection of the 2021/22 and 2022/23 Fiscal Years performance rent. (Source: Ground Lease Agreement & Amended and Restated Stadium Lease Agreement) Nam'ing Riglilts A,gr,eem,ent Numbe·r ,of
Three-Y:ear Periods Major Events
March 1, .2015 to, Febru ary .28, .201 8 40
March 1, .201 8 to, Febru ary 28, 2021 1.2
March 1, .2021 to, Febru ary 28, .2024 0
19 STADIUM AUTHORITY OPERATING BUDGET GLOSSARY
(CONT .)
Rent: The facility rent was originally set at $24.5 million for StadCo to lease the stadium for their half of the year. As a result of the rent reset arbitration award in favor of Stadium Authority, the facility rent was reset to $24.8 million retro-active to the first lease year. The rent adjustment process is outlined in the Amended and Restat ed Stadium Lease. ( Source: Amended and Restated Stadium Lease Agreement)
Senior and Youth Program Fees: During the lease terms, StadCo collects a City of Santa Clara Senior and Youth program Fee on behalf of Stadium Authority. The fee is $0.35 per NFL game ticket up to a maximum of $250,000 per lease year. ( Source: Amended and Restated Stadium Lease Agreement)
Shared Stadium Manager Expenses : ManagementCo oversees the day-to-day operations of Levi’s® Stadium year-round. Since StadCo leases the stadium from Stadium Authority for half of each fiscal year, ManagementCo stadium manager expenses are shar ed between StadCo and Stadium Authority. Most Shared Stadium Manager Expenses are split 50/50 between StadCo and Stadium Authority; grounds-keeping is the exception with a 70/30 split, StadCo being responsible for the larger share. In addition, ManagementCo procures insurance for Levi’s® Stadium that is shared between Stadium Authority and StadCo (see Insurance on Page 17). ( Source: Stadium Management Agreement & The Amended and Restated Stadium Lease Agreement)
In FY 2019/20, the Stadium Authority Board instructed the conditioning of payments until ManagementCo presents the required supporting documentation for the expenses. The FY 2021/22 projection and FY 2022/23 assume the continuation of the conditioning of payments (excluding insurance
). The remainder of funding requested by ManagementCo will be allocated in a Legal Contingency until that documentation is provided or resolution to the litigation is completed.
Sponsorship Revenue (STR) : STR Marketplace, LLC (STR) established a secondary market website to facilitate the transfer and resale of SBLs. In exchange for the use of the Levi’s® Stadium trademarks and links on the websit e (hence the title Sponsorship Revenue), STR pays Stadium Authority a minimum annua l fee of $325,000 based on the commissions that are collected by STR.
In addition to the minimum annual fee, Stadium Auth ority also receives 50% of any commissions in excess of $650,000. (Source: SBL Website Marketing Agreement)
Fiscal Year 2021/22 Fiscal Year 2022/23
Performance Rent Calculation Projection Budget
Grollnd Rent
Net Non-NFL Event Revenue I Ex ense
50% of Net Non-NFIL Event Revenue {Expense)
Performance Rent Cre,clit 1 50% of Gro und Rent
Total Performance Rent • a id to bhe Oit. of Santai Olarai $,
$,
425,000 $,
550,000 $,
(275,000) $,
212,500 $,
0 $,
460,000
250,000
125,000
,230,000
0 20
STADIUM AUTHORITY OPERATING BUDGET GLOSSARY
(CONT .)
Stadium Authority General & Administrative : As an independent public entity, Stadium Authority incurs its own expenses in relation to Board gover nance, fiduciary responsibilities, oversight, and operations of Levi’s® Stadium. These include but are not limited to Stadium Authority staff time, due diligence requirements for proper fiscal and operat ional oversight, and various outside contractors and consultants who are hired to administer the necessary requirements for owning and operating Levi’s® Stadium. Also included are various administrative type cost s such as bank fees, phone charges, IT equipment maintenance, etc.
Stadium Builder License (SBL) Proceeds: SBL holders who are on a payment plan make annual payments. Additionally, some SBL holders make payments above and beyond their annual scheduled payment plan. T here are also sales of new SBLs and/or SBLs that were defaulted and resold. SBL cash collections from all of these sources make up SBL proceeds.
Stadium Builder License (SBL) Sales and Service: ManagementCo provides sales and service to SBL holders on behalf of Stadium Authority. This includes all SBL collecti on efforts and customer service support. (Source: Agreement for Stadium Builder License Sales & Fourth Amendment to the Stadium Management Agreement)
Stadium Management Fee: ManagementCo receives an annual base management fee to manage Levi’s® Stadium. The fee was $400,000 in the first l ease year and increases by 3% annually. This annual base management fee is sp lit 50/50 between StadCo and Stadium Authority since ManagementCo manages the stadium year-round for both entities. In addition to the base management fee, ManagementCo receives a stadium marketing and booking fee (incentive fee) which is based on a percentage of the amount that the net income from Non-NFL events exceeds the marketing and booking fee benchmark. The table below shows the first 10 years of the base management fee and the stadium marketing and booking fee benchmark. It also shows the first five years of net income from Non-NFL events and a projection of the sixth year as well as the applicable marketing and booking fee which was 5% of the net Non-NFL income over the benchmark. (Source:
The Stadium Management Agreement)
21 STADIUM AUTHORITY OPERATING BUDGET GLOSSARY
(CONT .)
Transfers Out : Transfers from the Stadium Authority Operating Fund to fund Debt Service and Capital Funds.
Utilities: StadCo leases the stadium from Stadium Author ity for six months of each fiscal year from August through January. StadCo is therefore responsible for the day-to-day utilities during that period.
Stadium Authority pays for the day-to-day utilities from February through July. Utilities associated with large ticketed Non-NFL events are charged as an expense to the event which is included in the Non- NFL events expense.
Use of StadCo Tenant Improvements: StadCo charges Stadium Authority for use of various StadCo tenant improvements (such as the use of the scoreboard) during Non-NFL events. (Source: Amended and Restated Lease Agreement)
Lease
Fiscal Year Year
2014/15 1
2015/16 2
2016/17 3
2017/18 4
2018/19 5
2019/20 6
2020/21 7
202112i1> 8
2022/23 9
2023/24 10
Annual Base
Stadium
Management Fee
( SC SA Share)
$ 200,000
$ 206 ,000
$ 212,180
$ 218,545
$ 225,102
$ 231,855
$ 238 ,810
$ 245 ,975
$ 253,354
$ 260,955
Stadium
Marketing and
Booking Fee
Benchmark
$ 5,000,000
$ 5,150,000
$ 5,304,500
$ 5,463 ,635
$ 5,627,544
$ 5,796 ,370
$ 5,970,261
$ 6,149,369
$ 6,333,850
$ 6,523,866
Actual/Projected Actual Stadium
Net Income from Marketing and Total Stadium
Non-NFL Events Booking Fee Management Fee
$ 5,207 ,553 $ 10,378 $ 210,378
$ 6,079,016 $ 46,451 $ 252,45 1
$ 5,316,894 $ 620 $ 212,800
$ 5,163,329 $ - $ 218,545
$ 18,591 $ - $ 225,102
$ (2,74 1,014) $ - $ 231,855
$ (476 ,960) $ - $ 238 ,810
$ (550 ,000) $ - $ 245,975
To be determined
C1> The Net Loss from Non-NFL Events for 2021/22 is a projection
22 The Stadium Management Agreement is between
the Stadium Author ity, StadCo and
ManagementCo and was entered into as of March
28, 2012. This agreement was developed to
provide the Stadium Authority with the expertise of
an outside manager to ov ersee the day-to-day
operations of Levi’s
® Stadium. Additionally, the
Amended and Restated Stadium Lease
Agreement between the St adium Authority and
StadCo was made and entered into as of June 19,
2013.
This agreement amended the original stadium
lease to set the initial rent, to allow StadCo to enter into agreements with alternative energy providers,
to cap Stadium Authority’s share of the insurance
costs at a fixed amount each year, and to require
Stadium Authority to fund various reserves.
Per the terms of the stadium lease, StadCo leases
the stadium from the Stadi um Authority for half of
each fiscal year and is responsible for the Stadium
Manager operating expenses during that period.
The Stadium Manager operating expenses for the
other half of the year are the responsibility of the
Stadium Authority. Sect ion 8.3.1 describes the
proportionate share of Stadium Manager
expenses that are owed by the Stadium Authority
and StadCo. Namely that most stadium manager
operating expenses are sp lit 50/50 with grounds-
keeping being the exception with a 70/30 split,
StadCo being responsible for the larger share.
ManagementCo procures insurance for Levi’s ®
Stadium for the entire year and the cost is shared
between Stadium Authority and StadCo.
Section 4.7 of the M anagement Agreement notes
that ManagementCo wil l provide an Annual
Shared Stadium Expense Budget to be adopted
annually by Stadium Authority and StadCo.
Once the budget has been adopted,
ManagementCo invoices Stadium Authority
monthly for its budgeted portion of shared
expenses which include stadium manager
operating expenses. As part of the year-end
work, the budgeted amounts that were paid
are to be trued up with actual expenditures.
STADIUM MANAGER SHARED EXPENSES
23 STADIUM MANAGER SHARED EXPENSES (C ONT .)
At the March 27, 2019 Stadium Authority Board meeting, the Board directed staff to withhold Stadium Manager Shared Expenses (Shared Expenses) until adequate support is provided to justify legitimate expenditures of the am ounts requested. Apart from that c onditioning of payment, the Stadium Authority continues to pay for utilities, insuranc e and costs associated with SBL sales and services.
Accordingly, the remaining budget for Shared Expenses along with the Stadium Management Fee is included in the Legal Contingency line item until adequate support is provided.
In
FY 2019/20 and FY 2020/21, ManagementCo iss ued itself the Managem ent Revolving Loan (Revolving Loan) to pay for the Shared Expens es in the Legal Contingency line item. The Stadium Authority continues to dispute the draws on the Revolving Loan as the draws by Stadium Manager on the Revolving Loan were never authorized by Stadium Authority in accordance with Section 2.2 of the Revolving Credit Agreement dated March 28, 2012 as amended and restated as of June 19, 2013, which provides:
Each of the Loans shall be made on at least two (2) Business Days’…written notice from the Stadium Authority to Management Co (eac h such writing, a “Borrowing Notice”) specifying the proposed date… and amount of such Loan.
The Stadium Authority never issued any Notice required by Section 2.2 to Stadium Manager authorizing draws from the Revolv ing Loan. In addition, Stadium Manager's unilateral issuance of debt violated the express condition precedents of the Revolving Credi t Agreement. Section 4.2, Conditions Precedent to All Loans, of the Amended and Restated Revolving Credit Agreement, provides:
ManagementCo’s obligation to make each Loan (including the initial Loan) shall be subject to the further conditions prec edent that on the dat e of such Loan:
….(ii) the Stadium Author ity does not and will not without the making of the Loan have adequate Available funds to pay Covered Stadium Operating Expenses…
Similarly, Section 2.1(a) limits the use of Revolving Credit Agreem ent when funds are not available:
" ….solely for the purpose of en abling the Stadium Authority to pay Covered Stadium Authority Operating Expenses to the extent (and only to the extent, includi ng pursuant to the terms of the Authority Loan and any Author ity Takeout Financing(s), as applicab le) that Available Funds are not otherwise available therefor." Refer to the Debt Service Budget for more information on the Revolving Loan draw amount.
In FY 2019/20 and FY 2020/21, Stadium Manager charged Stadium Authority 3.25% interest rate on the amounts Stadium Manager unilaterally withdrew from the Revolving Loan. Starting in FY 2021/22, the Stadium Manager changed that practice, and instead issued breach of contract notices under the Management Agreement, and has been charging 12% interest rate for any unpaid balance. The issue of Shared Stadium Expenses, Revolv ing Loans, and the payment of thes e invoices are currently in litigation. As such, and based on the Board’s conditioning of payments, these costs are included in a Legal Contingency as part of this Proposed Budget.
24 STADIUM MANAGER SHARED EXPENSES (C ONT .)
Security
Stadium
Operations Engineering Guest Services Groundskeeping Total Total Compensation (2) 780,000$ 4,993,000 $ 3,444,000 $ 751,000 $ 306,000 $ 10,274,000$ Travel, Meals & Entertainment 16,000 224,000 5,000 33,000 7,000 285,000 Outside Services 2,234,000 1,755,000 1,455,000 13,000 1,191,000 6,648,000 General Supplies 47,000 41,000 1,000 120,000 129,000 338,000 Telephone 10,000 516,000 17,000 9,000 1,000 553,000 Equipment 107,000 108,000 37,000 86,000 21,000 359,000 Uniforms 16,000 - 8,000 98,000 3,000 125,000 Other 5,000 17,000 12,000 63,000 - 97,000 Subtotal 3,215,000 $ 7,654,000 $ 4,979,000 $ 1,173,000 $ 1,658,000 $ 18,679,000 $ Security
Stadium
Operations Engineering Guest Services Groundskeeping Total Total Compensation - $ - $ - $ - $ - $ -$ Travel, Meals & Entertainment - - - - - - Outside Services - - - - - - General Supplies - - - - - - Telephone - - - - - - Equipment - - - - - - Uniforms - - - - - - Other - - - - - - Subtotal - $ - $ - $ - $ - $ - $ Insurance (3) 3,230,000
Management Fee (4) -
Total 3,230,000$
(2) Total compensation is based on a total of 52 full time equivalent positions.
Stadium Manager
2022/23 Total Shared Stadium Expenses
Between the Santa Clara Stadium Authority and Forty Niners SC Stadium Company (StadCo) Santa Clara Stadium Authority Proportionate Share of Stadium Expenses (1)(5) (1) The Santa Clara Stadium Authority proportionate share of stadium expenses is rounded to the nearest $1,000 in the operating budget. (3) The stadium lease sets Stadium Authority's share of insurance expense at $2,550,000 for the first lease year with each succeeding lease year's expense increasing 3%.
(4) The stadium management agreement sets the base management fee at $400,000 for the first lease year with each succeeding lease year's management fee increasing 3%. This base management fee is split 50/50 between Stadium Authority and StadCo. (5) Shared Stadium Expenses totals $3.2 million for insurance. This assumes that the continuation of conditioning of payments that was instructed in FY 2019/20 will be in effect until ManagementCo presents the required supporting documentation for the expenses. The remainder of funding requested by ManagementCo will be allocated in a Legal Contingency until that documentation is provided or resolution to the litigation is completed.
25 Total Compensation: This cost includes full-time staff (52 employees), part-time staff, and benefits.
Stadium Authority pays for 50% of these costs except for groundskeeping which is set at 30%.
Full-time wages are costs for all management company full-time employees.
Part-time wages are costs for all management company part-time employees. Wages include annual training for all Guest Services Representatives.
Benefits are costs of employees’ health insurance, pension, vacation time, and all employer taxes.
Travel, Meals & Entertainment: These are costs for employee travel (airfare, ground, lodging, and meals) to stadium management conferences. In addition, this category includes costs for staff meals for general food and beverage, v endor engagement, and the year-end guest service employee appreciation banquet.
Outside Services: Costs for outside service providers, which include the following:
Janitorial and Medical costs related to the janitorial, cleaning, landscaping, and trash services of the interior and exterior of the stadium and medical services for the stadium during regular business hours.
Stadium Security costs for staffing 24/7 security guards in and around the stadium and explosive detection canines.
Engineering & Maintenance for mandatory safety and general maintenance costs associated with fire sprinklers, fire alarms, elevators, and backflows. Also includes outside sub-contracted calls for services for windows, signage and roof repair, HVAC & electrical, carpet, concrete or other miscellaneous repairs.
General Supplies: Supplies for stadium operations, janitorial, engineering, and Guest Services (For example: janitorial supplies, general printing costs for stadium signage, deployment sheet, notes, handbooks etc.).
Telephone: These are costs for land lines and internet/data service for the stadium, (net of the costs for the Team’s business offices), and cell service for stadium operations’ and security personnel.
Equipment: Costs associated with stadi um operations and security software, including incident tracking, mobile safety application, stadium staff scheduling/event calendar software, video surveillance licensing software, X-ray machine rental for deliveries, and monthly cost for off-site equipment storage.
STADIUM MANAGER SHARED EXPENSES GLOSSARY
26 STADIUM MANAGER SHARED EXPENSES GLOSSARY (CONT .)
Uniforms: Guest Services replacement and replenishment of uniforms.
Other Costs: Costs associated with Stadium Operations (For example: specialized training, command post, CPR first aid, background checks, recr uiting, marketing/advertising, and employee retention program).
Tenant Improvements: Interior improvements within Tenant's exclusive facilities and any other improvements within the Stadium that are to be owned by, and constructed at the cost of, Tenant or any Tenant transferee as may be agreed by the Partie s (Stadium Authority and StadCo). (Source:
Stadium Lease Agreement).
Stadium Manager
Santa Clara Stadium Authority Proportionate Share of Stadium Expenses - Five Year Forecast
2023/24 2024/25 2025/26 2026/27 2027/28
Total Compensation $ 5,228,222 $ 5,385,069 $ 5,546,619 $ 5,7 13,018 $ 5,884,409 Travel, Meals & Entertainment 145,171 1 49,526 154,012 158,633 163,392 Outside Services 3,178,561 3,273,918 3 ,372,136 3,473,300 3,577,499 General Supplies 147,76 1 1 52,194 156,760 161,462 166,306 Telephone 283,973 292,492 301,267 310,305 319,614
Equipment 180,861 1 86,287 191,876 197,632 203,561
Uniforms 63,492 65,397 67,359 69,380 71,461
Other 70,201 72,307 74,476 76,7 11 79,012
Total $ 9,298,242 $ 9,577,190 $ 9,864,505 $10,160,441 $10,465,254 Insurance C1> 3,327,172 3,426,987 3,529,796 3,635,690 3,744 ,761 Management Fee C2l 260,955 268,783 276,847 285,152 293,707 Tota.I $1 2,886,369 $13,272,960 $13,671,148 $14,081,283 $14,503,722 C1>The stadium lease sets SCSA's share of insurance expense at $2,550,000 for the first lease year with each succeed ing lease year's expense increasing 3%
C2>The stadium management agreeme nt sets the base management fee at $400,000 for the first lease year with each succeed ing lease year's management fee increas ing 3% This base management fee is split 50/50 between SCSA and StadCo.
27 Debt Service Payment : The FY 2022/23 Debt Service Budget of $43.0 million is based on the required and additional principal and interest debt service payments. A glossary is included at the end of this section that describes the type of debt and the applicable source documents for each loan. Of the $43.0 million budget, $2. 0 million represents anti cipated contributions from the Community Facilities District (CFD). The total Debt Service Reserves are projected at $24.2 million.
The schedule on page 29 provides a breakdown of th e principal and interest payments budgeted in FY 2022/23 for each loan as well as the beginning and ending balances. The total outstanding debt is projected to decrease by $29.5 million in FY 2022/23 from $279.0 million to $249.5 million.
2020/21 2020/21 2021/22 2021/22 2022/23
Final Year-end Adopted Projected Proposed
Budget Actuals Budget Actuals Budget
Beginning Fund Balance
Required Debt Service Reserve -$ 11,536,235$ 11,536,235 $ 11,536,235 $ 11,536,235 $ Debt Service Reserve - 12,111,334 11,168,171 12,111,334 12,532,334 Total Beginning Fund Balance - $ 23,647,569$ 22,704,406 $ 23,647,569 $ 24,068,569 $ Revenues
Contribution from CFD 4,028,000$ 282,021 $ 483,000 $ 1,240,000 $ 2,124,000 $ Revenues Subtotal 4,028,000 282,021 483,000 1,240,000 2,124,000 Transfers In from Operating 39,265,000 44,481,017 37,572,000 41,566,000 40,984,580 Total Resources 43,293,000 $ 44,763,038 $ 38,055,000 $ 42,806,000 $ 43,108,580 $ 2020/21 2020/21 2021/22 2021/22 2022/23
Final Year-end Adopted Projected Proposed
Budget Actuals Budget Actuals Budget
Expenses
CFD Advance 3,989,000 $ 2,015,931 $ 483,000 $ 819,000 $ 2,042,000 $ Term A Loan 25,562,000 25,562,012 25,529,000 25,528,912 25,494,000 StadCo Subordinated Loan 13,742,000 8,716,753 12,043,000 16,037,088 15,490,580 Management Revolving Loan (1) - 8,468,342 - - - Total Expenses 43,293,000 $ 44,763,038 $ 38,055,000 $ 42,385,000 $ 43,026,580 $ Ending Fund Balance
Required Debt Service Reserve -$ 11,536,235$ 11,536,235 $ 11,536,235 $ 11,536,235 $ Debt Service Reserve - 12,111,334 11,168,171 12,532,334 12,614,334 Total Ending Fund Balance - $ 23,647,569$ 22,704,406 $ 24,068,569 $ 24,150,569 $ (1) Payment redirected by StadCo to pay down Revolving Loan for FY 2019/20 ($6.3 million) and a portion of FY 2020/21 ($2.2 million) actual amount.
FY 2020/21 actual amount was updated to reflect one additional final payment that StadCo redirected.
Santa Clara Stadium Authority
Debt Service Budget Summary
STADIUM DEBT SERVICE BUDGET
28 Management Revolving Loan : It should be noted t hat on April 1, 2020, the Stadium Authority completed the Trust Excess Cash Flow funding in structions for FY 2019/20 and provided it to FinanceCo and StadCo to complete the year end Trust Excess Cash Flow funding distribution per the Deposit and Disbursement Agreement. The Trust Excess Cash Flow instruction specifically excluded payments to the Revolving Loan of $6,300,653 because the Stadium Authority did not recognize this as an expense due to the fact that ManagementCo had im properly withdrawn funds under the Revolving Loan without author ization and in violation of the Re volving Loan terms. StadCo did not follow the funding instructions and took the Excess Revenues from the distribution to pay off the Revolving Loan instead of leaving the monies in the trust bank a ccount. The Stadium Authority was informed of this diversion in a letter dated Apr il 27, 2020. On May 18, 2020, the Stadium Authority notified StadCo and the Trust that the diversion is in direct cont ravention of the Stadium Authority's instructions to the Trustee wit h regards to the use of Excess Revenue. Subsequently, the Stadium Authority has recorded a receiv able from StadCo for $6,300,653 for the portion diverted from the funding instruction. These claims are currently in litigation.
On March 31, 2021, the Stadium Authority completed the Trust Excess Cash Flow funding instructions for FY 2020/21 and provided it to FinanceCo and St adCo to complete the year end Trust Excess Cash Flow funding distribution per the Deposit and Disbursement Agreement. The instruction requested for the Trust to pay the $5,796,711 minimum debt service amount due for the Subordinate Loan in FY 2020/21. StadCo did not fo llow the funding instructions and took $2,167,689 from the distribution to pay off the Revolving Loan instead of paying down the Subordinated Loan debt service amount that the Stadium Authority instructed StadCo to pay. The Stadium Authority was informed of this diversion in a letter dated May 18, 2021. St adCo noted that the mini mum debt service amount due was $3,629,022 because the loan amortization sc hedule was reset after a loan adjustment in March 2017. However, the Stadium Authority Board did not formally approve this revised loan amortization schedule. Subsequently, because we disput e this diversion, the Stadium Authority has recorded a receivable from StadCo for $2,167,689 for the portion diverted from the funding instruction.
STADIUM DEBT SERVICE BUDGET (CONT .)
29 2022/23 2022/23 2022/23 2022/23
Debt Interest 2022/23 Beginning Principal Additional Ending Obligations rates Interest Balance Payments Payments(1) Balance Stadium Funding Trust Term A Loan 5.00% 10,771,000$ 230,138,000$ (14,723,000)$ - $ 215,415,000$ StadCo CFD Advance(2) 5.73% 1,735,000 30,375,000 (307,000) - 30,068,000 StadCo Subordinated Loan 5.50% 1,016,000 18,477,000 (4,911,000) (9,563,580) 4,002,420 Total 13,522,000$ 278,990,000 $ (19,941,000) $ (9,563,580) $ 249,485,420$ (1)Additional payment is based on anticipated revenue that is in excess of all expenses and reserve requirements.
Santa Clara Stadium Authority
Debt Service Payment Schedule
(2)Community Facilities District (CFD) principal payment is an estimate based on anticipated contributions from the CFD.
Any increase in principal for the year is due to adding unpaid interest to the principal.
STADIUM DEBT SERVICE BUDGET (CONT .)
$700
$600
$500
$400
$300
$200
$100
$-
Total Outstanding Debt (in millions)
$653.4
March March March March March March March March March March March March 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 (forecast) (forecast)
■ Construction Loan ■ StadCo Agency Advance ■ Term B Loan ■ Term A Loan ■ StadCo CFO Advance ■ StadCo Subordinated Loan
30 Contribution from the Community Facilities District (CFD) : The CFD was established for the purpose of financing and constructing publicly owned facilities. To s upport that, the CFD levies and collects a special hotel tax of 2% on hotel rooms within the CFD. During the construction of Levi’s® Stadium, Stadium Authority spent $35 million on CFD infrastructure. A ll collections from the special CFD hotel taxes are contributed to Stadium Authority to pay down the CFD Advance which was used to fund the construction of the CFD publicly owned facilities. (Source: The Reimbursement Agreement Relating to the CFD)
CFD Advance: StadCo agreed to loan Stadium Authority a not to exceed amount of $35 million for CFD infrastructure and with a maximum principal amount of $38 million including capitalized interest.
This loan bears interest at a fixed rate of 5.73% and the loan is payable solely from amounts actually received by Stadium Authority from the CFD. (Source: The Authority Promissory Note in Respect of StadCo CFD Advance)
Term A Loan: The Stadium Funding Trust (FinCo) agreed to loan Stadium Authority $282.8 million to fund construction of Levi’s ® Stadium. This loan bears interest at a fixed rate of 5% payable semi-annually, with annual principal payments due beginning in April 2018. It has a maturity date in 2039 and is subject to certain prepayment premiums. The principal payment schedule is noted below. (Source: The Restated Credit Agreement)
StadCo Subordinated Loan : StadCo agreed to loan Stadium Authority an am ount not to exceed $500 million to fund construction of Levi’s ® Stadium. The actual am ount loaned to the Stadium Authority was $236.9 million. This loan bears a fixed interest rate of 5.5% with annual principal payments due beginning in March 2016 and it may be prepaid at any time without penalties. (Source:
The Restated StadCo Obligations Agreement)
Date
Annual Principal
Payment Date
Annual Principal
Payment Date
Annual Principal
Payment
April 1, 2018 12,110,000$ April 1, 2026 8,404,934 $ April 1, 2033 13,306,164 $ April 1, 2019 12,718,000$ April 1, 2027 9,001,865 $ April 1, 2034 14,160,901 $ April 1, 2020 13,354,000$ April 1, 2028 9,630,410 $ April 1, 2035 15,060,270 $ April 1, 2021 14,022,000$ April 1, 2029 10,292,166 $ April 1, 2036 16,006,521 $ April 1, 2022 14,723,000$ April 1, 2030 10,988,812 $ April 1, 2037 17,002,017 $ April 1, 2023 15,459,000$ April 1, 2031 11,722,111 $ April 1, 2038 18,049,239 $ April 1, 2024 7,299,896$ April 1, 2032 12,493,914 $ April 1, 2039 19,150,794 $ April 1, 2025 7,838,094$
Term A Loan Amortization
STADIUM DEBT SERVICE BUDGET GLOSSARY
31 The Capital Expense (CapEx) Budget is used to fund the purchase or upgrade of fixed assets for the Stadium. While the funding for appropriations occur on an annual basis, the Capital Expense Plan extends for a five-year period (shown on Page 43 of this report). Changes to existing projects, as well as the addition of new projects, may occur during the five-year pl anning period as new needs are identified. The appropriations for c apital projects do not lapse at y ear-end but carryover into future years until the project is complete.
The FY 2022/23 CapEx Budget totals $22.0 million . Of this total, $12.3 million of prior year appropriations are projected to be carried over from FY 2021/22 ($1.5 m illion of the projected carryover amount is for warranty-related constructi on, and the other $10.8 mill ion is for prior year CapEx projects). New capital improvement appropriations equal $9.7 million.
A detailed listing of proposed FY 2022/23 projects is provided starting on Page 33 of this report.
Stadium Authority is submitting it as transmitted by the Stadium Manager.
STADIUM AUTHORITY CAPITAL EXPENSE BUDGET
32 2020/21 2020/21 2021/22 2021/ 22 2022/23 2022/23 2022/23 Total
Final Year-end Adopted Projected Projected Proposed Proposed Budget Actuals Budget Actuals Carryover Budget Budget
Beginning Balances 17,837,300 $ 17,010,611 $ 19,438,420 $ 20,805,741 $ 22,103,296 $ 22,103,296 $ Resources
3,582,000 4,741,431 3,690,000 3,689,622 - 3,800,310 3,800,310 - - - - - - - Total Resources 21,419,300 $ 21,752,042 $ 23,128,420 $ 24,495,363 $ 22,103,296 $ 3,800,310 $ 25,903,606 $ 2020/21 2020/21 2021/22 2021/ 22 2022/23 2022/23 2022/23 Total
Final Year-end Adopted Projected Projected Proposed Proposed Budget Actuals(2) Budget Actuals Carryover(3)
Budget Budget
Expenses
Construction 4,725,327 235,542 6,743,911 1,666,921 5,017,189 7,682,000 12,699,189 Equipment 6,460,557 710,759 5,734,770 725,146 5,286,252 1,269,426 6,555,678 Contingency 559,296 - 623,935 - 515,172 447,571 962,743 Stadium Warranty Related Construction 1,528,202 - 1,528,202 - 1,528,202 - 1,528,202 Total Expenses 13,273,382 $ 946,301 $ 14,630,818 $ 2,392,067 $ 12,346,815 $ 9,398,997 $ 21,745,812 $ 8,145,918$ 20,805,741 $ 8,497,602 $ 22,103,296 $ 9,756,481 $ 4,157,794 $ (1) Reimbursement from Stadium Manager
(2) Actuals exclude some project payments withheld due to the ManagementCo not following State procurement and prevailing wage laws.
Santa Clara Stadium Authority
Capital Expense Budget Summary
Transfers In from Operating
Transfers In from Stadium Manager (1)
Capital Expense Reserve
STADIUM AUTHORITY CAPITAL EXPENSE BUDGET (C ONT ’D )
33 Item Type
Electrical
Electrical
General Building
General Building
General Building
General Building
Santa Clara Stadium Authority
2022/23 CapEx Budget
SC SA Description
R,equested
Distribution - High Voltage (Primary Main Switch Gear Transformer , $ Battery & 12KV Main Circuit Breakers )
The project replaces a bad Control Power Transformer (CPT) on the Primary Main Switch Gear (PMSG) The faulty CPT was identified during preventative maintenance, inspect ion and testing of the PMSG earlier this year. The project will replace 1he current CPT, CPT drawer and CPT drawer r ails with new like-in-kind equipment. Additiona lly , the switch gear inspection and testing identified that the PMSG, Primary Switch Gear A (PSGA)and Primary Switch Gear B (PSGB) are in need of replacement This project will replace the current batteries with new like-in-kind batteries , which were origina l from the time of construction. Finally , the electrica l testing company and contractor recommended purchas ing two custom 12KV main circuit breakers which will be maintained as spare stock and can be used in either the PMSG, PSGA or PSGB in the event of a future breaker failure. The lead time for the 12KV breakers can be as long as 12-16 weeks. Purchasing these spare 12KV breakers as spare stock ensures that the stadium can quickly recover in the event of a breaker failure to PMSG equipment, which is critical to the operation of the stadium.
Distribution - High Voltage (12KV Electrical Power Study, Assessment and Replacement at Primary Switch Gear at Quadrant Substations)
The project will test, inspect and assess primary electrical 12KV switchgear equipment located in, or associated with, the four stadium quadrant electric al substations. The assessment will provide a report and recommendation for necessary replacement and modific ations necessary to maintain full and safe electrical operation at the stadium. The project includes an allowance for any necessa ry replacements and / or enhancements identified during the assessment. Replacements and / or modification s are dependent upon the results of the assessment Additiona lly, the project will establish a baseline for this electrical equipment and may determine the need and frequency of future test and inspection of electrical equipment
Levi's Naming Rights Signage Refurbishment
The project refurbishes the current four (4) Levi's Naming Rights signs located above the North and South Scoreboards , west side of the suite tower , and on the east side of the grandstands. The current signs continue to experience lighting failures despite repeated attempts to repa ir the signs.
Levi's Naming Rights Existing Signage Lighting and Driver Repair The project repairs lights and drivers in the current four (4) Levi's Naming Rights signs localed above the North and South Scoreboa rds, west side of the suite tower , and on the east side of the grandstands The current signs continue to experience lighting failures , despite the emergency repair in 2021. The project will repair LED lights and drivers for all four (4) signs The project will provide a temporary solution for the signs New Seating - Bowt Padded Seat Replacement Project - Lower and Mid Level Club Seating Bowl
The approximately 9 ,500 existing padded seats in the lower seating bowl and middle seating bowl levels will be replacement in this project. The existing padded seats are orig inal from construction and have reached end of life. The upholstery material on nearly every seat has faded, torn or cracked due to sun and heat exposure . Minor repairs and spot replacements can no longer keep up with the amount of damaged seats found in these locations. This project will also evaluate the opportunity to replace the existing padded seats with a differe nt breathable elastomeric mesh sealing project, which may provide a cooler experience on hot days This project is necessary to provide the expected level of experience to patrons attending Levi's Stadium.
Aesthetic Improvements - Premium Areas / Special Event Spaces This project will renovate and refresh the premium club spaces in the stadium by replacing carpet and paint in the BNY Clubs, Fii Club, United Club, Yahoo Club and special event spaces. These club spaces are used for numerous events throughout the year. The high traffi c experienced in these spaces have worn on finish es and caused the carpet to near the end of life. This project will enhance these premium spaces and ensure Levi's Stadium remains an attractive destination for any and all events.
Cost Contingency Total Cost
(5%)
200,000 $ 10,000 $ 210,000
400,000 20,000 420,000
1,200,000 60,000 1,260,000
400,000 20,000 420,000
3,370,000 168,500 3,538,500
1,000,000 50,000 1,050,000
34 Item Type
General Building
General Building
Security
Security
Security
Site
Site
Santa Clara Stadium Authority
2022/23 CapEx Budget {Cont.)
SC SA Description
R,equested
Overhead Doors, Motors, Sensors and Track Replacements
This project will furnish and install a replacement gate and necessary ancillary equipment at the 200 Level of the exterior ramp location at the south end of the stadium. The· original overhead roll gate is damaged and is unable to be repaired. The original gate was installed as part of the stadium construction to assist in the flow of pedestrian traffic at the ramp location. Stadium Operations staff have used operational procedu res to substitute for the non-functional gate. However, replacing the gate will restore the original operational intent of the gate at the ramp Miscellaneous
Renewal and replacement of general building items to include, but not limited to, architectural finishes, fixtures, coatings , equipment, etc.
Security Control Situation Room Enhancements
This Project purchases equipment and technology necessary to utilize the Secur ity 24/7 Control Situation Room as a Secondary Command Post Location in the event of an emergency situation. Multifunctional use of the space will utilize the equipment to hold daily security briefings , daily security officer administrative duties, ongoing security office r training, and can readily be converted into an Auxiliary Command Post Situation Room, on an as needed basis . New equipment and technology enhancements for this room will include new monitors, wor1<spaces, radios , and video wall Enhancing this room provides Security a multifunctional space that can be used both during daily operations , as well as in an emergency situation. This technology aids in our compliance with the Department of Homeland Secur ity Safety Act requirements.
Security - Electrical / Data Distribution Expansion - Security Screening Locations
Department of Homeland Sec urity requires exterior screening of all patrons entering the facility. This scope of work will add electrical and data distribution to exterior screen ing locations . The new electric al and data allows stadium security staff to utilize critical security screening technology and avoids the use of temporary extension cords, which are prohibited in a permanent locatio n by building and fire code . Specificall y, this project adds new electrical and data to the exterior portion of the stadium on level 100 in Quadrant D. This project aids in compliance with OHS Safety Act requirements.
North East Lobby Security Desk Enhancements
The scope of this project will enhance security in the east stadium lobby on major non-event days and for private events. This security checkpo int will screen everything entering the stadium at this location. These enhancements will add electrical and data connections necessary to support security screening equipment at the point of entry , which doesn't curre ntly exist at this location today . The new electrical infrastructure allows Security to position secur ity desk and equipment closer to entrance . This project is necessary to maintain compliance with Department of Homeland Secur ity Safety Act requirements.
Concrete Replacements
The Project will address the conc rete at the Northwest stairwell landing on the 700 Level North Plaza area . The railing at the stairwell has been compromised in the past. This project will restore the handrail and conc rete at the stairwell, as well as improve the condition by strengthening the reinforcing at the stairwell railing. The project will require demolition of the existing conc rete, potentially patch the waterproofing layer of the structural slab, add reinforcing steel, pour concrete, apply lymtal coting and re-install the existing handrail at the stairwell. The improved and additionally reinforced slab will improve safety and prevent future damage from carts and other equipment that are used in the nearby area LED Retrofit Project - Exterior Luminaire Light Fixtures - Gold Lot 4 , Gold Lot 5 , Bill Wal sh Way and Other Exterior Poles
This project is phase 2 of the exterior lighting replacement in Gold Lot 4 and Gold Lot 5 par1<ing lot are·as. This project replaces the existing HID lighting with new LED lighting to enhance and improve the exterior lighting during stadium event load in and load out. This lighting improves safety conditions for stadium personnel and provides energy cost savings with more effic ient fixtures. ProIect replaces exterior HID lighting that is near or has reached end of life and replaces the lighting with new energy effic ient LED lighting. Project lighting includes light poles located in Gold Lot 4, Gold Lot 5, Bill Walsh Way and other exterior locations around the stadium.
Cost
100,000
100,000
62,000
50,000
30,000
150,000
200,000
Contingency
(5%)
5,000
5,000
3,100
2,500
1,500
7,500
10,000
Total Cost
105,000
105,000
65,100
52,500
31,500
157,500
210,000
35 Santa Clara Stadium Authority
2022/23 CapEx Budget {Cont.)
Item Type SCSA Description Cost Contingency Total Cost
R,equested (5%)
Site Perimeter Enhancements 300,000 15,000 315,000
Proiect will evaluate, design, furni sh, deliver and install bollards, barriers and/or vehicle deterrent devices where necessary along the perimeter of the site in order to comply with the Department of Homeland Security Safety Act Best Pract ices
Site Private Lactation Spaces 120,000 6,000 126,000
The project will provide new lactation spaces for guests at the stadium _ The project will fund the purcha se, delivery and installation of private lactation pods to be used by guests pump or breastfeed milk in private The private lactation space(s) will include a secure door , sealing , lighting, counter, mirror , coat hook and electric al outlets. While these spaces are not required at stadium yet, they are required at other maJor assembly areas in the State of California, such as airport s, colleges , county jails, community colleges, and state colleges. Providing these spaces allow breastfeeding guests a private location to express milk and still attend and enjoy events at the stadium.
Subtotal New CapEx Construction Costs $ 7,682,000 $ 384,100 $ 8,066,100 Life Safety / Fire Smoke Evacuation System - Fire Smoke Curtain Replacement $ 50,000 $ 2,500 $ 52 ,500 This project replaces an existing Elevator C6 Smoke Curtain and miscellaneous life safety I fire equipment which has been identified for replace ment during preventative maintenance . The current smoke curtain experienced issued with the contro l box and fuses A temporary repair was performed , but a full replacement of the smoke curtain is required .
This proiect will remove the existing curtain and reinstall a new fire and smoke rated curtain .
Public Safety - Fire PPE Replacement (Nomex Tops) 5,750 288 6,038 X Proiected replacemenVadditions of Stadium battle dress uniform tops for the team.
Public Safety - Fire PPE Replacement (Nomex Bottoms ) 3,260 163 3,423 X Proiected replacemenVadditions of Stadium battle dress uniform bottoms for the team.
Public Safety - Fire Lifepak CR2 AEDs 20,000 1,000 21,000 X New request for the Joint Hazardous Assessment Team (JHAT). The current AEDs are at the end of their 7-year service life and are no longer supported
Public Safety - Fire Rope Rescue Equipment 2,000 100 2,100 X New equipment request for the Joint Hazardous Assessment Team (JHAT) . This is the miscellaneous rope software, hardware , and bags JHAT uses. This equipment will be added to our Stadium Rope Rescue equipment cache to make it identic al to what we carry on our apparatus Public Safety - IT Replacement of end of life Network equipment 105,000 5,250 110,250 X Network equipment was originally installed several years ago and is now end of life and not supported . This replacement costs include, equipment , shipping/tax and installation.
Public Safety - IT Replacement of end of life End User equipment 15,916 796 16,7 12 X Replace 4 Preci sion Desktops that are end of life. This also include1 laptop and 2 monitors replaceme nt that are no longer under warranty , in case of failure Costs include equipment , taxes, shipping, and deployment costs .
Public Safety - Police Communication Equipment - Police Radio Hand Packs 437,500 21,875 459 ,375 X Replace Motorola police radio hand packs purchased in 2013 that are at the end of the 10-year useful life.
Public Safety - Police Communicatio n Equipment - Console 80,000 4,000 84,000 X Replace MCC7500 Console communication equipment purchased in 2013 that is atthe end of the 10-year useful life.
Public Safety - Police Levi's Stadium Blast Analysis 125,000 6,250 131,250 X Engage a consultant to provide a technical blast analysis of certain areas of the stadium T his analysis would be provided to the Department of Homeland Secu rity and the Safety Act Office .
Public Safety - Police Body Worn Cameras (BWCs ) for Special Event Officers ( SEO) 90,000 4,500 94,500 X Body worn cameras , worn by police officers , improve police acco untability and lower reports of misconduct. Body worn cameras provide visual and aud io eviden ce that can independently verify events.
Body worn cameras are issued to all Specia l Event Officers (SEO's) working stadium events. The current agreement expires in September 2022. This estimated yearly cost, subject to change pending final negotiations, would continue the current BWC program .
Public Safety - Police Observation Platforms on SAP Tower 75,000 3,750 78,750 X Design and install a safe and secure platform for Santa Clara Police Department and Public Safety Officers above the roof on the SAP tower I NRG Solar Terrace .
36 Item Type
Security
Security
Santa Clara Stadium Authority
2022/23 CapEx Budget (Cont.)
EM ~~~oo
Requested
Mobile Security Closed Circuit Television (CCTV ) Pop Up Trailers This project will purchase five (5) additional units in order to enhance video coverage and audio messaging to remove locations The Mobile CC1V Pop Up Trailers provide fiexibility to our security operation.
Security has the ability to deploy the CCTY units to various locations given current demand. The CCVT units can be used to direct law enforcement to different areas on an as needed basis. They an also be used on both even or non-event days in the occurrence at stadium CC1V camera goes down for maintenance or other video coverage is required. These CC1V Pop Up Trailers will aid in maintaining compliance with the Department of Homeland Security Safety Act require ments
Security 24/7 Gate C Employee Entrance Booth
Purcha se and install new pre-manufactured Security Guard Booth at Gate C employee and guest entrance . The new booth will provide cover, power, lighting and storage for the security staff at Gate C. The booth will include a canopy for the Security walk through magnetometer and search table II will be used on both event and non-event day. The security checkp oint is necessary to screen all people entering the stadium grounds . This booth provides necessary operational support to our Security staff performing critica l screening operations required by the Department of Homeland Security Safety Act require ments.
Subtotal New CapEx Equipment Costs
Total New CapEx Project Costs
$
$
Cost Contingency Total Cost
(5%)
235,000 11 ,750 246,750
25,000 1,250 26,250
1,269,426 $ 63,472 $ 1,332,898
8,951,426 $ 447,572 $ 9,398,998
37 Item Type
Electrical
Electrical
General Building
General Building
General Building
General Building
General Building
General Building
General Building
General Building
Santa Clara Stadium Authority
2022/23 CapEx Budget Carryover
EM ~~~oo
Requested
Broadcast Booth Power (2019/20 Carryover)
The project shall design supp lemental lighting power and control s in the Broadcas t Booth (Room 04 50 02) The existing lighting grid in the ceiling has inadequate lighting and are currently contro lled with a dimmer switch near the door of the room. The Architect shall evaluate the power needs and provide a solution for better contro l methods for the broadc ast lighting power in the room .
Concessions Cart Cabling for Portable Carts (2019/20 Carryover ) Install code rated low voltage cabling (CAT6) to portab le concess ion carts .
This will provide Internet Protocol (IP) based access to the IPlV menu boards and Point of Sale (PO S) systems for cred it card transactions , as well as deliver an emergency signage to be displayed a t the concess ion stands .
Updated Stadium Wayfinding Signage (2020/2 1 Carryover) Design , furnish and install new wayfinding and information signage to include, but not limited to, new premium /club wayfind ing, suite wayfinding , smoking section signs, no smoking signs for around the main and upper concour ses, section numbers/fioor decals, ADA acce ssibility signs, Tunnel signs that "no photos/no autographs" , etc .
Stadium Event Signage (2019/20 Carryover)
The design, furnish and install of new stadium even signage including, but not limited to, tunne l awnings , accessib le seating reference areas , lower bowl sections placards , security , mobile signage , and additiona l fire and building code signage
Command Post Communication Equipment (2019/20 Carryover ) Purcha se and install public safety screens , monitors , and projection devices used in monitoring stadium and security operations to help improve situational awareness and response .
Women's Locker Room (2019/20 Carryover)
Convert a portion of the auxiliary locker room area to accommodate a larger private space for female athletes , performe rs, officials , and other female event day sporting and enterta inment professionals visiting or working events at Levi's Stadium. The pro1ect will include the design , permitt ing and con struction of alterations necessary to accom modate these new designated space s necessary to provide equal accommodations .
Automatic Logic Control Building Engineering System (2019/20 Carryove r)
Install an automatic logic contro ller system upgrade to monitor the building 's HVAC in all quadrants simultaneously . This updated system will enable graphic interface and help the system to operate more efficient ly with time clock manageme nt and assist in potentia l lighting contro l energy savings.
Club Space Flooring (2019/20 Carryove r)
Strip , resurface , and/or rep lace hardwood fiooring surfaces in the BNY East & West and Levi's 501 spaces . These spaces are among the most utilized spaces in the bu ilding and get a large amount of foot traffic . This work will help extend the usefu l life of these spaces as well as reduc ing sli s and ialls from worn fioors .
General Areas / Coatings Main Deck (2021/22 Carryover)
Replace and recoat lymtal traffic deck coating at the lower seating bowl and on the 300 and 700 Level Concourses , which are currently showing signs of wear The deck coating serves as a secondary waterproofing system for the occupied spaces below these areas and also protects and extends the life o f the concrete . Periodic replacement and recoa ting of this system is necessary to maintain current waterproofing system and maintain the expected life of the structure .
Field Turf Track Replacement (2021/22 Carryover )
The current turf track carpet is worn , buckled and compacted from use over the past five years and has reached its end of life . This project addresses the uneven grade of the current turf track carpet This project will remove the existing tra ck and rebuild it using a compacted stone base and shock layer with new carpet on top. Add ition ally , the project scope perman ently addresses the sun grade issues we experien ce with our current track by stabilizing the base to support the extreme loads it comes under during concerts and dirt events . Finall y , the new turf track will eliminate slipping hazards and improve overall safety and appea rance . $
Cost Remaining Total Cost
Contingency
16,190 $ 810 $ 17,000
50,000 2,500 52 ,500
250,000 12,500 262 ,500
138,000 6,900 144,900
58,000 2,900 60,900
353,333 17,667 371,000
27,61 9 1,381 29,000
85,000 4,250 89,250
2,450,000 122,500 2 ,572 ,500
325,714 16,286 342 ,000
38 Santa Clara Stadium Authority
2022/23 CapEx Budget Carryover (Cont.)
Item Type SCSA Description Cost Remaining Total Cost
R,equested Contingency
General Building Additional Gate and Fence at Gate D (2016/17 Carryover) 75,000 3,750 78,750 Add ition of gate and fence in the Quadrant D to assist in the contro l of peop le movement and screen ing operations . Study will take place to ensur e the gate and fence meet all operational and regulatory compliance .
Material will be furn ished and installed . ProIectg originally approved in FY 2016/ 17 but was not completed.
Gene ral Building Miscellaneous (2016/17 Carryove r) 100,000 5,000 105,000 General renewa l and replacement of flooring , carpeting, millwork, tiles, masonry , granite counters , stainless steel pane ls and counters , cladding , wall acoust ic pane ls etc . throughout the building as items reach their end of life. Project originally approved in FY2016/ 17 but was not completed .
Plumbing Plumbing (2020/21 Carryove r) 87,61 9 4,381 92,000 Project addesses general renewa l and replacement of necessary plumbing equipment in the stadium to include, but not limited to, replacement of Pressure Reducting Valves (PRV) and other parts on domestic and recycled water systems
Security Enhance Stadium Security Coverage (2020/21 Carryove r) 330,000 16 ,500 346,500 Evaluate and replace existing cameras with techno logically advanced multi- lens panoramic /360/multi-dire-ctional cameras . Design locatio ns and camera styles have created visual obstructions and gaps in coverage.
Height locations with fixed lens cameras create the inability to adjust fie ld of views Installation of television monitors/signag e near camera mounts have created field of view obstructions . Due to high volume of club space usage for large scale, and smaller events, request for video investigations become frequent. Low lighting situations are consta nt with event type needs , and enhanced technotogy from newer cameras will enable greate r video quality. Club Space Enhancements : Club spaces which need to be evaluated include, but are not limited to: BNY Mellon East and West Club , Yah oo Club, United Club, Fil Club, 501 Club, Citrix Owners Club, Entry Gates , and Perimeter fences .
Security Enhance Stadium Security Access Contr ol (2020/21 Carryove r) 235,000 11,750 246 ,750 Install card readers on manual doors to increase access control features and security . Based on operat ional demands , doors have been identified via staff request and event activity in orde r to improve opera tional awareness and enhance the access contro l abilities by automating the doors. This also increases secu rity to areas deemed by staff to hold sensitive or high value assets . The access contro l enhancements include Verlx/Mercury upgrade, EvoE400 /Mercu ry upgrade , and various doors with access control upgrade or enhancement requ irements .
Site Security Fencing - Main Lot (2020/21 Carryover) 150 ,000 7,500 157,500 Remove and replace approxi mately 1,000 linear feet of 4-foot high security fencing in Main Lot per request of City _ The removal of existing fence and the installation of the new fence is included in a permit package that is currently under review at the City Planning and Building Departments as part of a larger project in the Main Parking Lot Site Stationary Electric Pressure W ashers (2020/21 Carryover ) 49,524 2,476 52 ,000 Install one (1) to two (2) demo stations on the 300 concourse If these are effective , we would look to replace all gas-powered press ure washe rs with electrically powered ones .
Site Asphalt (2018/19 Carryover) 170 ,952 8,548 179,500 The project will evaluate the current pavement status and provide asphalt overlay and/or seal coat at the visito r parking on Tasman, Gold 4 & 5 parking lots and South Access Road . Design services will be engaged to evaluate the current conditio n of pavement and recommend the correct application . Proper overlay and crack fill seals the pavement and prevents the infiltratio n of water which prevents pavemt failure .
Site Stadium Event Power U pgrade s & Switchgear Electrical (2019/20 35,238 1,762 37 ,000 Carryover)
The project will study , design , install and enhance remote visibility to the 12KV PMSG (primary switch gear) to main electrical panel using the Schneider Powe r Monitoring Expert system. The proIect will establish capabi lity to monitor and report the Switch Gear Event Mode Status through the building Schneider Power Monitoring E xpert (PME) sy stem for remote monitoring The plans and spec ifications required will include any electrica l and communication wiring , as well as any contro ls upgrades necessary to complete the project.
Site Bridge - Pedestrian (2018/19 Carryover) 30,000 1,500 3 1,500 The project will seal walkways and paint bridges to enhance public safety access areas and extended the useful life of the bridges . Project origina lly approved in FY2018/19 but was not compelted
Subtota l Carryover CapEx C onstruction Costs $ 5,017,189 $ 250,861 $ 5,268,050
39 Item Type
AudioN isual
AudioN isual
Furniture, Fixtures
& Equipment
Furniture, Fixtures &
Equipment
Food and Beverage
Food and Beverage
Food and Beverage
HVAC/Mechanical
HVAC/Mechanical
Santa Clara Stadium Authority
2022/23 CapEx Budget Carryover (Cont.)
EM ~~~oo Cost Remaining Total Cost
Requested
Radio Booth Cabling (2019/20 Carryover)
The project will install fiber optic cabling to increase the low voltage cabling backbone This installation will accommodate the expanding requests received for booth usage during stadium events and will help the stadium keep up with emerging trends. The project will install fiber optic between multiple booths located on the 800 level suite tower location and lhP. hrnRrl rnsl r Rtc.h rRnP.I (Roo m 01 fl~ 08) nP.Rr lhP. loRrlino rlor.k on lhP. exterior south end of the stadium. Fiber design shall include TAC-12 and DT-12, or better. Design will consider new fiber termination panels in each booth. Design shall investigate and determine if additional conduit and raceway is necessary during the installation phase
Crestron Control & Building Operating System Upgrades (2019/20 Carryover)
Project shall evaluate and reco mmend a Crestron Control system upgrade and/or installation options to monitor HVAC, Lighting, Electrical, and Fire Alarms T he comprehensive system shall enable all of these items to interface with one another for stadium engineers to see a real time view of the building's systems.
Guest Service Booths (2018/19 Carryover)
Add two additional guest services booths on the main conco urse for better enhanced customer service touchpoints. New booths will provide increased operational space for guest service representatives on game day.
Replace Furniture for BNY Field Clubs, United, Levi's 501 & Yahoo clubs and Special Event spaces (2019/20 Carryover)
Purcha se replacement furnitur e for clubs (BNY, United, Levi's 501 and Yahoo) and special event spaces to enhance areas and meet client expectations. These spaces are amongst the most utilized in the entire stadium. The current furniture has been in place since the building opened in 2014 and is aging due to normal wear and tear as a result of numerous events in the stadium over the last eight years.
Beverage Distribution System (2020/21 Carryover)
Equipment to assist with the distribution of beer and sodas throughout the stadium concession areas and bars. This project includes general renewal and replacement of beverage distribution system lines, CO2 and glycol dispensing equipment
CO2 Monitoring & Sensors for Code Compliance (2020/21 Carryover) The project will design and install remote CO2 monitoring equipment utilizing the existing Automatic Logic Controller (ALC) system. The current CO2 monrtoring has a local alarm three stage alarm, but is not connected to any Building Management System for remote monitoring A recent CO2 assessment was performed that found the system the current monitoring system is compliant with all requirements , but the assessment recommended this remote monitoring upgrade as a best practic e for safety. This project will evaluate, recommend and design remote CO2 monitoring system CO2 monitoring for enhanced safety for stadium staff per Authorities having Jurisdiction. All Beer Cooler locations and Concession Soda Box Locations shall be monitored by the remote monitoring system.
Main Kitchen Equipment (2016/17 Carryover)
General renewal and replacement of kitchen servce equipment in the Main Kitchen . Project will include any necessary design, permit, purchase and installation of aging kitchen equipment that is near or at the end of life Pro1ect originally approved in FY2016/17 but was not c ompleted Cooling Towers (2020/21 Carryover)
General renewal and replacement of stadium cooling tower internal parts and systems. This includes, but is not limited to, motors, fans, fill, controls, and pipinq which support the mechanical coolinq functions for the HVAC system.
Variable Frequency Drive(s) (2020/21 Carryover)
General renewal and replacement of Variable Frequency Drives (VFD) units for cooling tower, boilers and other mechanical e quipment due to life expectancy issues. These system support the mechanical heating and cooling functions for the stadium.
$
Contingency
562,857 $ 28,143 $ 591,000
3,810 191 4,001
70,000 3,500 73,500
1,543,810 77,191 1 ,621,001
50,000 2,500 52,500
192,381 9,619 2 02,000
350,000 17,500 3 67,500
43,810 2,191 46,001
126,667 6,333 133,000
40 Santa Clara Stadium Authority
2022/23 CapEx Budget Carryover (Cont.)
Item Type SCSA Description Cost Remaining Total Cost
Requested Contingenc y
HVAC/Mechanical Install New Kitchen Exhaust Fans Throughout the Building (2019/20 266,667 13,333 280,000 Carryove r)
Install variable frequency drive (VFD) Units on kitchen exhaust fans for soft start (slow ramp up) capabilities. Kitchen exhaust fans currently operate 100 percent of the time Installing VFD units will modulate the power and save energy whenever the fan is in use. Soft start extends the life of the equipment and saves energy .
Information Financial Management Information System Project (2020/21 75,000 3,750 78,750 Technology Carryover )
Proc ure a new cloud-based financial management system for the Stadium Authority that would allow greater visibility in to Non-NFL Events and Shared Stadium Expenses. The management company that handles Non- NFL events would use the financial management system for all transactions related to Non-NFL events and Shared Stadium Expenses, as well as store supporting documentation for the transactions (Including invoices). The costs include software license/subscription , hosting fee and a consultant for implementation and process improvement There will be ongoing software license costs and possibility for additional staff time for implementation. *Subject to subsequent court rulings on cost allocation.
Public Safety - Fire Mass Casualty Incident (MCI) Trailer (2020/21 Carryover) 120,000 6,000 126,000 X The fire department currently has equipment to treat 25 patients during a large-scale emergency The MCI Trailer would allow the first responders to treat between 500-1000 people during a large-scale emergency by allowing quick access to on-board equipment and supplies.
Public Safety - Police Kawasak i Mute (2021/22 Carryover) 25,000 t ,250 26,250 X Purch ase new Kawasaki Mule for Explosive Ordinance Disposal (EOD) team. Cost includes unfitting the Kawasaki Mule with Police labels and markings , lighting and locking storage boxes. The EOD team does not currently have a dedicated vehicle and are currently walking with canines and EOD gear during response calls for suspiciou s packages and drone payloads. The EOD team is first on scene sweeping the stadium for safety issues and the last to leave. Shifts can extend past 10 hours . Purchase of a vehicle would reduce fatigue for officers and canine s and reduce response time.
Public Safety - Police Kawasak i Mule (2021/22 Carryover) 20,000 1,000 21,000 X Purcha se new Kawasaki Mule for Special Response Team (SRT) Cost includes unfitting the Kawasaki Mule with Police labels and markings , lighting , equipment storage boxes and Type 3 IME box that is approved by the U.S. Bureau of Alcohol Tobacco and Firearm s (ATF) to transporVstore breacher explosives. The SRT equipment is currently in a standard size vehicle that upon deployment would not easily maneuver the stadium or crowds of attendees; the team would be required to go to the vehicle to retrieve the required equipment extending response time. The vehicle may also be deployed to City issues and the equipment would not be readily available for use. The SRT does not currently have a dedicated vehicle.
Purchase of a vehicle would allow the SRT to mobilize needed equipment and will reduce response time.
Public Safety - Police Onsite Conex Storage (2021/22 Carryove r) 4,000 200 4,200 X Locking onsite Conex Storage container to store 3 Police Kawasaki Mules, including the requested EOD and SRT mule purchase The Conex Storage container will be housed in a parking lot dedicated for police parking with the secured footprint of the Stadium.
Public Safety - Police 2-Way CAD/24-7 Link (2020/21 Carryover ) 82,000 4,100 86,100 X All stadium personnel operate on the 24/7 dispatch system. SCPD and SCFD operate on the CAD system When public safety personnel are sent on calls, the call must be generated by hand in both systems This causes e)!ra work for dispatchers , however, more importantly this creates delays in reporting and responses to public safety incidents . A 2-way link would allow both systems to "talk" to each other and automatically create incidents in each other's system. Additionally , without this link, we cannot log officers on which creates an officer safety issue as well as an issue when it comes to management of personnel
41 Santa Clara Stadium Authority
2022/23 CapEx Budget Carryover (Cont.)
Item Type SCSA Description Cost Remaining Total Cost
R,equested Contingency
Public Safety - Police Pedest rian Safety Fencing (2019/20 Carryove r) 100,000 5,000 105,000 X Raised fencing is requested for installation on Tasman Drive from Centennial Boulevard to Calle Del Sol. This is approximately 0.4 miles ,and would be adjacent to the VTNUght Rail tracks . This fencing is required to guarantee the safety of patron s as pedestrians on Tasman Drive.
Currently , pedestrians regularly jump temporary construction barrier s and cross eastbound Tasman Drive and cross live/active VTA light rail tracks .
In addition, during events the traffic flow is reversed and pedestrians will not expect cars coming from that direction This poses a clear danger for pedestrians and mobile personne l are not always available to prevent this regular attempt by pedestrians. Raised fencing will guarantee this dangerous situation stops The cost is an estimate based on the Fencing on Tasman project
Public Safety - Police GPS Software for Tracking Personnel (2019/20 Carryover) 25,000 1,250 26,250 X Live tracking of law enforcement personnel is critical in providing an accurate picture of public safety coverage . This technology and software will allow the Command Post to know where our personnel are at all limes and make necessary assignment ad1ustments on the go II is desired that the software also be capable o f retaining data for historical analysis. The requested funding of $25,000 is the initial purchase price for approximately 100 devices and the software. There is a monthly operating cost of $30/month each ; $36,000 total annually .
Public Safety - Police Fencing on Tasman & Lafayette(2019 /20 Carryover) 70,000 3,500 73,500 X Fencing to prevent stadium event pedestrian traffic from crossing unsafely between Lafayette St and the Tasman St overcrossing
Public Safety - Police Radios (2020/21 Carryover ) 79,000 3,950 82,950 X New radios are required for equipping additional staff in our public safety deployment. These radios allow for communication to the command post and between public safety partners working our events. W ithout these critical radios, personnel would not be able to function in their capacity and as expected to provide public safety services including emergency response. The department is currently waiting on Silicon Valley Regional I nleroperability Authority to upgrade their radio infrastructure to comptete these new radio purchase s. There is a yearly operating cost; requesting quote.
Public Safety - Police Radio Chargers (2020 /21 Carryover) 3,000 150 3,150 X Our radio equipment is critic al and, therefore, their serviceability must be maintained . Each new radio will require a charging port. These three charging stations each have a 6-radio capac ity and three are needed to maintain radios at their peak power and usability . Having these three charging stations will ensure all radios are ready for use by public safety without the risk of personnel being without this crucia l equipment in a functional state.
Public Safety - Police Dispatch Monitors (2020/21 Carryover ) 8,000 400 8,400 X Our public safety dispatchers utilize several screens at their work stations in order lo facilitate their duties The necessary upgrading of our latest public safety communications center's CAD and associated software will require larger screen area to effectively manage the new information .
These 16 replacement 22" larger monitors are needed to optimize the use and intended application of the latest public safety dispatching software .
The larger screens are required to view the additional windows from the CAD system and are expected to last five years . The prior monitors were purchased six years ago and are 19" monitors. The cost includes estimated installation for three workstations
Public Safety - Police Staff Scheduling Software (.2019/20 Carryover) 16,250 813 17,063 X The Stadium requires SEOs to operate safely. Notifying and communicating with our SEOs is critical in properly planning our staffi ng needs. We currently use an out of date version of "Game Day Staffi ng." Public Safety - Public Street Signage (2017 /18 Carryover) 1,000,000 50,000 1,050,000 Works X This item was brought before the SCSA Board and approved in the 2017/18 budget Working with the Dept of Public Works, the Executive Director's office and the Chief of Police's office to identify appropriate locations on surrounding city streets (Great America Parkway , Tasman Drive, etc .) to place signage to better protect , inform and serve patrons visitng Levi's Stadium, non-event day traffic , community even advisories and emergency public safety and traffi c advisories.
Security Software Upgrade to Genetec 5.8 (2020 /21 Carryover ) 35,000 1,750 36,750 Upgrade to Genetecs newest firmwa re version 5.8. This would improve overall system performance and stability, and add new features that will help in operator training and utilization of software. Customizable live dashboards assist in monitoring alarms and events in real-time.
42 Item Type
Security
Security
Security
Security
Security
Security
Vertical Transport
SCSA
Requested
Santa Clara Stadium Authority
2022/23 CapEx Budget Carryover (Cont.)
Description
Video Analytics (2020/21 Carryo ver)
Add video analytics to assist with video investigations Video investigations take several hours/days to complete using traditi onal playback methods Adding video analytic s will greatly decrease man-hours spent in video review process, as well as aid in investigations using newer techno logy.
Parking Lot Camera Upgrades (2020 /21 Carryover)
Replace Great America parking lot cameras with techno logically advanced multi- lens panoramic/360/multi-directiona l cameras . New camera techno logy would provide better overall coverage of the main parking lot.
Sun baked cameras with fixed angles have created gaps in coverage With more video incident request coming from ingress/egre ss incidents, new technology would assist in these investigations . Install cameras in Gold lot 4i5 where there is very limited coverage .
Bowl Camera Upgrade /Refurbishment (2020/21 Carryover ) The project will replace or refurbish several seating bowl cameras . The bowl cameras have become sun baked and provide poor/obscured coverage of bowl seating. Maintenance has become an issue due to the cost and time required to erect scaffo lding to reach ca mera boxes each time the cameras require maintenance . The project will evaluate the opportunity to re-engineer the camera housing by relocating housing closer to stadium infrastructure, if possible.
License Plate Reader at Vehicle Entry Gates (2020/21 Carryover) Add six (6) Licen se Plate Reader cameras on entry/exit lanes of all vehicle gates (Post 1,2, and 3) to document and trac k vehicles entering and exiting the stadium. The LPR cameras provide additional visibility of all parties entering and existing that stadium.
Install Stadium Camera Booths Card Reader s (2019/20 Carryover) Install card reader for north and south camera booths to secure the spaces that enter into/from general public access areas Drone Detection (Antenna System) (2021/22 Carryover)
Drone intrusions are happening more frequently . W e need a detection and deterrent system in place for the Security of our venue and events.
This technology will assist Stadium Security and Law Enforcement in identifying any threats and to take measures to mitigate the threat.
Elevator Door Replacement (2019/20 Carryover)
The project replace the vestibule door frame, doors, hardware and equipment at the 200 level elevator lobby doors in the stadium The current door system does not allow the necessary door swing radius to nagivate larger Jannorial and operational equipment into the elevator lobby . The current door system was damaged due to the limitations in design and thus must be completely replaced to restore and establish ultimate operational function
Subtotal Carryover CapEx Equipment Costs
Total Carryo ver CapEx Project Costs
Cost Remaining
Contingency
35,000 1,750
40,000 2,000
135,000 6,750
45,000 2,250
84,000 4,200
55,000 2,750
20,000 1,000
$ 5,286,252 $ 264,314 $
$ 10,303,441 $ 515,175 $
Total Cost
36,750
42,000
141,750
47,250
88,200
57,750
21,000
5,550,566
10,818,616
43 Santa Clara Stadium Authority
Capital Expense Plan Summary - 5 Year Forecast
2022/23 2023/24 2024/25 2025/26 2026/27
Budget Budget Budget Budget Budget
Electrical $ 666,190 $ 300,000 $ 3,300,000 $ 225,000 $ 325,000 General Building 10,032,666 438,000 3,570,000 1,300,000 2,000,000 Plumbing 87,619 150,000 300,000 35,000
Public Safety
Security 707,000
Site 1,205,714 100,000 125,000
Subtotal CapEx Construction Costs $ 12,699,189 $ 988,000 $ 6,870,000 $ 1,825,000 $ 2,485,000 AudioNisual $ 566,667 $ 970,000 $ - $ - $ 500,000
FF&E 1,613,810 30,000 61,669
Food & Beverage 592,381 1,200,000
HVAC/Mechanical 437,144 150,000 225,000 75,000 325,000
Information Technology 75,000
Life Safety/Fire 50,000 335,000
Security 689,000 400,000 400,000 510,000 500,000
Public Safety Equipment 2,511,676 384,341 344,510 125,010 114,510 Vertical Support 20,000 400,000
Subtotal CapEx Equipment Costs $ 6,555,678 $ 1,934,341 $ 969,510 $ 1,971,679 $ 2,174,510 Contingency (5%) 962,743 146,117 391,976 189,834 232,976 Total CapEx Project Costs $ 20,217,610 $ 3,068,458 $ 8,231,486 $ 3,986,513 $ 4,892,486 Stadium Authority Work Plan
44 STADIUM AUTHORITY WORK PLAN
The Work Plan summarizes the Stadium Authority’s work priorities for the year based on previous Board direction. Last year’s Work Plan was not completed in its entirety due to the ongoing COVID-19 Pandemic and limited staff resources because of the absorption of additional projects and responsibilities from positions that became vacant during the year. One notable FY 2021/22 Work Plan item that was addressed was the Curfew, which the Board provided direction on at the November 16, 2021 meeting. Within the context of continuing to support ongoing Stadium Authority operations and the defense of several lawsuits that the 49ers have filed against the City or Stadium Authority, staff will focus on the following:
Work Effort Work Plan Planned Outcome
ADA
Compliance
Complete ADA compliance with multi-year
improvements to Main Lot.
Compliance regarding accessible
parking spaces at Stadium Main
Lot
Use of other satisfactory solutions
that prioritize ADA compliance.
Community
Room
Return to Board to seek input on
proposed next steps, including
evaluation of the other
locations discussed earlier in 2018.
Develop policy/guidelines for use.
Resolution of Community Room
location, policy/guidelines for use.
San Tomas
Aquino Creek
Trail
By review of other venues with shallow
security perimeters and legal
documents that relate to accessing the
area, and consultation with Homeland
Security and other stakeholders,
evaluate options for keeping trail open
during events and/or providing
alternate routes if trail is closed.
Creek trail access and/or safe
and/or accessible alternate route.
SCSA Board
Policy Manual
Continue to create manual, beginning
with Governance and Budget policies.
Identify areas where policies are
appropriate and propose drafts for the
Board’s approval.
Develop additional policies and
present to Board for inclusion in
manual. While needed, capacity
has not existed to develop more
policies.
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Stadium Authority Work Plan
45 SCSA Auditor
Annual Audit
Work Plan
Review the Stadium Authority Financial
Reporting Policy with staff and external
auditors and provide feedback on best
practices.
Provide oversight of Construction Fund and
Public Safety audits of transactions and
provide feedback on the allocation of staff
charges (contracted service).
Provide oversight of Non-NFL Events audit
(contracted service).
Retain consultants to perform the annual
financial audit for the Stadium Authority
(contracted service).
Promote honest, efficient,
effective and fully accountable
city government through
accurate, independent and
objective audits.