Pennsylvania Yankee Theater Company Sampson Theatre Project Market and Feasibility Analysis Shepstone Management Company, Inc. Planning & Research Consultants 100 Fourth Street, Honesdale, PA 18431 570-251-9550 FAX 251-9551
[email protected] www.shepstone.net December, 2010 Pennsylvania Yankee Theater Company - Sampson Theatre Project Market and Feasibility Analysis Table of Contents Page 1.0 Project Background and Description 1-1 2.0 Market Definition and Overview 2-1 3.0 Comparable Projects in Market Area 3-1 4.0 Market Analysis 4-1 4.1 Market Demand Trends 4-1 4.2 Projected Market Activity 4-3 4.3 Projected Capture Rate 4-4 5.0 Financial Feasibility Analysis 5-1 5.1 Prospective Capital Costs 5-1 5.2 Prospective Operating Costs 5-1 5.3 Cash Flow Analysis 5-3 5.4 Required Financing 5-4 6.0 Summary Conclusions and Recommendations 6-1 Appendices: A - ESRI Market Data B - Comparable Project Information C - Other Background Data and Information Shepstone Management Company Table of Contents Planning & Research Consultants Pennsylvania Yankee Theater Company - Sampson Theatre Project Market and Feasibility Analysis 1.0 Project Background and Description The Pennsylvania Yankee Theater Company (PYTCO) is a non-profit theater group located in Penn Yan, NY. It owns the Sampson Theater building located at the corner of East Elm Street and Champlin Avenue, which was donated to it in 2004. The Sampson Theatre, constructed in 1910 and operated as a theater until 1930, was listed on the National Register of Historic Places in 2009. PYTCO began a renovation of the building with a grant-funded roof replacement that has now been completed and seeks to fully restore the building for use, once again, as a theater and as a community cultural and conference center.