NATATORIUM FEASIBILITY STUDY for the Fredericksburg, Spotsylvania County, Regional Area

July 22, 2021 July 22, 2021

Mr. Patrick Catullo Athletic Director University of Mary Washington 1301 College Avenue Fredericksburg, Virginia 22401

Dear Mr. Catullo:

Conventions, Sports & Leisure International (CSL), in conjunction with CHA Consulting, Inc. (CHA) and M.A. + Associates (MA+A), has completed a report summarizing the results of a Natatorium Analysis and Feasibility Study for the Fredericksburg/ Spotsylvania Regional Area and the University of Mary Washington. The purpose of the analysis is to assist UMW, the City of Fredericksburg, Spotsylvania County and other community stakeholders determine the market, financial and economic feasibility of a potential new natatorium to support academic, public and private members of the greater regional area.

The analysis presented in this report is based on estimates, assumptions and other information developed from industry research, data and certain assumptions provided by stakeholders, discussions with industry participants, and analysis of competitive/comparable facilities and communities. The sources of information, the methods employed, and the basis of significant estimates and assumptions are stated in this report. Some assumptions inevitably will not materialize and unanticipated events and circumstances may occur. Therefore, actual results achieved will vary from those described and the variations may be material.

The information contained in this report is based on estimates, assumptions and other information developed from research of the market, industry trends and comparable project benchmarking, interviews with stakeholders and other local individuals, including information and assumptions provided by the aforementioned stakeholders. The analysis and findings considered the initial years of facility operation, including an anticipated COVID-19 post-pandemic recovery period. All information provided to us by the stakeholders was not audited or verified and was assumed to be correct. Because procedures were limited, we express no opinion or assurances of any kind on the achievability of any projected information contained herein and this report should not be relied upon for that purpose. Furthermore, there will be differences between projected and actual results. This is because events and circumstances frequently do not occur as expected, and those differences may be material.

We sincerely appreciate the opportunity to assist you with this project and would be pleased to be of further assistance in the interpretation and application of the study’s findings.

Very truly yours,

CSL International

Conventions, Sports & Leisure International, LLC 520 Nicollet Mall, Suite 520, Minneapolis, Minnesota 55402 ● 612.294.2000 ● www.cslintl.com TABLE OF CONTENTS

Executive Summary 4 1. Background & Situation 10 2. Local Market Conditions 12 3. Comparable Facilities 20 4. Industry Trends 27 5. Market Demand & Program 32 6. Cost / Benefit Analysis 55 Appendix A: Concept Construction Cost Detail Appendix B: Utilization, Financial & Economic Model TC EXECUTIVE SUMMARY

ES ES EXECUTIVE SUMMARY

Introduction & Background

Conventions, Sports & Leisure International (CSL), in conjunction with CHA Consulting, Inc. (CHA) and M.A. + Associates (MA+A), is pleased to present this report summarizing the results of a Natatorium Analysis and Feasibility Study for the Fredericksburg/ Spotsylvania Regional Area and the University of Mary Washington (UMW). The purpose of this analysis is to assist UMW, the City of Fredericksburg, Spotsylvania County and other community stakeholders determine the market, financial and economic feasibility of a potential new natatorium to support academic, public and private members of the greater regional area.

The attached report outlines the findings associated with the analysis. The full report should be reviewed in its entirety to gain an understanding of analysis methods, limitations and implications.

In 2016, Stafford County opened The Rouse Center, a 76,000-square foot facility offering a 50-meter competition pool with movable bulkhead and seating for over 800 spectators, a 25-yard recreation pool, a warm-water wellness pool, a group exercise studio, fitness floor, a full-size basketball court and a full-service café. Community response has been favorable to the Rouse Center and various regional high schools, club and the UMW swimming program have experienced difficulties in reserving pool time, suggesting that additional similar resources may be required to more fully meet the demand of the community.

The study process consisted of detailed research and analysis, including a comprehensive set of market-specific information derived from the following:

• PROJECT EXPERIENCE: Experience garnered through more than 1,000 sports, recreation, aquatic, hospitality and other event facility planning and benchmarking projects in communities of all sizes throughout the country. • INTERVIEWS & OUTREACH: Telephone and video conference interviews and meetings with individuals representing UMW, City and County stakeholders, private swim clubs, area schools, local hoteliers and business leaders and other local and non-local meet, camp and/or clinic producers. • BENCHMARKING: Research and analysis of facility data and interviews conducted with 30 competitive/regional and/or comparable aquatic facilities.

Market Opportunity & Demand

The potential development of a new Natatorium in Fredericksburg/Spotsylvania County has the opportunity to better accommodate demand among Fredericksburg and Spotsylvania County residents and UMW athletes, students and staff, while also creating an opportunity to attract larger regional and national meets and other sports tourism activity. While the Rouse Center, Goolrick Natatorium and other YMCA aquatic facilities provide opportunities for both youth and adult local and non-local events, various local and regional swimming programs have noted difficulties in reserving pool times at the one 50-meter competition pool in the area (Rouse Center) and have struggled to attract larger invitational meets, suggesting that additional aquatic facility resources may be required to more fully meet the demand of the community.

Based on the results of the research and analysis conducted, key market conclusions include the following:

• The results of the market analysis, including outreach and interviews with stakeholders and user groups, suggest that strong unmet demand exists among local and non-local segments for a new state-of-the-industry Natatorium in the Fredericksburg / Spotsylvania County area. • Existing aquatic facilities are insufficient to accommodate local demand and non-local demand. Additionally, existing Fredericksburg and Spotsylvania County pools are not state-of-the-industry and are at a competitive disadvantage in terms of hosting and attracting regional and/or national meets. There is not presently a modern, 50-meter Olympic pool to accommodate competitive meets and other local and non-local demand. • Local high school and club programs have historically consumed a significant amount of lane hours at area YMCA facilities. However, the YMCA’s primary focus in on providing facility access to members, which can limit access to outside rentals. Conversations with local high school and club programs indicated that there is increasing strain on access for lane hours for practices and full day rental opportunities to host invitational and some dual meets. • The Rouse Center in Stafford is the greater area’s primary 50M aquatic center facility. It is highly-utilized and is not able to sufficiently accommodate demand from non-Stafford groups (i.e., groups and residents from Fredericksburg and Spotsylvania County). Conversations with meet organizers indicated that the Rouse Center has committed to certain dates/weekends for meets and cannot accommodate all of the demand for signature invitational, conference, sectional and/or state meets. • A new state-of-the-industry natatorium could substantially-better serve UMW Varsity Swimming and Campus Rec needs, along with the needs of local area swim clubs and aquatics-based recreation, leisure, and wellness needs of Fredericksburg and Spotsylvania County residents. Additionally, a new natatorium would drive new tourism and generate new economic impact in the local area through the attraction of competitive meets and related local spending.

Natatorium Feasibility Study for the Fredericksburg / Spotsylvania County Regional Area ● Page 5 ES EXECUTIVE SUMMARY

Ownership, Governance, Management & Scheduling

Based on funding capacity and to facilitate a regionally-inclusive approach, it is believed that the proposed new Natatorium would be best served to be under public-sector ownership via Spotsylvania County and privately-managed under lease or management agreement by a qualified third-party. Spotsylvania County would outline policies, informed by aims and goals for operating the venue. To refine these policies and ensure that they are being appropriately implemented by the private management firm, it is recommended that the County create a Facility Oversight Board populated by appointed facility and community stakeholders. The Facility Oversight Board would be best positioned to manage, coordinate and ensure equitable scheduling and use of the Natatorium. Further detail concerning these recommendations are provided later in the report.

Supportable Facility Concept

Based on the results of the market analysis, a market supportable building program was developed for a potential new Natatorium in Fredericksburg/Spotsylvania County. Recommendations regarding potential facility components and other aspects evaluated herein are based on the results of the market analysis, including the historical, current and projected demographic and socioeconomic characteristics of the market area, an assessment of existing aquatic facilities in the local and regional marketplace, characteristics of comparable natatorium projects throughout the country, and discussions with potential users of a new Natatorium in Fredericksburg/Spotsylvania County.

Key concept and program components of the recommended Natatorium project include the following. Additional program detail is provided within the report and in Appendix A.

• CONCEPT: State-of-the-industry Natatorium with Olympic-size competition pool, warm-up/therapy pool, and fitness/wellness amenities. • PRIMARY POOL: Competition Pool, 50 meters x 25 yards, 8 lanes. 2 @ 1M and 2 @ 3M springboards. Pool depth of 6’7” to 13’0” depth (to allow for diving). • SECONDARY POOL: Warmup/Therapy Pool, 25-yard. • OTHER COMPONENTS: Fitness spaces, party rooms, locker rooms, F&B areas, storage, circulation, back-of- house, etc. • TOTAL FACILITY: 75,000 to 80,000 gross square feet. • PARKING: Minimum of 300 parking spaces. • TOTAL SITE: 6 to 8 acres, depending on configuration.

Concept Construction Cost Estimates

Based on the market analysis provided by CSL and the programming developed by CHA, M.A. + Associates prepared a detailed estimate of hypothetical construction costs for the potential new Natatorium project in Fredericksburg/Spotsylvania County. Cost estimates are presented in 2021 dollars and were generated using industry per-unit data adjusted for conditions in Fredericksburg / Spotsylvania County and cost data of comparable natatorium projects, modified for time and locations. Construction costs tend to vary widely among comparable facility projects. Many variables exist that influence actual realized construction costs, including type of facility, size, components, level of finish, integrated amenities, costs of goods and services in the local market, location and topography of the site, ingress/egress issues, and other such aspects. Further detail concerning the construction cost estimates and assumptions generated by M.A. + Associates is provided within the report and in Appendix A.

For purposes of this estimate, the unit costs are consistent with higher education/university campus architectural themes and finishes. In comparative terms, this would result in a state-of-the-industry, multi-component Natatorium facility product that is consistent with, but possessing a slightly higher quality of finish and amenity installation than the current Rouse Center in Stafford.

Total order-of-magnitude hard and soft project costs associated with a new Natatorium project in Fredericksburg/Spotsylvania County are estimated at approximately $58.0 million. This figure does not include any costs related to site acquisition, nor does it consider the highly-volatile steel, lumber and materials costs presently impacting the construction industry nationwide as the country exits the unprecedented pandemic. It is assumed that current construction cost volatility will largely be normalized to pre- pandemic levels by the time that construction services would be contracted/purchased for any new Natatorium project in Fredericksburg/Spotsylvania County.

Natatorium Feasibility Study for the Fredericksburg / Spotsylvania County Regional Area ● Page 6 ES EXECUTIVE SUMMARY

Projected Utilization

Utilization was estimated for participation in UMW Varsity Swimming training, UMW Campus Recreation activity, club and high school swimming training, dual and invitational meets, as well as other programming that may be hosted at a potential new Natatorium in Fredericksburg/Spotsylvania County during a stabilized year of operations, assumed to occur by the fourth full year of operations. Estimated utilization was based on conversations with potential users and other project stakeholders, as well as industry knowledge of the operations of comparable aquatic facilities around the country.

As shown, upon stabilization, a new Natatorium is estimated to annually accommodate approximately 125,200 participants (swimmers), with a total annual attendance (swimmers + coaches/staff + spectators) of approximately 227,300 (58 percent of which would would be local). Programming is estimated to generate nearly 51,300 lane hours. Upon stabilization, it is estimated that the Natatorium will attract an average of 28 meets per annum and approximately 78,600 meet attendee days (an estimated 74 percent of which would represent non-local visitors to Fredericksburg/Spotsylvania County).

Estimated Utilization of a New Natatorium in Fredericksburg / Spotsylvania County (50M Competitive Pool + 25M Recreational Pool + Diving, Stabilized Year of Operations)

Number Hours of Average Spectator Total Non- Total Total of Lanes Use Lane Participants Total Attd. Spectator Total Local Local Local Non-Local Used Per Lane Hours Per Hour Participants Factor Attendance Attendance % % Attendance Attendance PROGRAMMING UMW Varsity 12 375 4,503 60 22,500 0.3 6,750 29,250 90% 10% 26,325 2,925 Tsunami 6 528 3,168 50 26,400 0.3 7,920 34,320 70% 30% 24,024 10,296 Stingrays 6 528 3,168 50 26,400 0.3 7,920 34,320 70% 30% 24,024 10,296 Local High Schools 10 228 2,280 20 4,560 0.3 1,368 5,928 95% 5% 5,632 296 Intro to Diving 4 440 1,760 5 2,200 0.3 660 2,860 60% 40% 1,716 1,144 Open Swimming 6 3,500 21,000 3 10,000 0.0 0 10,000 85% 15% 8,500 1,500 UMW Campus Rec 14 96 1,344 5 480 0.0 0 480 90% 10% 432 48 Open Swim Lessons 4 1,408 5,632 8 11,264 0.8 9,011 20,275 70% 30% 14,193 6,083 Rehab & Physical Therapy 4 1,100 4,400 1 1,100 0.0 0 1,100 60% 40% 660 440 Fitness Classes 3 440 1,320 12 5,280 0.0 0 5,280 70% 30% 3,696 1,584 Other Users & Misc 10 270 2,700 15 4,050 0.2 810 4,860 50% 50% 2,430 2,430

Subtotal: 51,275 114,234 0.3 34,439 148,673 75% 25% 111,631 37,042

Average Spectator Total Days Non- Total Total Number Participants Total Attd. Spectator Per Total Local Local Local Non-Local of Meets Per Meet Participants Factor Attendance Meet Attendance % % Attendance Attendance MEETS UMW Invitational Meets 4 800 3,200 2.0 6,400 3.0 28,800 20% 80% 5,760 23,040 UMW Dual Meets 7 100 700 2.0 1,400 1.0 2,100 50% 50% 1,050 1,050 Club & Other Invitational Meets 9 600 5,400 2.5 13,500 2.0 37,800 30% 70% 11,340 26,460 High School Invitational Meets 3 400 1,200 2.5 3,000 2.0 8,400 20% 80% 1,680 6,720 High School Dual Meets 5 100 500 2.0 1,000 1.0 1,500 40% 60% 600 900

Subtotal: 28 393 11,000 2.3 25,300 78,600 26% 74% 20,430 58,170

TOTALS 28 4,473 125,234 0.5 59,739 227,273 58% 42% 132,061 95,212

Natatorium Feasibility Study for the Fredericksburg / Spotsylvania County Regional Area ● Page 7 ES EXECUTIVE SUMMARY

Financial Operating Projections

An analysis of estimated operating revenues and expenses associated with the potential new Fredericksburg/Spotsylvania County Natatorium was conducted. This presentation is designed to assist project representatives in estimating the financial attributes of the potential new Natatorium and cannot be considered to be a presentation of expected future results.

The majority of comparable natatorium and aquatic center facilities of this nature involve public sector funding participation (both in terms of construction and operations). Most of the facilities throughout the country similar to the potential new Natatorium operate at an annual financial deficit. Non-operating direct support could come from a variety of sources including public sector support (i.e., general funds, dedicated tax proceeds, etc.), grants, philanthropy and other such sources. A typical cost recovery for comparable natatorium and indoor aquatic center facilities ranges between 50 to 70 percent of total operating costs.

Those natatoriums and aquatic centers that are privately-owned and operated throughout the country typically employ unique marketing and booking strategies that maximize operating revenue and minimize operating expenses. For instance, most privately- owned facilities offer significant in-house programming, clinics, lessons and other such activities. These facilities also tend to be less inclusive and accommodating of affordable community and civic activities and programs (such as recreational swim, learn-to- swim classes, and fitness/wellness activities), in addition to being more selective in pursuing and booking significant non-local meets and other sports tourism events.

Operating revenues and expenses for a potential new Natatorium in Fredericksburg/Spotsylvania County have been projected over a 20-year period. The exhibit below presents the estimated annual financial operating results for the potential new Natatorium for the first four years of operations plus a 20-year cumulative estimate. Figures are presented in terms of constant 2021 dollars. Additionally, the estimates below do not include any “non-operating” items, such as debt service or capital repair/replacement funding. As shown in the exhibit, upon stabilization of operations (in 2021 dollars), a new Natatorium is projected to generate approximately $1.9 million in annual operating revenues, while incurring approximately $2.0 million in operating expenses. The projected annual operating deficit of approximately $128,000 (upon stabilization) is better than the industry average for other comparable natatoriums located throughout the country.

Further detail surrounding all the assumptions, calculations and projections that were developed are presented in Appendix B at the conclusion of this report.

Opening Stabilized 20-Year FINANCIAL OPERATIONS Year 1 Year 2 Year 3 Year 4 Cumulative OPERATING REVENUES Registration Fees $329,750 $346,600 $363,450 $380,300 $7,504,900 Rental Income $531,020 $560,440 $609,860 $639,280 $12,569,080 Concessions (gross) $416,711 $439,256 $490,951 $513,496 $10,076,357 Advertising/Sponsorship $216,300 $221,300 $226,300 $231,300 $4,596,000 Other $90,000 $100,500 $111,000 $121,500 $2,367,000 Subtotal $1,583,781 $1,668,096 $1,801,561 $1,885,876 $37,113,337 OPERATING EXPENSES Salaries, Wages and Benefits $729,400 $734,400 $739,400 $744,400 $14,858,000 Utilities $291,400 $291,400 $291,400 $291,400 $5,828,000 Maintenance and Repair $76,600 $76,600 $76,600 $76,600 $1,532,000 Materials and Supplies $59,900 $59,900 $59,900 $59,900 $1,198,000 Insurance $112,400 $112,400 $112,400 $112,400 $2,248,000 Concessions $166,700 $175,700 $196,400 $205,400 $4,030,600 General and Administrative $82,000 $87,000 $92,000 $97,000 $1,910,000 Management Fee $150,000 $160,000 $170,000 $180,000 $3,540,000 In-House Operations/Programming $214,300 $225,300 $236,200 $247,200 $4,878,200 Subtotal $1,882,700 $1,922,700 $1,974,300 $2,014,300 $40,022,800 NET OPERATING INCOME ($298,919) ($254,604) ($172,739) ($128,424) ($2,909,463)

Natatorium Feasibility Study for the Fredericksburg / Spotsylvania County Regional Area ● Page 8 ES EXECUTIVE SUMMARY

Economic Impacts & Key Performance Projections

Based on the results of the detailed analysis of market demand, utilization, financial operations and economic impacts, a summary of key projections for a new Natatorium in Fredericksburg/Spotsylvania County associated with its construction and annual operations is presented below (upon stabilization of operations, in 2021 dollars). Further detail surrounding all the assumptions, calculations and projections that were developed are presented within the body of the report and in Appendix B.

SUMMARY OF KEY PERFORMANCE PROJECTIONS ASSOCIATED WITH A NEW NATATORIUM IN FREDERICKBURG/SPOTSYLVANIA COUNTY (Annual Operating Impacts Upon Stabilization Plus One-Time Construction Period Impact, 2021 dollars)

ANNUAL PROGRAM ANNUAL ANNUAL LANE HOURS SWIM MEETS ATTENDANCE 51,275 28 185,000

ANNUAL ANNUAL CONSTRUCTION OPERATING REVENUE HOTEL RM NIGHTS PERIOD IMPACT $1.9M 17,900 $48.9M

ANNUAL ANNUAL ANNUAL DIRECT INDIRECT/INDUCED ECONOMIC SPENDING SPENDING OUTPUT $11.3M + $7.8M = $19.1M

ANNUAL ANNUAL ANNUAL PERSONAL EMPLOYMENT COUNTY TAX INCOME (FULL & PART-TIME JOBS) REVENUE $7.9M 246 $0.5M

In addition to the quantifiable projections of utilization, financial operations and economic impacts shown above, there are a number of potential benefits associated with a new Natatorium project that cannot be quantified. In fact, these qualitative benefits tend to be a critical factor in the consideration of public and private investment in facilities of this nature. These include issues pertaining to quality of life and wellness, ancillary economic development facilitation, employment opportunities, support for local area universities and schools, community pride, and other such items.

Natatorium Feasibility Study for the Fredericksburg / Spotsylvania County Regional Area ● Page 9 BACKGROUND & SITUATION

1 1 BACKGROUND & SITUATION

Introduction

Conventions, Sports & Leisure International (CSL), in conjunction with CHA Consulting, Inc. (CHA) and M.A. + Associates (MA+A), was retained by the University of Mary Washington (UMW), with additional funding support provided by Spotsylvania County (County) and the City of Fredericksburg (City), to develop a feasibility study for a potential new Natatorium serving the Fredericksburg/Spotsylvania Regional Area. The purpose of the study is to assist UMW, the City, the County and other community stakeholders determine the market, financial and economic feasibility of a potential new Natatorium to support academic, public and private members of the Fredericksburg/Spotsylvania Regional Area.

The study process consisted of detailed research and analysis, including a comprehensive set of market-specific information derived from the following:

An outline of the study’s scope of work is provided below:

1. Kickoff, Project Orientation, and Interviews 2. Economic, Demographic and Destination Analysis 3. Competitive and Comparable Facility Analysis 4. Market Outreach, Interviews and Surveys 5. Program and Utilization Analysis 6. Preliminary Construction Cost and Financial Operations Analysis 7. Economic Impact and Cost/Benefit Analysis 8. Preparation and Presentation of Final Report

Natatorium Feasibility Study for the Fredericksburg / Spotsylvania County Regional Area ● Page 11 LOCAL MARKET CONDITIONS

2 2 LOCAL MARKET CONDITIONS

Introduction

An important component in assessing the potential success of a new Natatorium for the Fredericksburg/Spotsylvania County regional area is the demographic and socioeconomic profile of the local and regional market. The strength of a market in terms of its ability to support and utilize sports and recreation facilities is measured, to some extent, by the size of the regional market area population, its age, income, and other characteristics. In addition to the demographic profile of the local and regional market area, other local market characteristics have relevance when considering the attractiveness of a particular community as a host for high quality aquatic and recreation complexes. These include items such as transportation accessibility, climate, existing inventory of athletic facilities, and visitor amenities (such as hotels, attractions and other such items).

Market & Destination Attributes

Fredericksburg, Virginia is a mid-size town located in Northeastern Virginia. It is situated approximately an hour’s drive from Fairfax and Richmond, an hour and a half from Washington, D.C., and two hours from Baltimore. The city itself has 28,622 residents, and Spotsylvania County, the county to Fredericksburg’s southwest, is relatively large, with a population of 136,215. Both Fredericksburg and Spotsylvania County are located within the Washington, D.C., Metropolitan Statistical Area, which has a total population of 6,133,552, and is the sixth largest such area in the United States.

The median income for residents of Fredericksburg is $34,585, which is slightly above the national median of $31,133, and the median income of Spotsylvania is $33,163. The primary employer in Fredericksburg is the University of Mary Washington, with its hospital being the primary employer with over 1,000 employees residing in Fredericksburg.

Interstate 95 runs through Fredericksburg, which provides northern access to cities such as Washington, D.C., and southern access to cities such as Richmond. Virginia State Route 3 runs east to west through Fredericksburg and Spotsylvania County and provides access to the coast of Virginia.

Fredericksburg’s downtown is noted for its historic character, and features chef-owned restaurants, art galleries, and specialty and antique shops. Fredericksburg is the site of George Washington’s boyhood home, and Ferry Farm and Belmont, which was the home of painter Gari Melchers. Spotsylvania County is also littered with history, with 4,400 acres of Civil War battlefields, and also features the Lake Anna Winery. The entire area rests on the banks of the Rappahannock River, which originally served Fredericksburg as an inland frontier port. Finally, Fredericksburg’s downtown features a historic district which preserves colonial structures from the town’s early history.

Fredericksburg’s dominant industries are education and healthcare, owing to the location of University of Mary Washington located within Fredericksburg, and its accompanying hospital, which is the largest employer in the city. Other major industries include government and retail, with the City of Fredericksburg, and Walgreens being major employers within the city. Spotsylvania County’s dominant industry is government, with its two largest employers being the Spotsylvania County School Board, and Spotsylvania County itself.

Natatorium Feasibility Study for the Fredericksburg / Spotsylvania County Regional Area ● Page 13 2 LOCAL MARKET CONDITIONS

The University of Mary Washington, founded in 1908 and named for the mother of George Washington, is a public University conferring both undergraduate and graduate degrees located in Fredericksburg, Virginia. From 1944 through 1972, the University functioned as the Women’s College extension for the University of Virginia, until becoming coed and organizing itself as an independent college in its own right. The University was renamed to the University of Mary Washington by the General Assembly of Virginia in 2004. The undergraduate enrollment at the University of Mary Washington is approximately 4,400 students. The University’s main campus is an hours drive from Washington D.C. and Richmond, Virginia. The University also has two satellite campuses: one in Stafford, Virginia, which mainly serves graduate level students, and one in Dahlgren, Virginia, which offers professional development courses for engineers, scientists, and administrators. Academically, the University offers 50 majors, 41 minors, and 4 graduate programs. The University has seen relatively recent expansion, with the College of Business and the College of Education being added in the summer of 2010.

The University of Mary Washington has 23 athletic teams, all part of Division III of the NCAA, and they compete within the Coast-to- Coast Athletic Conference. The in-house swimming team competes in intercollegiate competition, and, in addition, have a swim club for more casual swimmers to compete against each other. Currently, the University of Mary Washington’s swim teams compete at Goolrick Hall, a 75,000 square foot natatorium located on campus with refurbished office spaces for athletic administration, coaches’ offices, a student-athlete lounge, and study tables. In addition to the Natatorium, Goolrick Hall has a 15,000 square foot fitness center connected to Goolrick and has 8,000 square feet of activity space. From 1991 through 2005, the University of Mary Washington hosted the Capital Athletic Conference’s Swimming Championships, a competition Mary Washington routinely wins.

Location & Accessibility

The exhibits below illustrates the proximity of Fredericksburg with other nearby markets and the markets/land area captured within 15, 30, 60, and 180 minutes of drive time of the targeted site area. These distances will be utilized on the subsequent page for purposes of comparing demographic and socioeconomic variables.

Distance Drive to Site Time Market Market (in miles) (hrs:mins) Population Richmond, VA 60 1:00 226,600 Washington DC 52 1:25 692,700 Annapolis, MD 87 1:30 32,300 Charlottesville, VA 72 1:35 47,000 60 Minutes Baltimore, MD 94 1:50 600,000 Norfolk, VA 145 2:20 244,600 15 Minutes 30 Minutes Virginia Beach, VA 159 2:30 450,200 Chesapeake, VA 160 2:30 240,000 Dover, DE 147 2:40 37,500 Harrisburg, PA 163 2:45 49,200 Philadelphia, PA 192 3:20 1,584,100 Raleigh, NC 229 3:20 464,500 Pittsburgh, PA 291 4:35 302,200 New York, NY 278 4:40 8,491,000 Scranton, PA 286 4:45 77,100 Charlotte, NC 351 5:05 857,400 Columbus, OH 464 7:00 878,600 Boston, MA 488 8:15 684,379

Natatorium Feasibility Study for the Fredericksburg / Spotsylvania County Regional Area ● Page 14 2 LOCAL MARKET CONDITIONS

Demographic & Socioeconomic Characteristics

The exhibit below presents a summary of key demographic metrics associated within the aforementioned drive time ranges surrounding the Fredericksburg site, along with the city of Fredericksburg, Spotsylvania County, State of Virginia, and United States benchmarking data. As shown in the exhibit, the estimated population within the city of Fredericksburg is approximately 28,698 and is expected to remain stable over the next five years. The population within fifteen minutes of the site is approximately 100,000. Given the University of Mary Washington’s presence within the downtown, the percentage of population than falls within the 15- to 34-year-old age groups within five miles of the Natatorium site is significantly higher than the national average.

Median household income for Spotsylvania County is approximately $90,800. The ratio of employees to resident population within fifteen minutes of the site is significantly lower than the City of Fredericksburg and US benchmarks, respectively, with 0.35 employees per resident.

City of Spotsylvania United DEMOGRAPHIC VARIABLE 15-Miles 30-Miles 60-Miles 180-Miles Fredericksburg County State of Virginia States POPULATION: 2020 Total Population 100,534 249,394 1,500,830 15,076,363 28,698 139,511 8,684,166 333,793,107 2025 Total Population 107,388 271,749 1,590,089 15,646,377 30,535 148,692 9,008,218 346,021,282 Historical Annual Growth Rate (2010 to 2020) 3.50% 3.80% 2.10% 1.20% 1.80% 1.40% 1.30% 0.90% Projected Annual Growth Rate (2020 to 2025) 1.30% 1.70% 1.20% 0.70% 1.30% 1.30% 0.70% 0.70% AGE: Median Age 36.2 36.9 37.3 38.8 31.4 38.1 38.9 38.5 Population Age 25 to 44 29.2% 27.7% 28.1% 27.7% 29.5% 27.10% 26.90% 26.6% AGE DISTRIBUTION: Under 15 20.9% 20.0% 20.70% 19.20% 16.90% 20.10% 18.00% 18.40% 15 to 24 12.1% 13.0% 13.20% 14.00% 21.20% 12.00% 12.90% 13.00% 25 to 34 15.2% 14.4% 14.20% 13.80% 17.80% 13.80% 13.90% 14.00% 35 to 44 14.0% 13.3% 14.10% 13.90% 11.70% 13.30% 13.00% 12.60% 45 to 54 13.3% 13.1% 12.00% 15.30% 9.90% 13.80% 12.90% 12.50% 55 and over 24.5% 25.1% 28.30% 23.70% 22.50% 27.10% 29.40% 29.50% HOUSEHOLD INCOME: Median Household Income $88,634 $86,556 $81,508 $79,917 $66,359 $90,764 $73,543 $62,203 Per Capita Income $38,122 $38,286 $40,177 $42,654 $37,093 $38,539 $43,727 $34,136 INCOME DISTRIBUTION $0 to $24,999 10.9% 11.1% 11.10% 14.40% 18.80% 10.80% 16.00% 19.1% $25,000 to $49,999 11.7% 14.2% 16.60% 16.60% 19.30% 11.50% 18.40% 20.9% $50,000 to $74,999 18.0% 17.1% 16.00% 15.80% 16.30% 17.70% 16.20% 17.3% $75,000 to $99,999 15.3% 14.4% 13.50% 12.90% 13.30% 14.30% 12.80% 12.6% $100,000 to $149,999 21.2% 21.4% 19.40% 18.10% 15.40% 21.70% 16.80% 15.3% $150,000 or more 22.9% 21.8% 21.50% 22.20% 16.90% 24.00% 19.70% 14.8% POPULATION BY RACE/ETHNICITY White/Caucasian 71.7% 68.2% 59.80% 58.40% 61.80% 70.90% 65.30% 72.40% Black/African American 17.9% 18.9% 24.10% 26.00% 23.80% 16.70% 19.40% 12.60% American Indian 0.3% 0.4% 0.40% 0.40% 0.40% 0.30% 0.40% 0.90% Asian 2.7% 3.0% 6.30% 6.90% 2.90% 2.90% 7.00% 4.80% Pacific Islander 0.1% 0.1% 0.10% 0.10% 0.10% 0.10% 0.10% 0.20% Other Race 4.1% 4.6% 4.90% 4.50% 6.30% 4.60% 4.00% 6.20% Two or More races 3.7% 4.7% 4.40% 3.80% 4.70% 4.40% 3.80% 2.90% Hispanic Origin 9.4% 11.4% 12.10% 10.90% 11.50% 11.20% 10.10% 16.30% Diversity Index 63.3 60.0 67 66.7 65.1 57.4 61.7 60.6 BUSINESS Businesses (2020) 2,985 7,737 46,979 509,020 2,013 3,515 277,734 11,994,763 Employees (2020) 34,741 97,213 678,768 6,827,128 28,882 38,931 3,804,120 146,120,824 Employee/Residential Population Ratio .35:1 .39:1 .45:1 .45:1 1.01:1 .28:1 .44:1 0.44:1

Source: Esri, 2021.

The level of population from which natatoriums and other similar sports and recreation facilities will draw participants, both short- term and long-term, impacts the utilization of the facilities. Additionally, household income is another important socioeconomic characteristic of host markets that typically impacts facility performance. Income levels can serve as an indication of area households’ ability to support swimming, other team sports, and recreation in the region by paying league and registration fees and other costs associated with participation. The affluence of area households can also impact the types of programming that will be most successful at a natatorium or other sports and recreation facility.

Natatorium Feasibility Study for the Fredericksburg / Spotsylvania County Regional Area ● Page 15 2 LOCAL MARKET CONDITIONS

As is typical in most communities housing a natatorium or other sports/recreation facility of the nature being considered, the marketplace will likely be sensitive to material increases in youth swimming and other sports registration fees that may become necessary to support the operations of a potential new natatorium. In developing fee structures for a potential new natatorium in Fredericksburg-Spotsylvania County, it will be important to identify price points that allow local swim/sports/recreational organizations to afford to use the facility without pricing-out the participant base through increased participation/registration fees. To potentially mitigate the impact of lower household incomes, it may become important to emphasize the opportunities provided by a natatorium to youths from underprivileged families. Further, it may be beneficial to consider scholarship and other financial assistance programs to maximize utilization of the facility.

The regional corporate base (number of companies) also can play an important role in the success of natatoriums and other sports facilities. Corporate sponsorships and donations are potential sources of capital funding and operating income for natatoriums and other amateur sports and recreation facilities. The majority of corporate sponsorship opportunities in comparable natatoriums are often in the form of sponsorships, banners, scoreboard advertising and other such opportunities; many of which would be relatively inexpensive. As a result, a significant portion of companies within a host market have the opportunity to participate in advertising and sponsorship opportunities at local sports and recreation facilities.

The maps below present heat maps by census tract that show the Fredericksburg and Spotsylvania County area. The stars on each map represent a hypothetical Fredericksburg site location.

2020 Population 2025 Population

2020 Average HH Income 2020 # of Businesses

Source: Google Maps, Esri, 2021.

Natatorium Feasibility Study for the Fredericksburg / Spotsylvania County Regional Area ● Page 16 2 LOCAL MARKET CONDITIONS

Corporate Base Fredericksburg City & Spotsylvania County Companies The breadth and characteristics of the inventory of With More Than 100 Employees companies within a particular market can provide an Alorica Inc OS Restaurant Services indication of the general potential for corporate meeting Best Buy PAE Shared Services LLC activity. Often, the major employers and industries in a local BJS Wholesale PMC Services LLC Care Advantage Publix market are an important indicator of the relative strength of a Carmax Quarles Petroleum given community’s economy. Indirectly, the size of a local Carriage Hill Health & Rehabilitation Radley Honda corporate base also tends to be correlated with the level and City of Fredericksburg Rappahannock Area Community Srvcs. breadth of supporting community amenities (i.e., hotels, Compass Counseling Services Rappahannock Electric Co-Op Costco Rappahannock Regional Jail restaurants, transportation infrastructure, etc.), which are County of Spotsylvania Red Lobster relevant when considering non-local events. Listed in the CVS Pharmacy Rehab Hospital of Fredericksburg exhibit to the right are some of the largest employers in the EF Thompason Inc. Safford Motors Dodge Fredericksburg and Spotsylvania County area. Family Preservation Services Simmons Bedding Company Favor TechConsulting LLC Spotsylvania County School Board Fredericksburg City Public Schools Taco Bell Germanna Community College Target Spotsylvania Fredericksburg Giant Food Texas Roadhouse County City Virginia Global Dimensions LLC Trussway 0 to 4 employees 1,959 886 184,986 HCA Virginia Health System United States Postal Service 5 to 9 employees 484 300 39,394 Home Depot University of Mary Washington 10 to 19 employees 351 252 28,395 Intelware Systems Inc. UPS 20 to 49 employees 266 161 20,408 Iomaxis LLC VCS Pharmacy 50 to 99 employees 72 51 6,933 Kaeser Compressors Virginia Construction 100 to 249 employees 35 17 3,571 Lowes Wal Mart 250 to 499 employees 7 0 1,091 Mary Washington Hospital WaWa 500 to 999 employees 0 0 357 Matern Staffing Inc. Wegmans Store 1,000 and over employees 0 0 244 McDonald's Weis Markets Total Employers 3,174 1,667 285,379 Source: Virginia Employment Commission, 2021.

Hotel Inventory

The chart and map below summarize the key lodging facilities located nearby the Fredericksburg site. There are 1,090 hotel rooms in the Fredericksburg/Spotsylvania County market. Most of the hotels in Fredericksburg and Spotsylvania County represent mid-scale to upper mid-scale hotel properties. The majority of the market’s hotel inventory is located along I-95, especially at its intersection with Virginia Route 3, which is approximately two and a half miles from Fredericksburg’s downtown, and the UMW’s campus.

Room Key Name City, State Count 1 Clarion Hotel & Suites Convention Center Fredericksburg 192 2 Hilton Garden Inn Fredericksburg Fredericksburg 148 3 Holiday Inn & Conference Center Fredericksburg 132 13 4 Holiday Inn Express Fredericksburg Southpoint Fredericksburg 125 6 15 5 Homewood Suites by Hilton Fredericksburg 122 6 Woodspring Suites Quantico Stafford 122 9 7 Hampton Inn and Suites Fredericksburg South Fredericksburg 121 11 8 5 14 8 Woodspring Suites Fredericksburg Fredericksburg 121 10 2 12 9 Days Inn Fredericksburg North Fredericksburg 120 3 10 Holiday Inn Express & Suites Fredericksburg Fredericksburg 120 7 11 Country Inn & Suites Fredericksburg 119 1 12 Motel 6 Fredericksburg - North Fredericksburg 119 4 13 Best Western Aquia-Quantico Stafford 118 14 Best Western Fredericksburg Fredericksburg 108 15 Home2Suites by Hilton Stafford/Quantico Stafford 100

Note: only hotels offering 100 sleeping rooms or more are shown. Source: Greater Fredericksburg Tourism Partnership, Google maps, 2021.

Natatorium Feasibility Study for the Fredericksburg / Spotsylvania County Regional Area ● Page 17 2 LOCAL MARKET CONDITIONS

Competitive & Local Area Aquatic Facilities

There are presently ten facilities within the Fredericksburg and Spotsylvania County Area that could potentially compete for significant segments of the market for aquatic events. Four of the existing event venues presently have competition pools, that is, have at a pool at least 25 yards in length. Overall, the market’s existing facilities all have certain physical characteristics, size limitations, scheduling priorities, or locations that limit their ability to serve the destination as a “complete” product for potential aquatic event activity.

Distance Pool from Site Key Name City, State Size (in miles)

1 Jeff Rouse Swim & Sports Ctr. Stafford, VA 50m 10.9 2 1 2 Curtis Park Hartwood, VA 50m 11.5

3 Fredericksburg Academy Fredericksburg, VA 25m 4.1 9 4 King George Family YMCA King George, VA 25m 20.6 10 6 5 Gold's Gym Fredericksburg Fredericksburg, VA 25yd 1.7 7 5 3 4 6 Massad Family YMCA Falmouth, VA 25yd 2.6 8

7 American Family Fitness Fredericksburg, VA 25yd 5.9

8 Ron Rosner Family YMCA Fredericksburg, VA 25yd 9.2

9 Dahlgren Aquatic Center Dahlgren, VA 25yd 29.3

10 St. Michael’s High School Fredericksburg, VA 25yd 5.0

Additional detail surrounding some of these local area aquatic facilities is provided below and on the following page.

JEFF ROUSE SWIM & SPORTS CENTER The Jeff Rouse Swim & Sports Center is a natatorium and multisport facility complex located in Stafford, Virginia, approximately 20 minutes from UMW’s main campus. The Center offers a 50-meter competition pool with space for 800 spectators, a 25-yard recreational pool, and a warm-water wellness pool. The Center also integrates a group exercise studio, a fitness floor, a full-size basketball court, and an on-site café. The Center offers cycling/spin, group exercise, and swim classes, as well as in-house youth and adult rec leagues for volleyball, basketball and soccer. A more detailed case study is provided in the subsequent chapter of this report.

KING GEORGE FAMILY YMCA The King George Family YMCA, opened in 2008, is located in King George, Virginia, and serves the Rappahannock area, which is located 30 minutes from University of Mary Washington. The pool they have is 25 meters in length, and is used for free swims, swim classes, aquatic therapy, and competitive swim teams. In addition to its swim facilities, it has a gymnasium, a fitness center, group fitness classes, spin classes, youth classrooms, a playground, and locker rooms.

Natatorium Feasibility Study for the Fredericksburg / Spotsylvania County Regional Area ● Page 18 2 LOCAL MARKET CONDITIONS

GOLD’S GYM FREDERICKSBURG Gold’s Gym Fredericksburg is a multi-faceted fitness facility located on the southern edge of Fredericksburg, just seven minutes from University of Mary Washington’s campus. The facility has a number of amenities in addition to its 25-yard swimming pool including: health clubs, group classes, a basketball court, a kids club, a yoga studio, a smoothie bar, and more.

MASSAD FAMILY YMCA The Massad Family YMCA, opened in 1982 at the behest of Dr. Louis B. Massad. The facility has two 25-meter pools, family locker rooms, and a multi-purpose room for aerobics, youth programs, and weight training, an outdoor waterpark, basketball and volleyball, indoor tennis, and much more. As a result, the facility hosts swim classes and competitive swimming, in addition to its myriad indoor sports offered like basketball, volleyball, tennis, and more.

AMERICAN FAMILY FITNESS Located in southern Fredericksburg, American Family Fitness is just thirteen minutes away from University of Mary Washington’s Campus. The facility features three indoor pools that accommodate free swimming, swimming lessons, aquatic exercise classes, and a splash pad. In addition to its aquatic offerings, American Family Fitness features group classes, childcare, 1-on-1 training classes, yoga studios, and more.

RON ROSNER FAMILY YMCA Opened in 2003, the Ron Rosner Family YMCA, located in south Fredericksburg, Virginia, is part of the Rappahannock area YMCA. The facility is just twenty minutes from the University of Mary Washington’s campus. The facility is fully outfitted with a gym, pool, group fitness studio, spin room, youth classrooms, a nursery, and more.

DAHLGREN AQUATIC CENTER Dahlgren Aquatic Center is located in the unincorporated community in Eastern Virginia called Dahlgren. The indoor aquatic center is located about 40 minutes from the University of Mary Washington’s campus. The facility has an indoor 25-yard pool that is open year- round. The Aquatic Center offers lap swims, open swims, and swimming lessons. In addition, the facility rents out the pool to private parties for rent.

ST. MICHAEL HIGH SCHOOL St. Michael the Archangel Catholic High School is a private high school located in Fredericksburg, Virginia. The school, while relatively small, has a swimming facility located on the same campus as the high school. At the 25-yard pool swimming facility, in addition to St. Michael’s teams, there are also swimming lessons.

Natatorium Feasibility Study for the Fredericksburg / Spotsylvania County Regional Area ● Page 19 COMPARABLE FACILITIES

3 3 COMPARABLE FACILITIES

Overview of Comparable Facilities

This chapter provides information on the various physical characteristics and resources of comparable indoor natatoriums and their respective communities. The data helps place a potential new Fredericksburg/Spotsylvania County facility within a competitive and comparable market context with respect to facility offerings, demographics and other related destination features. A set of comparable facilities throughout the region and country were identified and analyzed to obtain insight into the physical and operational characteristics of facilities located in competitive and comparable communities.

An assessment of the physical and operational characteristics of comparable aquatic facilities is a critical component in assessing the market potential 20 of a potential new natatorium in Fredericksburg / 13 Spotsylvania County. Comparable facilities were 16 identified based on discussions with project 17 representatives, swim meet organizers and our 5 knowledge of the industry. The analysis of similar 19 2,3,4,7, aquatic facilities provides general informational 1 6 10,11,12, background and a programmatic perspective from 14 8 15,18 which to assess possible use activity at a potential new Natatorium serving the Fredericksburg / Spotsylvania County area.

We have identified 20 comparable facilities, nine of 9 which are located in the mid-Atlantic region. The exhibit below summarizes the comparable facilities and markets evaluated.

Pool Programming Dive Programming # # Therapy / 50M # Additional 1M 3M 1M 3M 5M 7.5M 10M Analysis Key Aquatic Center Location Pool Lanes Pool Spring Spring Platform Platform Platform Platform Platform Pool 1 Capitol Federal Natatorium Topeka, KS Yes 10 Yes 0 0 No No No No No No 2 Christiansburg Aquatic Center Christiansburg, VA Yes 8 Yes 2 2 No No Yes Yes Yes Yes 3 George Mason Aquatic and Fitness Center Fairfax County, VA Yes 10 Yes 1 2 Yes Yes Yes Yes Yes Yes 4 Greensboro Aquatic Complex Greensboro, NC Yes 8 Yes 2 2 No No Yes Yes Yes No 5 Holland Community Aquatic Center Holland, MI Yes 8 Yes 2 2 No No No No No Yes 6 Indiana University Natatorium Indianapolis, IN Yes 8 Yes 4 4 Yes Yes Yes Yes Yes No 7 Jeff Rouse Swim and Sport Center Stafford, VA Yes 8 Yes 2 0 Yes No No No No Yes 8 Lawrence Aquatic Center Lawrence, KS Yes 10 Yes 2 1 No No No No No No 9 Lee and Joe Jamail Texas Swimming Center Austin, TX Yes 8 No 4 6 Yes Yes Yes Yes Yes No 10 Liberty University Natatorium Lynchburg, VA Yes 10 Yes 0 1 Yes Yes Yes Yes Yes Yes 11 Mecklenburg County Aquatic Center Charlotte, NC Yes 8 Yes 1 1 No No No No No No 12 Micahel P. O'Brien Athletics & Recreation Center St. Mary's City, MD Yes 8 Yes 1 1 No No No No No No 13 Osborn Aquatic Center Corvallis, OR Yes 8 Yes 1 1 No No No No No Yes 14 St. Peters Rec-Plex Aquatic Operations St. Peters, MO Yes 6 Yes 1 1 Yes Yes Yes Yes Yes No 15 Aquatic Ctr & Track Complex at Mylan Park Cassville, WV Yes 8 Yes 3 3 Yes Yes Yes Yes Yes No 16 Tualatin Hills Aquatic Center Beaverton, OR Yes 10 No 2 2 Yes Yes Yes Yes Yes No 17 University of Minnesota Aquatic Center Minneapolis, MN Yes 8 Yes 2 2 Yes Yes Yes Yes Yes No 18 UVA Aquatic and Fitness Center Charlottesville, VA Yes 8 Yes 2 2 No No Yes No No Yes 19 Valparaiso Aquatic Center Valparaiso, IN Yes 10 No 2 1 No No No No No No 20 Weyerhaeuser King County Aquatic Center Federal Way, WA Yes 8 Yes 2 2 Yes Yes Yes Yes Yes No

Average 9 2 2 Median 8 2 2 Source: CSL research, interviews with facility management, facility websites, Google maps, 2021.

Natatorium Feasibility Study for the Fredericksburg / Spotsylvania County Regional Area ● Page 21 3 COMPARABLE FACILITIES

Population Demographic Comparison Market 15-min 30-min 60-min 180-min Austin, TX 551,901 1,642,308 2,490,081 16,184,833 Demographic information was assembled for each of the Minneapolis, MN 530,957 2,293,693 3,616,933 6,412,072 comparable facility markets. The data helps place a potential Beaverton, OR 362,982 1,092,753 2,641,186 5,619,612 Charlotte, NC 353,209 1,364,493 2,756,900 13,509,746 new Fredericksburg/Spotsylvania County Natatorium within a Indianapolis, IN 331,373 1,316,414 2,292,441 16,794,103 competitive and comparable market context with respect to Fairfax County, VA 304,930 1,589,755 5,201,624 5,201,624 facility offerings, demographics and other related destination Greensboro, NC 261,759 805,346 2,099,120 12,827,543 St. Peters, MO 250,863 1,036,865 2,612,513 6,319,076 features. Federal Way, WA 198,517 1,148,011 3,528,323 8,153,341 Topeka, KS 154,424 239,264 903,315 6,040,007 The level of population from which facilities will draw Holland, MI 118,740 309,694 1,417,859 18,096,508 Lynchburg, VA 109,359 199,380 402,536 9,165,696 participants, both short-term and long-term, impacts the Fredericksburg, VA 101,139 247,228 1,499,464 15,076,363 utilization of natatorium facilities. As shown in the exhibit to the Charlottesville, VA 99,152 193,414 556,110 12,745,954 right, the Fredericksburg/Spotsylvania County area population Lawrence, KS 87,596 217,724 1,950,648 5,245,076 ranks below the midpoint of comparable facility markets for Christiansburg, VA 83,621 148,609 490,874 8,189,981 Corvallis, OR 72,542 183,552 920,867 4,260,301 population measurements up to a 60-minute drive, but higher Cassville, WV 71,479 153,836 534,705 8,002,505 than the average when considering population within 180 Stafford, VA 69,920 424,182 2,395,380 15,710,834 minutes. Valparaiso, IN 66,684 250,895 1,581,522 19,655,189 St. Mary's City, MD 23,822 67,607 217,377 11,970,475 AVERAGE 205,192 733,890 1,930,516 10,505,224 As mentioned in the previous chapter, household income is Rank (out of 21) 13 13 13 6 another important socioeconomic characteristic of host markets that typically impacts natatorium performance. Income Average Household Income levels can serve as an indication of area households’ ability to support swimming, other team sports, and recreation in the Market 15-min 30-min 60-min 180-min Fairfax County, VA $165,493 $156,753 $145,029 $145,029 region by paying league and registration fees and other costs Stafford, VA $140,974 $121,319 $141,333 $111,679 associated with participation. The affluence of area households Beaverton, OR $117,287 $115,701 $101,563 $93,590 can also impact the types of programming that will be most Fredericksburg, VA $110,836 $109,598 $109,071 $112,287 Federal Way, WA $103,066 $96,926 $121,221 $108,707 successful at natatorium. As shown in the exhibit, the St. Peters, MO $96,320 $98,584 $90,920 $77,981 Fredericksburg/Spotsylvania County area ranks above Charlottesville, VA $94,590 $100,703 $85,522 $109,615 comparable facility market averages in terms of average Austin, TX $93,811 $107,851 $106,552 $89,394 St. Mary's City, MD $89,842 $112,642 $120,485 $122,178 household income measurements. Minneapolis, MN $88,377 $102,748 $107,325 $93,345 Charlotte, NC $87,938 $97,771 $90,291 $77,613 The regional corporate base (number of companies) also can Valparaiso, IN $86,687 $83,238 $69,933 $88,815 Holland, MI $84,585 $87,671 $82,362 $86,790 play an important role in the success of natatoriums and other Corvallis, OR $83,895 $78,877 $75,477 $92,846 sports facilities. Corporate sponsorships and donations are Lawrence, KS $76,645 $72,136 $88,593 $79,006 potential sources of capital funding and operating income for Greensboro, NC $71,322 $74,032 $74,571 $76,989 Topeka, KS $70,487 $77,099 $78,901 $80,484 natatoriums and other amateur sports and recreation facilities. Cassville, WV $68,056 $71,796 $69,414 $76,069 The majority of corporate sponsorship opportunities in Christiansburg, VA $66,046 $68,622 $71,653 $73,930 comparable natatoriums are often in the form of sponsorships, Lynchburg, VA $59,620 $67,459 $66,943 $86,302 banners, scoreboard advertising and other such opportunities; Indianapolis, IN $54,016 $76,915 $82,834 $77,954 AVERAGE $89,953 $93,442 $93,546 $92,416 many of which would be relatively inexpensive. As a result, a Rank (out of 21) 4 5 5 3 significant portion of companies within a host market have the opportunity to participate in advertising and sponsorship opportunities at local sports and recreation facilities. As shown Number of Companies in the exhibit, in terms of number of companies, the Market 15-min 30-min 60-min 180-min Austin, TX 32,909 63,902 87,405 539,775 Fredericksburg/Spotsylvania County area ranks similarly with Minneapolis, MN 25,562 84,500 118,964 232,082 the identified comparable facility markets in terms of its ranking Charlotte, NC 21,605 56,056 97,748 445,456 with population. Indianapolis, IN 13,652 47,670 75,051 535,192 Greensboro, NC 13,255 30,384 73,553 429,350 Beaverton, OR 10,832 49,649 98,248 190,115 Fairfax County, VA 9,309 57,123 183,520 183,520 St. Peters, MO 7,733 34,762 84,160 215,821 Topeka, KS 6,932 9,702 32,914 216,915 Federal Way, WA 5,725 36,813 118,935 276,011 Charlottesville, VA 5,549 8,374 20,158 422,928 Holland, MI 4,480 10,418 46,635 590,003 Lynchburg, VA 4,304 6,977 13,133 302,509 Lawrence, KS 3,397 8,435 71,112 186,076 Cassville, WV 3,227 5,625 18,777 270,483 Fredericksburg, VA 2,978 7,661 46,973 509,020 Christiansburg, VA 2,812 4,777 17,027 274,760 Valparaiso, IN 2,785 8,961 44,258 640,645 Corvallis, OR 2,727 6,198 31,013 154,725 Stafford, VA 1,636 11,798 81,791 529,955 St. Mary's City, MD 545 2,129 6,052 411,424 AVERAGE 8,949 27,213 66,023 352,387 Rank (out of 21) 16 16 12 6

Source: Esri, 2021.

Natatorium Feasibility Study for the Fredericksburg / Spotsylvania County Regional Area ● Page 22 3 COMPARABLE FACILITIES

Case Studies

Certain inferences can be made by reviewing comparable natatorium and aquatic facilities operating elsewhere throughout the United States. Provided below and on the following pages, four (4) detailed case studies of comparable aquatic centers were developed that provide useful information and insight relative to a new Natatorium in Fredericksburg/Spotsylvania County concerning physical design/program, ownership/management/governance structures, funding, utilization, financial performance, and operating best practices.

JEFF ROUSE SWIM & SPORT CENTER A Stafford, Virginia

Located in Stafford, Virginia, the Jeff Rouse Swim & Sport Center is a natatorium and recreation complex that opened in June 2016. The 76,000- square foot Center has three pools, a 50-meter competition pool with movable bulkhead, a 25-yard recreation pool, a warm-water wellness pool, a group exercise studio, fitness floor, full-sized basketball court, and a full-service café. The Rouse Center and six adjacent athletic fields (four synthetic turf and two natural grass) comprise a 50-acre, $26 million recreational complex. The Rouse Center is owned by Stafford County and operated by Eastern Sports Management (ESM) under a 20-year lease agreement.

The Rouse Center’s competition pool is 50 meters x 25 yards. The competition pool has 8 tiled lanes of 50 meters (or 22 tiled lanes of 25 yards each). Water is kept around 80 degrees for optimal lap swimming. The competition pool goes from a depth of 6’7” to 12’6” and has two 1-meter diving boards at the deep end. The recreation pool is 6 lanes of 25-yards as well as a zero-depth entry to a kids’ area with a mushroom and water features. Recreation pool water is heated to 84°. Lap swimming, water fitness classes, family swim activities and more are held in the recreation pool. The wellness pool is heated to 88°. It has ramp access and goes from a depth of 2’6” to 4’6”. There is bench area with jets. During open swim times, the wellness pool is for ages 18+. Seating on one side within the main pool area accommodates up to 837 spectators and 250 competitors, with a total capacity of 2,440 people.

The Rouse Center is a highly-utilized facility, hosting a number of tenants and in-house programs, long- and short-course swim meets, swim classes, recreation, and wellness programming. Six swim teams regularly utilize the Center, including four from local high schools. Pre-pandemic, the Rouse Center annually hosted approximately 25 local and regional swim meets and maintained a membership of approximately 5,600. In a typical pre-pandemic period, the Center (all facilities, including outdoor fields) generated approximately $400,000 in annual net income, through approximately $3.5 million in revenues and $3.1 million in expenses.

The Rouse Center was developed as a result of interest for increased Parks and Recreation amenities in Stafford, combined with an opportunity to generate increased revenue from sports tourism. In 2013, the Board passed R13-140 which directed staff to design the Embrey Mill Indoor Recreation Facility, later named the Rouse Center. Financing of the project came from a variety of sources. $2.5M came from Parks Revenue Bonds resulting from the 2009 Parks Bond Referendum. $9.4M was funded through a combination of proffers, capital projects reserves, and lease revenue bonds. Lease revenue bonds were issued through the Virginia Resources Authority (VRA), providing $8M in debt funding for the project.

Natatorium Feasibility Study for the Fredericksburg / Spotsylvania County Regional Area ● Page 23 3 COMPARABLE FACILITIES

Christiansburg Aquatic Center B Christiansburg, Virginia

The Christiansburg Aquatic Center in Christiansburg, Virginia opened in July 2010 at a cost of $19 million and a size of 64,000 square feet. The facility is a public, private partnership between Virginia Tech and the City of Christiansburg. The University agreed to twenty annual installments of $250,000, for a total of $5 million.

The Aquatic Facility in Christiansburg encompasses a 50-meter pool; 10-meter diving platform; 1- and 3-meter springboards, two wet classrooms, beach entry leisure pool with a two-story water slide and a small alligator slide; warm water therapy pool; outdoor sundeck; multi-purpose rooms; fitness room; administrative offices, and seating for 1,000 spectators.

The Christiansburg High School Swim Team and H2Okie Aquatics (USA Swimming Club Team) use the facility as their home venue. The Aquatic Center has been used for a variety of youth lessons, adult classes, lifeguard/CPR training classes and special events including seasonal camps and holiday/birthday parties. In 2018-2019, the facility hosted a total of 5,762 participants in these events. The Christiansburg Aquatic Center also hosted 8 to 10 meets including the Virginia Swimming Summer Awards, USA Swimming Sectionals, Colonial Athletic Association Championship, the Virginia High School Swim League State Meets, and other major events.

The facility was funded as a public-private partnership (P3) between the City of Christiansburg and Virginia Tech University. Of the total $19 million, Virginia Tech paid $5.0 million, and the City of Christiansburg paid $13.2 million, through two separate bonds through VML/VACo Finance Corporation. In 2019, the facility generated approximately $800,000 in revenue, which included $60,000 from facility rentals, $85,000 from aquatic fees, $250,000 from Virginia Tech Contributions, $4,000 from food concessions, $6,500 from retail sales, $135,000 from program revenue, $170,000 from competitive fees and $90,000 from daily admissions fees.

In 2019, the facility had $1.95 million in Total Aquatic Administration Operations & Maintenance Expenses and total revenues were $805,000, resulting in an operating loss of $1.145 million. Salaries, wages, utilities, maintenance, chemicals and service contracts were all major expenditures for the facility.

Natatorium Feasibility Study for the Fredericksburg / Spotsylvania County Regional Area ● Page 24 3 COMPARABLE FACILITIES

Liberty University Natatorium C Lynchburg, Virginia

Located in Lynchburg, Virginia, the Liberty University Natatorium opened in December 2017. The 75,000-square foot facility is owned and operated by the University of Liberty. Construction costs of $20 million were paid by the University.

The Natatorium includes a 50-meter pool with a movable bulkhead, a 17-foot diving well, 1- and 3-meter springboards and a three-column tower (featuring 1-, 3-, 5-, 7.5- and 10-meter platforms. A surface agitator and a sparger system under all three tower columns ensures diver safety while training.

The Natatorium shares a 6,554-square foot weight room and 2,400-square foot training room that includes a 1,000-square foot hydro room with an underwater treadmill and two plunge pools kept at 57 degrees. The facility has a capacity of 1,414 and holds 900 permanent seats. Other features include a 12.5-foot by 41.5-foot swimming video board, a secondary 6-foot by 10-foot diving scoreboard, 21-foot decks, a 720-square foot athletic training room, varsity locker rooms, a 1,600-square foot wet classroom and an Elite Model Endless Pool.

The Liberty University Natatorium is a highly utilized facility that is equipped to host regional, state and national meets for high school, collegiate, YMCA and USA Swimming Programs, as well as offer training programs for professional athletes. The Natatorium is home to the Liberty Swim Teams, Liberty Dive Teams, University of Lynchburg Swim Team, Lynchburg YMCA, Liberty Dive Academy, Liberty Scuba Club and Hampton Sydney Swim Team. The facility offers swimming lessons, training, lifeguard courses, water aerobics classes and special holiday swim events. The Facility hosted 336 practices, 11 swim meets, and 144 recreational swim times in 2018. During this time roughly 19,000 users used the facility. Expected use for 2021 includes 25 to 30 swim meets and 32 practices a week.

The Liberty Natatorium has an operating budget of $45,500, which does not include any staffing costs. The breakdown is as follows: General supplies, $21,000; maintenance supplies, $4,000; maintenance services, $7,000; maintenance contracts, $12,000; medical supplies, $500; certification and license, $1,000.

Natatorium Feasibility Study for the Fredericksburg / Spotsylvania County Regional Area ● Page 25 3 COMPARABLE FACILITIES

Mecklenburg County Aquatic Center D Charlotte, North Carolina

Located in the heart of Charlotte, North Carolina, the Mecklenburg County Aquatic Center opened in 1991 and was the first 50-meter pool in the area. In 2016, the complex underwent an $8.6 million renovation. The facility encompasses 44,000 square feet and holds 775,000 gallons of water. The Mecklenburg County Aquatic Facility is owned and operated by Mecklenburg County.

The Mecklenburg County Aquatic Center includes a 50-meter pool with 10 lanes, an additional 25-meter training pool, 13-foot-deep diving well and both a 1-meter and 3-meter springboard. The facility also includes an adult-only spa, concessions, locker rooms and a full-circuit fitness center.

The facility is home to several swimming teams including: SwimMAC, New South Swimming, Team Charlotte, Aquatic Team of Mecklenburg and the Queen City Dolphins. The facility hosted 49 meets from 2019/2020, including the North Carolina Senior Championships and High School Regionals. The Aquatic Center held host to 29,245 total program participants and 60,457 total swim meet spectators.

In 2018, the Mecklenburg County Aquatic Facility had total revenues of $820,000 and total expenses of $1.19 million, totaling a loss of $370,000 for the year. Roughly, revenue only covered the salary expense for the facility. Major components of revenue included: fees and charges, $157,000; annual passes, $314,000; daily admissions, $67,000; Rental of the space, $221,000. Factors figuring into expenses and a net operating loss included salaries, $716,000; Utilities, $330,000; Maintenance, $228,000; Insurance $137,000; FICA Tax, $70,000; and program supplies, $28,000. The Facility operates at an annual cost of $28.13 per square foot.

Natatorium Feasibility Study for the Fredericksburg / Spotsylvania County Regional Area ● Page 26 INDUSTRY TRENDS

4 4 INDUSTRY TRENDS

The economy of any destination can be influenced by many factors outside the control of community leaders. Economic conditions, corporate relocations, changes in governmental or institutional presence and other factors will influence employment, income, tax revenues and other critical aspects of an economy.

In Fredericksburg/Spotsylvania County, as with many communities, the visitor industry also plays an important role in local and regional economic health. Visitors to a market offer an opportunity to inject new dollars into the economy, with relatively limited use of public infrastructure. Visitor spending then generates net new tax revenue, reducing the tax burden on residents.

At the same time, the competition for visitor industry market share is fierce. Communities throughout the country, many competing with Fredericksburg/Spotsylvania County continue to invest in assets and amenities that are designed in part to attract visitors. Much of this investment involves sports tourism facilities.

The market success of sports tourism facility products can be partially attributed to broader industry characteristics and trends. In order to assess the current and future strength of the market with regard to sports tourism activity that could utilize potential new sports facility products in Fredericksburg/Spotsylvania County, it is important to evaluate prominent and emerging trends from a national perspective.

Sports tourism is one of the fastest growing sectors of tourism. An increasing number of communities throughout the country are investing in the development and operation of large, multi-sport amateur sports complexes for the purpose of driving new sports tourism, as well as better accommodating local sports and recreation demand. An increase in the number of travel sports programs and participation has been matched by the recognition by many communities of the oftentimes high return-on-investment modern sports complexes can have in host destinations in terms of driving visitation, hotel room nights, and economic impact.

A summary overview of sports participation trends in the United States and the East Coast region has been assembled. An understanding of these trends at a national, regional and local level provides a framework from which to begin to assess potential demand for a new Natatorium in the Fredericksburg/Spotsylvania County area.

The statistical data presented in this section was derived from the National Sporting Goods Association’s Sports Participation study, which was most recently conducted in 2018. The study measures the annual number of participants in a variety of sports and recreational activities, and the frequency of participation during the previous calendar year. Research is derived from a study based on approximately 40,000 interviews encompassing youth and adult sports participation.

Additionally, we have analyzed data from the National Recreation and Park Association 2018 Agency Performance Review, which presents data and insights from over 1,000 park and recreation agencies, including metrics on facilities per resident, budgets, staffing and more.

The following pages provide information on sports participation and facility product trends relevant to potential new natatorium development in the Fredericksburg/Spotsylvania County Regional Area.

Natatorium Feasibility Study for the Fredericksburg / Spotsylvania County Regional Area ● Page 28 4 INDUSTRY TRENDS

Although it is anticipated that the majority of National Participation Levels - programming at a new Natatorium in the Indoor Sports (in millions) Fredericksburg/Spotsylvania County area would be dedicated to local swimmers, it is important to Frequent Oc casional Infrequent understand the overall rates on a national level. National participation levels can provide insights into Swimming 3.3 19.4 25.2 47.9 the overall popularity of a sport or athletic activity, as well as the size of the base from which to attract new

frequent participants. The exhibit to the top right Basketball 4.7 10.6 9.3 24.6 presents a summary of the national participation rates of indoor sports, broken out by participation level (i.e., frequent, infrequent and occasional). Volleyball 3.4 3.8 3.3 10.5

Swimming and basketball have the highest participation levels for indoor sports with a high Gymn astic s 2.1 6.0 amount of infrequent and occasional participants, and a relatively normal number of frequent participants. This suggests that natatoriums and aquatic centers Cheerleading 3.5 are used frequently for a multitude of reasons throughout the year. Investing in more of these facilities benefits many communities across the Hockey (Ice) 3.3 nation. Although swimming far exceeds basketball in total participation, basketball exceeds swimming’s frequent user base, suggesting that basketball is a Wrestling 3.2 year-round sport with many opportunities for facilities to host tournaments and other team events.

Source: National Sporting Goods Association’s Sports Participation Study . The exhibit to the bottom right summarizes sports participation levels by age group for indoor sports. A natatorium in the Fredericksburg/Spotsylvania County area would be anticipated to be utilized by a variety of National Participation Levels by Age – age groups, and it is important to understand which Indoor Sports sports and athletic activities appeal to each age group in order to consider appropriate programming. 7- 11 12-17 18-24 25-34 35-44 45-54 55-64 65-74 75+

The largest user groups in almost every sport are ages 7 to 11 and ages 12 to 17. Youth sports dominate the Basketball 15% 21% 16% 19% 15% national participation levels; therefore, facility management can plan on having most of its programming originating from youth sports and Cheerleading 33% 35% 13% 12% 4% athletics. Swimming has the largest variety of age groups participating. Ice Hockey 15% 18% 14% 24% 13% 9%

Gymn astic s 37% 20% 10% 15% 8%

Swimming 13% 13% 9% 12% 14% 14% 13% 10%

Volleyball 14% 26% 15% 20% 13% 8%

Wrestling 17% 28% 18% 21% 9% 7%

Source: National Sporting Goods Association’s Sports Participation Study .

Natatorium Feasibility Study for the Fredericksburg / Spotsylvania County Regional Area ● Page 29 4 INDUSTRY TRENDS

This exhibit to the right summarizes the frequent participation rates Adjusted nationally and regionally for each sport indicated. The rate of National South participation includes only frequent users and does not account for Frequent Frequent South Atlantic Participation Participation Atlantic Participation occasional and infrequent users. Swimming, volleyball, gymnastics, (times annually) Rate Index Rate cheerleading and wrestling all have higher participation rates Indoor Sports: regionally than nationally among indoor sports participants, while Swimming 110+ 1.10% 118 1.30% outdoor sports such as soccer, tackle football, flag football and Basketball 50+ 1.60% 97 1.55% lacrosse have higher participation rates regionally than nationally. Volleyball 20+ 1.16% 108 1.25% Gymnastics 40+ 0.58% 102 0.59% The following exhibit summarizes the estimated population base Cheerleading 70+ 0.25% 151 0.37% participating in each identified sport based on participation rates Wrestling 50+ 0.15% 121 0.18% applied to the overall market population. Again, the rate of Ice Hockey 30+ 0.27% 63 0.17% participation includes only frequent users and does not account for Outdoor Sports: occasional and infrequent users. The Fredericksburg/Spotsylvania Soccer 40+ 1.33% 109 1.45% County area would have between approximately 180 and 190 Baseball 50+ 0.87% 77 0.67% frequent participants across all sports based on national and regional Softball 40+ 0.54% 94 0.50% participation rates, respectively. Frequent participants within a 30- Touch Football 50+ 0.19% 103 0.19% minute drive of Fredericksburg/Spotsylvania County would average Tackle Football 50+ 0.70% 111 0.78% Flag Football 50+ 0.11% 111 0.12% between an estimated 1,500 and 1,600 participants per sport, while a Lacrosse 60+ 0.13% 122 0.15% 180-minute drive radius would yield between an estimated 9,600 and

10,000 frequent participants per sport, based on national and Source: National Sporting Goods Association’s Sports Participation Study . regional rates, respectively.

Hypothetical Population-Based Extrapolation of Estimated Frequent Participation by Sport

Fredericksburg, Spotsylvania 15-minute 30-minute 60-minute 180-minute Virginia County Drive Time Drive Time Drive Time Drive Time

Market Population: 28,698 139,511 100,534 249,394 1,500,830 15,076,363 National Regional National Regional National Regional National Regional National Regional National Regional Rate Rate Rate Rate Rate Rate Rate Rate Rate Rate Rate Rate Swimming 317 374 1,540 1,817 1,110 1,309 2,752 3,248 16,563 19,545 166,386 196,335 Basketball 459 445 2,233 2,166 1,609 1,561 3,991 3,871 24,018 23,298 241,272 234,034 Volleyball 333 359 1,618 1,747 1,166 1,259 2,892 3,124 17,407 18,799 174,855 188,844 Gymnastics 165 168 802 819 578 590 1,435 1,463 8,633 8,805 86,720 88,454 Cheerleading 70 106 342 517 247 373 612 924 3,684 5,563 37,009 55,884 Wrestling 43 52 210 254 152 183 376 455 2,262 2,737 22,721 27,493 Soccer 383 417 1,861 2,029 1,341 1,462 3,328 3,627 20,025 21,828 201,163 219,267 Baseball 248 191 1,207 929 870 670 2,157 1,661 12,983 9,997 130,419 100,422 Softball 154 145 749 704 540 507 1,339 1,259 8,059 7,576 80,958 76,100 Touch Football 54 55 260 268 188 193 466 480 2,802 2,886 28,146 28,991 Tackle Football 201 223 975 1,082 703 780 1,743 1,935 10,488 11,642 105,357 116,947 Flag Football 32 36 156 173 112 125 279 309 1,676 1,861 16,840 18,692 Lacrosse 36 44 175 214 126 154 314 383 1,888 2,303 18,962 23,133 Ice Hockey 77 49 377 237 271 171 673 424 4,051 2,552 40,690 25,635

AVERAGE 184 190 893 926 644 667 1,597 1,654 9,610 9,957 96,536 100,017

Note: Population Numbers include ages 7+ Source: National Sporting Goods Association's Sports Participation Survey, Esri.

The National Recreation and Park Association (NRPA) has a long-established recommendation for communities to have one pool per 20,000 residents. Further, NRPA's recommendation establishes a baseline that community swimming pools should accommodate three to five percent of the total population at one time. Based on the current population of Fredericksburg (approximately 30,000) and Spotsylvania County (approximately 140,000), the NRPA’s guidelines would recommend at least five public pools. Based on the anticipated population growth within the next five years, the NRPA would recommend development of at least one additional pool, for a total of six (6) pools in the Fredericksburg and Spotsylvania County area. In recent years, there has been discussion within the industry concerning an updated ratio approximating one pool per 50,000 residents; however, these simplified “rules-of-thumb” ratios do not consider the complexity and uniqueness of user group demand and localized participation rates. As such, a ratio of this nature should be viewed as one of a number of metrics and data points to be considered when evaluating supply and demand issues in individual markets.

Natatorium Feasibility Study for the Fredericksburg / Spotsylvania County Regional Area ● Page 30 4 INDUSTRY TRENDS

The “state-of-the-industry” in terms of the physical product aesthetics and functionality of sports tourism facilities has continued to advance year-over-year in destinations throughout the country. Tournament and competitive meet producers increasingly prefer, and oftentimes demand, modern facilities and complexes with state-of-the-industry playing/training surfaces and areas, equipment, and amenities. Beyond attracting higher numbers of tournaments/meets, teams, athletes/swimmers, visitors and economic impact, modern sports tourism facilities often offer significant advancements in operating efficiencies and enhanced revenue generation opportunities, as compared to previous generations of facilities. The following present some noteworthy trends relative to design and capabilities of modern natatoriums and aquatic centers:

1. POOL DESIGN ELEMENTS: Competition pools should be designed at 50-meters long by 25-yards wide to accommodate both long- and short-course seasons with a minimum water depth of 6’7” (two meters ) at the shallow end and 12’6” at the deep end to accommodate a 3-meter springboard.

2. LANES: 50-meter competition pools should offer eight (8) equally-sized lanes with approximately 18” of open water outside of lanes 1 and 8 (each lane is approximately 8-feet wide). Pools can offer up to 10 lanes; however, this configuration is preferred for training purposes as the increased proximity of swimmers would be expected to increase water turbulence. Short-course set up of a 50m/25yd pool can accommodate 23 @ 7-foot-wide lanes.

3. OVERFLOW AND RECIRCULATION SYSTEM: Water recirculation and overflow system should maintain water level in line with the overflow rim of the pool gutters without creating appreciable water turbulence. Deeper gutters to absorb waves created during a competition increase swimmer speed.

4. WATER TEMPERATURE: Competition pool temperatures are preferably kept at 78 to 80 degrees; however, recreational pools are typically kept warmer at 84 to 88 degrees to accommodate non-athletes and younger/older swimmers that tend to be somewhat less active during their pool use.

5. TECHNOLOGY: Incorporating technology into competition pools has both increased the experience of competitors/spectators at events and provided additional uses and sources of revenue for operators. Some examples include large scoreboards and videoboards to provide results during meets and show movies or programming (e.g., Olympics, high-profile meets, the Super Bowl, etc.) for people in the stands and/or floating in the pool; numerous and well-positioned cameras to livestream meets (this provides opportunities for additional advertising and/or sponsorship revenue); underwater and/or locker room PA systems to allow for better communication of race timing.

Natatorium Feasibility Study for the Fredericksburg / Spotsylvania County Regional Area ● Page 31 MARKET DEMAND & PROGRAM

5 5 MARKET DEMAND & PROGRAM

Overview

In order to provide guidance to UMW, the City of Fredericksburg, Spotsylvania County and other stakeholders, and to project the demand and use characteristics of a potential new Natatorium in Fredericksburg/Spotsylvania County, a variety of techniques were employed. These included, but were not limited to: (1) interviews with local community stakeholders, business leaders, non-profits, schools and potential aquatic facility users; (2) telephone interviews with local area user group candidates and state, regional and national competitive meet organizers; (3) review of industry trends and aquatic facility participation levels; and (4) review of historical utilization levels at comparable facilities.

The purpose of this section is to provide a summary of the research and analysis of market demand and opportunities to guide the evaluation and planning for a potential new Natatorium project in the Fredericksburg/Spotsylvania County area.

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Kickoff Meeting & Stakeholder Interviews

Early in the study process, a kickoff meeting with UMW representatives and the Project Team took place to gather pertinent project data and obtain background information related to the project. Additionally, telephone interviews were subsequently conducted with, and information (including new natatorium requirements and preferences) were collected from key stakeholders, including key elected and appointed leaders with Spotsylvania County and the City of Fredericksburg. Some of the key comments, opinions, and themes that arose during these discussions are outlined below:

• This can't just be a "UMW natatorium", it has to be a win-win-win for City of Fredericksburg, Spotsylvania County, and UMW. • UMW would obviously prefer it to be on-campus, but they really don't have any room and they would be okay with it being off- campus as long as it is relatively nearby. Somewhere else in Fredericksburg is okay. • The Rouse Center is neighboring Stafford County (opened 2016) is “the” model. The key aspect for our study will be to prove that there is enough market demand for another Natatorium in the competitive area. Everybody thinks there is demand for a 2nd natatorium (since the Rouse Center can't accommodate all the groups that want to use it), but our study needs to demonstrate/show the demand evidence. • Current UMW pool is old and small, very substandard. Feels like an old high school pool. 6-lane, 25-yard pool built in the 1960s. Depth does not meet requirements. • New natatorium has been talked about in Fredericksburg/Spotsy County for the past 20 years. It's finally real now, given that money has finally been earmarked. • UMW swim teams (currently) = 30 men, 30 women. Season is mid-September until end of February, Conference Championship end of Feb, Championship end of March. • Spotsylvania County may have funding available for the project. Pool will have to be inclusive to all needs within the County and regional area, including high school meets, recreational uses, and private swim clubs, in addition to UMW swimming. Puts the onus on developing very well-thought-out use agreements and collaborative scheduling. • Goolrick Natatorium (current UMW pool): • Tenants and primary user groups: • UMW Varsity Team. • UMW Club Swim. • UMW Open Rec Hours. • UMW Intramurals. • RAYS. • James Monroe High School. • Stafford Junction. • Fredericksburg Special Olympics. • Local Fire Dept Search & Rescue. • Red Cross Courses. • Typical meets: • UMW Varsity: 5-6 meets per year. • James Monroe: 3-4 meets per year. • VHSL: 1 district meet per year. • Typical lane hours: • UMW Varsity practices/training: 6 lanes at 32 hours 15 minutes a week. • UMW Rec: 15-20 hours of open rec per week, 10 hours sport club practice per week, 20 hours of miscellaneous programming per year. • Projected, definite and tentative future bookings: • Scheduled meets: UMW Dual meets 6 to 7 times a season, Mid season 8- to 12-team invitational weekend before Thanksgiving over 3- to 4-day period, Conference Championship hosting. • Scheduled programming: Campus rec, intramurals, club swim, swim lessons, fire rescue training, red cross training, lifeguard training, dive club, RAYS, STAT, local high schools, club water polo.

Natatorium Feasibility Study for the Fredericksburg / Spotsylvania County Regional Area ● Page 34 5 MARKET DEMAND & PROGRAM

• Proposed New Natatorium: • Expected tenants, key user groups and programming: • RAYS (Rappahannock Area YMCA Stingrays). • Stafford Aquatic Team. • Fredericksburg Christian Academy. • Fredericksburg Academy. • North Stafford High School. • Stafford Senior High School. • James Monroe High School. • US Masters Swimming. • Programming, including SCUBA certifications, Little Fish Swimming/Lessons, VOC/River Rock, Kayak Roll workshops. • Physical facility requirements / preferences: • Competition Pool: • 50M Olympic, 8 x 9’-0” LCM lanes, by 20-25 SCY lanes. • Moveable bulkhead allowing for cross course capability and ability to run 25M, 50M, and 25Y racing in both directions. • 2 @ 1M and 2 @ 3M springboards. • 6’7” to 13’0” depth (to allow for 1M & 3M diving). • Could get by with a minimum of 400 seats, but preferable to be similar to Rouse Center (800 seats). • Deck space similar to Rouse Center. • Warm-up / Therapy Pool: • Not in current plans, but would be useful from a community standpoint, and would allow for community classes and swim lessons for the elderly and very young. • Pool depth: Warm-Up Pool - 3’0” to 5’0”, Therapy Pool - 2’6” to 4’6” (like Rouse Center), including zero depth entry for therapy/leisure pool. • Locker rooms: General campus community locker rooms, and team locker rooms for both men and women, as well as family/gender-neutral spaces. • Training facilities and other typical modern aquatic center amenities, including projector and screen for certifications, movies, awards, etc. and a “wet” classroom and guard office (per UMW Campus Rec). • Schedule & access preferences (day of week, times, lanes, etc.): • UMW Men’s and Women’s Swim Teams: M/W/F morning 5:30am to 8:30am & 3:30pm to 6:00pm and T/TH 6:30am to 9:30am and 3:30pm to 6:30pm, Saturday 7:00am to 10:00am. Any meets would typically run 11:30am to 4:30pm mostly on Saturdays, with the exception of multi-day meets. • UMW Rec: Club swim 4 days per week 7:00pm to 9:00pm, Intramural programming, movies, etc. demand for 20 hours per year. • High schools: Most likely timeframe is early evening/nighttime frame 6:00pm to 9:30pm M-F. Likely schools would be James Monroe High School, Spotsylvania High School, King George High School, Mountain View High School, Fredericksburg Christian High School, Fredericksburg Academy, Chancellor High School, Massaponax High School, Riverbend High School, Courtland High School, St. Michael’s Catholic High School, Colonial Forge High School. • Clubs: Early morning 4:30am to 6:30pm and after school timeframe 2:30pm to 7:30pm and Saturday and Sunday early morning 5:00am to 8:00am. Prominent clubs would be RAYS and STAT. • Lessons and clinics: UMW Campus Rec and UMW Athletics depending on what structure is revenue share/split etc. Campus Rec would love to run these if it had the resources to properly oversee and a revenue sharing agreement was reached that was workable. • Open swimming: For UMW and Fredericksburg and Spotsylvania County populations. UMW Campus Rec would hope to run morning, lunch time, and evening open swim hours most days of the week.

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• Spotsylvania County-related comments: • The Parks & Rec portion of the County’s Comprehensive Plan includes a swimming facility. • Most CLA's and condo complexes have pools, so it hasn’t historically been a big push for the County until recently. • Beyond the Rouse Center, there are not many other good pools in the area. • High schools with swim teams have their own practice facilities. • If a new natatorium would be located on UMW campus, there is a perception that UMW would have scheduling priority and some residents are concerned about how available it would be for other uses. • The County is going to issue a bond referendum in the fall. Some Commissioners had floated the idea of including the natatorium on the ballot. • Youth sports and sports tourism are important factors the County would have interest in, should it participate. • Majority of their hotels and restaurants are along the I-95 corridor, which is where most of the economic impact would be realized. • Would be nice to have some gym space as a part of the natatorium. Rouse Center has some workout facilities and other amenities that appeal to rec users. • There's a YMCA in Stafford and there's a YMCA in Spotsylvania County, but they're always packed. There is definitely a need for more rec facilities. • If it's a joint effort with UMW and City of Fredericksburg, you've got the Fredericksburg destination and the various tourism assets and foundation there. • The County is actually in better shape economically now than it was before COVID. Meals Tax revenues were actually higher during the pandemic; however, TOT (tourism occupancy tax) took a pretty big hit. CARES money (Federal pandemic funds) were applied to some public safety salaries, which freed up money for other things. One of the bond agencies actually raised their rating during the pandemic. • The County would consider a partnership with UMW and/or City of Fredericksburg, or they could do it on their own. They just need one for Spotsylvania County residents, to support UMW and to drive tourism. • UMW would prefer it on their campus, but it would be more difficult for the County to commit to major participation if it was located on UMW’s campus. • There are a number of potential sites and parcels within Spotsylvania County that are already owned/controlled by the County, including some that are near UMW campus and Fredericksburg. • There is a belief that outdoor sports fields (like at the Rouse Center complex) should be a part of a new project. It will be important that the new complex is family-friendly and inclusive of resident needs. • City of Fredericksburg-related comments: • Fredericksburg is only 10 square miles. • Tourism drivers are historical attractions, culinary tourism, conventions/conferences, and sports. Trying to offer a balanced destination product—now pushing culinary tourism, not just history, they also push things as a "region" (not just Fredericksburg). • The Expo & Conference Center (80,000 square feet of exhibit space) is their primary tourism facility generator now. • There are four hotels next to the Expo & Conf Ctr plus a new one that is coming in soon (HGI, Homewood Suites, Hampton, new Silver Hotel Collection, Extended America is coming). The Clarion Hotel (recently rebranded) and is there only full-service hotel property. • As a ”destination”, there are 49 hotels overall in the region (Fredericksburg, Spotsylvania County, Stafford, etc.). A concentration of lodging products is located at Exit 130. • There is a concern with a new natatorium regarding its availability for sports tourism or anything other than UMW. • The City of Fredericksburg is not interested in providing funding support for a non-Fredericksburg located natatorium.

Natatorium Feasibility Study for the Fredericksburg / Spotsylvania County Regional Area ● Page 36 5 MARKET DEMAND & PROGRAM

User Group Interviews

More than 25 local and regional swim teams, leagues, and clubs as well as sports tourism-oriented organizations (i.e., organizers of competitive meets and other competitions that draw significant levels of visitors) were identified as potential users of a new Natatorium. These groups were contacted in order to determine their interest in a new facility and the amenities and elements that would be necessary to host a variety of programming essential to the successful operations of the facility, including practices, meets, recreational programs, and other such uses. Specific groups contacted as part of this process include the following:

• AAA Commonwealth District • Riverbend High School • AAU Swimming • Southern Maryland Aquatics • Battlefield District • Sports Virginia • Capital Water Polo • Spotswood Swim Club • Chancellor High School • Stafford Aquatics Team • Chancellor Swim Club • Stafford High School • Courtland High School • Stat Swimming • Delaney Athletic Conference • Stingrays Swimming • Fredericksburg Academy • Tsunami Swim Team • James Monroe High School • University of Mary Washington • King George High School • USA Swimming • Massaponax High School • Virginia High School League • NOVA Swim • Virginia Swimming • Rappahanock YMCA Master's Swim Team

A detailed list of questions were asked of each interviewee, including topics related to past/current use of regional facilities, facility requirements and preferences, interest in a new aquatics center in Spotsylvania County, preference of the facility’s location (on the UMW campus versus elsewhere within the County), and other similar topics. Interviews were completed with a survey-based technique that provides an understanding of a potential user’s willingness to utilize a new Natatorium, their overall perceptions of the facility as a potential location for their event(s), the physical facility requirements needed to accommodate their needs, and any requirements of the destination and/or community. The goal of this section is to summarize interviews and outreach among potential users to estimate demand for a new Natatorium within the regional market.

A summary of key comments, opinions, and feedback that was obtained from select potential users is summarized below and on the following pages.

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University of Mary Washington Men’s & Women’s Swimming

The University of Mary Washington Men’s and Women’s Swimming program is an NCAA Division III program consisting of approximately 60 total swimmers (30 men and 30 women) that historically has practiced and competed at Goolrick Natatorium’s 6-lane, 25-yard pool. In April 2020, UMW was accepted into the Metropolitan Swimming and Diving Conference, which consists of 14 Men’s and 17 Women’s teams, primarily located in the New York/New Jersey area (UMW, Salisbury University in Salisbury, Maryland and Southern Connecticut State University in New Haven Connecticut are the only programs outside of NY/NJ). Their season runs from mid-September through the end of February, concluding with the conference championships, typically held at Rutgers University in New Jersey.

UMW swimming expressed a need for a 50-meter long by 25-yard-wide pool capable of accommodating eight (8) 9’-wide long- course lanes and between 20 and 25 short course lanes. A moveable bulkhead would allow for cross course capability and the ability to run 50-meter, 25-meter and 25-yard racing in both directions. In order for the pool to compete as one of the “faster” pools, it is important to have a minimum depth of 6’7” and a deep end of 13’ to allow for diving. Two 1-meter and two 3-meter springboards would be sufficient to accommodate the diving needs of the program.

Additionally, the facility should offer seating for at least 600 spectators, a large amount of deck space, a total of four locker rooms (one set of men’s and women’s locker rooms for the general public and one set for the men’s and women’s varsity programs) and athletic training and recovery space.

The UMW swimming program runs from mid-September through the end of February and would utilize a competition pool approximately 30 hours per week for practice. Meets would require approximately five (5) hours on Saturdays for dual meets and all-day Saturday and Sunday for larger invitational meets. Some meets could also require some time on Friday late afternoon/evening.

University of Mary Washington Campus Recreation

The University of Mary Washington Department of Campus Recreation provides programs, resources and educational opportunities to students to participate in a variety of competitive and recreational activities. They offer opportunities with Sport Clubs where participants practice, compete and travel to other schools, as well as with Intramural Sports for on-campus recreation with other UMW students. Clubs are student-run organizations open to all full-time UMW students and are designed to provide recreational, instructional and competitive opportunities for students. They operating using allocations made available by Campus Recreation and are run by students serving in leadership roles.

Intramural sports are designed to offer opportunities to compete against other UMW students in a friendly and structured environment. The cost is $10 for an annual pass that provides access to play unlimited intramural games. Campus Rec offers Men’s, Women’s and Co-Ed divisions for various sports that are typically played as a four- to six-week-long league or one-day tournament.

Currently, Campus Rec is responsible for managing Goolrick Natatorium and would not likely have the capacity or experience necessary to manage a second pool, particularly if the pool is off-campus. The pool’s location would have direct impacts on utilization from UMW students, and an off-campus pool would likely require some form of transportation option to ensure student engagement.

Currently, Campus Rec is utilizing Goolrick Natatorium approximately four to eight hours per week and three to four weeks per semester hosting water polo, recreational and competitive swimming, dive-in-movies and Battleship matches. Additionally, there are open recreation hours available to students, including swimming lessons, lap swim and recreational swimming time.

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Stingrays Swimming

Established in 1979, the Rappahannock Area YMCA Stingrays club consists of 450 members and currently use the Jeff Rouse Center and three YMCA pools to accommodate their programming. The Stingrays are a $1.0 million corporation and utilize pools year-round. The organization hosts meets that can attract between 800 and 1,200 swimmers, on average, in addition to their weekly club practices.

Representatives indicated that plans for a new aquatics center in the area has dated back to 2001 without much success. The current facility is “ancient”, and a new facility would help balance out the area’s offerings and would be fully utilized due to the fact that there are so many high school and club programs that need space for their swim events.

In terms of location, participants indicated they would prefer a new aquatics center be located in Spotsylvania County and not on the UMW campus. This was driven primarily by a lack of parking on campus, proximity to existing hotels in the area, and synergies that could be recognized by placing the pool near existing sports facilities in the area.

The organization would desire a number of amenities or features to host their programming at a new aquatics center, including:

• A minimum of eight lanes are needed in the 50-meter pool if the facility wants to host major meets. However, six lanes would be adequate to accommodate local uses such as learn-to-swim programs and local club practices and minor meets. • Including a warmup pool in the facility design is necessary if the intention is to host major meets. • The depth of the pool should be deep enough to conform with USA Swimming rules. However, representatives did not believe the pool needed to have diving facilities as this type of programming is not as popular in the area and the Jeff Rouse Swim and Sports Center is not fully utilized today. • The pool should have the necessary starting blocks, stop watches, and timing equipment to host major meets. • Space to have coaches and officials on the deck while hosting meets would contribute to a better experience.

The Stingrays indicated they would definitely utilize the new Natatorium for practices, with preference of timing for those sessions between 3:00PM and 8:00PM six days per week all year long to accommodate both the summer and year-round programs they offer. The organization would continue hosting meets at the Jeff Rouse Swim and Sport Center and would utilize the new Natatorium to add an additional meet once every two to three months, or approximately three to four total meets each year. The organization does not currently host camps or clinics as they are limited in terms of pool availability, though they would consider expanding their programming to include these events, if possible, utilizing the new facility. Because they do not program these events currently, representatives were unsure of the number of camps or clinics they could host in the future.

Currently, the organization pays the Jeff Rouse Swim and Sports Center $206,000 each year to host practices, which is $22.00 per hour, per lane during prime times and $16.00 per hour, per lane in non-peak or weekend times. They will pay the YMCA pool $183,000 each year to host practices, which is approximately $16.00 per hour, per lane. At UMW, the organization can rent the entire pool for $110 per hour for practices, if needed, and an outdoor pool in the area charges $21.00 per lane, per hour for practice time. For meets, the organization typically pays $25.00 per hour, per lane for the competition pool and $16.00 per hour, per lane for a warmup pool.

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Tsunami Swim Team

The Tsunami Swim Team is a member of Virginia Swimming and USA Swimming that competes at the local, regional, and national levels. Composed of 100 members, the club hosts two to three practices each week and six meets during the short-course season, which is approximately one per week. Additionally, they participate in a championship meet at the end of the season that features 26 teams within the region.

Representatives indicated that there is a distinct lack of pool space within the region and a definitive need for a new aquatics center. The immediate area has five high schools which causes very limited availability for clubs such as Tsunami Swim Team as the high school programs do not have their own pool facilities and the private pool in the area limits third-party utilization.

In terms of location, representatives indicated that if the new Natatorium was on the UMW campus it would not be a deterrent for utilization. If given the choice between no facility or a facility on campus, then they would easily pick the on-campus facility. However, they did wonder if the hospital nearby in conjunction with existing traffic in that area could handle additional event traffic for larger meets if hosted on campus. Additionally, parking on campus can be tricky without the addition of a new Natatorium.

Representatives indicated a preference for the following facility requirements and amenities:

• They would need eight lanes minimum to host events at the aquatics center for outside entities, though 10 lanes would be ideal. Currently, swimmers in the area have to drive up to an hour in traffic for larger facilities that host major meets. • Representatives did not see a need for any diving facilities as part of the design. However, because the majority of pools within the immediate area do not have many diving boards currently, there could be an untapped market that is not currently being served within the region. • The deck space should be reflective of the number of lanes and the number of participants anticipated to be part of larger meets. • Other amenities that would contribute to a good experience included a good sound system, acoustics that allow parents to hear announcements, good Wi-Fi, scoreboard, and windows for natural lighting at the deck level. • A free, family-friendly amenity such as a playground or greenspace would be good for parents and siblings of participants.

The Tsunami Swim Team indicated they would definitely utilize the new aquatics center for practices, with preference of timing for those sessions between 5:00AM and 10:00AM two or three days a week during the summer season and 6:00AM to 10:00AM as well as 4:00PM to 8:00PM two or three days a week for the year-round team. The organization would definitely host meets at the new facility, with the summer league likely to host the championship team which attracts 26 teams at the site because it is neutral for all the teams involved. Additionally, the organization may host some meets for the year-round team at the new aquatics center (likely between four and six events annually). Representatives indicated that they do not currently host any camps or clinics, and none of their swimmers have been asking for this type of programming. Therefore, they are not likely to utilize the new Natatorium for this purpose.

Currently, the organization pays a private school $6,600 per month in rent for practices for the year-round team, which is approximately $70.00 an hour for the entire pool for 28 hours per week of pool time. The summer season does not require a rental fee for pool usage, but the organization has to pay staff during non-lifeguard duty hours.

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Courtland High School Swim Team

The Courtland High School swim team has 50 total swimmers, roughly evenly split between the girls and boys teams. The program currently utilizes a local YMCA pool located within close proximity of the school for practices and some meets, and shares the pool with two or three other high school swim teams concurrently. Of the five high school programs in the area, three utilize the YMCA facility and two utilize a pool at a private school that needs to be updated to modern standards.

Generally, representatives said that the YMCA is satisfactory for their current needs. They would like to have more time and space at the YMCA pool, as the organization dictates when and how often they can have lanes and books other non-club swimmers concurrent to high school utilization. Representatives believe there is a definite need for a new Natatorium and felt that all five high school programs would be likely to utilize a quality facility.

Facility requirements and preferences to host high school swim team events at a new Natatorium included:

• A design that is a mixture of the Jeff Rouse Swim and Sport Center and Swim RVA was preferred by representatives from the Courtland High School swim team. • If the facility included one-meter diving boards, they believed that this amenity would be utilized as high school programs could begin integrating diving into their programs. • Other building elements that would serve the needs of high school swim teams included a shareable coaches’ room with storage lockers, space for stretching and basic body weight training with a sport-court surface, storage for high school equipment that could be shared among all of the high school programs, and a weight room for dry-land training for the athletes. • Consideration should be given to having moveable bulkheads that can split the 50-meter pool into two smaller pools to maximize utilization by affording programs the ability to have more swimmers in the water at one time concurrently. • The Colorado timing system is most preferred because it is the most accurate for timing meets. • An outdoor green space would be nice to have as parents are often at meets and practices for extended periods of time. • There is a desire to start a water polo recreational league in the area. To host this type of programming, the facility should have storage space for the nets and equipment necessary to accommodate those games.

Representatives indicated that a new Natatorium located on the UMW campus would impact the utilization of the facility for two high school programs due to the proximity of those schools from UMW being farther relative to the distance of those schools from the YMCA pool utilized currently. If the facility is located within Spotsylvania County, all five high schools would definitely program all of their practices at the new pool, but only three would definitely utilize the facility for practices if it is located on the UMW campus. All five high schools would definitely utilize the new Natatorium for meets, regardless of location.

Assuming the new Natatorium has the amenities and facilities needed to accommodate their program, representatives from the Courtland High School swim team would need six lanes minimum for practices which would be hosted for two hours each day Monday through Friday (either 3:00PM to 5:00PM or 4:00PM to 6:00PM would be the preferred times for practices.) They would host six meets total on Saturdays which would need approximately four hours in the afternoon (12:00PM to 4:00PM) throughout their short-course season.

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Fredericksburg Academy

Fredericksburg Academy is an independent, private K-thru-12 school located in Fredericksburg, Virginia. They have a well-known swimming program that is part of USA Swimming and the campus has a pool dedicated to the program that has eight lanes. They indicated that the pool is not big enough for the district championship, but they accommodate conference championship meets on a rotating basis with other facilities within the Commonwealth of Virginia.

Generally, representatives felt that the area pools are currently over-taxed due to high demand. They currently rent the school’s pool to third-party organizations for practices between 5:30AM and 8:30AM each day during the week. Therefore, they believe that there is demand for a new Natatorium in the region.

In terms of location, representatives indicated that the UMW campus would be central in the region. However, it is further away from area high school swim programs, could present ingress and egress issues for major events, lacks parking availability, and would likely be more expensive than a different space within Spotsylvania County.

The organization would desire a number of amenities or features to host their programming at a new Natatorium, including:

• A 50-meter pool with eight lanes would be ideal. The depth of the pool should be similar to other competitive facilities in the area. • In terms of capacity, representatives felt like 800 seats around the competition pool would be more than enough for the events that could be hosted at the facility. • Though representatives felt that the Colorado timing system is ”a pain” and expensive, it is the standard for major meets and is likely necessary for a new Natatorium. • Consideration should be given to including two meeting rooms off of the pool deck for event organizers and coaches to use during meets.

Because the school has their own pool, representatives indicated they would not utilize a new Natatorium for practices or camps and clinics. However, the pool they have is not large enough to host meets. Therefore, they indicated definitive interest in utilizing the new Natatorium for two meets annually, consisting of one larger meet and the conference championship. Representatives expect to rent the entire facility for a half day to host meets, paying one lump sum instead of a per-lane rental rate.

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King George High School Swim Team

King George High School is a public high school for grades 9 through 12 with an estimated enrollment of 1,200 students located in King George County, approximately 25 minutes east of Fredericksburg along Virginia Highway 3. The have partial ownership and swim out of the King George YMCA (KGY) pool, which is an 8-lane, 25-meter pool. Because of their ownership stake and proximity, it is likely that KGHS swimming would continue to use the KGY pool for practices and dual meets; however, dual meets are about the maximum capacity for the KGY. Additionally, the YMCA does not like shutting down access to its pool for members during meets, which limits the total number of meets KGHS Swimming can host, forcing them to try and use the Rouse Center for larger meets.

If a new Natatorium were to open in Fredericksburg/Spotsylvania County, KGHS representatives indicated that they would look to host at least one large invitational meet, preferably in late-December, and additional meets as demand dictates. Additionally, they indicated a potential to get in the rotation for hosting Virginia High School 4A Regional and/or State meets, which are currently held at SwimRVA (Richmond) and Christiansburg Aquatic Center (Blacksburg). Regional meets typically attract 400 to 500 swimmers for a single-day meet, while the state meet is a three-day event with approximately 1,000 participants.

KGHS indicated a desire for a number of amenities in order to maximize the likelihood of hosting invitational, regional and/or state meets, including:

• A 50-meter pool with eight lanes would be ideal. The depth of the pool should be similar to other competitive facilities in the area. • Representatives indicated that the Rouse Center does not offer enough seating to accommodate 4A state meets, which require closer to 1,500 seats. • Large gutters to absorb waves or outside buffer lanes one to two feet wide. • Investment into cameras throughout the pool to provide streaming access provides an opportunity for increased viewership, which potentially could translate into additional sponsorship revenues. • Touch pads and a high-quality scoreboard on the wall.

Additionally, representatives noted that an underwater camera at the finish line and/or a sliding camera to follow the swimmers along the length of the pool would further enhance remote viewing.

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James Monroe High School Swim Team

James Monroe High School is a four-year public high school in Fredericksburg, Virginia with an enrollment of approximately 1,000 students. Their swim team has used the UMW pool for practices and meets with practices starting around 4:00 or 5:00 PM and concluding by 9:00 PM. Team representatives indicated that the limited pool size at UMW has contributed to a maximum of approximately 45 simmers for the co-ed varsity team.

Representatives have indicated that the existing pool inventory lacks in both lane accessibility and overall infrastructure. Specifically:

• Jeff Rouse Center’s pool lacks a sound system and does not offer enough warm-up space. • Liberty University’s pool in Lynchburg) does not have enough seating and the view is negatively impacted by safety railings placed directly in the line of site from seating to the pool. • SwimRVA’s pool allows for too much access from the spectator seating to the pool deck, which can cause traffic flow problems and challenges with non-competitors/officials in the competition area.

Other design features specifically preferred included:

• Plenty of storage space for pool and practice equipment, office/meeting space for coaches. • A lot of deck space for metal bleacher seating for simmers and space for officials and data recorders. • Enough parking to accommodate attendees at larger invitational meets with good access to the facility.

Assuming these amenities were incorporated into an aquatic center offering a 50-meter pool, JMHS swim team representatives indicated that they would utilize a new aquatic center Monday through Friday for 90 minutes each day, preferably between 4:00PM and 9:00PM. The season would start in early November and run through mid-February and include between three and four dual meets. Additionally, a new Natatorium would increase the likelihood of being able to host the annual District meet.

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USA Swimming

USA Swimming is the national governing body for the sport of swimming in the country providing rules and regulations for all sanctioned swim meets for more than 400,000 swimmers. The Chair of Virginia’s chapter of USA Swimming was interviewed in order to understand the need for a new aquatics center in Spotsylvania County to host regional, state, and national meets.

Representatives from USA Swimming believe there is a need for a new aquatics center in the region. They cited the lack of quality facilities at UMW as a key driver of this need, as well as the lack of larger facilities that have the adequate lanes and deck space to host larger meets in the region, with organizations having to utilize facilities like those at Virginia Tech to host these types of events. Though representatives indicated that there is not a big need for diving wells and platforms, they acknowledged that providing these types of facilities could provide a competitive advantage for a new Natatorium to host the largest meets that have both swim and dive components.

USA Swimming bids out all of their meets and factor in cost as well as the quality of the facility and offered amenities. For the state championship short-course and long-course meets, they have six long-course pools that they rotate through and do not typically award events to the same facility in back-to-back years. Though they would consider utilizing a new Natatorium in the Fredericksburg/Spotsylvania County area to host these major events, it is unlikely that they would award those events to the new facility in the first year of operations. Representatives anticipate paying between $3,000 and $4,000 per day at a new Natatorium to host their events and would rent the entire facility for at least a half-day and up to a full day on Saturdays for major regional meets.

In terms of location, representatives indicated that a new Natatorium on UMW’s campus could pose problematic in terms of the availability and proximity of parking. Additionally, a location within Spotsylvania County would be a little more centrally located and would draw from the broader regional area.

Additional facility requirements and preferences to host USA Swimming meets and usage at a new Natatorium included:

• A minimum of eight lanes in the 50-meter pool, with 10 lanes being most preferred. • To attract major events like Olympic trails, the facility would need two 50-meter pools or the ability of the facility to bring in another 50-meter pool in addition to their permanent pool. • For deck space, a distance of 25 feet between the pool edge and the wall would provide the best experience for hosting larger meets. • Consideration should be given to utilizing eel skin or other synthetic material in lieu of tiling around the immediate pool entry and exit areas to minimize tile cracking and future maintenance cost and time expenses to replace it. • A seating capacity of 800 would be adequate for a new aquatics center, and consideration should be given to double-decking the seating within the facility. • The Natatorium should have two multi-purpose rooms off the main deck to serve as administration rooms or staging areas for larger meets. Other preferred spaces in the building design included a lounge area with televisions and video games would serve to entertain participants between heats as well as serve as a space for kids to do homework. • Some type of unstructured green space, outdoor playground, basketball court and hoops, and/or walking trail would allow for families to entertain smaller children as they are at meets for extended periods of time throughout the swim season. • In terms of timing systems, representatives preferred on-deck timing systems instead of in-ground systems as updates and maintenance to in-ground systems generally requires more time to fix and can lead to closure of the pool facilities while those are completed. • Though most facilities utilize video boards for scores and standings, this can be a major cost investment for the facility. Representatives indicated that a roman numeral-style board system would be adequate as an alternative. • Quality sound systems, acoustics in the seating area, lighting designed to not reflect off the water surface, and UV filters for the water are all preferred ancillary amenities that contribute to a quality meet experience. • Tenant swim teams would need a weight room and other types of dry-land training areas, but these spaces are not necessary for USA Swimming events.

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Sports Virginia

Sports Virginia is a state-wide collaboration of professional convention and visitors bureaus (or destination marketing organizations, DMOs), sports commissions, parks & recreation departments, and athletic facilities that work together to make the region attractive for the hosting of events. The organization acts as a connector between facility managers in Virginia and third parties interested in hosting major events that can generate economic activity for host communities. This is due, in large part, to the fact that Sports Virginia only provides marketing dollars and does not issue grants to facilities or organizations to help them with the operational costs of event hosting.

Representatives indicated that they rely on their partners to determine whether facilities they manage meet the physical requirements for major events. As such, representatives from Sports Virginia have a unique perspective on what would make a new aquatics facility in the area viable. Generally speaking, representatives believed that there is a need for a new Natatorium and that there is unmet demand for the hosting of swim meets within the broader region. They did not believe that Virginia has pools with depths deep enough to host water polo, diving, and artistic swimming events as they have not been approached by partners to pursue those types of event bids.

The pool located in Richmond which currently hosts Olympic trial events is considered a quality facility but has a smaller than desired seating capacity for larger events. Therefore, if a new Natatorium in the Fredericksburg/Spotsylvania County area is a quality, state-of-the-industry facility and has a large seating capacity, that could provide a competitive advantage for hosting these types of events.

In terms of location, representatives questioned whether members of the community currently goes to the UMW campus and would be familiar with parking in the area. Though they could foresee that being a potential barrier to utilization, they believed that either located on campus or somewhere else in Spotsylvania County would be easily accessible and attractive to event organizers.

Market Demand Conclusions

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Ownership, Operations & Scheduling

Based on funding capacity and to facilitate a regionally-inclusive approach, it is believed that the proposed new Natatorium would be TYPICAL PRIVATE best served to be under public-sector ownership via Spotsylvania MANAGEMENT STRUCTURE County and privately-managed under lease or management agreement by a qualified third-party. FACILITY OWNER

Under this type of public/private model, the land and facility would

be owned by Spotsylvania County and leased or contracted to a ESTABLISHES third-party private entity responsible for operating and maintaining REPRESENTS the facility. The goals and objectives of this model can vary widely FACILITY GOVERNING BODY in examples throughout the country; however, many attempt to balance objectives of (1) accommodating local tenant groups and HIRES community use opportunities, (2) economic impact generation, and (3) operational self-sufficiency. Under an industry best practices REPORTS TO approach, these issues are negotiated and agreed upon by the PRIVATE MANAGEMENT FIRM parties in advance and appropriate booking, pricing, and operational guidance is memorialized within the ultimate lease/management

agreement. Throughout the country, some facilities under this ADVISES HIRES, model can be operationally self-sufficient and do not require annual REPORTS TO subsidy or external funding support, while some still require annual ON-SITE FACILITY STAFF financial operating support by the public sector facility owner.

Under private management, the Facility Owner (i.e., Spotsylvania County) retains all rights and privileges of ownership, while the private management firm performs assigned operational functions. An overview of the roles and responsibilities of all entities involved in a private management structure are detailed below and on the following page.

Facility Owner

The Facility Owner (e.g., Spotsylvania County) outlines policies informed by aims and goals for operating the venue. To refine these policies and ensure that they are being implemented by the private management firm, the Facility Owner establishes a Facility Oversight Board populated by appointed facility and community stakeholders.

Facility Oversight Board

The Facility Oversight Board would possess a formal set of bylaws to govern and oversee the new Natatorium. The Facility Oversight Board—a handful of appointed individuals with facility and community ties—would have de facto ownership control over the facility and could play a critical role in overseeing scheduling to ensure equitable access in accordance with the Facility Owner’s objectives. The Oversight Board hires the private management firm that will run the facility and ensures that the firm is implementing procedures to achieve stated facility policies. The Oversight Board approves facility budgets provided by the management firm, paying for all approved facility-related expenses and the private management fee. The development of the Oversight Board will ultimately depend on the facility’s project stakeholders from a financing, marketing, operations and key user group standpoint. Specifically, most governing bodies are formed once the financing structure, marketing plan, management team and key user group partners are selected to ensure that each group is represented. Given that the objectives of new facility investment is intended to balance local user group needs with community access and sports tourism, it will also be important that the governing board includes several representatives across user group, stakeholder and community segments. In some instances, the private management firm will also have a representative on the Oversight Board.

It is recommended that the private management agreement or lease negotiated with the operator include sufficient guidance with respect to mission, objectives, scheduling priorities and tenant/use coordination. A framework for the scheduling and use of major tenants and user groups should be established prior to the finalization of the funding plan for the project.

The Facility Oversight Board would be best positioned to manage, coordinate and ensure equitable scheduling and use of the Natatorium. The Board of Directors would be appointed by the Spotsylvania County Board of Supervisors and would consist of nine (9) board members from a cross-section of stakeholders and local industries. While the need for and/or composition of such a Board will depend on the exact partnership reached to ultimately fund the Natatorium, example of an appropriate industry composition might include: Spotsylvania County (3), UMW (1), Fredericksburg City (1), Tourism Industry (1), Public Schools (1), Swim Clubs (1), and Other At-Large (1).

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The Oversight Board would meet monthly and have ultimate scheduling, booking and governance oversight over the Natatorium. The Board would ensure that the Natatorium is being marketed, scheduled and operated in accordance with the established mission, booking policies, and operating procedures for the facility. The Board would have the ability to view the scheduling calendar for the Natatorium. The Board would have decision-making authority with respect to the management contract, scheduling conflicts, rates and discounts, and dispute resolution. The Board would essentially serve as the owner’s representative, ensuring marketing, scheduling, and operating alignment with the mission and booking focus of the facility.

Private Management Firm

The private management firm hired by the Oversight Board is responsible for operating the venue as guided by stated ownership policies. A firm account executive on the national corporate level directly reports to the Oversight Board and is responsible for hiring and overseeing the on-site Natatorium staff. The account executive also acts as an intermediary for support functions provided by the firm’s national corporate office, including human resources, brand and marketing strategy, financial reporting and legal/risk assistance. The firm is typically compensated with a flat annual management fee, plus incentive payments for producing desired results. Incentives could be based on achieving specific revenue goals, attendance, events, room night generation or other targets.

On-Site Facility Staff COMMON ON-SITE FACILITY The facility-specific full-time staff is commonly STAFFING STRUCTURE structured as per the diagram on the right. The facility general manager serves as the on-site lead and directly reports to the private management firm’s property- specific account executive. The marketing coordinator General oversees all facility marketing and sponsorship efforts, Manager the meet director works with third-party organizations to schedule meets, the local program director works with local organizations to schedule practices, dual meets and camps, the office manager oversees facility bookkeeping and the operations manager runs facility Marketing Meet Local Program Office Operations maintenance and food and beverage operations as well Coordinator Director Director Manager Manager as oversees most of the part-time employees that are hired for event-specific operations. This on-site staff is responsible for operating the facility within the budget Part-Time Op submitted by the private management firm and agreed Employees upon by the Oversight Board.

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Supportable Facility Concept

Key concept and program components of the recommended Natatorium project include the following. Additional program detail is provided in the exhibit on the following page.

Based on conversations with Spotsylvania County leaders, it is understood that there are presently a number of site parcels that are currently already owned by the County that could represent logical candidates for the proposed Natatorium project. While a detailed site analysis was not part of the contracted scope of services for this study, CHA performed a hypothetical test fit exercise with respect to one of the sites believed to possess a strong relative mix of attributes (including proximity to Fredericksburg and UMW’s main campus, along with good roadway accessibility and other such characteristics). The illustration below shows this hypothetical test fit for the County’s Spotsylvania Parkway West Parcel site.

Proposed Natatorium Hypothetical Site Test Fit Spotsylvania Parkway West Parcel (near intersection of Spotsylvania Parkway and New Berne Rd. / Yellow Birch Dr.)

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Proposed Fredericksburg / Spotsylvania Regional Area Natatorium Concept Building Program Detail

Group Program Space Qty/Pop Area Total Notes

1.00 Public 1.10 Lobby: 1.11 Vestibule 1 180 180 1.12 Lobby 1 300 300 1.13 Front Desk/Check-in/Reception 1 200 200 1.14 Lounge/Seating 1 300 300 Distributed 1.20 Restrooms: 1.21 Men's Restroom 1 360 360 Serving 400: 3 urinals, 3 toilets, 3 lavatories 1.22 Women's Restroom 1 640 640 Serving 400: 10 toilets, 3 lavatories 1.23 Family Restroom 1 80 80 1.30 Retail/Pro-Shop 1 500 500 Adjacent to Lobby 1.40 Junior Club/Multipurpose/Party Rental: 1.41 Junior Club Room 1 800 800 1.42 Multipurpose Rooms 3 750 2,250 1.43 Multipurpose Room Storage 3 140 420 1.50 Café: Adjacent to Lobby 1.51 Café Kitchen/Service Line 1 250 250 1.52 Café Kitchen Storage 1 150 150 1.53 Café Seating Area 1 300 300 1.00 Subtotal Public NSF 6,730

2.00 Administratiion 2.10 Reception 1 150 150 Adjacent to Lobby 2.11 Offices 3 120 360 2.12 Storage 1 100 100 2.00 Subtotal Administrative NSF 610

3.00 Locker Rooms/Changing 3.10 Team Locker Room Suites: 3.11 Team Locker Rooms 2 360 720 (2) 25 lockers each 3.12 Team Locker Rooms - Toilet/Shower 2 300 600 (2) 2 toilets, 1 lavatory, 4 showers each 3.13 Visiting Team Locker Room 2 290 580 Bench & hook strip 3.14 Visiting Team Locker Room - Toilet/Shower 2 260 520 1 toilet, 1 lavatory, 2 showers 3.20 General Use Locker/Changing: 3.21 Men's Locker Room 1 670 670 60 locker footprints; arranged in alcoves to accommodate meets 3.22 Men's Locker Room - Toilet/Shower 1 540 540 4 toilets, 4 urinals, 4 lavatories, 10 showers 3.23 Men's Sauna 1 140 140 3.24 Women's Locker Room 1 670 670 60 locker footprints; arranged in alcoves to accommodate meets 3.25 Women's Locker Room - Toilet/Shower 1 540 540 8 toilets, 4 lavatories, 10 showers 3.26 Women's Sauna 1 140 140 3.30 Single Occupancy Changing/Restroom/Showers 2 180 360 3.00 Subtotal Locker Rooms/Changing NSF 5,480

4.00 Natatorium 4.10 Primary Natatorium 1 32,500 32,500 50 M competition pool and 6 lane/25 yrd instructional/recreational pool 4.11 Primary Natatorium Spectator Seating 800 6.5 5,200 800 seat capacity 4.12 Primary Natatorium Storage 2 240 480 Located at each end 4.13 Primary Natatorium Filtration 1 850 850 4.14 Primary Natatorium Chemical Room 1 216 216 4.20 Wellness Pool 1 3,750 3,750 30' x 60' pool 4.21 Wellness Pool Storage 1 120 120 4.22 Wellness Pool Filtration/Chemical Room 1 240 240 4.20 Lifeguard: 4.21 Lifeguard 3 180 540 Office with views to each pool deck 4.22 Lifeguard Reception 1 120 120 Office suite adjacent to 50M pool 4.23 Lifeguard Offices 3 110 330 Office suite adjacent to 50M pool 4.24 First Aid 1 150 150 4.00 Natatorium NSF 44,496

5.00 Fitness Center 5.10 Fitness Areas 1 3,500 3,500 Free weights, cardiovascular equipment, strength & functional training areas 5.11 Fitness Storage 1 150 150 5.20 Personal Training Offices 3 100 300 5.30 Spin Room 1 500 500 5.40 Group Fitness Rooms 2 800 1600 5.41 Group Fitness Storage 2 120 240 5.00 Fitness Center NSF 6,290

6.00 Building Support 6.10 Mechanical 1 450 450 6.20 Electrical 1 200 200 6.30 Janitor 3 80 240 6.40 Trash/Recycling 1 150 150 6.50 Building Storage 1 250 250 6.00 Subtotal Miscellaneous NSF 1,290

Subtotal NSF 64,896 Total GSF 76,577 85% efficiency

Source: CHA Consulting, 2021.

Natatorium Feasibility Study for the Fredericksburg / Spotsylvania County Regional Area ● Page 50 5 MARKET DEMAND & PROGRAM

Concept Construction Cost Estimates Proposed Fredericksburg / Spotsylvania Regional Area Natatorium Summary of Estimated Construction Costs (in 2021$) Based on the market analysis provided by CSL and the programming developed by CHA, M.A. + Associates Estimated % Per prepared a detailed estimate of hypothetical Direct Const SF construction costs for the potential new Natatorium Key Items Cost Costs Cost project in Fredericksburg/Spotsylvania County. Cost Primary Facility estimates are presented in 2021 dollars and were 01 General Requirements $900,000 1.6% $11.75 generated using industry per-unit data adjusted for 03 Concrete $2,715,497 4.7% $35.46 conditions in Fredericksburg/Spotsylvania County and 04 Masonry $2,358,572 4.1% $30.80 05 Metals $2,537,181 4.4% $33.13 cost data of comparable natatorium projects, modified 06 Woods & Plastics (included in Finishes) - - - for time and locations. Construction costs tend to vary 07 Thermal/Moisture Protection $1,847,340 3.2% $24.12 widely among comparable facility projects. Many 08 Doors/Windows/Glazing $2,131,906 3.7% $27.84 variables exist that influence actual realized 09 Finishes/Interior Fit-out $4,274,254 7.4% $55.82 10 Accessories $142,703 0.2% $1.86 construction costs, including type of facility, size, 11 Equipment $549,200 0.9% $7.17 components, level of finish, integrated amenities, costs 12 Furnishings $253,438 0.4% $3.31 of goods and services in the local market, location and 13 Pool Construction $10,906,108 18.8% $142.42 14 Elevator(s)/Conveying Systems $33,912 0.1% $0.44 topography of the site, ingress/egress issues, and Subtotal - Primary Facility $28,650,111 49.0% $374.13 other such aspects. Further detail concerning the construction cost estimates and assumptions Facility Systems generated by M.A. + Associates is provided in the 21 Fire Supression $334,641 0.6% $4.37 22 Plumbing $924,151 1.6% $12.07 Appendix at the conclusion of this report. 23 HVAC $6,270,712 10.8% $81.89 26 Electric $4,087,692 7.1% $53.38 For purposes of this estimate, the unit costs are 27 Comm/Data $203,145 0.4% $2.65 consistent with higher education/university campus 28 Electronic Security $193,510 0.3% $2.53 Subtotal - Facility Systems $12,013,851 21.0% $156.89 architectural themes and finishes. In comparative terms, this would result in a state-of-the-industry, Subtotal - Building $40,663,962 70.0% $531.02 multi-component Natatorium facility product that is consistent with, but possessing a slightly higher Site quality of finish and amenity installation than the 02 Existing Conditions - - - 31 Earthwork $1,438,681 2.5% $18.79 current Rouse Center in Stafford. 32 Exterior Improvements $1,758,433 3.0% $22.96 33 Site Utilities $1,327,227 2.3% $17.33 As shown in the summary exhibit to the right, total Subtotal - Site $4,524,341 8.0% $59.08 order-of-magnitude hard and soft project costs Subtotal - Direct Cost $45,188,303 78.0% $590.10 associated with a new Natatorium project in Fredericksburg/Spotsylvania County are estimated at Soft Costs approximately $58.0 million. This figure does not Design Contigency @ 10% $4,518,830 7.8% $59.01 include any costs related to site acquisition, nor does it Escalation @ 4% - - - General Conditions @ 10% $4,970,713 8.6% $64.91 consider the highly-volatile steel, lumber and materials General Contractor Overhead & Profit @ 6% $3,280,671 5.7% $42.84 costs presently impacting the construction industry Subtotal - Soft Costs $12,770,214 22.0% $166.77 nationwide as the country exits the unprecedented pandemic. It is assumed that current construction TOTAL ESTIMATED HARD + SOFT COSTS $57,958,517 100.0% $756.87 cost volatility will largely be normalized to pre- pandemic levels by the time that construction services Note: Cost estimates are presented in 2021 dollars and were generated using industry per-unit data adjusted for would be contracted/purchased for any new conditions in Fredericksburg/Spotsylvania County and cost data of comparable natatorium projects, Natatorium project in Fredericksburg/Spotsylvania modified for time and locations. Construction costs tend to vary widely among comparable facility projects. Many variables exist that influence actual realized construction costs, including type of facility, County. size, components, level of finish, integrated amenities, costs of goods and services in the local market, location and topography of the site, ingress/egress issues, and other such aspects. Source:M.A. + Associates, LLC, based off of program assumptions developed by CSL and CHA Consulting, 2021.

Natatorium Feasibility Study for the Fredericksburg / Spotsylvania County Regional Area ● Page 51 5 MARKET DEMAND & PROGRAM

Hypothetical Schedule

Based on the results of the market research and analysis completed, it is useful to begin to consider a potential schedule and calendar of use by major user groups. The calendar below provides a general overview of a hypothetical programming schedule for a typical week in the winter and summer seasons at a potential new Natatorium in Fredericksburg/Spotsylvania County. For purposes of this report, the Winter season is defined as September through February, and the Summer season is defined as March through August. These definitions are based on discussions with representatives from potential user groups and reflect the general seasons that competitive swimming is segmented into for club, high school and collegiate swimmers.

Programming on the utilization calendar is broken into eight general categories:

• UMW (includes practice time, and Campus Recreation usage). • Stingrays and Tsunami club usage. • Placeholders for high school swimming practices among the various regional high school swimming programs. • Open swim/lap swimming times. • Learn-to-swim times. • Introduction and training for diving. • Rehabilitation and physical therapy opportunities. • Fitness class opportunities.

It should be noted that there will be certain times of the day in which pool time will be dedicated towards pool maintenance. While these times are not reflected in the calendar, they are included in the estimated usable hours of the facility for each pool activity.

Proposed Fredericksburg / Spotsylvania Regional Area Natatorium Typical Primary Tenant Weekly Schedule for Competition Pool (Winter & Summer Season Examples)

WINTER SEASON (SEPTEMBER TO FEBRUARY) SUMMER SEASON (MARCH TO AUGUST)

Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sunday Monday Tuesday Wednesday Thursday Friday Saturday 5:00 AM 5:00 AM 5:30 AM 5:30 AM 6:00 AM 6:00 AM 6:30 AM UMW UMW UMW 6:30 AM Tsunami Tsunami Tsunami 7:00 AM Varsity Varsity Varsity 7:00 AM 7:30 AM Tsunami Tsunami Tsunami 7:30 AM 8:00 AM UMW 8:00 AM 8:30 AM Varsity 8:30 AM 9:00 AM 9:00 AM 9:30 AM 9:30 AM 10:00 AM 10:00 AM 10:30 AM 10:30 AM 11:00 AM 11:00 AM 11:30 AM 11:30 AM 12:00 PM 12:00 PM 12:30 PM 12:30 PM 1:00 PM 1:00 PM 1:30 PM 1:30 PM 2:00 PM 2:00 PM Competition Pool Competition Pool 2:30 PM 2:30 PM 3:00 PM 3:00 PM UMW UMW 3:30 PM UMW UMW UMW 3:30 PM Varsity Varsity Stingrays 4:00 PM Varsity Varsity Varsity 4:00 PM Stingrays Stingrays 4:30 PM Tsunami Tsunami Tsunami 4:30 PM High High Stingrays 5:00 PM Stingrays Stingrays Stingrays 5:00 PM School School 5:30 PM High High High 5:30 PM Tsunami Tsunami Tsunami 6:00 PM School School School 6:00 PM 6:30 PM 6:30 PM 7:00 PM 7:00 PM 7:30 PM 7:30 PM UMW Campus Rec 8:00 PM 8:00 PM 8:30 PM 8:30 PM

Natatorium Feasibility Study for the Fredericksburg / Spotsylvania County Regional Area ● Page 52 5 MARKET DEMAND & PROGRAM

Further, the exhibit below presents an additional way to consider utilization and coordination of a potential new Natatorium in Fredericksburg/Spotsylvania County by focusing on individual pools, available lanes, and seasons. While the bulkhead provides flexibility for scaling the competition pool in various different configurations, the exercise below can be helpful when considering demand patterns in more detail for a typical weekday of usage. Weekend use for the competition pool would be different— emphasizing the scheduling/accommodation of competitive meets.

Proposed Fredericksburg / Spotsylvania Regional Area Natatorium Hypothetical Daily Schedule by Lanes (Winter & Summer Season Examples)

TYPICAL WEEKDAY ACTIVITY TYPICAL WEEKDAY ACTIVITY WINTER SEASON (SEPTEMBER TO FEBRUARY) WINTER SEASON (SEPTEMBER TO FEBRUARY) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 1 2 3 4 5 6 Wellness 5:00 AM 5:00 AM Fitness Class 5:30 AM 5:30 AM 6:00 AM Tsunami Swim Club 6:00 AM Open Swim/ 6:30 AM Practice Tsunami Swim Club 6:30 AM Lap Swim 7:00 AM UMW Varsity Practice Practice 7:00 AM 7:30 AM 7:30 AM 8:00 AM 8:00 AM Fitness Class 8:30 AM 8:30 AM 9:00 AM 9:00 AM 9:30 AM 9:30 AM 10:00 AM Rehabilitation and 10:00 AM Learn to Rehabilitation and Rehabilitation and Learn to Swim Fitness Class 10:30 AM B Physical Therapy 10:30 AM Swim Physical Therapy Physical Therapy 11:00 AM U 11:00 AM 11:30 AM Open Swim/ L 11:30 AM 12:00 PM Lap Swim K 12:00 PM 12:30 PM 12:30 PM H 1:00 PM 1:00 PM Open Swim/ 1:30 PM E Rehabilitation and 1:30 PM Lap Swim Rehabilitation and 2:00 PM A Physical Therapy 2:00 PM Physical Therapy

Competition Pool 2:30 PM Learn to Swim D 2:30 PM 3:00 PM 3:00 PM 3:30 PM High School Swim Tsunami Swim Club High School Swim Team 3:30 PM 4:00 PM Team Practice Practice Practice 4:00 PM

Recreation & Pool Wellness Pool Learn to Swim 4:30 PM 4:30 PM UMW Varsity Practice 5:00 PM 5:00 PM 5:30 PM High School Swim Stingrays Swim Club High School Swim Team 5:30 PM 6:00 PM Team Practice Practice Practice 6:00 PM Fitness Class 6:30 PM 6:30 PM 7:00 PM 7:00 PM 7:30 PM 7:30 PM Open Swim/ Intro to Diving UMW Campus Recreation 8:00 PM 8:00 PM Lap Swim 8:30 PM 8:30 PM

TYPICAL WEEKDAY ACTIVITY TYPICAL WEEKDAY ACTIVITY SUMMER SEASON (MARCH TO AUGUST) SUMMER SEASON (MARCH TO AUGUST) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 1 2 3 4 5 6 Wellness 5:00 AM 5:00 AM 5:30 AM 5:30 AM Fitness Class 6:00 AM Stingrays Swim Club 6:00 AM Open Swim/ 6:30 AM Practice Stingrays Swim Club 6:30 AM Lap Swim 7:00 AM Practice 7:00 AM 7:30 AM 7:30 AM Open Swim/Lap Swim 8:00 AM 8:00 AM Fitness Class 8:30 AM 8:30 AM 9:00 AM 9:00 AM 9:30 AM Introduction to Diving 9:30 AM 10:00 AM 10:00 AM Rehabilitation and 10:30 AM B 10:30 AM Physical Therapy 11:00 AM Water Safety Instructor Training U 11:00 AM 11:30 AM 11:30 AM L Learn to Swim 12:00 PM 12:00 PM Open Swim/Lap Swim K Learn to Swim 12:30 PM 12:30 PM H 1:00 PM 1:00 PM 1:30 PM Scuba Diving Certification E 1:30 PM Rehabilitation and 2:00 PM A 2:00 PM Physical Therapy

Competition Pool 2:30 PM D 2:30 PM 3:00 PM 3:00 PM 3:30 PM Tsunami Swim Club 3:30 PM Open Swim/Lap Swim 4:00 PM Practice 4:00 PM 4:30 PM Recreation & Pool Wellness Pool 4:30 PM Open Swim/ 5:00 PM 5:00 PM Lap Swim Fitness Class 5:30 PM Stingrays Swim Club 5:30 PM 6:00 PM Practice 6:00 PM Fitness Class 6:30 PM 6:30 PM 7:00 PM 7:00 PM 7:30 PM 7:30 PM Open Swim/ 8:00 PM 8:00 PM Lap Swim 8:30 PM 8:30 PM

Natatorium Feasibility Study for the Fredericksburg / Spotsylvania County Regional Area ● Page 53 5 MARKET DEMAND & PROGRAM

Estimated Utilization Levels

Estimated Utilization of a New Natatorium in Fredericksburg / Spotsylvania County (50M Competitive Pool + 25M Recreational Pool + Diving, Stabilized Year of Operations)

Subtotal: 51,275 114,234 0.3 34,439 148,673 75% 25% 111,631 37,042

Subtotal: 28 393 11,000 2.3 25,300 78,600 26% 74% 20,430 58,170

TOTALS 28 4,473 125,234 0.5 59,739 227,273 58% 42% 132,061 95,212

Natatorium Feasibility Study for the Fredericksburg / Spotsylvania County Regional Area ● Page 54 COST / BENEFIT ANALYSIS

6 6 COST / BENEFIT ANALYSIS

Economic Impact Concepts & Methods

The investment in a new Natatorium project will be expected to provide substantial quantifiable benefits. These quantifiable benefits often serve as the “return on investment” of public dollars that are contributed to develop the facility project and site. Quantifiable measurements of the effects that facility project could have on the local economy are characterized in terms of economic impacts and fiscal impacts. Direct spending represents the primary spending that would occur as a result of the construction and operations of the Natatorium. Direct spending occurs in three ways:

CONSTRUCTION SPENDING IN-FACILITY SPENDING OUT-OF-FACILITY SPENDING Construction materials, labor, design Direct spending is generated by Outside the Natatorium itself, additional and professional fees, and other soft visitors and participants at the new direct spending is generated in city, cost spending are generated during the Natatorium during the course of annual county and regional areas by visitors, planning and construction of the new operation. This spending occurs with spectators, attendees, participants, event Natatorium facility. respect to both swimming and non- staff, and visiting facility users on swimming items, such as registrations, lodging, food and beverage, retail, admissions, facility rentals, food and entertainment, transportation, and other beverage, merchandise, sponsorship and such items in connection with their advertising, and visit to the area. retail leases.

A primary intent of this analysis is to estimate the direct spending that could occur directly at the Natatorium itself, in order to approximate the potential associated tax revenues generated from such spending. The vast majority of Construction and In-Facility Spending will be estimated to occur within the Fredericksburg/Spotsylvania County area. Additionally, net new impacts will be generated throughout the Fredericksburg/Spotsylvania County area, primarily relating to Out-of-Facility Spending (i.e., spending occurring off the Natatorium site by visitors to the Fredericksburg/Spotsylvania County area on items such as hotels, restaurants, retail, transportation, etc.).

From a broad perspective, gross direct spending would flow to various economic entities, including Fredericksburg/Spotsylvania County and other applicable municipal government(s), restaurants, hotel operators, retail businesses and other such entities. However, some of the spending that occurs in connection with the ongoing operations of the Natatorium project would not fully impact the local area. As such, reductions must be made to gross direct spending to reflect the amount of direct spending associated with the Natatorium project and site improvements that are considered net new to Fredericksburg/Spotsylvania County. These adjustments include:

LEAKAGE represents the portion of gross spending estimated to occur outside the larger geographic area considered for this analysis (Fredericksburg/Spotsylvania County). Immediate leakage occurs when initial direct expenditures occur outside the area, such as an out-of-town Natatorium visitor that patronizes a hotel or restaurant located outside of Fredericksburg/Spotsylvania County. Leakage also occurs when initial local spending is used immediately to pay for goods, services, etc. outside of Fredericksburg/Spotsylvania County. Examples of this type of secondary leakage include food and beverage profits retained by companies based outside of Fredericksburg/Spotsylvania County.

DISPLACEMENT refers to spending that would have likely occurred anyway in Fredericksburg/Spotsylvania County without the presence of the Natatorium. Examples of displaced spending would include spending by Fredericksburg/Spotsylvania County residents in connection with their visit to the new Natatorium site (registrations, food and beverage, retail items, etc.) that would have been spent within Fredericksburg/Spotsylvania County anyway on other items (e.g., movies, restaurants, shopping, etc.) if they did not visit the Natatorium site. Another example of displaced spending would include out-of-facility spending by non-local individuals visiting from outside of Fredericksburg/Spotsylvania County whose primary purpose for visiting Fredericksburg/Spotsylvania County was something other than visiting or participating in activities at the Natatorium itself, and who would have spent their money in some other form in Fredericksburg/Spotsylvania County. The concept of displacement is oftentimes referred to as the substitution effect.

The flow of gross direct spending is adjusted to reflect only the spending that is considered net new to the local economy (i.e., Fredericksburg/Spotsylvania County). The resulting spending after all adjustments is referred to throughout the remainder of this analysis as net new direct spending.

Natatorium Feasibility Study for the Fredericksburg / Spotsylvania County Regional Area ● Page 56 6 COST / BENEFIT ANALYSIS

Economic impacts are further increased through re-spending of the direct spending. The total impact is estimated by applying an economic multiplier to initial direct spending to account for the total economic impact. The total output multiplier is used to estimate the aggregate total spending that takes place beginning with direct spending and continuing through each successive round of re-spending. Successive rounds of re-spending are generally discussed in terms of their indirect and induced effects on the area economy. Each is discussed in more detail below.

INDIRECT EFFECTS consist of the re-spending of the initial or direct expenditures. These indirect impacts extend further as the dollars constituting the direct expenditures continue to change hands. This process, in principle, could continue indefinitely. However, recipients of these expenditures may spend all or part of it on goods and services outside the market area, put part of these earnings into savings, or pay taxes. This spending halts the process of subsequent expenditure flows and does not generate additional spending or impact within the community after a period of time. This progression is termed leakage and reduces the overall economic impact.

Indirect impacts occur in a number of areas including the following:

• Wholesale industry as purchases of food and merchandise products are made. • Transportation industry as the products are shipped from purchaser to buyer. • Manufacturing industry as products used to service the Natatorium and site, vendors and others are produced. • Utility industry as the power to produce goods and services is consumed. • Other such industries.

INDUCED EFFECTS consist of the positive changes in spending, employment, earnings and tax collections generated by personal income associated with the operations of the Natatorium and other related facilities. Specifically, as the economic impact process continues, wages and salaries are earned, increased employment and population are generated, and spending occurs in virtually all business, household and governmental sectors. This represents the induced spending impacts generated by direct expenditures.

Indirect and induced effects are calculated by applying the appropriate multipliers to the net new direct spending estimates. The appropriate multipliers to be used are dependent upon certain regional characteristics and also the nature of the expenditure. Generally, an area which is capable of producing a wide range of goods and services within its borders will have high multipliers, a positive correlation existing between the self-sufficiency of an area's economy and the higher probability of re-spending occurring within the region. If a high proportion of the expenditures must be imported from another geographical region, lower multipliers will result.

The multiplier estimates used in this analysis are based on the IMPLAN system. IMPLAN, which stands for Impact Analyses and Planning, is a computer software package that consists of procedures for estimating local input-output models and associated databases. Input-output models are a technique for quantifying interactions between firms, industries and social institutions within a local economy. IMPLAN was originally developed by the U.S. Forest Service in cooperation with the Federal Emergency Management Agency and the U.S. Department of the Interior's Bureau of Land Management to assist in land and resource management planning. Since 1993, the IMPLAN system has been developed under exclusive rights by the Minnesota Implan Group, Inc., which licenses and distributes the software to users. Currently, there are thousands of licensed users in the United States including universities, government agencies, and private companies.

The economic data for IMPLAN comes from the system of national accounts for the United States based on data collected by the U.S. Department of Commerce, the U.S. Bureau of Labor Statistics, and other federal and state government agencies. Data are collected for 440 distinct producing industry sectors of the national economy corresponding to the Standard Industrial Categories (SICs). Industry sectors are classified on the basis of the primary commodity or service produced. Corresponding data sets are also produced for each county and zip code in the United States, allowing analyses at both the city and county level and for geographic aggregations such as clusters of contiguous cities, counties, individual states, or groups of states.

Data provided for each industry sector include outputs and inputs from other sectors; value added, employment, wages and business taxes paid; imports and exports; final demand by households and government; capital investment; business inventories; marketing margins and inflation factors (deflators). These data are provided both for the 440 producing sectors at the national level and for the corresponding sectors at the local level. Data on the technological mix of inputs and levels of transactions between producing sectors are taken from detailed input-output tables of the national economy. National and local level data are the basis for IMPLAN calculations of input-output tables and multipliers for geographic areas. The IMPLAN software package allows the estimation of the multiplier effects of changes in final demand for one industry on all other industries within a local economic area.

Natatorium Feasibility Study for the Fredericksburg / Spotsylvania County Regional Area ● Page 57 6 COST / BENEFIT ANALYSIS

The multiplier effects estimated in this analysis include:

• TOTAL OUTPUT represents the total direct, indirect, and induced spending effects generated by the new Natatorium. Total output is calculated by multiplying the appropriate total output multiplier by the estimated direct spending within each industry. • PERSONAL INCOME (EARNINGS) represent the wages and salaries earned by employees of businesses impacted by the new Natatorium. Personal earnings are calculated by multiplying the appropriate personal earnings multiplier by the estimated direct spending within each industry. • EMPLOYMENT is expressed in terms of total jobs and includes both full and part-time jobs. Employment is calculated by dividing the appropriate employment multiplier by one million, and then multiplying by the estimated direct spending within each industry.

In addition to the economic impacts that could be generated by the new Natatorium, fiscal revenues could be generated to Fredericksburg/Spotsylvania County and various other municipal/governmental entities from a variety of sources. In preparing estimates of fiscal impacts, revenues generated to Fredericksburg/Spotsylvania County from direct, indirect and induced spending were examined. As a focus of this analysis relates to the economic and tax impact within the Fredericksburg/Spotsylvania County area, the primary fiscal revenues estimated herein are sales, hotel (TOT), and food & beverage taxes that are estimated to be generated within Spotsylvania County. The net new tax impacts consider reductions for assumed displaced spending within Fredericksburg/Spotsylvania County, as well as spending that is assumed to occur outside of Fredericksburg/Spotsylvania County.

Although there may be other tax revenues and public sector fees/charges generated as a result of the construction and operations of the new Natatorium, net new food & beverage and innkeeper’s taxes represent the most directly-attributable and relevant sources relating to this analysis.

The graphic to the right illustrates key measurements of economic and tax impacts utilized in this analysis. Commencing with the estimation of net new direct Food & Merchandise Transport Company spending associated with the Natatorium project, Manufacturers successive rounds of re-spending generate indirect Energy/Utilities DIRECT and induced effects. The sum of all this net new spending in Fredericksburg/Spotsylvania County’s SPENDING Construction economy represents total Economic Output. This ECONOMIC In-Facility Out-of-Facility new economic output, in turn, likewise generates OUTPUT added earnings (personal income), jobs (employment), and tax revenues. Personal Income Employment In addition to the quantifiable benefits associated Taxes with a new Natatorium, there are a number of existing and potential benefits that cannot be quantified. In fact, these qualitative benefits tend to be a critical factor in the consideration of public and private investment in facilities of this nature. These include issues pertaining to quality of life and wellness, Business Services ancillary economic development facilitation, Household Spending employment opportunities, community pride, and Governmental other such items. Other Sectors

The quantitative impact figures do not include economic impact that could be generated by the non-aquatic and athletic space components of the Natatorium project itself and other new elements at the greater site or nearby the site (such as the construction and operation of a new hotel, new parking facilities, and new or improved restaurant, retail, residential and other such improvements that could occur in response to higher site area visitation, visibility and demand levels). Some of the impacts associated with the new Natatorium would be quantitatively captured by these other developments and improvements, but substantial additional economic impact could be generated by any new public or private investment that occurs at, or near, the site. The net effect of a calculation of quantified economic impact could hypothetically be several times greater in magnitude (depending on the level of investment and development outcomes that are ultimately realized at, or near, the site).

Natatorium Feasibility Study for the Fredericksburg / Spotsylvania County Regional Area ● Page 58 6 COST / BENEFIT ANALYSIS

Key Analysis Assumptions

This section presents the results of an analysis conducted to generate projections of utilization, attendance and economic impacts associated with the new Natatorium in Fredericksburg/Spotsylvania County. A detailed computer-based model was developed, along with key assumptions, to generate estimates related to the Natatorium. Key assumptions used to estimate operating and economic impact characteristics of the new Natatorium include, but are not limited to the following:

1. This analysis is designed to assist project representatives in assessing the potential utilization, financial and economic impacts associated with the new Natatorium and cannot be considered a presentation of expected future results. The assumptions disclosed herein are not all-inclusive, but are those deemed to be significant. Because events and circumstances frequently do not occur as expected, there usually will be differences between estimated and actual results and these differences may be material. 2. Projections of utilization, attendance, financial operations, and economic impacts only consider the recommended facility concept, program, and ownership/governance/management configuration for the Natatorium outlined within the previous chapter of this report. Since detailed facility design, configuration, site selection, and final costing have not yet been completed, the assumptions used in this analysis are based on the research and analysis completed for this study engagement, industry experience with similar facility projects, comparable facility data, and information provided by certain stakeholders, including UMW, Spotsylvania County, candidate user groups, and other stakeholders and community leaders. Additional physical development planning must be completed before more precise estimations of the Natatorium’s operating costs can be made, and likewise, estimates of construction costs. Also, upon completion of further planning, revenue and expense assumptions should be updated to reflect changes to the assumptions made herein. These changes could significantly affect the analysis of future operating results. 3. The analysis and projection of tax revenues generated by the Natatorium only considers directly-attributable taxes relevant to the host governmental entity (i.e., Spotsylvania County). For purposes of this analysis, the taxes considered are the 1.0% Spotsylvania County Sales Tax, the 5.0% Spotsylvania County Transient Occupancy Tax (TOT), and the 4.0% Spotsylvania County Food & Beverage Tax. Positive impacts may also be realized with respect to the collection of other taxes and governmental fees (i.e., property taxes, income taxes, licenses, permitting, etc.); however, they tend to have a less direct correlation with the one-time construction and annual operation of a Natatorium. As such, for conservative purposes, these other types of taxes were not considered in this analysis. 4. It is assumed that the Natatorium will be aggressively marketed by a qualified third-party management company, providing competitive rental and use rates. It is assumed that there are no significant or material changes in the supply or quality of existing competitive venues in the local marketplace. 5. The projections developed herein relate to opening and annual operations in a post-COVID-19 environment (first full year of operations is assumed to be beyond 2023). Should the recovery from the pandemic be slower than broadly expected or economic conditions and commerce have not substantially recovered by the time of facility opening, the performance projections outlined herein will need to be revised. 6. There are no significant or material changes to current local and national trends with respect to the swimming, aquatics and sports tourism industries. 7. Construction costs and year-over-year financial and economic impact projections are presented in terms of current 2021 dollars throughout the 20-year project period. 8. Stabilization of operations is assumed to occur by the fourth full year of operations. At which time, annual utilization levels, attendance and operating performance are projected at consistent year-over-year levels.

Natatorium Feasibility Study for the Fredericksburg / Spotsylvania County Regional Area ● Page 59 6 COST / BENEFIT ANALYSIS

Utilization & Attendance Projections

A detailed utilization, financial and economic model was developed. Based on the market and program assumptions discussed herein, the exhibit below presents a summary of the PROJECTED estimated annual utilization levels for primary programming by use type for the new ANNUAL Natatorium, along with projections of the annual number of competitive swim meets by LANE HOURS: type. 51,275

As shown, upon stabilization of operations (fourth full year), the Natatorium is estimated to accommodate nearly 51,300 lane hours of swimming and aquatic activities annually.

It is estimated that the new Natatorium serving the Fredericksburg and Spotsylvania County Regional Area will attract 28 competitive swim meets upon stabilization of operations by the fourth full year. PROJECTED Further detail surrounding all the assumptions, calculations and projections that were ANNUAL developed are presented in Appendix B at the conclusion of this report. MEETS: 28

Opening Stabilized 20-Year UTILIZATION Year 1 Year 2 Year 3 Year 4 Cumulative PROGRAMMING (LANE HOURS) UMW Varsity 4,503 4,503 4,503 4,503 90,060 Tsunami 2,736 2,880 3,024 3,168 62,496 Stingrays 2,736 2,880 3,024 3,168 62,496 Local High Schools 1,920 2,040 2,160 2,280 44,880 Intro to Diving 1,520 1,600 1,680 1,760 34,720 Open Swimming 18,480 19,320 20,160 21,000 414,960 UMW Campus Rec 1,344 1,344 1,344 1,344 26,880 Open Swim Lessons 4,864 5,120 5,376 5,632 111,104 Rehab & Physical Therapy 3,800 4,000 4,200 4,400 86,800 Fitness Classes 1,140 1,200 1,260 1,320 26,040 Other Users & Misc 2,160 2,340 2,520 2,700 52,920 Total 45,203 47,227 49,251 51,275 1,013,356 MEETS UMW Invitational Meets 3 3 4 4 78 UMW Dual Meets 6 6 7 7 138 Club & Other Invitational Meets 6 7 8 9 174 High School Invitational Meets 2 2 3 3 58 High School Dual Meets 4 4 5 5 98 Total 21 22 27 28 546

Natatorium Feasibility Study for the Fredericksburg / Spotsylvania County Regional Area ● Page 60 6 COST / BENEFIT ANALYSIS

The following exhibit presents a summary of attendance projections by type for the proposed Natatorium serving the Fredericksburg/Spotsylvania County Regional Area. As shown, upon stabilization, it is estimated that the Natatorium will annually generate a total attendance of approximately 185,000 (including a combination of swimmers, coaches/staff and spectators).

Opening Stabilized 20-Year ATTENDANCE Year 1 Year 2 Year 3 Year 4 Cumulative PROGRAMMING (SWIMMERS) UMW Varsity 22,500 22,500 22,500 22,500 450,000 Tsunami 22,800 24,000 25,200 26,400 520,800 Stingrays 22,800 24,000 25,200 26,400 520,800 Local High Schools 3,840 4,080 4,320 4,560 89,760 Intro to Diving 1,900 2,000 2,100 2,200 43,400 Open Swimming 8,800 9,200 9,600 10,000 197,600 UMW Campus Rec 480 480 480 480 9,600 Open Swim Lessons 9,728 10,240 10,752 11,264 222,208 Rehab & Physical Therapy 950 1,000 1,050 1,100 21,700 Fitness Classes 4,560 4,800 5,040 5,280 104,160 Other Users & Misc 3,240 3,510 3,780 4,050 79,380 Total 101,598 105,810 110,022 114,234 2,259,408 PROGRAMMING (SPECTATORS) UMW Varsity 6,750 6,750 6,750 6,750 135,000 Tsunami 6,840 7,200 7,560 7,920 156,240 Stingrays 6,840 7,200 7,560 7,920 156,240 Local High Schools 1,152 1,224 1,296 1,368 26,928 Intro to Diving 570 600 630 660 13,020 Open Swimming 0 0 0 0 0 UMW Campus Rec 0 0 0 0 0 Open Swim Lessons 7,782 8,192 8,602 9,011 177,766 Rehab & Physical Therapy 0 0 0 0 0 Fitness Classes 0 0 0 0 0 Other Users & Misc 648 702 756 810 15,876 Total 30,582 31,868 33,154 34,439 681,070 MEETS (SWIMMERS) UMW Invitational Meets 2,400 2,400 3,200 3,200 62,400 UMW Dual Meets 600 600 700 700 13,800 Club & Other Invitational Meets 3,600 4,200 4,800 5,400 104,400 High School Invitational Meets 800 800 1,200 1,200 23,200 High School Dual Meets 400 400 500 500 9,800 Total 7,800 8,400 10,400 11,000 213,600 MEETS (SPECTATORS) UMW Invitational Meets 4,800 4,800 6,400 6,400 124,800 UMW Dual Meets 1,200 1,200 1,400 1,400 27,600 Club & Other Invitational Meets 9,000 10,500 12,000 13,500 261,000 High School Invitational Meets 2,000 2,000 3,000 3,000 58,000 High School Dual Meets 800 800 1,000 1,000 19,600 Total 17,800 19,300 23,800 25,300 491,000 TOTAL ATTENDANCE UMW Varsity 29,250 29,250 29,250 29,250 585,000 Tsunami 29,640 31,200 32,760 34,320 677,040 Stingrays 29,640 31,200 32,760 34,320 677,040 Local High Schools 4,992 5,304 5,616 5,928 116,688 Intro to Diving 2,470 2,600 2,730 2,860 56,420 Open Swimming 8,800 9,200 9,600 10,000 197,600 UMW Campus Rec 480 480 480 480 9,600 Open Swim Lessons 17,510 18,432 19,354 20,275 399,974 Rehab & Physical Therapy 950 1,000 1,050 1,100 21,700 Fitness Classes 4,560 4,800 5,040 5,280 104,160 Other Users & Misc 3,888 4,212 4,536 4,860 95,256 UMW Invitational Meets 7,200 7,200 9,600 9,600 187,200 UMW Dual Meets 1,800 1,800 2,100 2,100 41,400 Club & Other Invitational Meets 12,600 14,700 16,800 18,900 365,400 High School Invitational Meets 2,800 2,800 4,200 4,200 81,200 High School Dual Meets 1,200 1,200 1,500 1,500 29,400 Total 157,780 165,378 177,376 184,973 3,645,078

Natatorium Feasibility Study for the Fredericksburg / Spotsylvania County Regional Area ● Page 61 6 COST / BENEFIT ANALYSIS

Financial Operating Projections

Further detail surrounding all the assumptions, calculations and projections that were developed are presented in Appendix B at the conclusion of this report.

Natatorium Feasibility Study for the Fredericksburg / Spotsylvania County Regional Area ● Page 62 6 COST / BENEFIT ANALYSIS

The following exhibit presents a summary of projected economic impacts associated with the new Natatorium in Fredericksburg/Spotsylvania County. Results are shown in terms of the following three groupings, with an overall totals presented at the bottom of the exhibit:

A) Construction Impacts B) In-Facility Impacts C) Out-of-Facility Impacts

Opening Stabilized 20-Year ECONOMIC IMPACT Year 1 Year 2 Year 3 Year 4 Cumulative A) Construction Impacts Net New Hotel Room Nights 0 0 0 0 0 Total Attendee Days 0 0 0 0 0 Net New Non Local Visitor Days 0 0 0 0 0 Direct Spending $0 $0 $0 $0 $28,979,259 Indirect/Induced Spending $0 $0 $0 $0 $19,897,685 Economic Output $0 $0 $0 $0 $48,876,943 Personal Income $0 $0 $0 $0 $16,459,422 Employment (full & part-time jobs) 0 0 0 0 347 County Sales Tax (1.0%) $0 $0 $0 $0 $349,486 County TOT (5.0%) $0 $0 $0 $0 $0 County Food & Beverage Tax (4.0%) $0 $0 $0 $0 $0 Total Taxes $0 $0 $0 $0 $349,486 B) In-Facility Impacts Net New Hotel Room Nights 0 0 0 0 0 Total Attendee Days 0 0 0 0 0 Net New Non Local Visitor Days 0 0 0 0 0 Direct Spending $950,268 $1,000,858 $1,080,937 $1,131,526 $22,268,002 Indirect/Induced Spending $652,683 $687,432 $742,541 $777,290 $15,296,583 Economic Output $1,602,952 $1,688,290 $1,823,478 $1,908,816 $37,564,585 Personal Income $680,810 $717,039 $773,747 $809,976 $15,941,195 Employment (full & part-time jobs) 23 24 26 27 530 County Sales Tax (1.0%) $11,461 $12,071 $13,037 $13,647 $268,570 County TOT (5.0%) $0 $0 $0 $0 $0 County Food & Beverage Tax (4.0%) $28,010 $29,492 $31,455 $32,937 $648,888 Total Taxes $39,470 $41,563 $44,492 $46,584 $917,457 C) Out-of-Facility Impacts Net New Hotel Room Nights 13,581 14,461 17,017 17,897 349,306 Total Attendee Days 187,580 197,278 217,576 227,273 4,466,078 Net New Non Local Visitor Days 73,280 77,814 90,678 95,212 1,860,375 Direct Spending $7,819,162 $8,313,052 $9,728,842 $10,222,732 $199,647,496 Indirect/Induced Spending $5,343,345 $5,680,809 $6,648,129 $6,985,593 $136,427,366 Economic Output $13,162,507 $13,993,861 $16,376,971 $17,208,325 $336,074,862 Personal Income $5,412,894 $5,754,757 $6,734,693 $7,076,556 $138,203,794 Employment (full & part-time jobs) 168 178 209 219 4,283 County Sales Tax (1.0%) $94,222 $100,173 $117,233 $123,184 $2,405,757 County TOT (5.0%) $91,263 $97,179 $114,351 $120,267 $2,347,334 County Food & Beverage Tax (4.0%) $139,823 $148,617 $173,772 $182,566 $3,565,834 Total Taxes $325,308 $345,969 $405,356 $426,017 $8,318,925 TOTAL NET NEW IMPACTS Net New Hotel Room Nights 13,581 14,461 17,017 17,897 349,306 Total Attendee Days 187,580 197,278 217,576 227,273 4,466,078 Net New Non Local Visitor Days 73,280 77,814 90,678 95,212 1,860,375 Direct Spending $8,769,431 $9,313,910 $10,809,779 $11,354,258 $250,894,756 Indirect/Induced Spending $5,996,028 $6,368,241 $7,390,669 $7,762,883 $171,621,633 Economic Output $14,765,459 $15,682,151 $18,200,448 $19,117,141 $422,516,390 Personal Income $6,093,703 $6,471,796 $7,508,440 $7,886,532 $170,604,411 Employment (full & part-time jobs) 190 202 234 246 5,159 County Sales Tax (1.0%) $105,682 $112,244 $130,270 $136,831 $3,023,812 County TOT (5.0%) $91,263 $97,179 $114,351 $120,267 $2,347,334 County Food & Beverage Tax (4.0%) $167,832 $178,109 $205,227 $215,503 $4,214,722 Total Taxes $364,778 $387,532 $449,848 $472,601 $9,585,868

Natatorium Feasibility Study for the Fredericksburg / Spotsylvania County Regional Area ● Page 63 6 COST / BENEFIT ANALYSIS

(A) Construction Impacts (one-time)

The impact of the construction phase is determined by the volume and nature of the construction expenditures as well as the geographic region in which they take place. The exhibit on the previous page summarizes the estimated net new economic and fiscal impacts that could be generated in Fredericksburg/Spotsylvania County associated with the Natatorium. These impacts represent one-time impacts from construction.

For purposes of this analysis, hard and soft construction costs associated with the Natatorium are assumed to approximate $58.0 million (as presented in the previous chapter CONSTRUCTION and detailed in Appendix A). ECONOMIC OUTPUT (ONE-TIME): The estimated economic output (direct spending plus indirect and induced spending) in $48.9M Fredericksburg/Spotsylvania County associated with the Natatorium construction period is estimated at $48.9 million (in 2021 dollars). This impact figure is lower than the assumed total construction cost expenditures amount due to the assumed leakage of a subset of materials and labor spending outside of Fredericksburg/Spotsylvania County.

(B) In-Facility Impacts (ongoing)

Direct spending is generated through the operations of the Natatorium (represented through operating revenues) driven by utilization, attendees, renting organizations, and user fees. This spending occurs with respect to items such as pool and facilities rentals, registration fees, admissions, food and beverage, retail sales, sponsorship and advertising, and other such in- facility purchases.

Economic impacts are further increased through re-spending of the direct spending. The total impact is estimated by applying an economic multiplier to initial direct spending to account IN-FACILITY for the total economic impact. The total output multiplier is used to estimate the aggregate ECONOMIC OUTPUT (ANNUAL): total spending that takes place beginning with direct spending and continuing through each successive round of re-spending. Successive rounds of re-spending are generally discussed $1.9M in terms of their indirect and induced effects on the area economy. Estimated “net new” in- facility economic impacts associated with the operation of the new Natatorium is summarized below.

Upon stabilization, annual in-facility economic output in the Fredericksburg/Spotsylvania County area associated with the new Natatorium are estimated at approximately $1.9 million.

Outside the Natatorium itself, additional direct spending is generated in the local area by swimmers, coaches/staff, spectators and other event attendees on lodging, food and beverage, retail, entertainment, transportation, etc. in connection with their visit to the area. Upon stabilization of operations, the estimated out-of-facility economic output in Fredericksburg/Spotsylvania County associated with the operation of the new Natatorium is $17.2 million per annum. OUT-OF-FACILITY ECONOMIC OUTPUT (ANNUAL): Economic impacts are further increased through re-spending of the direct spending. The total impact is estimated by applying an economic multiplier to initial direct spending to account $17.2M for the total economic impact. The total output multiplier is used to estimate the aggregate total spending that takes place beginning with direct spending and continuing through each successive round of re-spending. Successive rounds of re-spending are generally discussed in terms of their indirect and induced effects on the area economy.

Natatorium Feasibility Study for the Fredericksburg / Spotsylvania County Regional Area ● Page 64 6 COST / BENEFIT ANALYSIS

(D) Qualitative Impacts / Other Benefits

In addition to the previously presented quantifiable benefits, some benefits related to the construction and operation of the new Natatorium cannot be quantitatively measured. Beyond the economic activity and jobs indirectly provided, these types of non- quantifiable impacts of a project of this nature and scope can serve to elevate Fredericksburg/Spotsylvania County’s profile and brand as a visitor destination and as a quality place to live, work, learn and play.

In fact, these qualitative benefits tend to be a critical factor in the consideration of public and private investment in projects of this nature, particularly those involving a major public facility investment like a Natatorium. These include issues pertaining to quality of life and wellness, ancillary economic development facilitation, employment opportunities, support for local universities and schools, community pride and other such issues.

Potential non-quantifiable benefits could include:

• Potential Transformative and Iconic Effects – High profile, state-of-the-industry Natatorium projects, like the proposed facility project in Fredericksburg/Spotsylvania County, can have extensive, long-lasting transformative impacts on the local community and destination, in terms of quality of life, community prestige, perception by visitors and non-locals, and other such effects. • Quality of Life for Residents – New/enhanced athletic and recreation facilities (such as aquatic centers and natatoriums) provide diversified activities for local residents and families, which can make Fredericksburg/Spotsylvania County a more attractive and enjoyable place to reside. Quality athletic and recreation facilities can contribute to enhancing community pride, self-image, exposure and reputation. All these items can assist in retaining and attracting an educated workforce, particularly younger adults who often desire quality athletic, fitness, leisure and recreational amenities. • Support of Key Area Educational Institutions – The study suggests that a number of key local area universities and schools are underserved with the existing supply of local aquatic facilities. The opportunity for the athletics, intramural and recreational programs at UMW and local high schools to regularly use a conveniently-located state-of-the-industry Natatorium will enhance each of the respective school’s programs and allow for growth. • New Visitation – New visitors will be attracted to the area because of activity hosted at the new Natatorium. These attendees, in turn, may elect to return to the area later with their families, etc. for a vacation after visiting the area for the first time. • Spin-Off Development – New retail/business tend to invariably sprout up near major event or athletic facility projects like modern natatoriums, spurred by the operations and activities associated with the facility, representing additions to the local tax base. Enhanced economic growth and ancillary private sector development (or improvement) surrounding the ultimate site for a new Natatorium in Fredericksburg/Spotsylvania County may be spurred by the investment in the project. • Anchor for Revitalization – Natatorium development can oftentimes serve as an anchor for larger site area master plans and revitalization efforts. Natatoriums can attract more than a hundred thousand swimmers and spectators annually. This added visitation in a subdistrict can be critical to the health and vitality of existing nearby businesses, as well as providing the incentive for future investment by the private sector in business improvements and expansions. • Other Benefits – Increased synergy with the other athletic, event, hospitality and entertainment facilities can lead to increased tourism activity to Fredericksburg/Spotsylvania County.

Natatorium Feasibility Study for the Fredericksburg / Spotsylvania County Regional Area ● Page 65 6 COST / BENEFIT ANALYSIS

Summary & Key Projections

Based on analysis results, a summary of key cost/benefit projections for a new Natatorium in Fredericksburg/Spotsylvania County associated with its construction and annual operations is presented below (upon stabilization of operations, in 2021 dollars). Further detail surrounding all the assumptions, calculations and projections that were developed are presented in Appendix B at the conclusion of this report.

ANNUAL PROGRAM ANNUAL ANNUAL LANE HOURS SWIM MEETS ATTENDANCE 51,275 28 185,000

ANNUAL ANNUAL CONSTRUCTION OPERATING REVENUE HOTEL RM NIGHTS PERIOD IMPACT $1.9M 17,900 $48.9M

ANNUAL ANNUAL ANNUAL DIRECT INDIRECT/INDUCED ECONOMIC SPENDING SPENDING OUTPUT $11.3M + $7.8M = $19.1M

ANNUAL ANNUAL ANNUAL PERSONAL EMPLOYMENT COUNTY TAX INCOME (FULL & PART-TIME JOBS) REVENUE $7.9M 246 $0.5M

Natatorium Feasibility Study for the Fredericksburg / Spotsylvania County Regional Area ● Page 66 APPENDIX A: CONCEPT CONSTRUCTION COST DETAIL

A Concept/Feasibility Cost Estimate Mary Washington College Natatorium

Fredericksburg, VA

Submitted to;

CSL

5/7/2021 ( 5/12/21 Updated)

Submitted By:

M.A. + Associates, LLC Laurel, Md 20707 CLARIFICATIONS/ASSUMPTIONS

Purpose of Estimate. This cost estimate has been prepared pursuant to an agreement between CSL/CHA and M.A. + Associates, LLC (MAA), for the purpose of establishing the a valid cost opinion for a proposed Natatorium for the College of Mary Washington located in Fredericksburg, Virginia

Project Description: This project is for the construction of a new Aquatic/Recreational Facility, Site Development and Site Infrastructure. The units costs are consistent with higher education/university campus architectural themes and finishes.

Basis of Cost : This estimate has been prepared for this Feasibility Study based a facility program provided in April 2021 as well information and clarifications received thereafter. The estimate is based upon quantity take- offs from the program document and a set of assumptions where verifiable data is not available or has not been provided at the time the program was received, as well as parametric measurements where applicable data has not been provided. Vendor Price quotes have been added under each line item where applicable. Other costs are based on the 2021cost data from projects od a similar size and use.

Basic for Pricing: Pricing shown reflects probable construction costs in Fredericksburg, Virginia as on the date of this estimate. The intention of this estimate is to reflect fair market value for the construction of this project. It is not a prediction of low bid. This estimate assumes at least (5) General Contractors competitively bidding on this project. After three (30) days this estimate should be updated for current market conditions. Vendor quotes are only for materials and do not include the cost of installation. Additional labor costs are added to the estimate and are based on the rates set forth for Fredericksburg, Virginia.

Escalation: N/A

GC Overhead and Profit: 6%

Contingencies/Taxes: Design Contingency at 10%, and 6% Sales tax has been included on all materials & equipment.

Items Affecting the Cost Estimate: Items which may change the estimated cost include, but are not limited to; (1) Non-competitive bid conditions (2). Modifications to the scope of work in estimate (3). Restrictive technical specifications of materials or products. (4). Cost of material and products (5). Bids delayed beyond the projected schedule (6). Unforeseen subsurface conditions.

Items that are not in this estimate include but are not limited to:(1). Furnishings and equipment other than those shown in the body of the estimate (2). Premium costs for work done in phases, out of sequence or out of hours (3). Hazardous material abatement (4). Cost of delays created by security requirements (8). Impact fees and permits. Statement of Probable Cost: This estimate is based on information available at this time. The scope of this estimate should be reviewed to ensure compliance with the program. This estimate should be updated as the design evolves. MA + A has no control over the cost of labor and material the general contractor's method of determining prices, or competitive bidding and market conditions. This estimate represents MA + A's opinion of probable construction costs for this project on the basis of experience, qualifications, and best judgment of a cost consultant familiar with the construction industry. MA +A staff have prepared this estimate in accordance with generally accepted principles and practices.

Recommendations For Cost Control: MAA recommends that the Owner, Architect and Engineers review this entire document to ensure that it reflects their design intent. Requests for modifications of any apparent errors or omissions to this document should be made to MA + A within five (5) days of receipt of this estimate. Otherwise, it will be understood that the contents have been agreed on and accepted. Any unresolved budgeting issues or alternative schemes should be evaluated prior to proceeding further into design

Labor Rates: Craft labor rates are based on Davis Bacon wage rates for the Fredericksburg, Virginia. The rates are based on Non-Union Wages for Heavy and Building Construction. The Labor Rates are based on the most current publication and include fringe benefits. Summary - CMW Natatorium 5/7/21 Main Bldg and Site Concept Cost Estimate Summary

Gross Square Feet 76,577

Estimated % SF CSI Items Direct Cost Const.Costs Foot Cost

Primary Facility $ 28,650,110 49% $ 374.13 01 General Requirements $ 900,000 1.6% $ 11.75 03 Concrete $ 2,715,497 4.7% $ 35.46 04 Masonry $ 2,358,572 4.1% $ 30.80 05 Metals $ 2,537,181 4.4% $ 33.13 06 Woods & Plastics ( Included In Finishes) $ - 0.0% $ - 07 Thermal/Moisture Protection $ 1,847,340 3.2% $ 24.12 08 Doors/Windows/Glazing $ 2,131,906 3.7% $ 27.84 09 Finishes/Interior Fit-Out $ 4,274,254 7.4% $ 55.82 10 Accessories $ 142,703 0.2% $ 1.86 11 Equipment $ 549,200 0.9% $ 7.17 12 Furnishings $ 253,438 0.4% $ 3.31 13 Pool Construction $ 10,906,108 18.8% $ 142.42 14 Elevator(s)/Conveying Systems $ 33,912 0.1% $ 0.44 21 Fire Suppression $ 334,641 0.6% $ 4.37

22 Plumbing $ 924,151 1.6% $ 12.07

23 HVAC $ 6,270,712 10.8% $ 81.89

26 Electric $ 4,087,692 7.1% $ 53.38

27 Comm/Data $ 203,145 0.4% $ 2.65

28 Electronic Security $ 193,510 0.3% $ 2.53

Subtotal - Building $ 40,663,963 70% $ 531.02

02 Existing Conditions $ - 0.0% $ -

31 Earthwork $ 1,438,681 2.5% $ 18.79

32 Exterior Improvements $ 1,758,433 3.0% $ 22.96

33 Site Utilities $ 1,327,227 2.3% $ 17.33

Subtotal - Site $ 4,524,340 8% $ 59.08

Subtotal - Direct Cost $ 45,188,303 78% $ 590.10

Design Contingency at 10% $ 4,518,830 7.8% $ 59.01

Escalation @4% (Per Annum) N/A $ - 0.0% $ -

General Conditions @ 10% $ 4,970,713 8.6% $ 64.91

GC OH & P @ 6% $ 3,280,671 5.7% $ 42.84

Construction Cost Limit(CCL) $ 57,958,518 100% $ 756.87

Page 4 of 11 Detail CMW Natatorium 5/7/21 Main Bldg. Concept Cost Estimate

Main Level 76,577 SF Perimeter 1,200 LF

Total GSF 76,577 SF

Hourly Rate Unit Mat Labor Hours Material Labor Eqiup/ Unit Cost Extended Unit Item/Detail Qty. U.O.M. Subcont. Cost

01 - General Requirements Site Management, Project Coordination, QC, Etc 36 Months 25,000.00 900,000.00

01-Subtotal $3.48 $900,000

03- Concrete Concrete Footing/Slab on Grade/Foundation/Piers Ftgs Concrete Footing/Slab on Grade/Foundation/Piers Ftgs 76,577 SQFT $ 61.50 0.00 0.55 0.00 2,590,217.03 33.83 2,590,217.03 2,590,217 Precast Concrete Ext. Wall Precast Concrete Ext. Wall 3,600 SQFT $ 61.50 22.50 0.20 81,000.00 44,280.00 34.80 125,280.00 125,280

03-Subtotal $35.46 $2,715,497

04 - Masonry Brick Veneer/Masonry/Stone/Sills/CMU Brick Veneer/Masonry/Stone/Sills 76,577 SQFT $ 61.50 18.50 0.20 1,416,674.50 941,897.10 30.80 2,358,571.60 2,358,572

04-Subtotal $30.80 $2,358,571.60

05 - Metals Structural Steel/Misc. Steel: Structural Steel/Misc. Steel 400 TONS $ 61.50 4,150.00 24.00 1,660,000.00 590,400.00 5,626.00 2,250,400.00 Steel Decking: Metal Decking 76,577 SQFT $ 61.50 1.90 0.03 145,496.30 141,284.57 3.75 286,780.87 2,537,181

05-Subtotal $33.13 $2,537,181

06 - Wood/Plastics

06-Subtotal $0.00 $0.00

07 - Thermal/Moisture Protection Exterior Cladding Exterior Wall Rain Screen System 17,280 SQFT $ 61.50 45.00 0.05 777,600.00 53,136.00 48.08 830,736.00 830,736 Roofing: ParapetModified Wall, Bitumen 2' Hit Roof (Assumed) System w/ Precast 76,577 SQFT $ 61.50 9.00 0.04 689,193.00 188,379.42 11.46 877,572.42 Stone Cap and Flashing 1,200 LNFT $ 61.50 4.00 0.05 4,800.00 3,690.00 7.08 8,490.00 886,062 Fire Proofing: Misc. Fireproofing/Fire Stopping 76,577 SQFT $ 61.50 0.02 0.01 1,531.54 23,547.43 0.33 25,078.97 25,079 Caulking/Sealants: Exterior Caulking 29,500 LNFT $ 61.50 0.50 0.05 14,750.00 90,712.50 3.58 105,462.50 105,463

07-Subtotal $24.12 $1,847,339.89

08 - Doors/Windows/Glazing/Louvers Metal Louvers Metal Louvers 200 SQFT $ 61.50 30.00 1.00 6,000.00 12,300.00 91.50 18,300.00 18,300

Page 5 of 11 Detail CMW Natatorium 5/7/21 Main Bldg. Concept Cost Estimate

Hourly Rate Unit Mat Labor Hours Material Labor Eqiup/ Unit Cost Extended Unit Item/Detail Qty. U.O.M. Subcont. Cost Interior Doors & Hardware Interior Doors & Hardware 100 EACH $ 61.50 2,500.00 8.00 250,000.00 49,200.00 2,992.00 299,200.00 299,200 Overhead Doors/Specialty Doors OH Coiling Doors 10' x 10' 2 EACH $ 61.50 2,670.00 12.00 5,340.00 1,476.00 3,408.00 6,816.00 6,816 Ext. Doors & Frames PR 3'x7' FRP Doors Half Glass 5 EACH $ 61.50 3,250.00 9.00 16,250.00 2,767.50 3,803.50 19,017.50 3'x7' FRP Door 2 EACH $ 61.50 1,550.00 4.00 3,100.00 492.00 1,796.00 3,592.00 PR 3'x7' FRP Doors 1 EACH $ 61.50 2,350.00 8.00 2,350.00 492.00 2,842.00 2,842.00 3'x7' FRP Door Half Glass 6 EACH $ 61.50 1,775.00 4.00 10,650.00 1,476.00 2,021.00 12,126.00 37,578 Aluminum Doors/Storefront/Glazing Aluminum Entry Doors 10 EACH $ 61.50 7,550.00 2.50 75,500.00 1,537.50 7,703.75 77,037.50 Exterior Glazing 11,520.0 SQFT $ 61.50 110.00 0.50 1,267,200.00 354,240.00 140.75 1,621,440.00 Interior Curtainwall 1,000 SQFT $ 61.50 66.00 0.09 66,000.00 5,535.00 71.54 71,535.00 1,770,013

08-Subtotal $27.84 $2,131,906.00

09 - Finishes/Interior Fitout PUBLIC Vestibule 180 SQFT $ 61.50 20.00 0.25 3,600.00 2,767.50 35.38 6,367.50 Lobby 300 SQFT $ 61.50 20.00 0.25 6,000.00 4,612.50 35.38 10,612.50 Front Desk/Check-in/Reception 200 SQFT $ 61.50 50.00 0.25 10,000.00 3,075.00 65.38 13,075.00 Lounge/Seating 300 SQFT $ 61.50 25.00 0.25 7,500.00 4,612.50 40.38 12,112.50 Men's Restroom 360 SQFT $ 61.50 25.00 0.30 9,000.00 6,642.00 43.45 15,642.00 Women's Restroom 640 SQFT $ 61.50 25.00 0.30 16,000.00 11,808.00 43.45 27,808.00 Family Restroom 80 SQFT $ 61.50 25.00 0.30 2,000.00 1,476.00 43.45 3,476.00 Retail/Pro-Shop 500 SQFT $ 61.50 30.00 0.25 15,000.00 7,687.50 45.38 22,687.50 Junior Club Room 800 SQFT $ 61.50 30.00 0.25 24,000.00 12,300.00 45.38 36,300.00 Multi-purpose Rooms 2250 SQFT $ 61.50 25.00 0.25 56,250.00 34,593.75 40.38 90,843.75 Multi-purpose Room Storage 420 SQFT $ 61.50 15.00 0.10 6,300.00 2,583.00 21.15 8,883.00 Café Kitchen/Service Line 250 SQFT $ 61.50 35.00 0.30 8,750.00 4,612.50 53.45 13,362.50 Café Kitchen Storage 150 SQFT $ 61.50 15.00 0.10 2,250.00 922.50 21.15 3,172.50 Café Seating Area 300 SQFT $ 61.50 25.00 0.25 7,500.00 4,612.50 40.38 12,112.50 6,730 41.08 276,455.25 ADMINISTRATION Reception 150 SQFT $ 61.50 50.00 0.25 7,500.00 2,306.25 65.38 9,806.25 Offices 360 SQFT $ 61.50 25.00 0.25 9,000.00 5,535.00 40.38 14,535.00 Storage 100 SQFT $ 61.50 15.00 0.10 1,500.00 615.00 21.15 2,115.00 610 43.37 26,456.25 LOCKER ROOMS/CHANGING Team Locker Rooms 720 SQFT $ 61.50 25.00 0.30 18,000.00 13,284.00 43.45 31,284.00 Team Locker Rooms - Toilet/Shower 600 SQFT $ 61.50 25.00 0.30 15,000.00 11,070.00 43.45 26,070.00 Visiting Team Locker Room 580 SQFT $ 61.50 25.00 0.30 14,500.00 10,701.00 43.45 25,201.00

Visiting Team Locker Room - Toilet/Shower 520 SQFT $ 61.50 25.00 0.30 13,000.00 9,594.00 43.45 22,594.00 Men's Locker Room 670 SQFT $ 61.50 25.00 0.30 16,750.00 12,361.50 43.45 29,111.50 Men's Locker Room - Toilet/Shower 540 SQFT $ 61.50 25.00 0.30 13,500.00 9,963.00 43.45 23,463.00 Men's sauna 140 SQFT $ 61.50 40.00 0.30 5,600.00 2,583.00 58.45 8,183.00 Women's Locker Room 670 SQFT $ 61.50 25.00 0.30 16,750.00 12,361.50 43.45 29,111.50 Women's Locker Room - Toilet/Shower 540 SQFT $ 61.50 25.00 0.30 13,500.00 9,963.00 43.45 23,463.00 Women's Sauna 140 SQFT $ 61.50 40.00 0.30 5,600.00 2,583.00 58.45 8,183.00 Single Occupancy Changing/Restroom/Showers 360 SQFT $ 61.50 25.00 0.30 9,000.00 6,642.00 43.45 15,642.00 5,480 44.22 242,306.00 NATATORIUM Primary Natatorium 32,500 SQFT $ 61.50 40.00 0.25 1,300,000.00 499,687.50 55.38 1,799,687.50 Primary Natatorium Spectator Seating 5,200 SQFT $ 61.50 40.00 0.25 208,000.00 79,950.00 55.38 287,950.00 Primary Natatorium Storage 480 SQFT $ 61.50 15.00 0.10 7,200.00 2,952.00 21.15 10,152.00 Primary Natatorium Filtration 850 SQFT $ 61.50 15.00 0.10 12,750.00 5,227.50 21.15 17,977.50 Primary Natatorium Chemical Room 216 SQFT $ 61.50 15.00 0.10 3,240.00 1,328.40 21.15 4,568.40 Wellness Pool 3,750 SQFT $ 61.50 40.00 0.25 150,000.00 57,656.25 55.38 207,656.25 Wellness Pool Storage 120 SQFT $ 61.50 15.00 0.10 1,800.00 738.00 21.15 2,538.00 Wellness Pool Filtration/Chemical Room 240 SQFT $ 61.50 15.00 0.10 3,600.00 1,476.00 21.15 5,076.00 Lifeguard 540 SQFT $ 61.50 20.00 0.25 10,800.00 8,302.50 35.38 19,102.50

Page 6 of 11 Detail CMW Natatorium 5/7/21 Main Bldg. Concept Cost Estimate

Hourly Rate Unit Mat Labor Hours Material Labor Eqiup/ Unit Cost Extended Unit Item/Detail Qty. U.O.M. Subcont. Cost Lifeguard Reception 120 SQFT $ 61.50 22.00 0.25 2,640.00 1,845.00 37.38 4,485.00 Lifeguard Offices 330 SQFT $ 61.50 22.00 0.25 7,260.00 5,073.75 37.38 12,333.75 First Aid 150 SQFT $ 61.50 22.00 0.26 3,300.00 2,361.60 37.74 5,661.60 44,496 53.42 2,377,188.50 FITNESS CENTER Fitness Areas 120 SQFT $ 61.50 25.00 0.25 3,000.00 1,845.00 40.38 4,845.00 Fitness Storage 240 SQFT $ 61.50 25.00 0.25 6,000.00 3,690.00 40.38 9,690.00 Personal Training Offices 540 SQFT $ 61.50 25.00 0.25 13,500.00 8,302.50 40.38 21,802.50 Spin Room 120 SQFT $ 61.50 25.00 0.25 3,000.00 1,845.00 40.38 4,845.00 Group Fitness Rooms 330 SQFT $ 61.50 25.00 0.25 8,250.00 5,073.75 40.38 13,323.75 Group Fitness Storage 150 SQFT $ 61.50 25.00 0.25 3,750.00 2,306.25 40.38 6,056.25 1,500 40.38 60,562.50 BUILDING SUPPORT Mechanical 450 SQFT $ 61.50 15.00 0.10 6,750.00 2,767.50 21.15 9,517.50 Electrical 200 SQFT $ 61.50 15.00 0.10 3,000.00 1,230.00 21.15 4,230.00 Janitor 240 SQFT $ 61.50 15.00 0.10 3,600.00 1,476.00 21.15 5,076.00 Trash/Recycling 150 SQFT $ 61.50 15.00 0.10 2,250.00 922.50 21.15 3,172.50 Building Storage 250 SQFT $ 61.50 15.00 0.10 3,750.00 1,537.50 21.15 5,287.50 1,290 21.15 27,283.50 Special Finishes Special Finishes - Allowance 76,577 SQFT $ 61.50 10.00 0.10 765,770.00 470,948.55 16.15 1,236,718.55 1,264,002

09-Subtotal $55.82 $4,274,254.05

10 - Specialties Toilet Accessories/Partitions: Toilet Accessories/Partitions: 10 EACH $ 61.50 1,050.00 3.00 10,500.00 1,845.00 1,234.50 12,345.00 12,345 Signage: Interior Signage - Allowance 76,577 SQFT $ 61.50 0.1000 0.005 7,657.70 23,547.43 0.41 31,205.13 Site Signage - Allowance 1 ALLOW $ 61.50 25,000.00 40.000 25,000.00 2,460.00 27,460.00 27,460.00 58,665 Lockers Lockers - Allowance 145 EACH $ 61.50 360.00 1.00 52,200.00 8,917.50 421.50 61,117.50 61,118 Fire Extinguisher Cabinets: Fire Extinguisher Cabinets 50 EACH $ 61.50 150.00 1.00 7,500.00 3,075.00 211.50 10,575.00 10,575

10-Subtotal $1.86 $142,703

11 - Equipment Equipment: Misc. Equipment 1 ALLOW $ 61.50 500,000.00 800.00 500,000.00 49,200.00 549,200.00 549,200.00 549,200

11-Subtotal $7.17 $549,200

12 - Furnishings Floor Finishes: Walk Off Mat 400 SQFT $ 61.50 34.00 0.05 13,600.00 1,230.00 37.08 14,830.00 14,830 Roller Shades: Window Shades - Manual 9,600 SQFT $ 61.50 6.00 0.02 57,600.00 11,808.00 7.23 69,408.00 69,408 Bleachers: Bleachers 800 SEATS $ 61.50 150.00 1.00 120,000.00 49,200.00 211.50 169,200.00 169,200

12-Subtotal $3.31 $253,438.00

13 - Special Construction Competition Pool 50M Competition Pool 50M, Filtration, Dehumidification, Etc 32,500 SQFT 215.00 6,987,500.00

Page 7 of 11 Detail CMW Natatorium 5/7/21 Main Bldg. Concept Cost Estimate

Hourly Rate Unit Mat Labor Hours Material Labor Eqiup/ Unit Cost Extended Unit Item/Detail Qty. U.O.M. Subcont. Cost Gutters 500 LNFT 160.00 80,000.00 7,067,500 Wellness Pool 30' x 60' Wellness Pool 30' x 60', Filtration, Dehumidification, Etc. 3,750 SQFT 1,000.00 3,750,000.00 Gutters 120 LNFT 160.00 19,200.00 3,769,200 Roller Shades: Window Shades - Manual 9,600 SQFT $ 61.50 6.00 0.02 57,600.00 11,808.00 7.23 69,408.00 69,408

13-Subtotal $142.42 $10,906,108

14 - Conveying Systems Chair Lift Chair Lift 2 EACH $ 81.50 15,000.00 24.00 30,000.00 3,912.00 16,956.00 33,912.00 33,912

14-Subtotal $0.44 $33,912

21 - Fire Suppression Wet Sprinkler Fire Protection - Wet System 76,577 SQFT $ 79.00 2.00 0.03 153,154.00 181,487.49 4.37 334,641.49 334,641

21-Subtotal $4.37 $334,641

22 - Plumbing Plumbing Fixtures/Equipment Water Closet, Floor Mtd 40 EACH $ 79.00 1,250.00 3.00 50,000.00 9,480.00 1,487.00 59,480.00 Domestic Water Piping Domestic Water Piping 76,577 SQFT $ 79.00 5.00 0.02 382,885.00 109,315.96 6.43 492,200.96 Sanitary/Storm Drain Piping Sanitary, Vent & Storm Drain Piping 76,577 SQFT $ 79.00 2.00 0.01 153,154.00 60,495.83 2.79 213,649.83 Natural Gas Piping Natural Gas Piping 76,577 SQFT $ 79.00 0.80 0.01 61,261.60 66,545.41 1.67 127,807.01 Plumbing General Conditions Plumbing General Conditions 76,577 SQFT $ 79.00 0.01 0.01 765.77 30,247.92 0.41 31,013.69

22-Subtotal $12.07 $924,151.49

23 - HVAC HVAC Equipment HVAC Equipment 76,577 SQFT $ 79.00 15.00 0.10 1,148,655.00 604,958.30 22.90 1,753,613.30 CW Piping CW Piping 76,577 SQFT $ 79.00 8.00 0.02 612,616.00 109,315.96 9.43 721,931.96 HW Piping HW Piping 76,577 SQFT $ 79.00 6.00 0.03 459,462.00 181,487.49 8.37 640,949.49 Condenser Water Piping Condenser Water Piping 76,577 SQFT $ 79.00 1.00 0.01 76,577.00 60,495.83 1.79 137,072.83 Steam/Condensate Piping Steam . Cond. Piping 76,577 SQFT $ 79.00 0.40 0.00 30,630.80 6,049.58 0.48 36,680.38 Heat Recovery Piping Heat Rec. Piping 76,577 SQFT $ 79.00 1.00 0.00 76,577.00 6,049.58 1.08 82,626.58 Condensate Drain Piping Cond. Drain Piping 76,577 SQFT $ 79.00 0.20 0.00 15,315.40 9,074.37 0.32 24,389.77 Air Distribution Galv. Steel Ductwork 155,000 LBS $ 79.00 5.00 0.05 775,000.00 612,250.00 8.95 1,387,250.00 Spiral Steel Ductwork 1,200 LNFT $ 79.00 55.00 0.50 66,000.00 47,400.00 94.50 113,400.00 SST Ductwork 300 LBS $ 79.00 13.00 0.08 3,900.00 1,896.00 19.32 5,796.00 Duct Insulation 80,000 SQFT $ 79.00 2.60 0.02 208,000.00 94,800.00 3.79 302,800.00 VAV 100 EACH $ 79.00 760.00 1.00 76,000.00 7,900.00 839.00 83,900.00 Duct Access., Dampers, Etc.. 76,577 SQFT $ 79.00 0.20 0.01 15,315.40 30,247.92 0.60 45,563.32 Registers & Diffusers 1,250 EACH $ 79.00 126.00 0.25 157,500.00 24,687.50 145.75 182,187.50 Shop Drawings/Submittals 1 JOB $ 79.00 25,000.00 300.00 25,000.00 23,700.00 48,700.00 48,700.00

Page 8 of 11 Detail CMW Natatorium 5/7/21 Main Bldg. Concept Cost Estimate

Hourly Rate Unit Mat Labor Hours Material Labor Eqiup/ Unit Cost Extended Unit Item/Detail Qty. U.O.M. Subcont. Cost Air Test & Balance Testing & Balancing 1 JOB $ 79.00 30,000.00 400.00 30,000.00 31,600.00 61,600.00 61,600.00 DDC Controls Controls 76,577 SQFT $ 79.00 4.00 0.05 306,308.00 302,479.15 7.95 608,787.15 HVAC General Conditions Rigging, Commissioning, Fire Stopping, Etc 76,577 SQFT $ 79.00 0.20 0.00 15,315.40 18,148.75 0.44 33,464.15

24-Subtotal $81.89 $6,270,712.44

26 - Electric Large Power & Distribution: Large Power & Distribution: 76,577 SQFT $ 79.00 20.00 0.02 1,531,540.00 120,991.66 21.58 1,652,531.66 Large Power Conduit Power Feeders 2,500 LNFT $ 79.00 90.00 0.70 225,000.00 138,250.00 145.30 363,250.00 Emergency Power Dist. Emergency Power Dist. 76,577 SQFT $ 79.00 0.30 0.02 22,973.10 120,991.66 1.88 143,964.76 Mech.Equip. Connections Equipment Connections 125 EACH $ 79.00 950.00 2.00 118,750.00 19,750.00 1,108.00 138,500.00 Small Equip. Connections Small Equip. Connections 100 EACH $ 79.00 250.00 1.25 25,000.00 9,875.00 348.75 34,875.00 Small Power Devices Small Power Devices 76,577 SQFT $ 79.00 3.50 0.02 268,019.50 120,991.66 5.08 389,011.16 Light Fixtures & Wire Light Fixtures & Wire 76,577 SQFT $ 79.00 8.00 0.03 612,616.00 181,487.49 10.37 794,103.49 Light Fixtures & Controls Wire Light Fixtures & Controls Wire 76,577 SQFT $ 79.00 1.50 0.01 114,865.50 60,495.83 2.29 175,361.33 Grounding & Lightning Prot. Grounding & Lightning Prot. 76,577 SQFT $ 79.00 0.30 0.01 22,973.10 36,297.50 0.77 59,270.60 Metering Metering 76,577 SQFT $ 79.00 2.00 0.00 153,154.00 6,049.58 2.08 159,203.58 Clock System Clock System/Time 76,577 SQFT $ 79.00 0.09 0.00 6,891.93 6,049.58 0.17 12,941.51 Misc. Electric Temp. Power, Commissioning Support, Seismic Bracing, Etc… 76,577 SQFT $ 79.00 1.00 0.00 76,577.00 9,074.37 1.12 85,651.37 Site Lighting Site Lighting 76,577 SQFT $ 79.00 0.10 0.01 7,657.70 36,297.50 0.57 43,955.20 Electrical General Conditions Commissioning, Testing, Rigging 76,577 SQFT $ 79.00 0.30 0.00 22,973.10 12,099.17 0.46 35,072.27

26-Subtotal $53.38 $4,087,691.93

27 - Data/Comm Tele/Data Systems Cabling, Conduit, Fiber, Etc 76,577 SQFT $ 79.00 0.10 0.02 7,657.70 120,991.66 1.68 128,649.36 AV Systems AV Rough-In (Allowance) 1 JOB $ 79.00 65,000.00 120.20 65,000.00 9,495.80 74,495.80 74,495.80

27-Subtotal $0.79 $203,145.16

28 - Security Systems Fire Alarm System Cabling, Conduit, Fiber, Etc, 76,577 SQFT $ 79.00 1.00 0.01 76,577.00 60,495.83 1.79 137,072.83 CCTV/Survellance Cameras, Wring, Headend, Etc. 76,577 SQFT $ 79.00 0.50 0.00 38,288.50 18,148.75 0.74 56,437.25

28-Subtotal $0.75 $193,510.08

Page 9 of 11 Detail - CMW Natatorium 5/7/21 Sitework Concept Cost Estimate

Site 280,000 SF Perimeter 2,400 LF Total GSF 280,000 SF

Hourly Unit Mat Labor Hours Material Labor Eqiup/ Unit Cost Extended Unit Cost Item/Detail Qty. U.O.M. Rate Subcont.

02 - Existing Conditions

02-Subtotal $0.00 $0.00

31 - Earthwork Clearing & Grubbing: Site Clearing, Grubbing., Demo & Hauling 6.4 ACRES $ 61.50 75.00 0.00 29,352.27 20,000.00 7,755.36 49,352.27 Stripping Topsoil: Haul Borrow/Stockpile On-Site 61,262 CUYD $ 61.50 0.00 0.20 0.00 753,517.68 12.30 753,517.68 Import Fill, Spread & Compact - New Topsoil 10,000 SQYD $ 61.50 16.00 0.09 160,000.00 55,350.00 21.54 215,350.00 Erosion Control: Tree Protection - Allowance 50 EACH $ 61.50 25.00 0.50 1,250.00 1,537.50 55.75 2,787.50 Silt Fence 1,000 LNFT $ 61.50 1.25 0.04 1,250.00 2,460.00 3.71 3,710.00 Super Silt Fence 2,400 LNFT $ 61.50 5.10 0.05 12,240.00 7,380.00 8.18 19,620.00 Construction Entrance 2 EACH $ 61.50 1,200.00 24.00 2,400.00 2,952.00 2,676.00 5,352.00 Super Diversion Fence 400 LNFT $ 61.50 6.00 0.06 2,400.00 1,476.00 9.69 3,876.00 Curb Inlet Protection 10 EACH $ 61.50 125.00 1.00 1,250.00 615.00 0.10 186.51 1,865.10 Inlet Protection 300 LNFT $ 61.50 150.00 1.00 45,000.00 18,450.00 0.10 211.50 63,450.10 Site Excavation: Rough Grading 31,111 SQYD $ 61.50 0.00 0.05 0.00 95,666.67 0.10 3.08 95,666.77 Fine Grading 31,111 SQYD $ 61.50 0.00 0.04 0.00 76,533.33 2.46 76,533.33 Foundation Cut/Fill 6,000 CUYD $ 61.50 0.00 0.40 0.00 147,600.00 24.60 147,600.00

31-Subtotal $18.79 $1,438,680.75

32-Site Improvements Bituminous Paving: Asphalt Paving - Roadwys 3,000 SQYD $ 61.50 27.50 0.50 82,500.00 92,250.00 58.25 174,750.00 Parking Spaces 300 Spaces $ 61.50 300.00 14.00 90,000.00 258,300.00 1,161.00 348,300.00 Pre-cast Conc. Wheelstops 300 EACH $ 61.50 40.00 0.30 12,000.00 5,535.00 58.45 17,535.00 Paving Marking 300 EACH $ 61.50 10.00 1.50 3,000.00 27,675.00 102.25 30,675.00 Paving Marking - HC 30 EACH $ 61.50 70.00 2.00 2,100.00 3,690.00 193.00 5,790.00 Granular Base 3,000 SQYD $ 61.50 5.75 0.06 17,250.00 11,070.00 9.44 28,320.00 Pervious Paving 533 SQYD $ 61.50 38.60 0.50 20,573.80 16,389.75 69.35 36,963.55 Concrete Paving: Conc. Walkways 32,241 SQFT $ 61.50 1.25 0.07 40,301.25 138,797.51 5.56 179,098.76 Conc. Ramp 360 LNFT $ 61.50 250.00 4.00 90,000.00 88,560.00 496.00 178,560.00 Curb & Gutter: Conc. Curb & Gutter 5,000 LNFT $ 61.50 9.50 0.15 47,500.00 46,125.00 18.73 93,625.00 Misc. Site Items Flag Pole - 20' VF 1 EACH $ 61.50 3,000.00 12.00 3,000.00 738.00 3,738.00 3,738.00 Benches, Trash Receptacle, Bike Racks, Tables 1 JOB $ 61.50 20,000.00 40.00 20,000.00 2,460.00 22,460.00 22,460.00 Play Equipment 3 EACH $ 61.50 13,500.00 20.00 40,500.00 3,690.00 14,730.00 44,190.00 Site Concrete:

Site Concrete Foundations - Wall, Stairs, Water Features, Decks 20 CUYD $ 61.50 220.00 2.50 4,400.00 3,075.00 373.75 7,475.00 Trees & Plantings: BioRetention/SWM - Allow 1,100 SQYD $ 61.50 49.60 0.80 54,560.00 54,120.00 98.80 108,680.00 Under Drains, Drainage Stone 32,000 SQFT $ 61.50 1.40 0.01 44,800.00 19,680.00 2.02 64,480.00 Multi-Purpose Field - Sod 10,500 SQFT $ 61.50 2.00 0.01 21,000.00 6,457.50 2.62 27,457.50 Shrubs 200 EACH $ 61.50 75.00 1.00 15,000.00 12,300.00 136.50 27,300.00 Planting Soils 3,000 CUYD $ 61.50 25.00 0.20 75,000.00 36,900.00 37.30 111,900.00 Hydro Seeding 111,111 SQYD $ 61.50 0.20 0.02 22,222.22 136,666.67 1.43 158,888.89 Trees 44 EACH $ 61.50 410.00 1.00 18,040.00 2,706.00 471.50 20,746.00 Page 10 of 11 Detail - CMW Natatorium 5/7/21 Sitework Concept Cost Estimate

Hourly Unit Mat Labor Hours Material Labor Eqiup/ Unit Cost Extended Unit Cost Item/Detail Qty. U.O.M. Rate Subcont. Ground Cover 20,000 SQFT $ 61.50 0.30 0.05 6,000.00 61,500.00 3.38 67,500.00

32-Subtotal $22.96 $1,758,432.69

33 - Utilities Storm Drain: 24" RCP 1,600 LNFT $ 61.50 124.00 1.10 198,400.00 108,240.00 191.65 306,640.00 15" RCP 1,200 LNFT $ 61.50 65.00 0.80 78,000.00 59,040.00 114.20 137,040.00

60" Corrugated Metal Pipe/Gravel 400 LNFT $ 61.50 98.00 0.70 39,200.00 17,220.00 141.05 56,420.00 MH /Inlets 19 EACH $ 61.50 2,259.00 20.00 42,168.00 22,960.00 3,489.00 65,128.00 Foundation Drain 2,400 LNFT $ 61.50 8.90 0.08 21,360.00 11,808.00 13.82 33,168.00 Connect to Extg. SD 2 EACH $ 61.50 2,500.00 12.00 5,000.00 1,476.00 3,238.00 6,476.00 Utility Trenching/Backfill/Hauling 1,665 CUYD $ 61.50 20.00 0.50 33,307.65 51,210.52 50.75 84,518.17 Sanitary: 8" PVC 200 LNFT $ 61.50 120.00 0.75 24,000.00 9,225.00 166.13 33,225.00 MH 4 EACH $ 61.50 5,500.00 20.00 22,000.00 4,920.00 6,730.00 26,920.00 Connect to Extg. Sewer 1 EACH $ 61.50 5,100.00 22.00 5,100.00 1,353.00 6,453.00 6,453.00 Utility Trenching/Backfill/Hauling 61 CUYD $ 61.50 20.00 0.50 1,214.81 1,867.78 50.75 3,082.59 Water: DPW Vaults & Meters 1 ALLOW $ 61.50 50,000.00 0.00 50,000.00 0.00 50,000.00 50,000.00 6" Ductile Iron 300 LNFT $ 61.50 76.00 0.80 22,800.00 14,760.00 125.20 37,560.00 Fire Hydrant 4 EACH $ 61.50 3,876.00 8.00 15,504.00 1,968.00 4,368.00 17,472.00 Thrust Blocks 10 EACH $ 61.50 105.00 1.00 1,050.00 615.00 166.50 1,665.00 Connect to Extg. Water 1 EACH $ 61.50 5,500.00 24.00 5,500.00 1,476.00 6,976.00 6,976.00 Utility Trenching/Backfill/Hauling 93 CUYD $ 61.50 20.00 0.50 1,866.67 2,870.00 50.75 4,736.67 Site Electrical Power Primary power duct bank 4x5" 200 LNFT $ 79.91 62.00 0.50 12,400.00 7,991.00 101.96 20,391.00 Power Manholes 4.5x6x7 1 EACH $ 79.91 6,050.00 40.00 6,050.00 3,196.40 9,246.40 9,246.40 Secondary duct bank 16x5" 50 LNFT $ 79.91 242.00 2.00 12,100.00 7,991.00 401.82 20,091.00 300MCM XHHW str copper 2,000 LNFT $ 79.91 8.00 0.04 16,000.00 5,593.70 10.80 21,593.70 Checkout and test 1 EACH $ 79.91 0.00 80.00 0.00 6,392.80 6,392.80 6,392.80 Site Lighting Pole light fixture type A 24 EACH $ 79.91 3,630.00 12.00 87,120.00 23,014.08 4,588.92 110,134.08 Pole light fixture type C 20 EACH $ 79.91 2,420.00 12.00 48,400.00 19,178.40 3,378.92 67,578.40 Bollard type G 20 EACH $ 79.91 302.00 6.00 6,040.00 9,589.20 781.46 15,629.20 Pole bases 64 EACH $ 79.91 302.00 3.00 19,328.00 15,342.72 541.73 34,670.72 Bollard bases 20 EACH $ 79.91 121.00 2.00 2,420.00 3,196.40 280.82 5,616.40 Underground lighting circuits 6,400 LNFT $ 79.91 4.23 0.08 27,072.00 40,913.92 10.62 67,985.92 Site lighting controls 1 EACH $ 79.91 2,000.00 16.00 2,000.00 1,278.56 3,278.56 3,278.56 Checkout and test 1 LS $ 79.91 0.00 40.00 0.00 3,196.40 3,196.40 3,196.40 Site Telecom Telecom duct bank 16x4" 150 LNFT $ 79.91 242.00 2.00 36,300.00 23,973.00 401.82 60,273.00 Turnup conduits into MDF 8 EACH $ 79.91 121.00 4.00 968.00 2,557.12 440.64 3,525.12 Drag line 600 LNFT $ 79.91 0.00 0.003 0.00 143.84 0.24 143.84

33-Subtotal $17.33 $1,327,226.97

Page 11 of 11 APPENDIX B: UTILIZATION, FINANCIAL & ECONOMIC MODEL

B PROPOSED FREDERICKSBURG / SPOTSYLVANIA REGIONAL AREA NATATORIUM Appendix B: Utilization, Financial & Economic Model

Construction Period Opening Stabilized Year Year Year Year Year Year 20-Year Unit CP1 CP2 1 2 3 4 Cumulative

KEY FACILITY ASSUMPTIONS

Natatorium: 50M Pool 0 0 1 1 1 1 -- 50M Pool (SF) 30,000 0 0 30,000 30,000 30,000 30,000 -- 25yd Warmup Pool 0 0 1 1 1 1 -- 25yd Warmup Pool (SF) 10,000 0 0 10,000 10,000 10,000 10,000 -- Total Water/Ice Athletic Space (NSF) 0 0 40,000 40,000 40,000 40,000 -- Esports Area (SF) 0 0 0 0 0 0 -- Performance Training Area (SF) 0 0 0 0 0 0 -- Multipurpose/Party Rooms (SF) 0 0 5,000 5,000 5,000 5,000 -- Net Playing Surfaces (SF) 0 0 40,000 40,000 40,000 40,000 -- Net Function Space (SF) 0 0 5,000 5,000 5,000 5,000 -- Net Building (SF) 0 0 45,000 45,000 45,000 45,000 -- Back-of-House/Service/Support (SF) 85% 0 0 38,250 38,250 38,250 38,250 -- Total Building (GSF) 0 0 83,250 83,250 83,250 83,250 -- Total Parking Spaces (adjacent, controlled) 0 0 300 300 300 300 --

Total Area Total Athletic Areas (NSF) 0 0 40,000 40,000 40,000 40,000 -- Total GSF 0 0 83,250 83,250 83,250 83,250 -- Total Acreage (excluding parking) 0.0 0.0 1.9 1.9 1.9 1.9 --

7/22/21 10:10 PM Appendix B Page 1 of 29 PROPOSED FREDERICKSBURG / SPOTSYLVANIA REGIONAL AREA NATATORIUM Appendix B: Utilization, Financial & Economic Model

Construction Period Opening Stabilized Year Year Year Year Year Year 20-Year Unit CP1 CP2 1 2 3 4 Cumulative

UTILIZATION AND ATTENDANCE

PROGRAMMING

Lanes Per Practice/Session: UMW Varsity 0 0 12 12 12 12 -- Tsunami 0 0 6 6 6 6 -- Stingrays 0 0 6 6 6 6 -- Local High Schools 0 0 10 10 10 10 -- Intro to Diving 0 0 4 4 4 4 -- Open Swimming 0 0 6 6 6 6 -- UMW Campus Rec 0 0 14 14 14 14 -- Open Swim Lessons 0 0 4 4 4 4 -- Rehab & Physical Therapy 0 0 4 4 4 4 -- Fitness Classes 0 0 3 3 3 3 -- Other Users & Misc 0 0 10 10 10 10 --

Practices/Sessions Per Week: UMW Varsity 0 0 5 5 5 5 -- Tsunami 0 0 6 6 6 6 -- Stingrays 0 0 6 6 6 6 -- Local High Schools 0 0 6 6 6 6 -- Intro to Diving 0 0 5 5 5 5 -- Open Swimming 0 0 5 5 5 5 -- UMW Campus Rec 0 0 4 4 4 4 -- Open Swim Lessons 0 0 4 4 4 4 -- Rehab & Physical Therapy 0 0 5 5 5 5 -- Fitness Classes 0 0 5 5 5 5 -- Other Users & Misc 0 0 3 3 3 3 --

Weeks Per Year: UMW Varsity 0 0 19 19 19 19 -- Tsunami 0 0 38 40 42 44 -- Stingrays 0 0 38 40 42 44 -- Local High Schools 0 0 16 17 18 19 -- Intro to Diving 0 0 38 40 42 44 -- Open Swimming 0 0 44 46 48 50 -- UMW Campus Rec 0 0 12 12 12 12 -- Open Swim Lessons 0 0 38 40 42 44 -- Rehab & Physical Therapy 0 0 38 40 42 44 -- Fitness Classes 0 0 38 40 42 44 -- Other Users & Misc 0 0 24 26 28 30 --

Hours Per Practice/Session: UMW Varsity 0 0 4 4 4 4 -- Tsunami 0 0 2 2 2 2 -- Stingrays 0 0 2 2 2 2 -- Local High Schools 0 0 2 2 2 2 -- Intro to Diving 0 0 2 2 2 2 -- Open Swimming 0 0 14 14 14 14 -- UMW Campus Rec 0 0 2 2 2 2 -- Open Swim Lessons 0 0 1 1 1 1 -- Rehab & Physical Therapy 0 0 1 1 1 1 -- Fitness Classes 0 0 1 1 1 1 -- Other Users & Misc 0 0 3 3 3 3 --

Practices/Sessions Per Day: UMW Varsity 0 0 1 1 1 1 -- Tsunami 0 0 1 1 1 1 -- Stingrays 0 0 1 1 1 1 -- Local High Schools 0 0 1 1 1 1 -- Intro to Diving 0 0 1 1 1 1 -- Open Swimming 0 0 1 1 1 1 -- UMW Campus Rec 0 0 1 1 1 1 -- Open Swim Lessons 0 0 8 8 8 8 -- Rehab & Physical Therapy 0 0 5 5 5 5 -- Fitness Classes 0 0 2 2 2 2 -- Other Users & Misc 0 0 1 1 1 1 --

7/22/21 10:10 PM Appendix B Page 2 of 29 PROPOSED FREDERICKSBURG / SPOTSYLVANIA REGIONAL AREA NATATORIUM Appendix B: Utilization, Financial & Economic Model

Construction Period Opening Stabilized Year Year Year Year Year Year 20-Year Unit CP1 CP2 1 2 3 4 Cumulative

Total Practices/Sessions: UMW Varsity 0 0 375 375 375 375 7,505 Tsunami 0 0 456 480 504 528 10,416 Stingrays 0 0 456 480 504 528 10,416 Local High Schools 0 0 192 204 216 228 4,488 Intro to Diving 0 0 380 400 420 440 8,680 Open Swimming 0 0 3,080 3,220 3,360 3,500 69,160 UMW Campus Rec 0 0 96 96 96 96 1,920 Open Swim Lessons 0 0 1,216 1,280 1,344 1,408 27,776 Rehab & Physical Therapy 0 0 950 1,000 1,050 1,100 21,700 Fitness Classes 0 0 380 400 420 440 8,680 Other Users & Misc 0 0 216 234 252 270 5,292 Total 0 0 7,797 8,169 8,541 8,913 176,033

Total Lane Hours: UMW Varsity 0 0 4,503 4,503 4,503 4,503 90,060 Tsunami 0 0 2,736 2,880 3,024 3,168 62,496 Stingrays 0 0 2,736 2,880 3,024 3,168 62,496 Local High Schools 0 0 1,920 2,040 2,160 2,280 44,880 Intro to Diving 0 0 1,520 1,600 1,680 1,760 34,720 Open Swimming 0 0 18,480 19,320 20,160 21,000 414,960 UMW Campus Rec 0 0 1,344 1,344 1,344 1,344 26,880 Open Swim Lessons 0 0 4,864 5,120 5,376 5,632 111,104 Rehab & Physical Therapy 0 0 3,800 4,000 4,200 4,400 86,800 Fitness Classes 0 0 1,140 1,200 1,260 1,320 26,040 Other Users & Misc 0 0 2,160 2,340 2,520 2,700 52,920 Total 0 0 45,203 47,227 49,251 51,275 1,013,356

Swimmers Per Practice/Session: UMW Varsity 0 0 60 60 60 60 -- Tsunami 0 0 50 50 50 50 -- Stingrays 0 0 50 50 50 50 -- Local High Schools 0 0 20 20 20 20 -- Intro to Diving 0 0 5 5 5 5 -- Open Swimming 0 0 3 3 3 3 -- UMW Campus Rec 0 0 5 5 5 5 -- Open Swim Lessons 0 0 8 8 8 8 -- Rehab & Physical Therapy 0 0 1 1 1 1 -- Fitness Classes 0 0 12 12 12 12 -- Other Users & Misc 0 0 15 15 15 15 --

Total Programming Swimmers: UMW Varsity 0 0 22,500 22,500 22,500 22,500 450,000 Tsunami 0 0 22,800 24,000 25,200 26,400 520,800 Stingrays 0 0 22,800 24,000 25,200 26,400 520,800 Local High Schools 0 0 3,840 4,080 4,320 4,560 89,760 Intro to Diving 0 0 1,900 2,000 2,100 2,200 43,400 Open Swimming 0 0 8,800 9,200 9,600 10,000 197,600 UMW Campus Rec 0 0 480 480 480 480 9,600 Open Swim Lessons 0 0 9,728 10,240 10,752 11,264 222,208 Rehab & Physical Therapy 0 0 950 1,000 1,050 1,100 21,700 Fitness Classes 0 0 4,560 4,800 5,040 5,280 104,160 Other Users & Misc 0 0 3,240 3,510 3,780 4,050 79,380 Total 0 0 101,598 105,810 110,022 114,234 2,259,408

Total Programming Swimmers Per Lane Hour: UMW Varsity 0 0 5.0 5.0 5.0 5.0 99.9 Tsunami 0 0 8.3 8.3 8.3 8.3 166.7 Stingrays 0 0 8.3 8.3 8.3 8.3 166.7 Local High Schools 0 0 2.0 2.0 2.0 2.0 40.0 Intro to Diving 0 0 1.3 1.3 1.3 1.3 25.0 Open Swimming 0 0 0.5 0.5 0.5 0.5 9.5 UMW Campus Rec 0 0 0.4 0.4 0.4 0.4 7.1 Open Swim Lessons 0 0 2.0 2.0 2.0 2.0 40.0 Rehab & Physical Therapy 0 0 0.3 0.3 0.3 0.3 5.0 Fitness Classes 0 0 4.0 4.0 4.0 4.0 80.0 Other Users & Misc 0 0 1.5 1.5 1.5 1.5 30.0

7/22/21 10:10 PM Appendix B Page 3 of 29 PROPOSED FREDERICKSBURG / SPOTSYLVANIA REGIONAL AREA NATATORIUM Appendix B: Utilization, Financial & Economic Model

Construction Period Opening Stabilized Year Year Year Year Year Year 20-Year Unit CP1 CP2 1 2 3 4 Cumulative

Spectator Attendance Factor: UMW Varsity 0.0 0.0 0.3 0.3 0.3 0.3 -- Tsunami 0.0 0.0 0.3 0.3 0.3 0.3 -- Stingrays 0.0 0.0 0.3 0.3 0.3 0.3 -- Local High Schools 0.0 0.0 0.3 0.3 0.3 0.3 -- Intro to Diving 0.0 0.0 0.3 0.3 0.3 0.3 -- Open Swimming 0.0 0.0 0.0 0.0 0.0 0.0 -- UMW Campus Rec 0.0 0.0 0.0 0.0 0.0 0.0 -- Open Swim Lessons 0.0 0.0 0.8 0.8 0.8 0.8 -- Rehab & Physical Therapy 0.0 0.0 0.0 0.0 0.0 0.0 -- Fitness Classes 0.0 0.0 0.0 0.0 0.0 0.0 -- Other Users & Misc 0.0 0.0 0.2 0.2 0.2 0.2 --

Total Programming Spectators: UMW Varsity 0 0 6,750 6,750 6,750 6,750 135,000 Tsunami 0 0 6,840 7,200 7,560 7,920 156,240 Stingrays 0 0 6,840 7,200 7,560 7,920 156,240 Local High Schools 0 0 1,152 1,224 1,296 1,368 26,928 Intro to Diving 0 0 570 600 630 660 13,020 Open Swimming 0 0 0 0 0 0 0 UMW Campus Rec 0 0 0 0 0 0 0 Open Swim Lessons 0 0 7,782 8,192 8,602 9,011 177,766 Rehab & Physical Therapy 0 0 0 0 0 0 0 Fitness Classes 0 0 0 0 0 0 0 Other Users & Misc 0 0 648 702 756 810 15,876 Total 0 0 30,582 31,868 33,154 34,439 681,070

Total Programming Attendance: UMW Varsity 0 0 29,250 29,250 29,250 29,250 585,000 Tsunami 0 0 29,640 31,200 32,760 34,320 677,040 Stingrays 0 0 29,640 31,200 32,760 34,320 677,040 Local High Schools 0 0 4,992 5,304 5,616 5,928 116,688 Intro to Diving 0 0 2,470 2,600 2,730 2,860 56,420 Open Swimming 0 0 8,800 9,200 9,600 10,000 197,600 UMW Campus Rec 0 0 480 480 480 480 9,600 Open Swim Lessons 0 0 17,510 18,432 19,354 20,275 399,974 Rehab & Physical Therapy 0 0 950 1,000 1,050 1,100 21,700 Fitness Classes 0 0 4,560 4,800 5,040 5,280 104,160 Other Users & Misc 0 0 3,888 4,212 4,536 4,860 95,256 Total 0 0 132,180 137,678 143,176 148,673 2,940,478

Percent Local: UMW Varsity 90% 90% 90% 90% 90% 90% -- Tsunami 70% 70% 70% 70% 70% 70% -- Stingrays 70% 70% 70% 70% 70% 70% -- Local High Schools 95% 95% 95% 95% 95% 95% -- Intro to Diving 60% 60% 60% 60% 60% 60% -- Open Swimming 85% 85% 85% 85% 85% 85% -- UMW Campus Rec 90% 90% 90% 90% 90% 90% -- Open Swim Lessons 70% 70% 70% 70% 70% 70% -- Rehab & Physical Therapy 60% 60% 60% 60% 60% 60% -- Fitness Classes 70% 70% 70% 70% 70% 70% -- Other Users & Misc 50% 50% 50% 50% 50% 50% --

Percent Non-Local: UMW Varsity 10% 10% 10% 10% 10% 10% -- Tsunami 30% 30% 30% 30% 30% 30% -- Stingrays 30% 30% 30% 30% 30% 30% -- Local High Schools 5% 5% 5% 5% 5% 5% -- Intro to Diving 40% 40% 40% 40% 40% 40% -- Open Swimming 15% 15% 15% 15% 15% 15% -- UMW Campus Rec 10% 10% 10% 10% 10% 10% -- Open Swim Lessons 30% 30% 30% 30% 30% 30% -- Rehab & Physical Therapy 40% 40% 40% 40% 40% 40% -- Fitness Classes 30% 30% 30% 30% 30% 30% -- Other Users & Misc 50% 50% 50% 50% 50% 50% --

7/22/21 10:10 PM Appendix B Page 4 of 29 PROPOSED FREDERICKSBURG / SPOTSYLVANIA REGIONAL AREA NATATORIUM Appendix B: Utilization, Financial & Economic Model

Construction Period Opening Stabilized Year Year Year Year Year Year 20-Year Unit CP1 CP2 1 2 3 4 Cumulative

Total Local Programming Attendance: UMW Varsity 0 0 26,325 26,325 26,325 26,325 526,500 Tsunami 0 0 20,748 21,840 22,932 24,024 473,928 Stingrays 0 0 20,748 21,840 22,932 24,024 473,928 Local High Schools 0 0 4,742 5,039 5,335 5,632 110,854 Intro to Diving 0 0 1,482 1,560 1,638 1,716 33,852 Open Swimming 0 0 7,480 7,820 8,160 8,500 167,960 UMW Campus Rec 0 0 432 432 432 432 8,640 Open Swim Lessons 0 0 12,257 12,902 13,548 14,193 279,982 Rehab & Physical Therapy 0 0 570 600 630 660 13,020 Fitness Classes 0 0 3,192 3,360 3,528 3,696 72,912 Other Users & Misc 0 0 1,944 2,106 2,268 2,430 47,628 Total 0 0 99,921 103,824 107,728 111,631 2,209,204

Total Non-Local Programming Attendance: UMW Varsity 0 0 2,925 2,925 2,925 2,925 58,500 Tsunami 0 0 8,892 9,360 9,828 10,296 203,112 Stingrays 0 0 8,892 9,360 9,828 10,296 203,112 Local High Schools 0 0 250 265 281 296 5,834 Intro to Diving 0 0 988 1,040 1,092 1,144 22,568 Open Swimming 0 0 1,320 1,380 1,440 1,500 29,640 UMW Campus Rec 0 0 48 48 48 48 960 Open Swim Lessons 0 0 5,253 5,530 5,806 6,083 119,992 Rehab & Physical Therapy 0 0 380 400 420 440 8,680 Fitness Classes 0 0 1,368 1,440 1,512 1,584 31,248 Other Users & Misc 0 0 1,944 2,106 2,268 2,430 47,628 Total 0 0 32,260 33,854 35,448 37,042 731,275

MEETS

Number of Meets: UMW Invitational Meets 0 0 3 3 4 4 78 UMW Dual Meets 0 0 6 6 7 7 138 Club & Other Invitational Meets 0 0 6 7 8 9 174 High School Invitational Meets 0 0 2 2 3 3 58 High School Dual Meets 0 0 4 4 5 5 98 Total 0 0 21 22 27 28 546

Average Swimmers Per Meet: UMW Invitational Meets 0 0 800 800 800 800 -- UMW Dual Meets 0 0 100 100 100 100 -- Club & Other Invitational Meets 0 0 600 600 600 600 -- High School Invitational Meets 0 0 400 400 400 400 -- High School Dual Meets 0 0 100 100 100 100 --

Total Meet Swimmers: UMW Invitational Meets 0 0 2,400 2,400 3,200 3,200 62,400 UMW Dual Meets 0 0 600 600 700 700 13,800 Club & Other Invitational Meets 0 0 3,600 4,200 4,800 5,400 104,400 High School Invitational Meets 0 0 800 800 1,200 1,200 23,200 High School Dual Meets 0 0 400 400 500 500 9,800 Total 0 0 7,800 8,400 10,400 11,000 213,600

Spectator Attendance Factor: UMW Invitational Meets 0.0 0.0 2.0 2.0 2.0 2.0 -- UMW Dual Meets 0.0 0.0 2.0 2.0 2.0 2.0 -- Club & Other Invitational Meets 0.0 0.0 2.5 2.5 2.5 2.5 -- High School Invitational Meets 0.0 0.0 2.5 2.5 2.5 2.5 -- High School Dual Meets 0.0 0.0 2.0 2.0 2.0 2.0 --

Total Meet Spectators: UMW Invitational Meets 0 0 4,800 4,800 6,400 6,400 124,800 UMW Dual Meets 0 0 1,200 1,200 1,400 1,400 27,600 Club & Other Invitational Meets 0 0 9,000 10,500 12,000 13,500 261,000 High School Invitational Meets 0 0 2,000 2,000 3,000 3,000 58,000 High School Dual Meets 0 0 800 800 1,000 1,000 19,600 Total 0 0 17,800 19,300 23,800 25,300 491,000

7/22/21 10:10 PM Appendix B Page 5 of 29 PROPOSED FREDERICKSBURG / SPOTSYLVANIA REGIONAL AREA NATATORIUM Appendix B: Utilization, Financial & Economic Model

Construction Period Opening Stabilized Year Year Year Year Year Year 20-Year Unit CP1 CP2 1 2 3 4 Cumulative

Days Per Meet: UMW Invitational Meets 0.0 0.0 3.0 3.0 3.0 3.0 -- UMW Dual Meets 0.0 0.0 1.0 1.0 1.0 1.0 -- Club & Other Invitational Meets 0.0 0.0 2.0 2.0 2.0 2.0 -- High School Invitational Meets 0.0 0.0 2.0 2.0 2.0 2.0 -- High School Dual Meets 0.0 0.0 1.0 1.0 1.0 1.0 --

Total Meet Attendance: UMW Invitational Meets 0 0 21,600 21,600 28,800 28,800 561,600 UMW Dual Meets 0 0 1,800 1,800 2,100 2,100 41,400 Club & Other Invitational Meets 0 0 25,200 29,400 33,600 37,800 730,800 High School Invitational Meets 0 0 5,600 5,600 8,400 8,400 162,400 High School Dual Meets 0 0 1,200 1,200 1,500 1,500 29,400 Total 0 0 55,400 59,600 74,400 78,600 1,525,600

Percent Local: UMW Invitational Meets 20% 20% 20% 20% 20% 20% -- UMW Dual Meets 50% 50% 50% 50% 50% 50% -- Club & Other Invitational Meets 30% 30% 30% 30% 30% 30% -- High School Invitational Meets 20% 20% 20% 20% 20% 20% -- High School Dual Meets 40% 40% 40% 40% 40% 40% --

Percent Non-Local: UMW Invitational Meets 80% 80% 80% 80% 80% 80% -- UMW Dual Meets 50% 50% 50% 50% 50% 50% -- Club & Other Invitational Meets 70% 70% 70% 70% 70% 70% -- High School Invitational Meets 80% 80% 80% 80% 80% 80% -- High School Dual Meets 60% 60% 60% 60% 60% 60% --

Total Local Meet Attendance: UMW Invitational Meets 0 0 4,320 4,320 5,760 5,760 112,320 UMW Dual Meets 0 0 900 900 1,050 1,050 20,700 Club & Other Invitational Meets 0 0 7,560 8,820 10,080 11,340 219,240 High School Invitational Meets 0 0 1,120 1,120 1,680 1,680 32,480 High School Dual Meets 0 0 480 480 600 600 11,760 Total 0 0 14,380 15,640 19,170 20,430 396,500

Total Non-Local Meet Attendance: UMW Invitational Meets 0 0 17,280 17,280 23,040 23,040 449,280 UMW Dual Meets 0 0 900 900 1,050 1,050 20,700 Club & Other Invitational Meets 0 0 17,640 20,580 23,520 26,460 511,560 High School Invitational Meets 0 0 4,480 4,480 6,720 6,720 129,920 High School Dual Meets 0 0 720 720 900 900 17,640 Total 0 0 41,020 43,960 55,230 58,170 1,129,100

7/22/21 10:10 PM Appendix B Page 6 of 29 PROPOSED FREDERICKSBURG / SPOTSYLVANIA REGIONAL AREA NATATORIUM Appendix B: Utilization, Financial & Economic Model

Construction Period Opening Stabilized Year Year Year Year Year Year 20-Year Unit CP1 CP2 1 2 3 4 Cumulative

OPERATING REVENUE

REGISTRATION FEES

Percent In-House Programming: Total Lane Hours: UMW Varsity 0% 0% 0% 0% 0% 0% -- Tsunami 0% 0% 0% 0% 0% 0% -- Stingrays 0% 0% 0% 0% 0% 0% -- Local High Schools 0% 0% 0% 0% 0% 0% -- Intro to Diving 100% 100% 100% 100% 100% 100% -- Open Swimming 100% 100% 100% 100% 100% 100% -- UMW Campus Rec 0% 0% 0% 0% 0% 0% -- Open Swim Lessons 50% 50% 50% 50% 50% 50% -- Rehab & Physical Therapy 50% 50% 50% 50% 50% 50% -- Fitness Classes 50% 50% 50% 50% 50% 50% -- Other Users & Misc 0% 0% 0% 0% 0% 0% -- Total

Percent In-House Meets: Number of Meets: UMW Invitational Meets 0% 0% 0% 0% 0% 0% -- UMW Dual Meets 0% 0% 0% 0% 0% 0% -- Club & Other Invitational Meets 0% 0% 0% 0% 0% 0% -- High School Invitational Meets 0% 0% 0% 0% 0% 0% -- High School Dual Meets 0% 0% 0% 0% 0% 0% -- Total

% Third-Party Programming Rentals: Total Lane Hours: UMW Varsity 100% 100% 100% 100% 100% 100% -- Tsunami 100% 100% 100% 100% 100% 100% -- Stingrays 100% 100% 100% 100% 100% 100% -- Local High Schools 100% 100% 100% 100% 100% 100% -- Intro to Diving 0% 0% 0% 0% 0% 0% -- Open Swimming 0% 0% 0% 0% 0% 0% -- UMW Campus Rec 100% 100% 100% 100% 100% 100% -- Open Swim Lessons 50% 50% 50% 50% 50% 50% -- Rehab & Physical Therapy 50% 50% 50% 50% 50% 50% -- Fitness Classes 50% 50% 50% 50% 50% 50% -- Other Users & Misc 100% 100% 100% 100% 100% 100% --

% Third-Party Meet Rentals: Number of Meets: UMW Invitational Meets 100% 100% 100% 100% 100% 100% -- UMW Dual Meets 100% 100% 100% 100% 100% 100% -- Club & Other Invitational Meets 100% 100% 100% 100% 100% 100% -- High School Invitational Meets 100% 100% 100% 100% 100% 100% -- High School Dual Meets 100% 100% 100% 100% 100% 100% -- Total

Registration Per In-House Swimmer Per Lane Hour: Growth UMW Varsity 0.0% $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 -- Tsunami 0.0% $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 -- Stingrays 0.0% $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 -- Local High Schools 0.0% $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 -- Intro to Diving 0.0% $35.00 $35.00 $35.00 $35.00 $35.00 $35.00 -- Open Swimming 0.0% $8.00 $8.00 $8.00 $8.00 $8.00 $8.00 -- UMW Campus Rec 0.0% $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 -- Open Swim Lessons 0.0% $25.00 $25.00 $25.00 $25.00 $25.00 $25.00 -- Rehab & Physical Therapy 0.0% $30.00 $30.00 $30.00 $30.00 $30.00 $30.00 -- Fitness Classes 0.0% $25.00 $25.00 $25.00 $25.00 $25.00 $25.00 -- Other Users & Misc 0.0% $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 --

7/22/21 10:10 PM Appendix B Page 7 of 29 PROPOSED FREDERICKSBURG / SPOTSYLVANIA REGIONAL AREA NATATORIUM Appendix B: Utilization, Financial & Economic Model

Construction Period Opening Stabilized Year Year Year Year Year Year 20-Year Unit CP1 CP2 1 2 3 4 Cumulative

In-House Programming Registration Fees: UMW Varsity $0 $0 $0 $0 $0 $0 $0 Tsunami $0 $0 $0 $0 $0 $0 $0 Stingrays $0 $0 $0 $0 $0 $0 $0 Local High Schools $0 $0 $0 $0 $0 $0 $0 Intro to Diving $0 $0 $66,500 $70,000 $73,500 $77,000 $1,519,000 Open Swimming $0 $0 $70,400 $73,600 $76,800 $80,000 $1,580,800 UMW Campus Rec $0 $0 $0 $0 $0 $0 $0 Open Swim Lessons $0 $0 $121,600 $128,000 $134,400 $140,800 $2,777,600 Rehab & Physical Therapy $0 $0 $14,250 $15,000 $15,750 $16,500 $325,500 Fitness Classes $0 $0 $57,000 $60,000 $63,000 $66,000 $1,302,000 Other Users & Misc $0 $0 $0 $0 $0 $0 $0 Total $0 $0 $329,750 $346,600 $363,450 $380,300 $7,504,900

Registration Per Team Per In-House Meet: Growth UMW Invitational Meets 0.0% $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 -- UMW Dual Meets 0.0% $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 -- Club & Other Invitational Meets 0.0% $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 -- High School Invitational Meets 0.0% $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 -- High School Dual Meets 0.0% $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 --

In-House Meet Per Team Registration Fees: UMW Invitational Meets $0 $0 $0 $0 $0 $0 $0 UMW Dual Meets $0 $0 $0 $0 $0 $0 $0 Club & Other Invitational Meets $0 $0 $0 $0 $0 $0 $0 High School Invitational Meets $0 $0 $0 $0 $0 $0 $0 High School Dual Meets $0 $0 $0 $0 $0 $0 $0 Total $0 $0 $0 $0 $0 $0 $0

Total In-House Registration Fees: $0 $0 $329,750 $346,600 $363,450 $380,300

RENTAL REVENUE

Rental Rate Per Third-Party Programming Lane Hour: Growth UMW Varsity 0.0% $20.00 $20.00 $20.00 $20.00 $20.00 $20.00 -- Tsunami 0.0% $20.00 $20.00 $20.00 $20.00 $20.00 $20.00 -- Stingrays 0.0% $20.00 $20.00 $20.00 $20.00 $20.00 $20.00 -- Local High Schools 0.0% $20.00 $20.00 $20.00 $20.00 $20.00 $20.00 -- Intro to Diving 0.0% $20.00 $20.00 $20.00 $20.00 $20.00 $20.00 -- Open Swimming 0.0% $20.00 $20.00 $20.00 $20.00 $20.00 $20.00 -- UMW Campus Rec 0.0% $20.00 $20.00 $20.00 $20.00 $20.00 $20.00 -- Open Swim Lessons 0.0% $20.00 $20.00 $20.00 $20.00 $20.00 $20.00 -- Rehab & Physical Therapy 0.0% $20.00 $20.00 $20.00 $20.00 $20.00 $20.00 -- Fitness Classes 0.0% $20.00 $20.00 $20.00 $20.00 $20.00 $20.00 -- Other Users & Misc 0.0% $20.00 $20.00 $20.00 $20.00 $20.00 $20.00 --

Third-Party Programming Rental Revenue: UMW Varsity $0 $0 $90,060 $90,060 $90,060 $90,060 $1,801,200 Tsunami $0 $0 $54,720 $57,600 $60,480 $63,360 $1,249,920 Stingrays $0 $0 $54,720 $57,600 $60,480 $63,360 $1,249,920 Local High Schools $0 $0 $38,400 $40,800 $43,200 $45,600 $897,600 Intro to Diving $0 $0 $0 $0 $0 $0 $0 Open Swimming $0 $0 $0 $0 $0 $0 $0 UMW Campus Rec $0 $0 $26,880 $26,880 $26,880 $26,880 $537,600 Open Swim Lessons $0 $0 $48,640 $51,200 $53,760 $56,320 $1,111,040 Rehab & Physical Therapy $0 $0 $38,000 $40,000 $42,000 $44,000 $868,000 Fitness Classes $0 $0 $11,400 $12,000 $12,600 $13,200 $260,400 Other Users & Misc $0 $0 $43,200 $46,800 $50,400 $54,000 $1,058,400 Total $0 $0 $406,020 $422,940 $439,860 $456,780 $9,034,080

7/22/21 10:10 PM Appendix B Page 8 of 29 PROPOSED FREDERICKSBURG / SPOTSYLVANIA REGIONAL AREA NATATORIUM Appendix B: Utilization, Financial & Economic Model

Construction Period Opening Stabilized Year Year Year Year Year Year 20-Year Unit CP1 CP2 1 2 3 4 Cumulative

Third-Party Rental Rates Per Meet: Growth UMW Invitational Meets 0.0% $7,000.00 $7,000.00 $7,000.00 $7,000.00 $7,000.00 $7,000.00 -- UMW Dual Meets 0.0% $3,000.00 $3,000.00 $3,000.00 $3,000.00 $3,000.00 $3,000.00 -- Club & Other Invitational Meets 0.0% $7,500.00 $7,500.00 $7,500.00 $7,500.00 $7,500.00 $7,500.00 -- High School Invitational Meets 0.0% $7,000.00 $7,000.00 $7,000.00 $7,000.00 $7,000.00 $7,000.00 -- High School Dual Meets 0.0% $3,000.00 $3,000.00 $3,000.00 $3,000.00 $3,000.00 $3,000.00 --

In-House Meet Per Team Registration Fees: UMW Invitational Meets $0 $0 $21,000 $21,000 $28,000 $28,000 $546,000 UMW Dual Meets $0 $0 $18,000 $18,000 $21,000 $21,000 $414,000 Club & Other Invitational Meets $0 $0 $45,000 $52,500 $60,000 $67,500 $1,305,000 High School Invitational Meets $0 $0 $14,000 $14,000 $21,000 $21,000 $406,000 High School Dual Meets $0 $0 $12,000 $12,000 $15,000 $15,000 $294,000 Total $0 $0 $110,000 $117,500 $145,000 $152,500 $2,965,000

Growth Other Rental Sources: 0.0% $0 $0 $15,000 $20,000 $25,000 $30,000 --

Total Rental Revenue: $0 $0 $531,020 $560,440 $609,860 $639,280 $12,569,080

CONCESSIONS REVENUE

Average Concessions Spending Per Capita: Programming: Growth UMW Varsity 0.0% $2.00 $2.00 $2.00 $2.00 $2.00 $2.00 -- Tsunami 0.0% $2.00 $2.00 $2.00 $2.00 $2.00 $2.00 -- Stingrays 0.0% $2.00 $2.00 $2.00 $2.00 $2.00 $2.00 -- Local High Schools 0.0% $2.00 $2.00 $2.00 $2.00 $2.00 $2.00 -- Intro to Diving 0.0% $2.00 $2.00 $2.00 $2.00 $2.00 $2.00 -- Open Swimming 0.0% $2.00 $2.00 $2.00 $2.00 $2.00 $2.00 -- UMW Campus Rec 0.0% $2.00 $2.00 $2.00 $2.00 $2.00 $2.00 -- Open Swim Lessons 0.0% $2.00 $2.00 $2.00 $2.00 $2.00 $2.00 -- Rehab & Physical Therapy 0.0% $2.00 $2.00 $2.00 $2.00 $2.00 $2.00 -- Fitness Classes 0.0% $2.00 $2.00 $2.00 $2.00 $2.00 $2.00 -- Other Users & Misc 0.0% $2.00 $2.00 $2.00 $2.00 $2.00 $2.00 -- Meets: UMW Invitational Meets 0.0% $2.75 $2.75 $2.75 $2.75 $2.75 $2.75 -- UMW Dual Meets 0.0% $2.75 $2.75 $2.75 $2.75 $2.75 $2.75 -- Club & Other Invitational Meets 0.0% $2.75 $2.75 $2.75 $2.75 $2.75 $2.75 -- High School Invitational Meets 0.0% $2.75 $2.75 $2.75 $2.75 $2.75 $2.75 -- High School Dual Meets 0.0% $2.75 $2.75 $2.75 $2.75 $2.75 $2.75 --

Gross Concessions Revenue: Programming: UMW Varsity $0 $0 $58,500 $58,500 $58,500 $58,500 $1,170,000 Tsunami $0 $0 $59,280 $62,400 $65,520 $68,640 $1,354,080 Stingrays $0 $0 $59,280 $62,400 $65,520 $68,640 $1,354,080 Local High Schools $0 $0 $9,984 $10,608 $11,232 $11,856 $233,376 Intro to Diving $0 $0 $4,940 $5,200 $5,460 $5,720 $112,840 Open Swimming $0 $0 $17,600 $18,400 $19,200 $20,000 $395,200 UMW Campus Rec $0 $0 $960 $960 $960 $960 $19,200 Open Swim Lessons $0 $0 $35,021 $36,864 $38,707 $40,550 $799,949 Rehab & Physical Therapy $0 $0 $1,900 $2,000 $2,100 $2,200 $43,400 Fitness Classes $0 $0 $9,120 $9,600 $10,080 $10,560 $208,320 Other Users & Misc $0 $0 $7,776 $8,424 $9,072 $9,720 $190,512 Meets: UMW Invitational Meets $0 $0 $59,400 $59,400 $79,200 $79,200 $1,544,400 UMW Dual Meets $0 $0 $4,950 $4,950 $5,775 $5,775 $113,850 Club & Other Invitational Meets $0 $0 $69,300 $80,850 $92,400 $103,950 $2,009,700 High School Invitational Meets $0 $0 $15,400 $15,400 $23,100 $23,100 $446,600 High School Dual Meets $0 $0 $3,300 $3,300 $4,125 $4,125 $80,850 Total $0 $0 $416,711 $439,256 $490,951 $513,496 $10,076,357

Concessions Net % 60% 60% 60% 60% 60% 60% -- Concessions Net $ $0 $0 $250,026 $263,554 $294,571 $308,098 $6,045,814

7/22/21 10:10 PM Appendix B Page 9 of 29 PROPOSED FREDERICKSBURG / SPOTSYLVANIA REGIONAL AREA NATATORIUM Appendix B: Utilization, Financial & Economic Model

Construction Period Opening Stabilized Year Year Year Year Year Year 20-Year Unit CP1 CP2 1 2 3 4 Cumulative

ADVERTISING

Banners Quantity 0 0 16 16 16 16 -- Percentage Sold 75% 75% 75% 75% 75% 75% -- Price 0.0% $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 -- Annual Banner Revenue $0 $0 $30,000 $30,000 $30,000 $30,000 $600,000

LED Boards Quantity 0 0 8 8 8 8 -- Percentage Sold 75% 75% 75% 75% 75% 75% -- Price 0.0% $3,500 $3,500 $3,500 $3,500 $3,500 $3,500 -- Annual Dasherboard Revenue $0 $0 $21,000 $21,000 $21,000 $21,000 $420,000

Scoreboard Quantity 0 0 4 4 4 4 -- Percentage Sold 75% 75% 75% 75% 75% 75% -- Price 0.0% $7,000 $7,000 $7,000 $7,000 $7,000 $7,000 -- Annual Scoreboard Revenue $0 $0 $21,000 $21,000 $21,000 $21,000 $420,000

Courts/Fields Quantity 0 0 0 0 0 0 -- Percentage Sold 75% 75% 75% 75% 75% 75% -- Price 0.0% $1,750 $1,750 $1,750 $1,750 $1,750 $1,750 -- Annual Court/Ice Revenue $0 $0 $0 $0 $0 $0 $0

Other Signage (Lobby, Meeting Rooms, etc) Quantity 0 0 10 10 10 10 -- Percentage Sold 75% 75% 75% 75% 75% 75% -- Price 0.0% $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 -- Annual Other Signage Revenue $0 $0 $18,750 $18,750 $18,750 $18,750 $375,000

Presenting Sponsor / Other Sponsorships Quantity 0 0 6 6 6 6 -- Percentage Sold 75% 75% 75% 75% 75% 75% -- Price 0.0% $9,000 $9,000 $9,000 $9,000 $9,000 $9,000 -- Annual Sponsorship Revenue $0 $0 $40,500 $40,500 $40,500 $40,500 $810,000

Other 0.0% $0 $0 $85,000 $90,000 $95,000 $100,000 $1,970,000

Total Annual Advertising Revenue Banners $0 $0 $30,000 $30,000 $30,000 $30,000 $600,000 LED Boards $0 $0 $21,000 $21,000 $21,000 $21,000 $420,000 Scoreboard $0 $0 $21,000 $21,000 $21,000 $21,000 $420,000 Courts/Fields $0 $0 $0 $0 $0 $0 $0 Other Signage (Lobby, Meeting Rooms, etc) $0 $0 $18,750 $18,750 $18,750 $18,750 $375,000 Presenting Sponsor / Other Sponsorships $0 $0 $40,500 $40,500 $40,500 $40,500 $810,000 Other $0 $0 $85,000 $90,000 $95,000 $100,000 $1,970,000 Total $0 $0 $216,250 $221,250 $226,250 $231,250 $4,595,000

7/22/21 10:10 PM Appendix B Page 10 of 29 PROPOSED FREDERICKSBURG / SPOTSYLVANIA REGIONAL AREA NATATORIUM Appendix B: Utilization, Financial & Economic Model

Construction Period Opening Stabilized Year Year Year Year Year Year 20-Year Unit CP1 CP2 1 2 3 4 Cumulative

Other Revenue

Esports & Sports Performance Annual Visitors 0 0 0 0 0 0 -- Per Capita Spend 0.0% $6.50 $6.50 $6.50 $6.50 $6.50 $6.50 -- Gross Annual Revenue $0 $0 $0 $0 $0 $0 $0 Net Revenue % 50% 50% 50% 50% 50% 50% -- Net Revenue $ $0 $0 $0 $0 $0 $0 $0

Multipurpose/Party Rooms Annual Rentals 0 0 100 110 120 130 -- Average SF Rented 0 0 500 500 500 500 -- Average Rental Rate per SF 0.0% $1.10 $1.10 $1.10 $1.10 $1.10 $1.10 -- Annual Revenue $0 $0 $55,000 $60,500 $66,000 $71,500 $1,397,000

Miscellaneous Revenue 0.0% $0 $0 $35,000 $40,000 $45,000 $50,000 $970,000

Total Annual Other Revenue Esports & Sports Performance $0 $0 $0 $0 $0 $0 $0 Multipurpose/Party Rooms $0 $0 $55,000 $60,500 $66,000 $71,500 $1,397,000 Miscellaneous Revenue $0 $0 $35,000 $40,000 $45,000 $50,000 $970,000 Total $0 $0 $90,000 $100,500 $111,000 $121,500 $2,367,000 11.7% 10.4% 9.5%

7/22/21 10:10 PM Appendix B Page 11 of 29 PROPOSED FREDERICKSBURG / SPOTSYLVANIA REGIONAL AREA NATATORIUM Appendix B: Utilization, Financial & Economic Model

Construction Period Opening Stabilized Year Year Year Year Year Year 20-Year Unit CP1 CP2 1 2 3 4 Cumulative

OPERATING EXPENSES

Staffing- FTEs Executive Director 0.0 0.0 1.0 1.0 1.0 1.0 -- Marketing Manager 0.0 0.0 1.0 1.0 1.0 1.0 -- Business Manager 0.0 0.0 1.0 1.0 1.0 1.0 -- Director of Operations 0.0 0.0 1.0 1.0 1.0 1.0 -- Administrative Assistant 0.0 0.0 1.0 1.0 1.0 1.0 -- Maintenance/Operations 0.0 0.0 2.0 2.0 2.0 2.0 -- Custodian 0.0 0.0 2.0 2.0 2.0 2.0 -- Total 0.0 0.0 9.0 9.0 9.0 9.0

Staffing - Salaries Growth Executive Director 0.0% $0 $0 $100,000 $100,000 $100,000 $100,000 -- Marketing Manager 0.0% $0 $0 $75,000 $75,000 $75,000 $75,000 -- Business Manager 0.0% $0 $0 $70,000 $70,000 $70,000 $70,000 -- Director of Operations 0.0% $0 $0 $70,000 $70,000 $70,000 $70,000 -- Administrative Assistant 0.0% $0 $0 $43,000 $43,000 $43,000 $43,000 -- Maintenance/Operations 0.0% $0 $0 $55,000 $55,000 $55,000 $55,000 -- Custodian 0.0% $0 $0 $35,000 $35,000 $35,000 $35,000 --

Staffing Executive Director $0 $0 $100,000 $100,000 $100,000 $100,000 $2,000,000 Marketing Manager $0 $0 $75,000 $75,000 $75,000 $75,000 $1,500,000 Business Manager $0 $0 $70,000 $70,000 $70,000 $70,000 $1,400,000 Director of Operations $0 $0 $70,000 $70,000 $70,000 $70,000 $1,400,000 Administrative Assistant $0 $0 $43,000 $43,000 $43,000 $43,000 $860,000 Maintenance/Operations $0 $0 $110,000 $110,000 $110,000 $110,000 $2,200,000 Custodian $0 $0 $70,000 $70,000 $70,000 $70,000 $1,400,000 Subtotal $0 $0 $538,000 $538,000 $538,000 $538,000 $0 Benefits Factor 1.3 1.3 1.3 1.3 1.3 1.3 Subtotal Salaries, Wages and Benefits $0 $0 $699,400 $699,400 $699,400 $699,400 $13,988,000 Contract Labor / Part-Time Labor 0.0% $0 $0 $30,000 $35,000 $40,000 $45,000 $870,000 Total Salaries, Wages and Benefits $0 $0 $729,400 $734,400 $739,400 $744,400 $14,858,000

Utilities Total Building Square Footage 0 0 83,250 83,250 83,250 83,250 -- Annual Cost per Square Foot 0% $3.500 $3.50 $3.50 $3.50 $3.50 $3.50 -- Estimated Annual Utilities Cost $0 $0 $291,375 $291,375 $291,375 $291,375 $5,827,500

Maintenance Total Building Square Footage 0 0 83,250 83,250 83,250 83,250 -- Annual Cost per Square Foot 0% $0.920 $0.92 $0.92 $0.92 $0.92 $0.92 -- Estimated Annual Maintenance Cost $0 $0 $76,590 $76,590 $76,590 $76,590 $1,531,800

Materials and Supplies Total Building Square Footage 0 0 83,250 83,250 83,250 83,250 -- Annual Cost per Square Foot 0% $0.720 $0.72 $0.72 $0.72 $0.72 $0.72 -- Estimated Annual Materials Cost $0 $0 $59,940 $59,940 $59,940 $59,940 $1,198,800

Insurance Total Building Square Footage 0 0 83,250 83,250 83,250 83,250 -- Annual Cost per Square Foot 0% $1.350 $1.35 $1.35 $1.35 $1.35 $1.35 -- Estimated Annual Insurance Cost $0 $0 $112,388 $112,388 $112,388 $112,388 $2,247,750

Concessions Gross Concession Revenue $0 $0 $416,711 $439,256 $490,951 $513,496 $10,076,357 Cost of Goods Sold 40% 40% 40% 40% 40% 40% -- Estimated Annual Concessions Cost $0 $0 $166,684 $175,702 $196,380 $205,399 $4,030,543

General and Administrative Advertising / Promotions Awards/Trophies Entertainment Technology Contract Labor Tournament expenses Publications Miscellanous Total 0% $0 $0 $82,000 $87,000 $92,000 $97,000 $1,910,000

In-House Programming Expenses Participants Fees $0 $0 $329,750 $346,600 $363,450 $380,300 $7,504,900 In-House Operations/Programming Expense % 65% 65% 65% 65% 65% 65% In-House Operations/Programming Expense $0 $0 $214,338 $225,290 $236,243 $247,195 $4,878,185

7/22/21 10:10 PM Appendix B Page 12 of 29 PROPOSED FREDERICKSBURG / SPOTSYLVANIA REGIONAL AREA NATATORIUM Appendix B: Utilization, Financial & Economic Model

Construction Period Opening Stabilized Year Year Year Year Year Year 20-Year Unit CP1 CP2 1 2 3 4 Cumulative

FINANCIAL OPERATING SUMMARY

Operating Revenues Registration Fees $0 $0 $329,750 $346,600 $363,450 $380,300 $7,504,900 Rental Income $0 $0 $531,020 $560,440 $609,860 $639,280 $12,569,080 Concessions (gross) $0 $0 $416,711 $439,256 $490,951 $513,496 $10,076,357 Advertising/Sponsorship $0 $0 $216,300 $221,300 $226,300 $231,300 $4,596,000 Other $0 $0 $90,000 $100,500 $111,000 $121,500 $2,367,000 Total Operating Revenues $0 $0 $1,583,781 $1,668,096 $1,801,561 $1,885,876 $37,113,337

Operating Expenses Salaries, Wages and Benefits $0 $0 $729,400 $734,400 $739,400 $744,400 $14,858,000 Utilities $0 $0 $291,400 $291,400 $291,400 $291,400 $5,828,000 Maintenance and Repair $0 $0 $76,600 $76,600 $76,600 $76,600 $1,532,000 Materials and Supplies $0 $0 $59,900 $59,900 $59,900 $59,900 $1,198,000 Insurance $0 $0 $112,400 $112,400 $112,400 $112,400 $2,248,000 Concessions $0 $0 $166,700 $175,700 $196,400 $205,400 $4,030,600 General and Administrative Growth $0 $0 $82,000 $87,000 $92,000 $97,000 $1,910,000 Management Fee 0% $0 $0 $150,000 $160,000 $170,000 $180,000 $3,540,000 In-House Operations/Programming $0 $0 $214,300 $225,300 $236,200 $247,200 $4,878,200 Total Operating Expenses $0 $0 $1,882,700 $1,922,700 $1,974,300 $2,014,300 $40,022,800

Net Income From Operations $0 $0 ($298,919) ($254,604) ($172,739) ($128,424) ($2,909,463)

7/22/21 10:10 PM Appendix B Page 13 of 29 PROPOSED FREDERICKSBURG / SPOTSYLVANIA REGIONAL AREA NATATORIUM Appendix B: Utilization, Financial & Economic Model

Construction Period Opening Stabilized Year Year Year Year Year Year 20-Year Unit CP1 CP2 1 2 3 4 Cumulative

ECONOMIC IMPACTS

Out-of-Facility Impacts

Total Attendee Days: UMW Varsity 0 0 29,250 29,250 29,250 29,250 585,000 Tsunami 0 0 29,640 31,200 32,760 34,320 677,040 Stingrays 0 0 29,640 31,200 32,760 34,320 677,040 Local High Schools 0 0 4,992 5,304 5,616 5,928 116,688 Intro to Diving 0 0 2,470 2,600 2,730 2,860 56,420 Open Swimming 0 0 8,800 9,200 9,600 10,000 197,600 UMW Campus Rec 0 0 480 480 480 480 9,600 Open Swim Lessons 0 0 17,510 18,432 19,354 20,275 399,974 Rehab & Physical Therapy 0 0 950 1,000 1,050 1,100 21,700 Fitness Classes 0 0 4,560 4,800 5,040 5,280 104,160 Other Users & Misc 0 0 3,888 4,212 4,536 4,860 95,256 UMW Invitational Meets 0 0 21,600 21,600 28,800 28,800 561,600 UMW Dual Meets 0 0 1,800 1,800 2,100 2,100 41,400 Club & Other Invitational Meets 0 0 25,200 29,400 33,600 37,800 730,800 High School Invitational Meets 0 0 5,600 5,600 8,400 8,400 162,400 High School Dual Meets 0 0 1,200 1,200 1,500 1,500 29,400 Total 0 0 187,580 197,278 217,576 227,273 4,466,078

% Attendee Days - Local: UMW Varsity 90% 90% 90% 90% 90% 90% -- Tsunami 70% 70% 70% 70% 70% 70% -- Stingrays 70% 70% 70% 70% 70% 70% -- Local High Schools 95% 95% 95% 95% 95% 95% -- Intro to Diving 60% 60% 60% 60% 60% 60% -- Open Swimming 85% 85% 85% 85% 85% 85% -- UMW Campus Rec 90% 90% 90% 90% 90% 90% -- Open Swim Lessons 70% 70% 70% 70% 70% 70% -- Rehab & Physical Therapy 60% 60% 60% 60% 60% 60% -- Fitness Classes 70% 70% 70% 70% 70% 70% -- Other Users & Misc 50% 50% 50% 50% 50% 50% -- UMW Invitational Meets 20% 20% 20% 20% 20% 20% -- UMW Dual Meets 50% 50% 50% 50% 50% 50% -- Club & Other Invitational Meets 30% 30% 30% 30% 30% 30% -- High School Invitational Meets 20% 20% 20% 20% 20% 20% -- High School Dual Meets 40% 40% 40% 40% 40% 40% --

% Attendee Days - Non Local: UMW Varsity 10% 10% 10% 10% 10% 10% -- Tsunami 30% 30% 30% 30% 30% 30% -- Stingrays 30% 30% 30% 30% 30% 30% -- Local High Schools 5% 5% 5% 5% 5% 5% -- Intro to Diving 40% 40% 40% 40% 40% 40% -- Open Swimming 15% 15% 15% 15% 15% 15% -- UMW Campus Rec 10% 10% 10% 10% 10% 10% -- Open Swim Lessons 30% 30% 30% 30% 30% 30% -- Rehab & Physical Therapy 40% 40% 40% 40% 40% 40% -- Fitness Classes 30% 30% 30% 30% 30% 30% -- Other Users & Misc 50% 50% 50% 50% 50% 50% -- UMW Invitational Meets 80% 80% 80% 80% 80% 80% -- UMW Dual Meets 50% 50% 50% 50% 50% 50% -- Club & Other Invitational Meets 70% 70% 70% 70% 70% 70% -- High School Invitational Meets 80% 80% 80% 80% 80% 80% -- High School Dual Meets 60% 60% 60% 60% 60% 60% --

Total Attendee Days - Local: UMW Varsity 0 0 26,325 26,325 26,325 26,325 526,500 Tsunami 0 0 20,748 21,840 22,932 24,024 473,928 Stingrays 0 0 20,748 21,840 22,932 24,024 473,928 Local High Schools 0 0 4,742 5,039 5,335 5,632 110,854 Intro to Diving 0 0 1,482 1,560 1,638 1,716 33,852 Open Swimming 0 0 7,480 7,820 8,160 8,500 167,960 UMW Campus Rec 0 0 432 432 432 432 8,640 Open Swim Lessons 0 0 12,257 12,902 13,548 14,193 279,982 Rehab & Physical Therapy 0 0 570 600 630 660 13,020 Fitness Classes 0 0 3,192 3,360 3,528 3,696 72,912 Other Users & Misc 0 0 1,944 2,106 2,268 2,430 47,628 UMW Invitational Meets 0 0 4,320 4,320 5,760 5,760 112,320 UMW Dual Meets 0 0 900 900 1,050 1,050 20,700 Club & Other Invitational Meets 0 0 7,560 8,820 10,080 11,340 219,240 High School Invitational Meets 0 0 1,120 1,120 1,680 1,680 32,480 High School Dual Meets 0 0 480 480 600 600 11,760 Total 0 0 114,301 119,464 126,898 132,061 2,605,704

7/22/21 10:10 PM Appendix B Page 14 of 29 PROPOSED FREDERICKSBURG / SPOTSYLVANIA REGIONAL AREA NATATORIUM Appendix B: Utilization, Financial & Economic Model

Construction Period Opening Stabilized Year Year Year Year Year Year 20-Year Unit CP1 CP2 1 2 3 4 Cumulative

Total Attendee Days - Non Local: UMW Varsity 0 0 2,925 2,925 2,925 2,925 58,500 Tsunami 0 0 8,892 9,360 9,828 10,296 203,112 Stingrays 0 0 8,892 9,360 9,828 10,296 203,112 Local High Schools 0 0 250 265 281 296 5,834 Intro to Diving 0 0 988 1,040 1,092 1,144 22,568 Open Swimming 0 0 1,320 1,380 1,440 1,500 29,640 UMW Campus Rec 0 0 48 48 48 48 960 Open Swim Lessons 0 0 5,253 5,530 5,806 6,083 119,992 Rehab & Physical Therapy 0 0 380 400 420 440 8,680 Fitness Classes 0 0 1,368 1,440 1,512 1,584 31,248 Other Users & Misc 0 0 1,944 2,106 2,268 2,430 47,628 UMW Invitational Meets 0 0 17,280 17,280 23,040 23,040 449,280 UMW Dual Meets 0 0 900 900 1,050 1,050 20,700 Club & Other Invitational Meets 0 0 17,640 20,580 23,520 26,460 511,560 High School Invitational Meets 0 0 4,480 4,480 6,720 6,720 129,920 High School Dual Meets 0 0 720 720 900 900 17,640 Total 0 0 73,280 77,814 90,678 95,212 1,860,375

% Non Local Attendee Days Net New to Market: UMW Varsity 100% 100% 100% 100% 100% 100% -- Tsunami 100% 100% 100% 100% 100% 100% -- Stingrays 100% 100% 100% 100% 100% 100% -- Local High Schools 100% 100% 100% 100% 100% 100% -- Intro to Diving 100% 100% 100% 100% 100% 100% -- Open Swimming 100% 100% 100% 100% 100% 100% -- UMW Campus Rec 100% 100% 100% 100% 100% 100% -- Open Swim Lessons 100% 100% 100% 100% 100% 100% -- Rehab & Physical Therapy 100% 100% 100% 100% 100% 100% -- Fitness Classes 100% 100% 100% 100% 100% 100% -- Other Users & Misc 100% 100% 100% 100% 100% 100% -- UMW Invitational Meets 100% 100% 100% 100% 100% 100% -- UMW Dual Meets 100% 100% 100% 100% 100% 100% -- Club & Other Invitational Meets 100% 100% 100% 100% 100% 100% -- High School Invitational Meets 100% 100% 100% 100% 100% 100% -- High School Dual Meets 100% 100% 100% 100% 100% 100% --

Total Attendee Days - Non Local (Net New): UMW Varsity 0 0 2,925 2,925 2,925 2,925 58,500 Tsunami 0 0 8,892 9,360 9,828 10,296 203,112 Stingrays 0 0 8,892 9,360 9,828 10,296 203,112 Local High Schools 0 0 250 265 281 296 5,834 Intro to Diving 0 0 988 1,040 1,092 1,144 22,568 Open Swimming 0 0 1,320 1,380 1,440 1,500 29,640 UMW Campus Rec 0 0 48 48 48 48 960 Open Swim Lessons 0 0 5,253 5,530 5,806 6,083 119,992 Rehab & Physical Therapy 0 0 380 400 420 440 8,680 Fitness Classes 0 0 1,368 1,440 1,512 1,584 31,248 Other Users & Misc 0 0 1,944 2,106 2,268 2,430 47,628 UMW Invitational Meets 0 0 17,280 17,280 23,040 23,040 449,280 UMW Dual Meets 0 0 900 900 1,050 1,050 20,700 Club & Other Invitational Meets 0 0 17,640 20,580 23,520 26,460 511,560 High School Invitational Meets 0 0 4,480 4,480 6,720 6,720 129,920 High School Dual Meets 0 0 720 720 900 900 17,640 Total 0 0 73,280 77,814 90,678 95,212 1,860,375

% Non Local Attendee Days - Daytripper: UMW Varsity 50% 50% 50% 50% 50% 50% -- Tsunami 50% 50% 50% 50% 50% 50% -- Stingrays 50% 50% 50% 50% 50% 50% -- Local High Schools 50% 50% 50% 50% 50% 50% -- Intro to Diving 70% 70% 70% 70% 70% 70% -- Open Swimming 70% 70% 70% 70% 70% 70% -- UMW Campus Rec 70% 70% 70% 70% 70% 70% -- Open Swim Lessons 70% 70% 70% 70% 70% 70% -- Rehab & Physical Therapy 70% 70% 70% 70% 70% 70% -- Fitness Classes 70% 70% 70% 70% 70% 70% -- Other Users & Misc 50% 50% 50% 50% 50% 50% -- UMW Invitational Meets 40% 40% 40% 40% 40% 40% -- UMW Dual Meets 60% 60% 60% 60% 60% 60% -- Club & Other Invitational Meets 40% 40% 40% 40% 40% 40% -- High School Invitational Meets 50% 50% 50% 50% 50% 50% -- High School Dual Meets 70% 70% 70% 70% 70% 70% --

7/22/21 10:10 PM Appendix B Page 15 of 29 PROPOSED FREDERICKSBURG / SPOTSYLVANIA REGIONAL AREA NATATORIUM Appendix B: Utilization, Financial & Economic Model

Construction Period Opening Stabilized Year Year Year Year Year Year 20-Year Unit CP1 CP2 1 2 3 4 Cumulative

% Non Local Attendee Days - Overnight: UMW Varsity 50% 50% 50% 50% 50% 50% -- Tsunami 50% 50% 50% 50% 50% 50% -- Stingrays 50% 50% 50% 50% 50% 50% -- Local High Schools 50% 50% 50% 50% 50% 50% -- Intro to Diving 30% 30% 30% 30% 30% 30% -- Open Swimming 30% 30% 30% 30% 30% 30% -- UMW Campus Rec 30% 30% 30% 30% 30% 30% -- Open Swim Lessons 30% 30% 30% 30% 30% 30% -- Rehab & Physical Therapy 30% 30% 30% 30% 30% 30% -- Fitness Classes 30% 30% 30% 30% 30% 30% -- Other Users & Misc 50% 50% 50% 50% 50% 50% -- UMW Invitational Meets 60% 60% 60% 60% 60% 60% -- UMW Dual Meets 40% 40% 40% 40% 40% 40% -- Club & Other Invitational Meets 60% 60% 60% 60% 60% 60% -- High School Invitational Meets 50% 50% 50% 50% 50% 50% -- High School Dual Meets 30% 30% 30% 30% 30% 30% --

Total Attendee Days - Non Local Daytripper: UMW Varsity 0 0 1,463 1,463 1,463 1,463 29,250 Tsunami 0 0 4,446 4,680 4,914 5,148 101,556 Stingrays 0 0 4,446 4,680 4,914 5,148 101,556 Local High Schools 0 0 125 133 140 148 2,917 Intro to Diving 0 0 692 728 764 801 15,798 Open Swimming 0 0 924 966 1,008 1,050 20,748 UMW Campus Rec 0 0 34 34 34 34 672 Open Swim Lessons 0 0 3,677 3,871 4,064 4,258 83,995 Rehab & Physical Therapy 0 0 266 280 294 308 6,076 Fitness Classes 0 0 958 1,008 1,058 1,109 21,874 Other Users & Misc 0 0 972 1,053 1,134 1,215 23,814 UMW Invitational Meets 0 0 6,912 6,912 9,216 9,216 179,712 UMW Dual Meets 0 0 540 540 630 630 12,420 Club & Other Invitational Meets 0 0 7,056 8,232 9,408 10,584 204,624 High School Invitational Meets 0 0 2,240 2,240 3,360 3,360 64,960 High School Dual Meets 0 0 504 504 630 630 12,348 Total 0 0 35,253 37,322 43,032 45,101 882,319

Total Attendee Days - Non Local Overnight: UMW Varsity 0 0 1,463 1,463 1,463 1,463 29,250 Tsunami 0 0 4,446 4,680 4,914 5,148 101,556 Stingrays 0 0 4,446 4,680 4,914 5,148 101,556 Local High Schools 0 0 125 133 140 148 2,917 Intro to Diving 0 0 296 312 328 343 6,770 Open Swimming 0 0 396 414 432 450 8,892 UMW Campus Rec 0 0 14 14 14 14 288 Open Swim Lessons 0 0 1,576 1,659 1,742 1,825 35,998 Rehab & Physical Therapy 0 0 114 120 126 132 2,604 Fitness Classes 0 0 410 432 454 475 9,374 Other Users & Misc 0 0 972 1,053 1,134 1,215 23,814 UMW Invitational Meets 0 0 10,368 10,368 13,824 13,824 269,568 UMW Dual Meets 0 0 360 360 420 420 8,280 Club & Other Invitational Meets 0 0 10,584 12,348 14,112 15,876 306,936 High School Invitational Meets 0 0 2,240 2,240 3,360 3,360 64,960 High School Dual Meets 0 0 216 216 270 270 5,292 Total 0 0 38,026 40,491 47,646 50,111 978,056

Adjustment for Extended Stay: UMW Varsity 100% 100% 100% 100% 100% 100% -- Tsunami 100% 100% 100% 100% 100% 100% -- Stingrays 100% 100% 100% 100% 100% 100% -- Local High Schools 100% 100% 100% 100% 100% 100% -- Intro to Diving 100% 100% 100% 100% 100% 100% -- Open Swimming 100% 100% 100% 100% 100% 100% -- UMW Campus Rec 100% 100% 100% 100% 100% 100% -- Open Swim Lessons 100% 100% 100% 100% 100% 100% -- Rehab & Physical Therapy 100% 100% 100% 100% 100% 100% -- Fitness Classes 100% 100% 100% 100% 100% 100% -- Other Users & Misc 100% 100% 100% 100% 100% 100% -- UMW Invitational Meets 100% 100% 100% 100% 100% 100% -- UMW Dual Meets 100% 100% 100% 100% 100% 100% -- Club & Other Invitational Meets 100% 100% 100% 100% 100% 100% -- High School Invitational Meets 100% 100% 100% 100% 100% 100% -- High School Dual Meets 100% 100% 100% 100% 100% 100% --

7/22/21 10:10 PM Appendix B Page 16 of 29 PROPOSED FREDERICKSBURG / SPOTSYLVANIA REGIONAL AREA NATATORIUM Appendix B: Utilization, Financial & Economic Model

Construction Period Opening Stabilized Year Year Year Year Year Year 20-Year Unit CP1 CP2 1 2 3 4 Cumulative

Total Adjusted Attendee Days - Non Local Overnight: UMW Varsity 0 0 1,463 1,463 1,463 1,463 29,250 Tsunami 0 0 4,446 4,680 4,914 5,148 101,556 Stingrays 0 0 4,446 4,680 4,914 5,148 101,556 Local High Schools 0 0 125 133 140 148 2,917 Intro to Diving 0 0 296 312 328 343 6,770 Open Swimming 0 0 396 414 432 450 8,892 UMW Campus Rec 0 0 14 14 14 14 288 Open Swim Lessons 0 0 1,576 1,659 1,742 1,825 35,998 Rehab & Physical Therapy 0 0 114 120 126 132 2,604 Fitness Classes 0 0 410 432 454 475 9,374 Other Users & Misc 0 0 972 1,053 1,134 1,215 23,814 UMW Invitational Meets 0 0 10,368 10,368 13,824 13,824 269,568 UMW Dual Meets 0 0 360 360 420 420 8,280 Club & Other Invitational Meets 0 0 10,584 12,348 14,112 15,876 306,936 High School Invitational Meets 0 0 2,240 2,240 3,360 3,360 64,960 High School Dual Meets 0 0 216 216 270 270 5,292 Total 0 0 38,026 40,491 47,646 50,111 978,056

Persons per Hotel Room: UMW Varsity 2.8 2.8 2.8 2.8 2.8 2.8 -- Tsunami 2.8 2.8 2.8 2.8 2.8 2.8 -- Stingrays 2.8 2.8 2.8 2.8 2.8 2.8 -- Local High Schools 2.8 2.8 2.8 2.8 2.8 2.8 -- Intro to Diving 2.8 2.8 2.8 2.8 2.8 2.8 -- Open Swimming 2.8 2.8 2.8 2.8 2.8 2.8 -- UMW Campus Rec 2.8 2.8 2.8 2.8 2.8 2.8 -- Open Swim Lessons 2.8 2.8 2.8 2.8 2.8 2.8 -- Rehab & Physical Therapy 2.8 2.8 2.8 2.8 2.8 2.8 -- Fitness Classes 2.8 2.8 2.8 2.8 2.8 2.8 -- Other Users & Misc 2.8 2.8 2.8 2.8 2.8 2.8 -- UMW Invitational Meets 2.8 2.8 2.8 2.8 2.8 2.8 -- UMW Dual Meets 2.8 2.8 2.8 2.8 2.8 2.8 -- Club & Other Invitational Meets 2.8 2.8 2.8 2.8 2.8 2.8 -- High School Invitational Meets 2.8 2.8 2.8 2.8 2.8 2.8 -- High School Dual Meets 2.8 2.8 2.8 2.8 2.8 2.8 --

Total Hotel Room Nights (Net New): UMW Varsity 0 0 522 522 522 522 10,446 Tsunami 0 0 1,588 1,671 1,755 1,839 36,270 Stingrays 0 0 1,588 1,671 1,755 1,839 36,270 Local High Schools 0 0 45 47 50 53 1,042 Intro to Diving 0 0 106 111 117 123 2,418 Open Swimming 0 0 141 148 154 161 3,176 UMW Campus Rec 0 0 5 5 5 5 103 Open Swim Lessons 0 0 563 592 622 652 12,856 Rehab & Physical Therapy 0 0 41 43 45 47 930 Fitness Classes 0 0 147 154 162 170 3,348 Other Users & Misc 0 0 347 376 405 434 8,505 UMW Invitational Meets 0 0 3,703 3,703 4,937 4,937 96,274 UMW Dual Meets 0 0 129 129 150 150 2,957 Club & Other Invitational Meets 0 0 3,780 4,410 5,040 5,670 109,620 High School Invitational Meets 0 0 800 800 1,200 1,200 23,200 High School Dual Meets 0 0 77 77 96 96 1,890 Total 0 0 13,581 14,461 17,017 17,897 349,306

Daily Spending Per Attendee - Non Local Overnight Growth UMW Varsity 0.0% $150 $150 $150 $150 $150 $150 -- Tsunami 0.0% $150 $150 $150 $150 $150 $150 -- Stingrays 0.0% $150 $150 $150 $150 $150 $150 -- Local High Schools 0.0% $150 $150 $150 $150 $150 $150 -- Intro to Diving 0.0% $150 $150 $150 $150 $150 $150 -- Open Swimming 0.0% $150 $150 $150 $150 $150 $150 -- UMW Campus Rec 0.0% $150 $150 $150 $150 $150 $150 -- Open Swim Lessons 0.0% $150 $150 $150 $150 $150 $150 -- Rehab & Physical Therapy 0.0% $150 $150 $150 $150 $150 $150 -- Fitness Classes 0.0% $150 $150 $150 $150 $150 $150 -- Other Users & Misc 0.0% $150 $150 $150 $150 $150 $150 -- UMW Invitational Meets 0.0% $150 $150 $150 $150 $150 $150 -- UMW Dual Meets 0.0% $150 $150 $150 $150 $150 $150 -- Club & Other Invitational Meets 0.0% $150 $150 $150 $150 $150 $150 -- High School Invitational Meets 0.0% $150 $150 $150 $150 $150 $150 -- High School Dual Meets 0.0% $150 $150 $150 $150 $150 $150 --

7/22/21 10:10 PM Appendix B Page 17 of 29 PROPOSED FREDERICKSBURG / SPOTSYLVANIA REGIONAL AREA NATATORIUM Appendix B: Utilization, Financial & Economic Model

Construction Period Opening Stabilized Year Year Year Year Year Year 20-Year Unit CP1 CP2 1 2 3 4 Cumulative

Daily Spending Per Attendee - Non Local Daytrippers Growth UMW Varsity 0.0% $60 $60 $60 $60 $60 $60 -- Tsunami 0.0% $60 $60 $60 $60 $60 $60 -- Stingrays 0.0% $60 $60 $60 $60 $60 $60 -- Local High Schools 0.0% $60 $60 $60 $60 $60 $60 -- Intro to Diving 0.0% $60 $60 $60 $60 $60 $60 -- Open Swimming 0.0% $60 $60 $60 $60 $60 $60 -- UMW Campus Rec 0.0% $60 $60 $60 $60 $60 $60 -- Open Swim Lessons 0.0% $60 $60 $60 $60 $60 $60 -- Rehab & Physical Therapy 0.0% $60 $60 $60 $60 $60 $60 -- Fitness Classes 0.0% $60 $60 $60 $60 $60 $60 -- Other Users & Misc 0.0% $60 $60 $60 $60 $60 $60 -- UMW Invitational Meets 0.0% $60 $60 $60 $60 $60 $60 -- UMW Dual Meets 0.0% $60 $60 $60 $60 $60 $60 -- Club & Other Invitational Meets 0.0% $60 $60 $60 $60 $60 $60 -- High School Invitational Meets 0.0% $60 $60 $60 $60 $60 $60 -- High School Dual Meets 0.0% $60 $60 $60 $60 $60 $60 --

Direct Spending - Non Local Overnight UMW Varsity $0 $0 $219,375 $219,375 $219,375 $219,375 $4,387,500 Tsunami $0 $0 $666,900 $702,000 $737,100 $772,200 $15,233,400 Stingrays $0 $0 $666,900 $702,000 $737,100 $772,200 $15,233,400 Local High Schools $0 $0 $18,720 $19,890 $21,060 $22,230 $437,580 Intro to Diving $0 $0 $44,460 $46,800 $49,140 $51,480 $1,015,560 Open Swimming $0 $0 $59,400 $62,100 $64,800 $67,500 $1,333,800 UMW Campus Rec $0 $0 $2,160 $2,160 $2,160 $2,160 $43,200 Open Swim Lessons $0 $0 $236,390 $248,832 $261,274 $273,715 $5,399,654 Rehab & Physical Therapy $0 $0 $17,100 $18,000 $18,900 $19,800 $390,600 Fitness Classes $0 $0 $61,560 $64,800 $68,040 $71,280 $1,406,160 Other Users & Misc $0 $0 $145,800 $157,950 $170,100 $182,250 $3,572,100 UMW Invitational Meets $0 $0 $1,555,200 $1,555,200 $2,073,600 $2,073,600 $40,435,200 UMW Dual Meets $0 $0 $54,000 $54,000 $63,000 $63,000 $1,242,000 Club & Other Invitational Meets $0 $0 $1,587,600 $1,852,200 $2,116,800 $2,381,400 $46,040,400 High School Invitational Meets $0 $0 $336,000 $336,000 $504,000 $504,000 $9,744,000 High School Dual Meets $0 $0 $32,400 $32,400 $40,500 $40,500 $793,800 Total $0 $0 $5,703,965 $6,073,707 $7,146,949 $7,516,690 $146,708,354

Direct Spending - Non Local Daytrippers UMW Varsity $0 $0 $87,750 $87,750 $87,750 $87,750 $1,755,000 Tsunami $0 $0 $266,760 $280,800 $294,840 $308,880 $6,093,360 Stingrays $0 $0 $266,760 $280,800 $294,840 $308,880 $6,093,360 Local High Schools $0 $0 $7,488 $7,956 $8,424 $8,892 $175,032 Intro to Diving $0 $0 $41,496 $43,680 $45,864 $48,048 $947,856 Open Swimming $0 $0 $55,440 $57,960 $60,480 $63,000 $1,244,880 UMW Campus Rec $0 $0 $2,016 $2,016 $2,016 $2,016 $40,320 Open Swim Lessons $0 $0 $220,631 $232,243 $243,855 $255,468 $5,039,677 Rehab & Physical Therapy $0 $0 $15,960 $16,800 $17,640 $18,480 $364,560 Fitness Classes $0 $0 $57,456 $60,480 $63,504 $66,528 $1,312,416 Other Users & Misc $0 $0 $58,320 $63,180 $68,040 $72,900 $1,428,840 UMW Invitational Meets $0 $0 $414,720 $414,720 $552,960 $552,960 $10,782,720 UMW Dual Meets $0 $0 $32,400 $32,400 $37,800 $37,800 $745,200 Club & Other Invitational Meets $0 $0 $423,360 $493,920 $564,480 $635,040 $12,277,440 High School Invitational Meets $0 $0 $134,400 $134,400 $201,600 $201,600 $3,897,600 High School Dual Meets $0 $0 $30,240 $30,240 $37,800 $37,800 $740,880 Total $0 $0 $2,115,197 $2,239,345 $2,581,893 $2,706,042 $52,939,141

Direct Spending - Total Non Locals UMW Varsity $0 $0 $307,125 $307,125 $307,125 $307,125 $6,142,500 Tsunami $0 $0 $933,660 $982,800 $1,031,940 $1,081,080 $21,326,760 Stingrays $0 $0 $933,660 $982,800 $1,031,940 $1,081,080 $21,326,760 Local High Schools $0 $0 $26,208 $27,846 $29,484 $31,122 $612,612 Intro to Diving $0 $0 $85,956 $90,480 $95,004 $99,528 $1,963,416 Open Swimming $0 $0 $114,840 $120,060 $125,280 $130,500 $2,578,680 UMW Campus Rec $0 $0 $4,176 $4,176 $4,176 $4,176 $83,520 Open Swim Lessons $0 $0 $457,021 $481,075 $505,129 $529,183 $10,439,332 Rehab & Physical Therapy $0 $0 $33,060 $34,800 $36,540 $38,280 $755,160 Fitness Classes $0 $0 $119,016 $125,280 $131,544 $137,808 $2,718,576 Other Users & Misc $0 $0 $204,120 $221,130 $238,140 $255,150 $5,000,940 UMW Invitational Meets $0 $0 $1,969,920 $1,969,920 $2,626,560 $2,626,560 $51,217,920 UMW Dual Meets $0 $0 $86,400 $86,400 $100,800 $100,800 $1,987,200 Club & Other Invitational Meets $0 $0 $2,010,960 $2,346,120 $2,681,280 $3,016,440 $58,317,840 High School Invitational Meets $0 $0 $470,400 $470,400 $705,600 $705,600 $13,641,600 High School Dual Meets $0 $0 $62,640 $62,640 $78,300 $78,300 $1,534,680 Total $0 $0 $7,819,162 $8,313,052 $9,728,842 $10,222,732 $199,647,496

7/22/21 10:10 PM Appendix B Page 18 of 29 PROPOSED FREDERICKSBURG / SPOTSYLVANIA REGIONAL AREA NATATORIUM Appendix B: Utilization, Financial & Economic Model

Construction Period Opening Stabilized Year Year Year Year Year Year 20-Year Unit CP1 CP2 1 2 3 4 Cumulative

Direct Spending By Industry - Overnight: Hotel 32% 32% 32% 32% 32% 32% -- Restaurant 42% 42% 42% 42% 42% 42% -- Entertainment 8% 8% 8% 8% 8% 8% -- Retail 12% 12% 12% 12% 12% 12% -- Auto Rental 0% 0% 0% 0% 0% 0% -- Other Local Transit 2% 2% 2% 2% 2% 2% -- Other Industries 4% 4% 4% 4% 4% 4% -- Construction - Non Residential 0% 0% 0% 0% 0% 0% -- Total 100% 100% 100% 100% 100% 100% --

Direct Spending By Industry - Daytripper: Hotel 0% 0% 0% 0% 0% 0% -- Restaurant 52% 52% 52% 52% 52% 52% -- Entertainment 8% 8% 8% 8% 8% 8% -- Retail 30% 30% 30% 30% 30% 30% -- Auto Rental 0% 0% 0% 0% 0% 0% -- Other Local Transit 2% 2% 2% 2% 2% 2% -- Other Industries 8% 8% 8% 8% 8% 8% -- Construction - Non Residential 0% 0% 0% 0% 0% 0% -- Total 100% 100% 100% 100% 100% 100% --

Direct Spending By Industry - Overnight: Hotel $0 $0 $1,825,269 $1,943,586 $2,287,024 $2,405,341 $46,946,673 Restaurant $0 $0 $2,395,665 $2,550,957 $3,001,718 $3,157,010 $61,617,509 Entertainment $0 $0 $456,317 $485,897 $571,756 $601,335 $11,736,668 Retail $0 $0 $684,476 $728,845 $857,634 $902,003 $17,605,003 Auto Rental $0 $0 $0 $0 $0 $0 $0 Other Local Transit $0 $0 $114,079 $121,474 $142,939 $150,334 $2,934,167 Other Industries $0 $0 $228,159 $242,948 $285,878 $300,668 $5,868,334 Construction - Non Residential $0 $0 $0 $0 $0 $0 $0 Total $0 $0 $5,703,965 $6,073,707 $7,146,949 $7,516,690 `

Direct Spending By Industry - Daytripper: Hotel $0 $0 $0 $0 $0 $0 $0 Restaurant $0 $0 $1,099,902 $1,164,460 $1,342,585 $1,407,142 $27,528,354 Entertainment $0 $0 $169,216 $179,148 $206,551 $216,483 $4,235,131 Retail $0 $0 $634,559 $671,804 $774,568 $811,812 $15,881,742 Auto Rental $0 $0 $0 $0 $0 $0 $0 Other Local Transit $0 $0 $42,304 $44,787 $51,638 $54,121 $1,058,783 Other Industries $0 $0 $169,216 $179,148 $206,551 $216,483 $4,235,131 Construction - Non Residential $0 $0 $0 $0 $0 $0 $0 Total $0 $0 $2,115,197 $2,239,345 $2,581,893 $2,706,042 $52,939,141

Total Direct Spending By Industry: Hotel $0 $0 $1,825,269 $1,943,586 $2,287,024 $2,405,341 $46,946,673 Restaurant $0 $0 $3,495,568 $3,715,416 $4,344,303 $4,564,151 $89,145,862 Entertainment $0 $0 $625,533 $665,044 $778,307 $817,819 $15,971,800 Retail $0 $0 $1,319,035 $1,400,648 $1,632,202 $1,713,815 $33,486,745 Auto Rental $0 $0 $0 $0 $0 $0 $0 Other Local Transit $0 $0 $156,383 $166,261 $194,577 $204,455 $3,992,950 Other Industries $0 $0 $397,374 $422,096 $492,429 $517,151 $10,103,465 Construction - Non Residential $0 $0 $0 $0 $0 $0 $0 Total $0 $0 $7,819,162 $8,313,052 $9,728,842 $10,222,732 $199,647,496

Total Output By Industry: Hotel 1.6854 $0 $0 $3,076,374 $3,275,790 $3,854,631 $4,054,048 $79,125,602 Restaurant 1.6840 $0 $0 $5,886,579 $6,256,807 $7,315,860 $7,686,087 $150,122,727 Entertainment 1.5771 $0 $0 $986,556 $1,048,870 $1,227,503 $1,289,818 $25,189,826 Retail 1.6948 $0 $0 $2,235,451 $2,373,767 $2,766,195 $2,904,510 $56,752,091 Auto Rental 1.7797 $0 $0 $0 $0 $0 $0 $0 Other Local Transit 1.7797 $0 $0 $278,322 $295,901 $346,296 $363,876 $7,106,414 Other Industries 1.7596 $0 $0 $699,226 $742,726 $866,486 $909,986 $17,778,201 Construction - Non Residential 1.6866 $0 $0 $0 $0 $0 $0 $0 Total $0 $0 $13,162,507 $13,993,861 $16,376,971 $17,208,325 $336,074,862

7/22/21 10:10 PM Appendix B Page 19 of 29 PROPOSED FREDERICKSBURG / SPOTSYLVANIA REGIONAL AREA NATATORIUM Appendix B: Utilization, Financial & Economic Model

Construction Period Opening Stabilized Year Year Year Year Year Year 20-Year Unit CP1 CP2 1 2 3 4 Cumulative

Personal Income (Earnings) By Industry: Hotel 0.6789 $0 $0 $1,239,161 $1,319,486 $1,552,643 $1,632,968 $31,871,743 Restaurant 0.7340 $0 $0 $2,565,781 $2,727,152 $3,188,760 $3,350,131 $65,433,924 Entertainment 0.5194 $0 $0 $324,920 $345,443 $404,275 $424,799 $8,296,215 Retail 0.6672 $0 $0 $880,101 $934,556 $1,089,055 $1,143,510 $22,343,382 Auto Rental 0.8194 $0 $0 $0 $0 $0 $0 $0 Other Local Transit 0.8194 $0 $0 $128,133 $136,227 $159,427 $167,521 $3,271,640 Other Industries 0.6915 $0 $0 $274,798 $291,894 $340,532 $357,627 $6,986,891 Construction - Non Residential 0.5680 $0 $0 $0 $0 $0 $0 $0 Total $0 $0 $5,412,894 $5,754,757 $6,734,693 $7,076,556 $138,203,794

Total Employment By Industry: Hotel 16.0159 0 0 29 31 37 39 752 Restaurant 25.5274 0 0 89 95 111 117 2,276 Entertainment 19.6251 0 0 12 13 15 16 313 Retail 19.1241 0 0 25 27 31 33 640 Auto Rental 20.8444 0 0 0 0 0 0 0 Other Local Transit 20.8444 0 0 3 3 4 4 83 Other Industries 21.5641 0 0 9 9 11 11 218 Construction - Non Residential 11.9801 0 0 0 0 0 0 0 Total 0 0 168 178 209 219 4,283

County Sales Tax (1.0%) 1.00% Hotel $0 $0 $18,253 $19,436 $22,870 $24,053 $469,467 Restaurant $0 $0 $34,956 $37,154 $43,443 $45,642 $891,459 Entertainment $0 $0 $6,255 $6,650 $7,783 $8,178 $159,718 Retail $0 $0 $13,190 $14,006 $16,322 $17,138 $334,867 Auto Rental $0 $0 $0 $0 $0 $0 $0 Other Local Transit $0 $0 $1,564 $1,663 $1,946 $2,045 $39,929 Other Industries $0 $0 $3,974 $4,221 $4,924 $5,172 $101,035 Construction - Non Residential $0 $0 $0 $0 $0 $0 $0 Indirect Spending 0.3 $0 $0 $16,030 $17,042 $19,944 $20,957 $409,282 Total $0 $0 $94,222 $100,173 $117,233 $123,184 $2,405,757

County TOT (5.0%) 5.00% Hotel $0 $0 $91,263 $97,179 $114,351 $120,267 $2,347,334 Restaurant $0 $0 $0 $0 $0 $0 $0 Entertainment $0 $0 $0 $0 $0 $0 $0 Retail $0 $0 $0 $0 $0 $0 $0 Auto Rental $0 $0 $0 $0 $0 $0 $0 Other Local Transit $0 $0 $0 $0 $0 $0 $0 Other Industries $0 $0 $0 $0 $0 $0 $0 Construction - Non Residential $0 $0 $0 $0 $0 $0 $0 Indirect Spending 0.0 $0 $0 $0 $0 $0 $0 $0 Total $0 $0 $91,263 $97,179 $114,351 $120,267 $2,347,334

Open 0.00% Hotel $0 $0 $0 $0 $0 $0 $0 Restaurant $0 $0 $0 $0 $0 $0 $0 Entertainment $0 $0 $0 $0 $0 $0 $0 Retail $0 $0 $0 $0 $0 $0 $0 Auto Rental $0 $0 $0 $0 $0 $0 $0 Other Local Transit $0 $0 $0 $0 $0 $0 $0 Other Industries $0 $0 $0 $0 $0 $0 $0 Construction - Non Residential $0 $0 $0 $0 $0 $0 $0 Indirect Spending 0.3 $0 $0 $0 $0 $0 $0 $0 Total $0 $0 $0 $0 $0 $0 $0

County Food & Beverage Tax (4.0%) 4.00% Hotel $0 $0 $0 $0 $0 $0 $0 Restaurant $0 $0 $139,823 $148,617 $173,772 $182,566 $3,565,834 Entertainment $0 $0 $0 $0 $0 $0 $0 Retail $0 $0 $0 $0 $0 $0 $0 Auto Rental $0 $0 $0 $0 $0 $0 $0 Other Local Transit $0 $0 $0 $0 $0 $0 $0 Other Industries $0 $0 $0 $0 $0 $0 $0 Construction - Non Residential $0 $0 $0 $0 $0 $0 $0 Indirect Spending 0.3 $0 $0 $0 $0 $0 $0 $0 Total $0 $0 $139,823 $148,617 $173,772 $182,566 $3,565,834

7/22/21 10:10 PM Appendix B Page 20 of 29 PROPOSED FREDERICKSBURG / SPOTSYLVANIA REGIONAL AREA NATATORIUM Appendix B: Utilization, Financial & Economic Model

Construction Period Opening Stabilized Year Year Year Year Year Year 20-Year Unit CP1 CP2 1 2 3 4 Cumulative

Out-of-Facility Impact Summary Net New Hotel Room Nights 0 0 13,581 14,461 17,017 17,897 349,306 Total Attendee Days 0 0 187,580 197,278 217,576 227,273 4,466,078 Net New Non Local Attendee Days 0 0 73,280 77,814 90,678 95,212 1,860,375 Direct Spending $0 $0 $7,819,162 $8,313,052 $9,728,842 $10,222,732 $199,647,496 Indirect/Induced Spending $0 $0 $5,343,345 $5,680,809 $6,648,129 $6,985,593 $136,427,366 Economic Output $0 $0 $13,162,507 $13,993,861 $16,376,971 $17,208,325 $336,074,862 Personal Income $0 $0 $5,412,894 $5,754,757 $6,734,693 $7,076,556 $138,203,794 Employment (full & part-time jobs) 0 0 168 178 209 219 4,283 County Sales Tax (1.0%) $0 $0 $94,222 $100,173 $117,233 $123,184 $2,405,757 County TOT (5.0%) $0 $0 $91,263 $97,179 $114,351 $120,267 $2,347,334 Open $0 $0 $0 $0 $0 $0 $0 County Food & Beverage Tax (4.0%) $0 $0 $139,823 $148,617 $173,772 $182,566 $3,565,834 Total Taxes $0 $0 $325,308 $345,969 $405,356 $426,017 $8,318,925

In-Facility Impacts

In-Facility Spending - Gross: Food & Beverage $0 $0 $416,711 $439,256 $490,951 $513,496 $10,076,357 Other Operating $0 $0 $1,167,070 $1,228,840 $1,310,610 $1,372,380 $27,036,980 Open $0 $0 $0 $0 $0 $0 $0 Total $0 $0 $1,583,781 $1,668,096 $1,801,561 $1,885,876 $37,113,337

In-Facility Spending - Net New to Local Area: Food & Beverage 60% $0 $0 $250,026 $263,554 $294,571 $308,098 $6,045,814 Other Operating 60% $0 $0 $700,242 $737,304 $786,366 $823,428 $16,222,188 Open 60% $0 $0 $0 $0 $0 $0 $0 Total $0 $0 $950,268 $1,000,858 $1,080,937 $1,131,526 $22,268,002

Direct Spending By Industry: Hotel $0 $0 $0 $0 $0 $0 $0 Restaurant $0 $0 $700,242 $737,304 $786,366 $823,428 $16,222,188 Entertainment $0 $0 $0 $0 $0 $0 $0 Retail $0 $0 $250,026 $263,554 $294,571 $308,098 $6,045,814 Auto Rental $0 $0 $0 $0 $0 $0 $0 Other Local Transit $0 $0 $0 $0 $0 $0 $0 Other Industries $0 $0 $0 $0 $0 $0 $0 Construction - Non Residential $0 $0 $0 $0 $0 $0 $0 Total $0 $0 $950,268 $1,000,858 $1,080,937 $1,131,526 $22,268,002

Total Output By Industry: Hotel 1.6854 $0 $0 $0 $0 $0 $0 $0 Restaurant 1.6840 $0 $0 $1,179,216 $1,241,629 $1,324,250 $1,386,663 $27,318,364 Entertainment 1.5771 $0 $0 $0 $0 $0 $0 $0 Retail 1.6948 $0 $0 $423,736 $446,661 $499,228 $522,153 $10,246,221 Auto Rental 1.7797 $0 $0 $0 $0 $0 $0 $0 Other Local Transit 1.7797 $0 $0 $0 $0 $0 $0 $0 Other Industries 1.7596 $0 $0 $0 $0 $0 $0 $0 Construction - Non Residential 1.6866 $0 $0 $0 $0 $0 $0 $0 Total $0 $0 $1,602,952 $1,688,290 $1,823,478 $1,908,816 $37,564,585

Personal Income (Earnings) By Industry: Hotel 0.6789 $0 $0 $0 $0 $0 $0 $0 Restaurant 0.7340 $0 $0 $513,984 $541,188 $577,200 $604,404 $11,907,243 Entertainment 0.5194 $0 $0 $0 $0 $0 $0 $0 Retail 0.6672 $0 $0 $166,825 $175,851 $196,547 $205,572 $4,033,952 Auto Rental 0.8194 $0 $0 $0 $0 $0 $0 $0 Other Local Transit 0.8194 $0 $0 $0 $0 $0 $0 $0 Other Industries 0.6915 $0 $0 $0 $0 $0 $0 $0 Construction - Non Residential 0.5680 $0 $0 $0 $0 $0 $0 $0 Total $0 $0 $680,810 $717,039 $773,747 $809,976 $15,941,195

Total Employment By Industry: Hotel 16.0159 0 0 0 0 0 0 0 Restaurant 25.5274 0 0 18 19 20 21 414 Entertainment 19.6251 0 0 0 0 0 0 0 Retail 19.1241 0 0 5 5 6 6 116 Auto Rental 20.8444 0 0 0 0 0 0 0 Other Local Transit 20.8444 0 0 0 0 0 0 0 Other Industries 21.5641 0 0 0 0 0 0 0 Construction - Non Residential 11.9801 0 0 0 0 0 0 0 Total 0 0 23 24 26 27 530

7/22/21 10:10 PM Appendix B Page 21 of 29 PROPOSED FREDERICKSBURG / SPOTSYLVANIA REGIONAL AREA NATATORIUM Appendix B: Utilization, Financial & Economic Model

Construction Period Opening Stabilized Year Year Year Year Year Year 20-Year Unit CP1 CP2 1 2 3 4 Cumulative

County Sales Tax (1.0%) 1.00% Hotel $0 $0 $0 $0 $0 $0 $0 Restaurant $0 $0 $7,002 $7,373 $7,864 $8,234 $162,222 Entertainment $0 $0 $0 $0 $0 $0 $0 Retail $0 $0 $2,500 $2,636 $2,946 $3,081 $60,458 Auto Rental $0 $0 $0 $0 $0 $0 $0 Other Local Transit $0 $0 $0 $0 $0 $0 $0 Other Industries $0 $0 $0 $0 $0 $0 $0 Construction - Non Residential $0 $0 $0 $0 $0 $0 $0 Indirect Spending 0.3 $0 $0 $1,958 $2,062 $2,228 $2,332 $45,890 Total $0 $0 $11,461 $12,071 $13,037 $13,647 $268,570

County TOT (5.0%) 5.00% Hotel $0 $0 $0 $0 $0 $0 $0 Restaurant $0 $0 $0 $0 $0 $0 $0 Entertainment $0 $0 $0 $0 $0 $0 $0 Retail $0 $0 $0 $0 $0 $0 $0 Auto Rental $0 $0 $0 $0 $0 $0 $0 Other Local Transit $0 $0 $0 $0 $0 $0 $0 Other Industries $0 $0 $0 $0 $0 $0 $0 Construction - Non Residential $0 $0 $0 $0 $0 $0 $0 Indirect Spending 0.0 $0 $0 $0 $0 $0 $0 $0 Total $0 $0 $0 $0 $0 $0 $0

County Food & Beverage Tax (4.0%) 4.00% Hotel $0 $0 $0 $0 $0 $0 $0 Restaurant $0 $0 $28,010 $29,492 $31,455 $32,937 $648,888 Entertainment $0 $0 $0 $0 $0 $0 $0 Retail $0 $0 $0 $0 $0 $0 $0 Auto Rental $0 $0 $0 $0 $0 $0 $0 Other Local Transit $0 $0 $0 $0 $0 $0 $0 Other Industries $0 $0 $0 $0 $0 $0 $0 Construction - Non Residential $0 $0 $0 $0 $0 $0 $0 Indirect Spending 0.3 $0 $0 $0 $0 $0 $0 $0 Total $0 $0 $28,010 $29,492 $31,455 $32,937 $648,888

In-Facility Impact Summary Net New Hotel Room Nights 0 0 0 0 0 0 0 Total Attendee Days 0 0 0 0 0 0 0 Net New Non Local Attendee Days 0 0 0 0 0 0 0 Direct Spending $0 $0 $950,268 $1,000,858 $1,080,937 $1,131,526 $22,268,002 Indirect/Induced Spending $0 $0 $652,683 $687,432 $742,541 $777,290 $15,296,583 Economic Output $0 $0 $1,602,952 $1,688,290 $1,823,478 $1,908,816 $37,564,585 Personal Income $0 $0 $680,810 $717,039 $773,747 $809,976 $15,941,195 Employment (full & part-time jobs) 0 0 23 24 26 27 530 County Sales Tax (1.0%) $0 $0 $11,461 $12,071 $13,037 $13,647 $268,570 County TOT (5.0%) $0 $0 $0 $0 $0 $0 $0 County Food & Beverage Tax (4.0%) $0 $0 $28,010 $29,492 $31,455 $32,937 $648,888 Total Taxes $0 $0 $39,470 $41,563 $44,492 $46,584 $917,457

7/22/21 10:10 PM Appendix B Page 22 of 29 PROPOSED FREDERICKSBURG / SPOTSYLVANIA REGIONAL AREA NATATORIUM Appendix B: Utilization, Financial & Economic Model

Construction Period Opening Stabilized Year Year Year Year Year Year 20-Year Unit CP1 CP2 1 2 3 4 Cumulative

Construction Impacts

Construction Expenditures $57,958,517 $28,979,259 $28,979,259 $0 $0 $0 $0 $57,958,517

Spending - Gross Materials 55.0% $15,938,592 $15,938,592 $0 $0 $0 $0 $31,877,184 Labor 45.0% $13,040,666 $13,040,666 $0 $0 $0 $0 $26,081,333 Total 100.0% $28,979,259 $28,979,259 $0 $0 $0 $0 $57,958,517

Spending % - Local: Materials 20.0% $5,795,852 $5,795,852 $0 $0 $0 $0 $11,591,703 Labor 30.0% $8,693,778 $8,693,778 $0 $0 $0 $0 $17,387,555 Total 50.0% $14,489,629 $14,489,629 $0 $0 $0 $0 $28,979,259

Daily Spending By Industry: Hotel $0 $0 $0 $0 $0 $0 $0 Restaurant $0 $0 $0 $0 $0 $0 $0 Entertainment $0 $0 $0 $0 $0 $0 $0 Retail $0 $0 $0 $0 $0 $0 $0 Auto Rental $0 $0 $0 $0 $0 $0 $0 Other Local Transit $0 $0 $0 $0 $0 $0 $0 Other Industries $0 $0 $0 $0 $0 $0 $0 Construction - Non Residential $14,489,629 $14,489,629 $0 $0 $0 $0 $28,979,259 Total $14,489,629 $14,489,629 $0 $0 $0 $0 $28,979,259

Total Output By Industry: Hotel 1.6854 $0 $0 $0 $0 $0 $0 $0 Restaurant 1.6840 $0 $0 $0 $0 $0 $0 $0 Entertainment 1.5771 $0 $0 $0 $0 $0 $0 $0 Retail 1.6948 $0 $0 $0 $0 $0 $0 $0 Auto Rental 1.7797 $0 $0 $0 $0 $0 $0 $0 Other Local Transit 1.7797 $0 $0 $0 $0 $0 $0 $0 Other Industries 1.7596 $0 $0 $0 $0 $0 $0 $0 Construction - Non Residential 1.6866 $24,438,472 $24,438,472 $0 $0 $0 $0 $48,876,943 Total $24,438,472 $24,438,472 $0 $0 $0 $0 $48,876,943

Personal Income (Earnings) By Industry: Hotel 0.6789 $0 $0 $0 $0 $0 $0 $0 Restaurant 0.7340 $0 $0 $0 $0 $0 $0 $0 Entertainment 0.5194 $0 $0 $0 $0 $0 $0 $0 Retail 0.6672 $0 $0 $0 $0 $0 $0 $0 Auto Rental 0.8194 $0 $0 $0 $0 $0 $0 $0 Other Local Transit 0.8194 $0 $0 $0 $0 $0 $0 $0 Other Industries 0.6915 $0 $0 $0 $0 $0 $0 $0 Construction - Non Residential 0.5680 $8,229,711 $8,229,711 $0 $0 $0 $0 $16,459,422 Total $8,229,711 $8,229,711 $0 $0 $0 $0 $16,459,422

Total Employment By Industry: Hotel 16.0159 0 0 0 0 0 0 0 Restaurant 25.5274 0 0 0 0 0 0 0 Entertainment 19.6251 0 0 0 0 0 0 0 Retail 19.1241 0 0 0 0 0 0 0 Auto Rental 20.8444 0 0 0 0 0 0 0 Other Local Transit 20.8444 0 0 0 0 0 0 0 Other Industries 21.5641 0 0 0 0 0 0 0 Construction - Non Residential 11.9801 174 174 0 0 0 0 347 Total 174 174 0 0 0 0 347

County Sales Tax (1.0%) 1.00% Hotel $0 $0 $0 $0 $0 $0 $0 Restaurant $0 $0 $0 $0 $0 $0 $0 Entertainment $0 $0 $0 $0 $0 $0 $0 Retail $0 $0 $0 $0 $0 $0 $0 Auto Rental $0 $0 $0 $0 $0 $0 $0 Other Local Transit $0 $0 $0 $0 $0 $0 $0 Other Industries $0 $0 $0 $0 $0 $0 $0 Construction - Non Residential $144,896 $144,896 $0 $0 $0 $0 $289,793 Indirect Spending 0.3 $29,847 $29,847 $0 $0 $0 $0 $59,693 Total $174,743 $174,743 $0 $0 $0 $0 $349,486

7/22/21 10:10 PM Appendix B Page 23 of 29 PROPOSED FREDERICKSBURG / SPOTSYLVANIA REGIONAL AREA NATATORIUM Appendix B: Utilization, Financial & Economic Model

Construction Period Opening Stabilized Year Year Year Year Year Year 20-Year Unit CP1 CP2 1 2 3 4 Cumulative

County Food & Beverage Tax (4.0%) 4.00% Hotel $0 $0 $0 $0 $0 $0 $0 Restaurant $0 $0 $0 $0 $0 $0 $0 Entertainment $0 $0 $0 $0 $0 $0 $0 Retail $0 $0 $0 $0 $0 $0 $0 Auto Rental $0 $0 $0 $0 $0 $0 $0 Other Local Transit $0 $0 $0 $0 $0 $0 $0 Other Industries $0 $0 $0 $0 $0 $0 $0 Construction - Non Residential $0 $0 $0 $0 $0 $0 $0 Indirect Spending 0.3 $0 $0 $0 $0 $0 $0 $0 Total $0 $0 $0 $0 $0 $0 $0

Construction Impact Summary Net New Hotel Room Nights 0 0 0 0 0 0 0 Total Attendee Days 0 0 0 0 0 0 0 Net New Non Local Attendee Days 0 0 0 0 0 0 0 Direct Spending $14,489,629 $14,489,629 $0 $0 $0 $0 $28,979,259 Indirect/Induced Spending $9,948,842 $9,948,842 $0 $0 $0 $0 $19,897,685 Economic Output $24,438,472 $24,438,472 $0 $0 $0 $0 $48,876,943 Personal Income $8,229,711 $8,229,711 $0 $0 $0 $0 $16,459,422 Employment (full & part-time jobs) 174 174 0 0 0 0 347 County Sales Tax (1.0%) $174,743 $174,743 $0 $0 $0 $0 $349,486 County TOT (5.0%) $0 $0 $0 $0 $0 $0 $0 County Food & Beverage Tax (4.0%) $0 $0 $0 $0 $0 $0 $0 Total Taxes $174,743 $174,743 $0 $0 $0 $0 $349,486

7/22/21 10:10 PM Appendix B Page 24 of 29 PROPOSED FREDERICKSBURG / SPOTSYLVANIA REGIONAL AREA NATATORIUM Appendix B: Utilization, Financial & Economic Model

Construction Period Opening Stabilized Year Year Year Year Year Year 20-Year Unit CP1 CP2 1 2 3 4 Cumulative

OVERALL SUMMARY OF ECONOMIC IMPACTS

A) Construction Impacts Net New Hotel Room Nights 0 0 0 0 0 0 0 Total Attendee Days 0 0 0 0 0 0 0 Net New Non Local Visitor Days 0 0 0 0 0 0 0 Direct Spending $14,489,629 $14,489,629 $0 $0 $0 $0 $28,979,259 Indirect/Induced Spending $9,948,842 $9,948,842 $0 $0 $0 $0 $19,897,685 Economic Output $24,438,472 $24,438,472 $0 $0 $0 $0 $48,876,943 Personal Income $8,229,711 $8,229,711 $0 $0 $0 $0 $16,459,422 Employment (full & part-time jobs) 174 174 0 0 0 0 347 County Sales Tax (1.0%) $174,743 $174,743 $0 $0 $0 $0 $349,486 County TOT (5.0%) $0 $0 $0 $0 $0 $0 $0 County Food & Beverage Tax (4.0%) $0 $0 $0 $0 $0 $0 $0 Total Taxes $174,743 $174,743 $0 $0 $0 $0 $349,486

B) In-Facility Impacts Net New Hotel Room Nights 0 0 0 0 0 0 0 Total Attendee Days 0 0 0 0 0 0 0 Net New Non Local Visitor Days 0 0 0 0 0 0 0 Direct Spending $0 $0 $950,268 $1,000,858 $1,080,937 $1,131,526 $22,268,002 Indirect/Induced Spending $0 $0 $652,683 $687,432 $742,541 $777,290 $15,296,583 Economic Output $0 $0 $1,602,952 $1,688,290 $1,823,478 $1,908,816 $37,564,585 Personal Income $0 $0 $680,810 $717,039 $773,747 $809,976 $15,941,195 Employment (full & part-time jobs) 0 0 23 24 26 27 530 County Sales Tax (1.0%) $0 $0 $11,461 $12,071 $13,037 $13,647 $268,570 County TOT (5.0%) $0 $0 $0 $0 $0 $0 $0 County Food & Beverage Tax (4.0%) $0 $0 $28,010 $29,492 $31,455 $32,937 $648,888 Total Taxes $0 $0 $39,470 $41,563 $44,492 $46,584 $917,457

C) Out-of-Facility Impacts Net New Hotel Room Nights 0 0 13,581 14,461 17,017 17,897 349,306 Total Attendee Days 0 0 187,580 197,278 217,576 227,273 4,466,078 Net New Non Local Visitor Days 0 0 73,280 77,814 90,678 95,212 1,860,375 Direct Spending $0 $0 $7,819,162 $8,313,052 $9,728,842 $10,222,732 $199,647,496 Indirect/Induced Spending $0 $0 $5,343,345 $5,680,809 $6,648,129 $6,985,593 $136,427,366 Economic Output $0 $0 $13,162,507 $13,993,861 $16,376,971 $17,208,325 $336,074,862 Personal Income $0 $0 $5,412,894 $5,754,757 $6,734,693 $7,076,556 $138,203,794 Employment (full & part-time jobs) 0 0 168 178 209 219 4,283 County Sales Tax (1.0%) $0 $0 $94,222 $100,173 $117,233 $123,184 $2,405,757 County TOT (5.0%) $0 $0 $91,263 $97,179 $114,351 $120,267 $2,347,334 County Food & Beverage Tax (4.0%) $0 $0 $139,823 $148,617 $173,772 $182,566 $3,565,834 Total Taxes $0 $0 $325,308 $345,969 $405,356 $426,017 $8,318,925

TOTAL NET NEW IMPACTS Net New Hotel Room Nights 0 0 13,581 14,461 17,017 17,897 349,306 Total Attendee Days 0 0 187,580 197,278 217,576 227,273 4,466,078 Net New Non Local Visitor Days 0 0 73,280 77,814 90,678 95,212 1,860,375 Direct Spending $14,489,629 $14,489,629 $8,769,431 $9,313,910 $10,809,779 $11,354,258 $250,894,756 Indirect/Induced Spending $9,948,842 $9,948,842 $5,996,028 $6,368,241 $7,390,669 $7,762,883 $171,621,633 Economic Output $24,438,472 $24,438,472 $14,765,459 $15,682,151 $18,200,448 $19,117,141 $422,516,390 Personal Income $8,229,711 $8,229,711 $6,093,703 $6,471,796 $7,508,440 $7,886,532 $170,604,411 Employment (full & part-time jobs) 174 174 190 202 234 246 5,159 County Sales Tax (1.0%) $174,743 $174,743 $105,682 $112,244 $130,270 $136,831 $3,023,812 County TOT (5.0%) $0 $0 $91,263 $97,179 $114,351 $120,267 $2,347,334 County Food & Beverage Tax (4.0%) $0 $0 $167,832 $178,109 $205,227 $215,503 $4,214,722 Total Taxes $174,743 $174,743 $364,778 $387,532 $449,848 $472,601 $9,585,868

7/22/21 10:10 PM Appendix B Page 25 of 29 PROPOSED FREDERICKSBURG / SPOTSYLVANIA REGIONAL AREA NATATORIUM Appendix B: Utilization, Financial & Economic Model

Construction Period Opening Stabilized Year Year Year Year Year Year 20-Year Unit CP1 CP2 1 2 3 4 Cumulative

SUMMARY OF KEY PERFORMANCE PROJECTIONS

Construction Period Opening Stabilized 20-Year UTILIZATION CP1 CP2 Year 1 Year 2 Year 3 Year 4 Cumulative PROGRAMMING (LANE HOURS) UMW Varsity 0 0 4,503 4,503 4,503 4,503 90,060 Tsunami 0 0 2,736 2,880 3,024 3,168 62,496 Stingrays 0 0 2,736 2,880 3,024 3,168 62,496 Local High Schools 0 0 1,920 2,040 2,160 2,280 44,880 Intro to Diving 0 0 1,520 1,600 1,680 1,760 34,720 Open Swimming 0 0 18,480 19,320 20,160 21,000 414,960 UMW Campus Rec 0 0 1,344 1,344 1,344 1,344 26,880 Open Swim Lessons 0 0 4,864 5,120 5,376 5,632 111,104 Rehab & Physical Therapy 0 0 3,800 4,000 4,200 4,400 86,800 Fitness Classes 0 0 1,140 1,200 1,260 1,320 26,040 Other Users & Misc 0 0 2,160 2,340 2,520 2,700 52,920 Total 0 0 45,203 47,227 49,251 51,275 1,013,356 MEETS UMW Invitational Meets 0 0 3 3 4 4 78 UMW Dual Meets 0 0 6 6 7 7 138 Club & Other Invitational Meets 0 0 6 7 8 9 174 High School Invitational Meets 0 0 2 2 3 3 58 High School Dual Meets 0 0 4 4 5 5 98 Total 0 0 21 22 27 28 546

7/22/21 10:10 PM Appendix B Page 26 of 29 PROPOSED FREDERICKSBURG / SPOTSYLVANIA REGIONAL AREA NATATORIUM Appendix B: Utilization, Financial & Economic Model

Construction Period Opening Stabilized Year Year Year Year Year Year 20-Year Unit CP1 CP2 1 2 3 4 Cumulative

Construction Period Opening Stabilized 20-Year ATTENDANCE CP1 CP2 Year 1 Year 2 Year 3 Year 4 Cumulative PROGRAMMING (SWIMMERS) UMW Varsity 0 0 22,500 22,500 22,500 22,500 450,000 Tsunami 0 0 22,800 24,000 25,200 26,400 520,800 Stingrays 0 0 22,800 24,000 25,200 26,400 520,800 Local High Schools 0 0 3,840 4,080 4,320 4,560 89,760 Intro to Diving 0 0 1,900 2,000 2,100 2,200 43,400 Open Swimming 0 0 8,800 9,200 9,600 10,000 197,600 UMW Campus Rec 0 0 480 480 480 480 9,600 Open Swim Lessons 0 0 9,728 10,240 10,752 11,264 222,208 Rehab & Physical Therapy 0 0 950 1,000 1,050 1,100 21,700 Fitness Classes 0 0 4,560 4,800 5,040 5,280 104,160 Other Users & Misc 0 0 3,240 3,510 3,780 4,050 79,380 Total 0 0 101,598 105,810 110,022 114,234 2,259,408 PROGRAMMING (SPECTATORS) UMW Varsity 0 0 6,750 6,750 6,750 6,750 135,000 Tsunami 0 0 6,840 7,200 7,560 7,920 156,240 Stingrays 0 0 6,840 7,200 7,560 7,920 156,240 Local High Schools 0 0 1,152 1,224 1,296 1,368 26,928 Intro to Diving 0 0 570 600 630 660 13,020 Open Swimming 0 0 0 0 0 0 0 UMW Campus Rec 0 0 0 0 0 0 0 Open Swim Lessons 0 0 7,782 8,192 8,602 9,011 177,766 Rehab & Physical Therapy 0 0 0 0 0 0 0 Fitness Classes 0 0 0 0 0 0 0 Other Users & Misc 0 0 648 702 756 810 15,876 Total 0 0 30,582 31,868 33,154 34,439 681,070 MEETS (SWIMMERS) UMW Invitational Meets 0 0 2,400 2,400 3,200 3,200 62,400 UMW Dual Meets 0 0 600 600 700 700 13,800 Club & Other Invitational Meets 0 0 3,600 4,200 4,800 5,400 104,400 High School Invitational Meets 0 0 800 800 1,200 1,200 23,200 High School Dual Meets 0 0 400 400 500 500 9,800 Total 0 0 7,800 8,400 10,400 11,000 213,600 MEETS (SPECTATORS) UMW Invitational Meets 0 0 4,800 4,800 6,400 6,400 124,800 UMW Dual Meets 0 0 1,200 1,200 1,400 1,400 27,600 Club & Other Invitational Meets 0 0 9,000 10,500 12,000 13,500 261,000 High School Invitational Meets 0 0 2,000 2,000 3,000 3,000 58,000 High School Dual Meets 0 0 800 800 1,000 1,000 19,600 Total 0 0 17,800 19,300 23,800 25,300 491,000 TOTAL ATTENDANCE UMW Varsity 0 0 29,250 29,250 29,250 29,250 585,000 Tsunami 0 0 29,640 31,200 32,760 34,320 677,040 Stingrays 0 0 29,640 31,200 32,760 34,320 677,040 Local High Schools 0 0 4,992 5,304 5,616 5,928 116,688 Intro to Diving 0 0 2,470 2,600 2,730 2,860 56,420 Open Swimming 0 0 8,800 9,200 9,600 10,000 197,600 UMW Campus Rec 0 0 480 480 480 480 9,600 Open Swim Lessons 0 0 17,510 18,432 19,354 20,275 399,974 Rehab & Physical Therapy 0 0 950 1,000 1,050 1,100 21,700 Fitness Classes 0 0 4,560 4,800 5,040 5,280 104,160 Other Users & Misc 0 0 3,888 4,212 4,536 4,860 95,256 UMW Invitational Meets 0 0 7,200 7,200 9,600 9,600 187,200 UMW Dual Meets 0 0 1,800 1,800 2,100 2,100 41,400 Club & Other Invitational Meets 0 0 12,600 14,700 16,800 18,900 365,400 High School Invitational Meets 0 0 2,800 2,800 4,200 4,200 81,200 High School Dual Meets 0 0 1,200 1,200 1,500 1,500 29,400 Total 0 0 157,780 165,378 177,376 184,973 3,645,078

7/22/21 10:10 PM Appendix B Page 27 of 29 PROPOSED FREDERICKSBURG / SPOTSYLVANIA REGIONAL AREA NATATORIUM Appendix B: Utilization, Financial & Economic Model

Construction Period Opening Stabilized Year Year Year Year Year Year 20-Year Unit CP1 CP2 1 2 3 4 Cumulative

Construction Period Opening Stabilized 20-Year FINANCIAL OPERATIONS CP1 CP2 Year 1 Year 2 Year 3 Year 4 Cumulative OPERATING REVENUES Registration Fees $0 $0 $329,750 $346,600 $363,450 $380,300 $7,504,900 Rental Income $0 $0 $531,020 $560,440 $609,860 $639,280 $12,569,080 Concessions (gross) $0 $0 $416,711 $439,256 $490,951 $513,496 $10,076,357 Advertising/Sponsorship $0 $0 $216,300 $221,300 $226,300 $231,300 $4,596,000 Other $0 $0 $90,000 $100,500 $111,000 $121,500 $2,367,000 Subtotal $0 $0 $1,583,781 $1,668,096 $1,801,561 $1,885,876 $37,113,337 OPERATING EXPENSES Salaries, Wages and Benefits $0 $0 $729,400 $734,400 $739,400 $744,400 $14,858,000 Utilities $0 $0 $291,400 $291,400 $291,400 $291,400 $5,828,000 Maintenance and Repair $0 $0 $76,600 $76,600 $76,600 $76,600 $1,532,000 Materials and Supplies $0 $0 $59,900 $59,900 $59,900 $59,900 $1,198,000 Insurance $0 $0 $112,400 $112,400 $112,400 $112,400 $2,248,000 Concessions $0 $0 $166,700 $175,700 $196,400 $205,400 $4,030,600 General and Administrative $0 $0 $82,000 $87,000 $92,000 $97,000 $1,910,000 Management Fee $0 $0 $150,000 $160,000 $170,000 $180,000 $3,540,000 In-House Operations/Programming $0 $0 $214,300 $225,300 $236,200 $247,200 $4,878,200 Subtotal $0 $0 $1,882,700 $1,922,700 $1,974,300 $2,014,300 $40,022,800 NET OPERATING INCOME $0 $0 ($298,919) ($254,604) ($172,739) ($128,424) ($2,909,463)

7/22/21 10:10 PM Appendix B Page 28 of 29 PROPOSED FREDERICKSBURG / SPOTSYLVANIA REGIONAL AREA NATATORIUM Appendix B: Utilization, Financial & Economic Model

Construction Period Opening Stabilized Year Year Year Year Year Year 20-Year Unit CP1 CP2 1 2 3 4 Cumulative

Construction Period Opening Stabilized 20-Year ECONOMIC IMPACT CP1 CP2 Year 1 Year 2 Year 3 Year 4 Cumulative A) Construction Impacts Net New Hotel Room Nights 0 0 0 0 0 0 0 Total Attendee Days 0 0 0 0 0 0 0 Net New Non Local Visitor Days 0 0 0 0 0 0 0 Direct Spending $14,489,629 $14,489,629 $0 $0 $0 $0 $28,979,259 Indirect/Induced Spending $9,948,842 $9,948,842 $0 $0 $0 $0 $19,897,685 Economic Output $24,438,472 $24,438,472 $0 $0 $0 $0 $48,876,943 Personal Income $8,229,711 $8,229,711 $0 $0 $0 $0 $16,459,422 Employment (full & part-time jobs) 174 174 0 0 0 0 347 County Sales Tax (1.0%) $174,743 $174,743 $0 $0 $0 $0 $349,486 County TOT (5.0%) $0 $0 $0 $0 $0 $0 $0 County Food & Beverage Tax (4.0%) $0 $0 $0 $0 $0 $0 $0 Total Taxes $174,743 $174,743 $0 $0 $0 $0 $349,486 B) In-Facility Impacts Net New Hotel Room Nights 0 0 0 0 0 0 0 Total Attendee Days 0 0 0 0 0 0 0 Net New Non Local Visitor Days 0 0 0 0 0 0 0 Direct Spending $0 $0 $950,268 $1,000,858 $1,080,937 $1,131,526 $22,268,002 Indirect/Induced Spending $0 $0 $652,683 $687,432 $742,541 $777,290 $15,296,583 Economic Output $0 $0 $1,602,952 $1,688,290 $1,823,478 $1,908,816 $37,564,585 Personal Income $0 $0 $680,810 $717,039 $773,747 $809,976 $15,941,195 Employment (full & part-time jobs) 0 0 23 24 26 27 530 County Sales Tax (1.0%) $0 $0 $11,461 $12,071 $13,037 $13,647 $268,570 County TOT (5.0%) $0 $0 $0 $0 $0 $0 $0 County Food & Beverage Tax (4.0%) $0 $0 $28,010 $29,492 $31,455 $32,937 $648,888 Total Taxes $0 $0 $39,470 $41,563 $44,492 $46,584 $917,457 C) Out-of-Facility Impacts Net New Hotel Room Nights 0 0 13,581 14,461 17,017 17,897 349,306 Total Attendee Days 0 0 187,580 197,278 217,576 227,273 4,466,078 Net New Non Local Visitor Days 0 0 73,280 77,814 90,678 95,212 1,860,375 Direct Spending $0 $0 $7,819,162 $8,313,052 $9,728,842 $10,222,732 $199,647,496 Indirect/Induced Spending $0 $0 $5,343,345 $5,680,809 $6,648,129 $6,985,593 $136,427,366 Economic Output $0 $0 $13,162,507 $13,993,861 $16,376,971 $17,208,325 $336,074,862 Personal Income $0 $0 $5,412,894 $5,754,757 $6,734,693 $7,076,556 $138,203,794 Employment (full & part-time jobs) 0 0 168 178 209 219 4,283 County Sales Tax (1.0%) $0 $0 $94,222 $100,173 $117,233 $123,184 $2,405,757 County TOT (5.0%) $0 $0 $91,263 $97,179 $114,351 $120,267 $2,347,334 County Food & Beverage Tax (4.0%) $0 $0 $139,823 $148,617 $173,772 $182,566 $3,565,834 Total Taxes $0 $0 $325,308 $345,969 $405,356 $426,017 $8,318,925 TOTAL NET NEW IMPACTS Net New Hotel Room Nights 0 0 13,581 14,461 17,017 17,897 349,306 Total Attendee Days 0 0 187,580 197,278 217,576 227,273 4,466,078 Net New Non Local Visitor Days 0 0 73,280 77,814 90,678 95,212 1,860,375 Direct Spending $14,489,629 $14,489,629 $8,769,431 $9,313,910 $10,809,779 $11,354,258 $250,894,756 Indirect/Induced Spending $9,948,842 $9,948,842 $5,996,028 $6,368,241 $7,390,669 $7,762,883 $171,621,633 Economic Output $24,438,472 $24,438,472 $14,765,459 $15,682,151 $18,200,448 $19,117,141 $422,516,390 Personal Income $8,229,711 $8,229,711 $6,093,703 $6,471,796 $7,508,440 $7,886,532 $170,604,411 Employment (full & part-time jobs) 174 174 190 202 234 246 5,159 County Sales Tax (1.0%) $174,743 $174,743 $105,682 $112,244 $130,270 $136,831 $3,023,812 County TOT (5.0%) $0 $0 $91,263 $97,179 $114,351 $120,267 $2,347,334 County Food & Beverage Tax (4.0%) $0 $0 $167,832 $178,109 $205,227 $215,503 $4,214,722 Total Taxes $174,743 $174,743 $364,778 $387,532 $449,848 $472,601 $9,585,868

7/22/21 10:10 PM Appendix B Page 29 of 29